Tag: Forex

Metal and engineering industries have expressed their concerns that many manufactures will likely be forced to close shops due to lack of access and shortage of foreign currency to import raw materials, while traders have the flexibility to import finished metal and engineering products.

The International Air Transport Association (IATA) this week announced that foreign airlines operating to Ethiopia have USD 70 million blocked funds in the country.

The \Ministry of Finance unveiled what it called a “Home-Grown economic Reform” this week, spearheaded by the Office of the Prime Minister with the involvement of various policy institutions including the National Bank of Ethiopia (NBE), at an event held on Wednesday, August 28, 2019, at Sheraton Addis Hotel in Addis Ababa.

With the Ethiopian Horticultural industry on the rise and becoming an important source of foreign exchange to the nation, the Ethiopian Horticultural Producer Exporters Association in collaboration with Addis Ababa University has held a timely research conference on agro-logistics inside the Intercontinental Hotel last weekend.

Following the removal of the National Bank of Ethiopia’s directive that compels oil and gas companies to open a foreign bank account in Ethiopia international oil companies have shown interest to take new concessions.