Government

Ethiopia’s Central Bank Maintains 15% Policy Rate, Slightly Uncaps Credit

Signaling another year characterized by taming the double-digit inflationary beast, Ethiopia’s central bank has widened the annual credit growth cap by a timid 4%.

Ethiopia's Documents Registration Agency Debuts Appointment Booking Platform

The Document Authentication & Registration Service has deployed, Qetero a digital appointment booking platform developed by Ethiopian developers.

Ethiopia Opens Financial Sector to Foreign Banks

Some members of parliament have raised concerns over the feasibility of opening the banking sector to foreign banks amid prevailing constraints.

Audit Review Uncovers Crosscutting Inefficiencies in Ethiopia's Passport Services

Delays in passport issuance, unauthorized penalties and even poor sanitation at bathrooms were highlighted in a post audit parliamentary review of Ethiopia's Immigration & Citizenship Services.

European Investors Voice Concerns Over Birr Crunch

As Ethiopia's FX reserves signal an increase following a transition to a market based exchange regime policy, investors are struggling to source local currency.

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.

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.

Parliament Green Lights 900 Billion Birr Debt Security Issuance for CBE Reform

CBE’s non-performing loans are primarily comprised of obligations accrued from a host of SOE's. Above 90% of this debt is owed by three troubled SOEs that have not regularly serviced their loans.