The Commercial Bank of Ethiopia (CBE) has temporarily suspended services on November 16, 2025. The CBE has issued a statement in this regard. “In connection with system upgrade work, on Sunday November 16, 2025 from…
Ethiopian currency birr has dropped to a new record low against US dollar in parallel market. The US dollar is being sold for around 174 in the black market. Ethiopian currency birr started its downward…
Ethiopian Birr has fallen to a new low against US Dollar in black market. The USD/ETB black-market rate has climbed sharply to 160.75 Br/USD, up 0.37% . This marks a significant rise from around 157…
Ethiopia’s first investment bank Wegagen Capital has formally launched operations. The launching ceremony of Wegagen Capital Investment Bank S.C. was held at Hilton hotel in Addis Ababa last night. In March this year, Ethiopian Capital…
Oromia Bank has released a mobile phone application called “Milkii”. Using the application, the customers can get loans without guarantee. The bank launched this application on Wednesday at a ceremony held at Hyatt Regency Hotel…
The Commercial Bank of Ethiopia (CBE) today denied rumors that it had been robbed of 7.7 billion birrs. The bank said that the attempt to illegally transfer money had been successfully foiled and it lost…
The National Bank of Ethiopia today held the second foreign exchange auction. It sold foreign currency especially US dollar for birr to local banks. Yesterday NBE announced that on Tuesday it would sell $60 million…
National Bank of Ethiopia today announced to conduct the second FX auction on Tuesday February 25, 2025. Sixty million US Dollars will be sold to banks. In July last year, Ethiopian government introduced macro economic…
National Bank of Ethiopia (NBE) is working on a plan to forcibly merge local Ethiopian banks. The decision is being taken ahead of the entry of foreign banks in the Ethiopian banking industry. National Bank…
Price of US dollar has reached 150 birr in the Ethiopian black market. Since May last year, the Ethiopian government has been trying to kill the foreign exchange black market. Today’s official birr-dollar exchange rate…