Ethiopia Immigration Service Passport Fees Increased by 733%: New Rate Effective Tomorrow
The Ethiopian Immigration and Citizenship Service has announced a revised fee structure for various services, including passport issuance, expedited services, and more. These changes...
NBE Announces Special Foreign Exchange Auction to Manage Market Dynamics
The National Bank of Ethiopia (NBE) has announced a Special Foreign Exchange Auction scheduled for August 7, 2024. This auction allows interested banks to...
Genesis Investment Bank Set to Launch with Comprehensive Financial Services Portfolio
Addis Ababa, Ethiopia – Genesis Investment Bank™, a new financial institution founded by Ermias Amelega, is preparing to enter the market with a broad...
IMF Agrees to $950 Million Exemption for Koysha Hydroelectric Dam and Project Completion
IMF Support for Ethiopia's Macroeconomic Reform ProgramThe Board of the International Monetary Fund (IMF) has recently endorsed Ethiopia's macroeconomic reform program, detailing the decision...
NBE Governor Mamo Mehretu Announces $2.5 Billion Transfer from IMF and World Bank
The governor of the National Bank, Mamo Mehretu, said that so far, 2.5 billion dollars have been transferred to the National Bank from the...
Birr Falls 58 % to 90.78 as Dashen Bank Takes the Lead in Currency Float
Ethiopia recently made a significant shift in its monetary policy by floating its currency, the birr. This move has led to a sharp devaluation,...
