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Esayas Kassa (PhD) Appointed DBE President After Emebet Melese (PhD) Removal

Development Bank of Ethiopia appoints former ECMA deputy Esayas Kassa as president following the removal of Emebet Melese, as part of broader EIH-led reforms.

Oromia Bank Reports Record Profit Growth and Digital Expansion in 2024/2025

Oromia Bank achieves historic profit increase, surging earnings per share, 50% growth in digital users, and strong financial inclusion initiatives through the Milkii App in fiscal year 2024/2025.

Abay Bank Records Historic 4.2 Billion Birr Profit in 2024/25 Fiscal Year

Abay Bank announces a historic 4.2 billion birr profit for the 2024/25 fiscal year, marking a 116% growth, major digital transformation gains, and strong financial indicators including 71.9 billion birr in deposits.

List of Licensed Forex Bureaus in Ethiopia (2025 Update)

Discover the latest list of licensed forex bureaus in Ethiopia authorized by the National Bank of Ethiopia. Get full details including owners, license numbers, contact info, and operational status.

Ethiopian Birr Weakens to 148.10 per Dollar in October 2025 NBE Forex Auction

The National Bank of Ethiopia (NBE) raised the forex auction rate to 148.10 birr per US dollar on October 14, 2025 — a 7.1% increase from the previous auction. Learn how this move impacts Ethiopia’s currency market and banking sector.

Ethiopian Banks Break Records in Africa’s 2025 Top 100 Rankings

Six Ethiopian banks are listed among Africa’s Top 100 for 2025, with Awash Bank making one of the biggest jumps and Cooperative Bank of Oromia joining for the first time. Ethiopia’s banking sector continues its strong growth, driven by reforms, digital expansion, and rising competition.

Wegagen Bank Achieves Record Revenue of 13.5 Billion Birr in 2024/25 Fiscal Year

Wegagen Bank S.C. announces its highest-ever revenue of 13.5 billion Birr and a 73% profit growth in the 2024/25 fiscal year. The bank’s earnings per share rose to 46.10%, with paid-up capital reaching 7 billion Birr, surpassing NBE’s requirement.

Dr Eyob Tekalign Tolina Appointed as 11th Governor of the National Bank of Ethiopia

Dr. Eyob Tekalign Tolina has been appointed as the 11th Governor of the National Bank of Ethiopia. Eyob, a seasoned political economist, brings extensive domestic and international economic experience to lead Ethiopia’s monetary policy and financial sector reforms.

Ethiopian Investment Holdings Reports 88% Profit Growth in 2024/25, Sets Bold Plans for 2025/26

Ethiopian Investment Holdings (EIH) posted 2.05 trillion ETB revenue and 262.7 billion ETB profit in 2024/25, with ambitious 2025/26 targets of 2.75 trillion ETB revenue and 412 billion ETB profit.

Ethiopia Secures 40% Stake in One of World’s Largest Fertilizer Projects with Dangote

Ethiopia moves from fertilizer importer to exporter with a $2.5B Dangote mega plant in Gode. The project will boost agriculture, create jobs, and position Ethiopia as East Africa’s fertilizer hub.

Dashen Bank Partners with EagleLion System Technologies to Launch Innovative Remittance Services in Ethiopia

Dashen Bank, in partnership with EagleLion System Technologies, has launched new remittance services in Ethiopia—Gift-Ethiopia, Agent-Based Remittance, and API Remittance—enhancing secure money transfers and boosting diaspora connections

Awash Bank Reports Over 22 Billion Birr in Pre-Tax Profit for the 2024/25 Fiscal Year

Awash Bank reports over 22B birr pre-tax profit in 2024/25, driven by 77% revenue growth, strong digital lending, and capital rising to 37B birr.

Paper No More: NBE to Replace Government Bond Certificates with Electronic Records

The National Bank of Ethiopia announces full dematerialization of government and NBE securities, replacing paper certificates with secure electronic records by June 30, 2025. Learn what investors must do to comply.

NBE Maintains Tight Monetary Stance to Fight Inflation and Support Market Reforms

The National Bank of Ethiopia kept its policy rate at 15% and extended the 18% credit growth cap to curb inflation. Read the June 2025 monetary policy highlights, economic outlook, and sectoral updates.

Dashen Bank Introduces Advanced Safe Deposit Box Service for Secure Asset Storage

Dashen Bank introduces a secure Safe Deposit Box service in Ethiopia, offering individuals and institutions a reliable solution to store gold, jewelry, documents, and other valuables with advanced security features.

KEGNA Beverages Launches Ethiopia’s Newest Beer Brand with a Grand Celebration in Addis Ababa

KEGNA Beverages S.C. launches KEGNA Premium Lager Beer—Ethiopia’s newest beer—at a grand event in Addis Ababa. With the largest brewery in Africa, it's 100% Ethiopian-owned and located in Ginchi, Oromia.

Chartered Financial Analyst (CFA) Program Now Available in Ethiopia

Ethiopia officially launches the globally recognized CFA Program, strengthening its capital market and offering local finance professionals world-class credentials.

Wegagen Capital Investment Bank Begins Operations as Ethiopia’s First Private Investment Bank

Wegagen Capital Investment Bank has officially launched operations as Ethiopia's first private investment bank, aiming to drive economic growth through innovative investment services in the newly established capital market.

Addis International Bank Rebrands as Addis Bank

Addis International Bank has officially rebranded as Addis Bank, unveiling a new name, logo, and motto to reflect its modern, inclusive, and tech-driven vision.

Safaricom Ethiopia Posts 42 Billion Birr Loss Despite 270% Revenue Growth

Safaricom Ethiopia reports a 42 billion birr loss for FY 2025, despite a 270% increase in revenue to 7.2 billion birr. The operating loss is attributed to currency depreciation and ongoing expansion costs amid strong growth in its customer base and M-PESA services.

BGI-Ethiopia Appoints Pierre-Emmanuel Medard as New CEO

BGI-Ethiopia appoints Pierre-Emmanuel Medard as CEO, succeeding Herve Milhade. The leadership change aligns with the company’s Vision 2028 strategy to double production and boost market share in Ethiopia’s beverage sector.

M-Pesa Finally Gets Green Light to Launch Mobile Fuel Payments Across Ethiopia

Safaricom's M-Pesa introduces mobile fuel payment in Ethiopia following government approval. The service, starting at Bole Total, expands to 2,000 stations nationwide.

IFC Appoints Ethiopis Tafara as New Vice President for Africa

The International Finance Corporation (IFC) names Ethiopis Tafara as its new Vice President for Africa to lead $17B in investments across infrastructure, finance, and key sectors.

Dashen Bank Secures $40 Million AfDB Trade Finance Guarantee

Dashen Bank becomes the first private bank in Ethiopia to receive a $40 million trade finance guarantee from AfDB, boosting import-export support and advancing AfCFTA goals.

Ethio Telecom IPO Sells Just 10.7% of Shares, Raises 3.2 Billion Birr

Ethio Telecom’s much-anticipated IPO sold only 10.7% of its 100 million shares, raising 3.2 billion birr. Discover what happened, who invested, and what comes next in Ethiopia’s first-ever public offering.

Boeing Opens Africa Office in Ethiopia: A Game-Changer for African Aviation and Economy

Boeing’s first Africa office opens in Addis Ababa, Ethiopia, boosting the country’s aviation sector and enhancing Africa’s global economic role. Discover the strategic impact.

Ethiopian Reinsurance (EthioRe) Welcomes New CEO Mr. Netsanet Lemesa

Ethiopian Reinsurance (EthioRe) officially welcomes Mr. Netsanet Lemesa as its new CEO in a memorable ceremony, marking a new chapter in Ethiopia’s reinsurance sector.

Ethiopian Capital Market Authority Grants Licenses to Five New Market Players

The Ethiopian Capital Market Authority (ECMA) grants licenses to five new capital market service providers, introducing Ethiopia’s first investment banks and expanding the financial sector.

Ethiopia’s Second Special Forex Auction Sees Rates Surge to ETB 135.62 per USD

Ethiopia's central bank sold $60M in a foreign exchange auction at ETB 135.62 per USD, exceeding bank rates. Learn how this impacts forex seekers, inflation, and the black market.

Dashen Bank Introduces Ethiopia's First Banking Super App

Dashen Bank has announced the launch of a new digital platform, the Dashen Bank Super App, which it claims is the first of its kind in Ethiopia’s banking sector

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