Business

NBE Announces Forex Auction Results: 17 Banks Push Dollar Price to 154.3993 Br

Addis Ababa — The National Bank of Ethiopia (NBE) has released the results of its latest foreign exchange auction, marking another step in the ongoing shift toward a more market-responsive currency regime. According to the central bank, 17 commercial banks participated in today’s auction, with the average winning price for one US dollar settling at

December 2, 2025 • By Addis Insight

Business

Ethiopia’s Central Bank Announces $50 Million FX Auction for December 2

Addis Ababa — December 1, 2025 The National Bank of Ethiopia (NBE) has announced that it will conduct its eleventh foreign exchange auction of the year on Tuesday, December 2, 2025, offering $50 million to participating commercial banks. The auction is part of the central bank’s renewed commitment to running a predictable, bi-weekly FX auction

December 1, 2025 • By Addis Insight

Business

M-PESA Lehulum Debuts: Mobile Money Now Works Across All Networks

Addis Ababa — M-PESA Ethiopia has launched M-PESA Lehulum, a new platform that enables mobile money services to operate across all telecommunications networks in the country. The rollout marks a significant step toward broader interoperability in Ethiopia’s financial technology sector, allowing customers to use M-PESA without switching SIM cards or mobile operators. A Shift Toward

December 1, 2025 • By Addis Insight

Business

Amhara Bank Reports Strong Growth as Pre-Tax Profit Surges to 654.8 Million Birr

Addis Ababa — Amhara Bank has posted a pre-tax profit of 654.8 million birr for the 2017 fiscal year, marking one of its strongest financial performances since its establishment and registering an 85% jump compared to the previous year.The announcement was made during the Bank’s fourth annual general meeting, which convened today in Addis Ababa.

November 29, 2025 • By Addis Insight

Business

Standard Bank Becomes First Foreign Institution Re-Licensed Under Ethiopia’s New Banking Regime

Addis Ababa — Ethiopia has taken its first concrete step toward opening its protected financial sector, with the National Bank of Ethiopia re-licensing Standard Bank’s Representative Office under the country’s revised Banking Business Proclamation. The South African lender is the first foreign institution to secure approval since Ethiopia shifted supervisory authority for foreign bank representative

November 28, 2025 • By Addis Insight

Business

Ethiopia Arrests Sports-Betting Executives in Probe of 100 Billion Birr Revenue Fraud

Ethiopian authorities have arrested the owners and associates of a major sports-betting operator suspected of embezzling more than 100 billion birr (about USD 1.7 billion) in government revenue, according to a statement from the National Intelligence and Security Service (NISS). NISS said it conducted an extensive investigation into both licensed and unlicensed betting companies, along

November 27, 2025 • By Addis Insight

Business

China-Based Bank Commits US$500 Million to Ethiopian Airlines’ Bishoftu Mega-Airport

A major China-based financial institution has pledged US$500 million to support the development of the planned Bishoftu International Airport, Ethiopian Airlines Group (EAG) CEO Mesfin Tasew Bekele has announced. The commitment marks a significant boost for what is set to become one of Africa’s largest aviation infrastructure projects, according to reporting by Ecofin Agency. Mesfin

November 27, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Acquires 1,125 Condominium Units to Address Employee Housing Shortage

The Commercial Bank of Ethiopia (CBE) has purchased 1,125 newly built condominium units from the Addis Ababa City Administration, marking one of the largest institutional housing acquisitions in the capital. The initiative aims to ease the long-standing housing challenges faced by CBE employees and to improve staff welfare across the institution. Modern Units Across Key

November 24, 2025 • By Addis Insight

Business

NBE Launches Central Securities Depository and ‘Ts’ega’ Investor Portal

ADDIS ABABA – In a move set to fundamentally reshape Ethiopia’s financial landscape, the National Bank of Ethiopia (NBE) has officially launched the nation’s inaugural Central Securities Depository (CSD) and the dedicated national investor portal, Ts’ega. These systems, which went live on November 22, 2025, signify a pivotal milestone in the long-awaited development of a

November 24, 2025 • By Addis Insight

Business

Awash Bank Reports Record 25.67 Billion Birr Gross Profit

Awash Bank has posted the highest profit ever recorded by a private bank in Ethiopia, reporting a gross profit of 25.67 billion Birr for the 2024/25 fiscal year—a 137% surge compared to the previous year. Net profit stood at 18.712 billion Birr, solidifying Awash’s position as the most profitable private financial institution in the country.

November 22, 2025 • By Addis Insight