Tuesday, February 20, 2024

Author Name

Samson Berhane

Total Articles by the Author


Banks call for amendment to mandatory bond

Commercial banks urged Officials of the National Bank of Ethiopia (NBE) to amend the mandatory rule, which demands financial institutions invest one percent of their outstanding credit on a bond issued to support the Development Bank of Ethiopia (DBE).

Somali region’s thriving Mobile banking service

For visitors who come from other parts of Ethiopia, the seat of the Somali Regional State, Jigijiga is a city full of surprises.

Merkato: Addis’ Wild West

Merkato, the largest open market in Ethiopia and possibly Africa, has a special meaning in Tedros Fekiru’s life. It is a place where he was born, raised and learned everything in life. It is also where the 43 year-old trader started business and came to own a clothing retail store and furniture house.

New banks required to collect 5 billion Birr within seven years

The National Bank of Ethiopia (NBE) directed new entrants to the banking industry to increase their paid-up capital to five billion birr within seven years.

The Solar market in rope halters

Tinsaye Tenaw, a farmer living in the middle of Abay Bereha (part of the Blue Nile gorge located between Goha Tsion and Dejene towns), never had electricity at his home.

New IMF allocation to boost Ethiopia’s international reserves by over 10%

Ethiopia’s gross international reserve, deposited in gold and dollar, is expected to increase by at least 10 percent from a new issuance of International Monetary Fund’s Special Drawing Rights (SDR).

Co-founder of East African Bottling wins court injunction

The foreclosure proceedings announced to sell 32,624 shares of the East African Bottling SC was suspended after the stockholder, Nigussie Hailu, obtained an injunction order subsequent to a deal to pay the money the government wants to recover from the sale within two weeks.

The digital payment rush

Walking the streets of Bole and coming across dozens of hotels constructed one after the other, one witnesses relics from a time when the hospitality sector was booming and businesses scrambled to get a piece of the highly sought out pie.

NBE ready to help Banks facing liquidity shortages

The National Bank of Ethiopia (NBE) affirmed its readiness to loan money to any of the 19 commercial banks if they experience liquidity shortages, even though they are in good condition at the moment.

New bill allows foreigners open investment banks

Investment banks, in which both foreign and local investors can invest in, will not be allowed to collect deposits and provide loans under the new capital market draft proclamation, The Reporter has learnt.