Business

CBE Raises Dollar Rate by 7 Birr, Adds 10 Birr Remittance Bonus to Counter Black Market

Addis Ababa, Ethiopia – May 28, 2025 — In a swift and strategic shift, the Commercial Bank of Ethiopia (CBE) has increased its official dollar buying rate by 7 birr—from 124.0086 to 131 birr—in under a week. The move marks one of the most significant rate jumps in recent history, as the bank seeks to

May 28, 2025 • By Addis Insight

Business

National Bank of Ethiopia Raises Daily Transaction Limit to 300,000 Birr

Addis Ababa, May 27, 2025 — The National Bank of Ethiopia (NBE) has introduced a sweeping amendment to its Licensing and Authorization of Payment Instrument Issuer Directive, issued as Directive No. ONPS/10/2025, aimed at modernizing the country’s digital payment landscape. The directive introduces new compliance mandates, operational standards, and interoperability requirements, signaling a bold step

May 27, 2025 • By Addis Insight

Business

Ethiopian Airlines Earns $5.6 Billion in Revenue in Nine Months, Sets New Records in Passenger Growth and Expansion

Addis Ababa – May 2025 Ethiopian Airlines Group has reported a remarkable $5.6 billion in revenue over the past nine months, reflecting an 8% increase compared to the same period last year. The airline’s Chief Executive Officer, Mr. Mesfin Tasew, shared the performance update in an interview with the Ethiopian Broadcasting Corporation (EBC), highlighting the

May 27, 2025 • By Addis Insight

Business

IMF Executive Board to Review Ethiopia’s $3.4 Billion Program This Summer Amid Economic Reform Push

Addis Ababa, Ethiopia – The International Monetary Fund (IMF) is expected to hold a crucial Executive Board meeting this summer to review the third installment of Ethiopia’s $3.4 billion Extended Credit Facility (ECF) and Extended Fund Facility (EFF) program, according to IMF spokesperson Julie Kozack. The meeting could unlock the disbursement of around $265 million,

May 26, 2025 • By Addis Insight

Business

Abiy and Macron Forge Stronger Economic Ties as France Renews Commitment to Ethiopia’s Debt Relief and Investment Future

PARIS – In a high-level diplomatic meeting held at the Élysée Palace, Ethiopian Prime Minister Dr. Abiy Ahmed and French President Emmanuel Macron reaffirmed their countries’ growing strategic partnership, with a renewed focus on deepening economic cooperation and accelerating Ethiopia’s debt relief process. The two leaders, accompanied by senior delegations, reviewed the progress of bilateral

May 23, 2025 • By Addis Insight

Business

Ethiopia’s Banking Crossroads: Risks of Foreign Bank Entry Amid Domestic Fragility

Why Rushing Liberalization Could Undermine Local Banks and Widen Economic Inequality By Henok Gidey (BA, MBA, ACCA, CFIP), Finance Specialist Addis Ababa — The Governor of the National Bank of Ethiopia (NBE) recently announced that foreign banks will be allowed to operate in Ethiopia starting next year. While this bold move is part of Ethiopia’s

May 21, 2025 • By Addis Insight

Business

Ethiopia Sets $150K Minimum for Foreign Property Ownership, Bans Local Bank Loans

A new draft proclamation has been submitted to Ethiopia’s House of People’s Representatives, setting out strict regulations on foreign ownership of real estate and land for residential construction. The proposed legislation seeks to attract foreign investment while protecting the domestic financial sector. Among its key provisions is a clause prohibiting foreign nationals and foreign-owned entities

May 20, 2025 • By Addis Insight

Business

NBE Lifts Limit: Importers Can Now Make $50K Advance Payments

The National Bank of Ethiopia Introduces New Measures to Reform the Foreign Exchange Market The National Bank of Ethiopia (NBE) has announced the implementation of several reform measures aimed at improving the country’s foreign exchange market system. These reforms are intended not only to align Ethiopia’s foreign exchange market with international best practices but also

May 20, 2025 • By Addis Insight

Business

Africa at the Crossroads: A New Economic Dawn Fueled by Innovation, Diaspora Capital, and Bold Leadership

Interview with Lulite Ejigu, Chairperson of GRV and CEO & Managing Partner of Tevah Capital About Lulite Ejigu Lulite Ejigu brings a wealth of global financial expertise to her leadership at the Ethiopian Diaspora Trust Fund and currently serves as CEO & Managing Partner at Tevah Capital, a global advisory firm specializing in investment, capital

May 20, 2025 • By Addis Insight

Business

M-Pesa Lite Officially Launches in Ethiopia, Expanding Cross-Network Mobile Money Access

Addis Ababa – May 19, 2025 — Ethiopia has reached a major milestone in digital finance with the official launch of M-Pesa Lite, a streamlined version of the popular mobile money platform designed to enhance accessibility and financial inclusion across the country. The newly released M-Pesa for All app is now compatible with both Safaricom

May 19, 2025 • By Addis Insight