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Ethiopia has unveiled a pioneering new ‘regulatory sandbox’ aimed at nurturing fintech startups and driving innovation across the nation’s financial sector. The sandbox, launched in the capital Addis Ababa, will create a controlled environment where firms can test products and services without fully adhering to regulations. It aims to turbocharge the development of Ethiopia’s fledgling […]

Ethiopia has voiced strong concerns over Egypt’s recent military deployment to Somalia, warning it risks inflaming tensions in the volatile Horn of Africa region. In a statement on Thursday, Ethiopia’s foreign ministry said it viewed the transition from the African Union peacekeeping mission in Somalia to a new force as “fraught with dangers” without proper

 Ethiopia has requested that China resume suspended debt disbursements and provide more relief and investment, its finance minister said last week, as the country seeks to boost its economy after four years without new funding from the Asian giant. Finance Minister Ahmed Shide met with China’s Vice Minister of Commerce Sheng Qiuping on August 21st

Ethiopia’s negotiations to restructure over one billion dollars in sovereign debt have stalled after international bondholders rejected the government’s proposal for a 20 percent reduction in the principal owed. In a statement, a group representing more than 40 percent of creditors said they were disappointed by signals from Addis Ababa that it may slash 200

Ethiopia has widened the scope of import payments allowed in foreign currency with a franco valuta permit as it tries to manage the fallout from the radical depreciation of the birr over the last two weeks. The finance ministry instructed customs authorities to allow more goods to clear ports using so-called Franco Valuta transactions, in

Dashen Bank has unveiled a new financing service called “Dube Ale-Interest Free Banking” that complies with Islamic sharia law principles. The pioneering installment purchase program is powered by EagleLion’s customized mobile app. In a first for Ethiopia, the scheme allows customers to make purchases on credit from participating merchants and pay later over periods ranging

Ethiopia will construct a key rail connection aimed at reducing its dependence on trucks for petroleum imports, officials said. The planned project will connect the state-run Awash Petroleum Depot in Afar to the Ethio-Djibouti Railway by September 2024. Currently all fuel is transported from Djibouti by truck, which is inefficient and mostly causing shortages due

In the wake of Ethiopia’s decision to float its national currency, the birr, against major foreign currencies, the country’s banks have seized the opportunity to widen their profit margins on foreign exchange transactions. Data compiled by regional analyst shows that as of August 13th, the average selling-buying rate spread charged by Ethiopian banks has skyrocketed