The Commercial Bank of Ethiopia (CBE) registers 11 percent growth in forex mobilisation during the first quarter of the existing fiscal year. It has made such a stride despite a COVID-19 driven economic slowdown that has brought down remittance and slowed trade activities across the globe. The Bank secured 613 million dollars from export and […]
CBE’s Forex Gains Soars, Profits Surges Read More »
United Insurance reports a 15 percent upsurge in profit, despite an increase in its paid claims during the last fiscal year. The two-decades old Insurance Firm netted 145.1 million Br in the reporting period, while its premium grew by over 20 percent. Non-life Insurance products dominated its portfolio. The share of general insurance from the
United Insurance Profit Up, Shareholders Voted Against Paid-Up Increase Read More »
Dashen Bank, one of the most profitable private financial institutions in Ethiopia, has signed a deal with Thunes, a global payment network, to facilitate international transfers quickly with an affordable rate. The B2B company will use its solution to connect Dashen with mobile wallet providers, banks, technology companies, and money transfer operators operating in more
Dashen Partners with Thunes for Swift Money Transfer to Ethiopia Read More »
Ministry of Mines extends the deadline set for Kefi Minerals to bring finance for the Tulu Kapi Gold Project in Wollega, Oromia Region. The Ministry informed the executives of Kefi to procure the necessary finance for the gold exploration project before the end of January 2022. Kefi confirmed to the Ministry its intention to launch
Ministry Gives 3 Months Deadline for Kefi Minerals to Bring Finance Read More »
Ethiopian popular singer, Tariku Gankisi, called for talks to end the war in the north Ethiopia. Tariku, who is known for hit song, Dishta Gina, made the remark during pro-millitary rally held on Sunday November 07, 2021. “”Let no youth go to the front lines to fight, let the elders go holding the fresh grass
Popular Ethiopian Artist Calls for Talks to End the War in North Read More »
Ethiopians using mobile banking services grew by more than six folds since the coronavirus pandemic came to the picture, according to the National Bank of Ethiopia. Until the end of the last month, there were over 20 million mobile banking users, a significant jump from 3.3 million customers registered before coronavirus strucks. Cash-based transactions discouraging measures
Ethiopia’s Mobile Banking Users Grew Six-Fold Since COVID-19 Read More »
Board members of Boeing will pay 237 million dollars settlement for turning a blind eye to safety issues when they greenlighted 737 max airplanes whose crashes in Ethiopia and Indonesia caused 20 billion dollars damage to aviation company. The settlement will be paid by insurers covering Boeing’s directors and executives and it will be handed
Boeing Board to Pay $237.5 million settlement of 737 MAX shareholder lawsuit Read More »
Awash Insurance reports a 270 million Br profit during the last fiscal year, according to its audit report released last Saturday. The 43 percent jump in its gross written helped the insurer to register a remarkable profit in the reporting period, its executives said. The firm managed to witness a profit upsurge, despite the impacts
Awash Remains Most Profitable Insurance Firm in Ethiopia Read More »
Petroleum suppliers are the latest to be exempted from the loan freezing imposed since August 2021. The exemption has been made after the Ethiopian Petroleum Supply Enterprise notified the officials of the National Bank of Ethiopia that the freezing is impacting the oil supply. While it does not apply to petroleum dealers, more than two
Petroleum Suppliers Exempted from Loan Freezing Read More »
The suspension of the Norwegian Refugee Council (NRC) extended by two months, sources said. The humanitarian organisation was suspended three months ago after being accused of disseminating “misinformation,” employing foreign nationals without appropriate work permits. The same measure was taken against MSF, which was allegedly “illegally imported” and used satellite radio equipment that wasn’t properly
Authorities Extends NRC’s suspension in Ethiopia by two months Read More »
