Team Shega

NBE Sets One-Month Deadline for Digital ID Requirement to Open Bank Accounts in Addis Ababa

The National Bank of Ethiopia has placed Fayda national digital IDs as a precondition for opening bank accounts in the capital by January 1st.

80% of CBE’s Transactions Are Now Digital

CBE has 30 million mobile money customers, nearly 10 million mobile banking users, and around 21 million debit cardholders.

Ethiopian Ministers Approve Nearly 600 Billion Birr Additional Budget

Parliament ratified the country’s biggest budget bill of 971.2 billion birr in early July, before the recent macroeconomic reforms that entailed the floating of the Birr.

Ethiopian Taxpayers Rush to Printing Press as Government Puts Three Month Deadline for QR Codes on Receipts

The Revenues Ministry has issued an ordinance that requires the printing of QR codes on payment receipts issued by Ethiopian taxpayers in eight cities within three months.

EthSwitch Sees P2P Transactions Overtake ATMs in Value

Although ATM transactions maintained a higher volume at 94.5 million, their total value reached 123.2 billion birr, trailing behind P2P transfers.

Ministry of Finance Pulls Back Franco Valuta Permits

According to the Ministry, Ethiopia’s banks are currently capable of mobilizing adequate foreign exchange to facilitate imports through the formal banking system.