Ethiopian Stock Exchange ESX is going to formally begin operations on Friday January 10. The bourse was initially due to be launched in November last year but technical issues delayed the launch. The newest stock exchange in Africa is hoping to list around 50 companies. Business entities from Kenya, South Africa and Nigeria have shown…
The Monetary Policy Committee (MPC) of the National Bank of Ethiopia has announced that the inflation in Ethiopia has reached the lowest in 5 years. The committee proposes financial policies to be adopted by the NBE Board. After its meeting on Tuesday, MPC issued a statement claiming that current inflation in Ethiopia is 16.9%. Food…
Is Ethiopia considering legalization of crypto currency? Mamo Mehretu, the chief of Ethiopian National Bank, today said NBE may issue guidelines to use cryptocurrency. ️ Use of digital currency is not legal in Ethiopia. But in a talk, NBE chief implied that Ethiopia could follow other countries if crypto currency is legalized by other countries….
Technical Issues have caused a delay in the launching of the Ethiopian Stock Exchange (ESX). Last minute technical problems dimmed the prospects of the inauguration of the bourse this month. Ethiopian Capital Market Authority head and other senior government officials have been claiming that the ESX will start operations in late November. Reportedly, all the…
Ethiopia Stock Exchange ESX, likely to be inaugurated in coming days, is hoping to list over 90 businesses on its boards reportedly. The number of initial public offerings (IPOs) at the maiden bourse could surpass the stocks listed on the Kenyan stock exchange (KSE). So far, ESX has raised 1.6 billion birr in capital against…
The long-awaited Ethiopian Stock Exchange (ESX) will officially start its work this month. The stock market, established on the basis of public and private partnership, has been raising required capital by engaging local and foreign players. Ethiopian Securities Market announced in a press release in March this year that it had raised 1.5 billion birr…
The government of Ethiopia has cancelled Franco Valuta. Franco Valuta was allowed by the Ethiopian government over 2 months ago. Under Franco Valuta, importers can bypass conventional banking channels, use their foreign accounts to import items allowed under the policy. It is generally introduced when there is shortage of foreign currency in the country. In…
National Bank of Ethiopia (NBE) today lifted restrictions on the transfer of money from bank accounts to Telebirr. The Ethiopian banking regulator made this decision after it received complaints about private denying transfer of money to Telebirr. Last month, Ethio Telecom offered 100 million shares for sale. One share was priced at 333 birr. The…
In Tog Wajaale Ethiopia, mobile phone service has been suspended. Tog Wajaale is situated on the border between Ethiopia and Somaliland. Tog Wajaale is the hub of Ethiopian currency’s black market. Ethiopians and Somalis from across the border who want to buy dollars head to Tog Wajaale where hundreds of black market networks are operating….