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Berhan management apologizes for record-low dividends
Berhan International Bank’s earnings per share for the fiscal year ended July 2023 has dropped to an all time low at a little over...
Dashen’s forex mobilization doubles in three years, marks USD1 billion
Dashen Bank ended the fiscal year last June mobilizing a billion USD worth foreign currencies, a 43 percent increase from its performance the previous...
War causes total destruction of Sheba leathers
A 2.9 billion birr property was reduced to ashes The war in Tigray destroyed one of Ethiopia's leading leather manufacturers, Sheba Leather Industries, according to...
Amhara Insurance in pipeline with 2 bln birr capital
Promoters of Amhara Insurance are finalizing preparations to establish an insurance firm with two billion birr in paid-up capital. Amhara Bank is expected to...
New central bank’s governor reveals priorities to get economy back on feet
The newly appointed National Bank of Ethiopia (NBE) governor, Mamo Mihretu, has laid out his strategic priorities for mending Ethiopia's economy, which has been...
Central bank sevenfolds microfinance capital threshold
The National Bank of Ethiopia (NBE) has introduced a new directive that compels microfinance institutions (MFIs) to meet a minimum paid-up capital requirement 75...
Government expects saving USD100 million from banning selected import items
supermarkets fear shutdown The central bank of Ethiopia expects saving close to 100 million dollar per year, from the ban imposed on selected import items. In...
Central bank considers placing ban on Franco-Valuta
Bank statement from source country mandatory for Franco-Valuta imports The National Bank of Ethiopia (NBE) will soon place a ban on some items that have...
Central bank raises insurers’ minimum paid-up capital by six-fold
Only seven insurers meet the new threshold The National Bank of Ethiopia (NBE) raised the minimum paid-up capital of insurance firms by six-fold. The revised...
Corporation reimburses record high insurance claims
Aviation calamity costs EIC 3.8 billion birr The Ethiopian Insurance Corporation (EIC) settled 5.4 billion birr in insurance claims during the just ended 2021/2 Ethiopian...
