Awash Bank S.C. has been granted the license to enter the Ethiopian capital market ecosystem. The license was issued on November 19 to Awash Capital, a subsidiary company of Awash Bank S.C. Awash Capital is the fourth investment bank to operate as a capital market service provider in Ethiopia. Commercial Bank of Ethiopia Investment Bank S.C.,…
Ethiopian Birr today fell to record low against US dollar in black market. The Ethiopian government has taken a variety of steps in recent months to kill the foreign exchange parallel market. The birr fell to 181.4 against US dollar on Wednesday November 19, 2025 in black market. While the Commercial Bank of Ethiopia and…
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 6:00 pm to 9:45 pm, all digital payment services of our bank, mobile banking, ATM machines, post machines and Core…
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 journey in July last year when the government introduced macro economic reforms and liberalized foreign exchange market. Back then, official…
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 Br just two days ago. In late May, the National Bank of Ethiopia (NBE) expanded FX access—raising personal travel limits…
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 Market Authority (ECMA) granted licenses to two investment banks. CBE Capital S.C, affiliated with the Commercial Bank of Ethiopia (CBE),…
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 in Addis Ababa. Milkii, the digital loan service, will not only expand the access to digital banking but also ensure…
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 no money. Perpetrators have been identified. They are under custody and being investigated by law enforcement agencies, CBE said. Since…
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 to local banks. According to a statement issued by the Ethiopian banking regulator, 27 banks participated in today’s auction and…