𝗢𝗿𝗼𝗺𝗶𝗮 𝗥𝗲𝗴𝗶𝗼𝗻 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗲𝘀 𝗢𝘃𝗲𝗿 𝟭,𝟰𝟬𝟬 𝗧𝗿𝗮𝗰𝘁𝗼𝗿𝘀 𝘁𝗼 𝗕𝗼𝗼𝘀𝘁 𝗙𝗮𝗿𝗺 𝗠𝗲𝗰𝗵𝗮𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻
Ethiopia's Oromia region has handed over 1,402 tractors to farmers and agricultural groups in a major push to modernize farming practices. The initiative, overseen by Regional President Shimelis Abdisa, aims to enhance productivity in Ethiopia's key agricultural zone.
The tractors were allocated to registered farmers, cooperatives, and unions through an official application process. This distribution marks one of Oromia's largest single deployments of farm equipment to date.
#FarmMechanization #Agribusiness #Agritech #Agriculture #Farming
@PatternFin
Ethiopia's Oromia region has handed over 1,402 tractors to farmers and agricultural groups in a major push to modernize farming practices. The initiative, overseen by Regional President Shimelis Abdisa, aims to enhance productivity in Ethiopia's key agricultural zone.
The tractors were allocated to registered farmers, cooperatives, and unions through an official application process. This distribution marks one of Oromia's largest single deployments of farm equipment to date.
#FarmMechanization #Agribusiness #Agritech #Agriculture #Farming
@PatternFin
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Recap of Today's Business News
Ethiopia and Uganda have finalized a transformative air transport deal that removes all bilateral flight restrictions, allowing airlines from both nations unlimited access to routes and destinations. Signed during high-level talks in Addis Ababa, the agreement marks a major step toward Africa's single aviation market vision. (EBR)
Ethiopia has unloaded 1.07 million metric tons of fertilizer at Djibouti Port - 45% of its 2.4M ton annual target - to support its 2024 farming season. The 20th shipment (55,000-ton DAP delivery) arrived this week via MV DIONISIS. (EBR)
Ethiopia has announced a major overhaul of its national tourism policy, aiming to enhance its competitiveness and capitalize on its rich cultural and natural attractions. The updated framework, replacing a 13-year-old strategy, focuses on digital innovation, sustainable tourism, and improved governance to boost investment and visitor numbers. (EBR)
A recent study conducted in elementary schools across Ethiopia has revealed a concerning level of literacy skills among students. The study, which assessed 5,840 students from 292 schools in 11 languages, found that 48% of students struggled to distinguish letters, words, and sounds properly. This issue was particularly pronounced in tasks such as first sound variation and letter recognition. (Capital)
The Chinese government has issued a strong statement condemning the United States’ recent imposition of tariffs on its trading partners, including China. Beijing has accused Washington of violating World Trade Organization (WTO) rules, undermining the multilateral trading system, and disrupting the global economic order. (Capital)
National Bank of Ethiopia (NBE) is implementing a new directive that requires insurance firms to adapt to a risk-based capital framework, with a 150pc capital-to-risk ratio. The adjustment seeks to provide robust financial backing for written premiums, ensuring transparency and building policyholder confidence. Industry leaders, however, face obstacles such as inadequate expertise and a dwindling talent pool. (Addis Fortune)
@PatternFin
Ethiopia and Uganda have finalized a transformative air transport deal that removes all bilateral flight restrictions, allowing airlines from both nations unlimited access to routes and destinations. Signed during high-level talks in Addis Ababa, the agreement marks a major step toward Africa's single aviation market vision. (EBR)
Ethiopia has unloaded 1.07 million metric tons of fertilizer at Djibouti Port - 45% of its 2.4M ton annual target - to support its 2024 farming season. The 20th shipment (55,000-ton DAP delivery) arrived this week via MV DIONISIS. (EBR)
Ethiopia has announced a major overhaul of its national tourism policy, aiming to enhance its competitiveness and capitalize on its rich cultural and natural attractions. The updated framework, replacing a 13-year-old strategy, focuses on digital innovation, sustainable tourism, and improved governance to boost investment and visitor numbers. (EBR)
A recent study conducted in elementary schools across Ethiopia has revealed a concerning level of literacy skills among students. The study, which assessed 5,840 students from 292 schools in 11 languages, found that 48% of students struggled to distinguish letters, words, and sounds properly. This issue was particularly pronounced in tasks such as first sound variation and letter recognition. (Capital)
The Chinese government has issued a strong statement condemning the United States’ recent imposition of tariffs on its trading partners, including China. Beijing has accused Washington of violating World Trade Organization (WTO) rules, undermining the multilateral trading system, and disrupting the global economic order. (Capital)
National Bank of Ethiopia (NBE) is implementing a new directive that requires insurance firms to adapt to a risk-based capital framework, with a 150pc capital-to-risk ratio. The adjustment seeks to provide robust financial backing for written premiums, ensuring transparency and building policyholder confidence. Industry leaders, however, face obstacles such as inadequate expertise and a dwindling talent pool. (Addis Fortune)
@PatternFin
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𝗖𝗼𝗼𝗽 𝗕𝗮𝗻𝗸, 𝗨𝗻𝗶𝘁𝗲𝗱 𝗔𝗳𝗿𝗶𝗰𝗮 𝗟𝗼𝗴𝗶𝘀𝘁𝗶𝗰𝘀 𝗝𝗼𝗶𝗻 𝗙𝗼𝗿𝗰𝗲𝘀 𝘁𝗼 𝗦𝘂𝗽𝗲𝗿𝗰𝗵𝗮𝗿𝗴𝗲 𝗘𝘁𝗵𝗶𝗼𝗽𝗶𝗮’𝘀 𝗟𝗼𝗴𝗶𝘀𝘁𝗶𝗰𝘀
The Cooperative Bank of Oromia and United Africa Logistics Organization have signed a Memorandum of Understanding (MoU) that promises to revolutionize the nation’s logistics and transport sector. This strategic partnership is set to usher in a new era of efficiency, innovation, and opportunity for businesses and communities alike.
The agreement will modernize Ethiopia’s logistics landscape by introducing a cutting-edge financial tools. This advancement is expected to slash operational costs, accelerate supply chains, and empower small and medium-sized logistics firms to thrive in a competitive market.
#AfCFTA
#AfCFTAReady
The Cooperative Bank of Oromia and United Africa Logistics Organization have signed a Memorandum of Understanding (MoU) that promises to revolutionize the nation’s logistics and transport sector. This strategic partnership is set to usher in a new era of efficiency, innovation, and opportunity for businesses and communities alike.
The agreement will modernize Ethiopia’s logistics landscape by introducing a cutting-edge financial tools. This advancement is expected to slash operational costs, accelerate supply chains, and empower small and medium-sized logistics firms to thrive in a competitive market.
#AfCFTA
#AfCFTAReady
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𝗦𝗶𝗸𝗲𝘁 𝗕𝗮𝗻𝗸 𝗖𝗹𝗮𝗶𝗺𝘀 𝗔𝘁 𝘁𝗵𝗲 𝗙𝗼𝗿𝗲𝗳𝗿𝗼𝗻𝘁 𝗼𝗳 𝗘𝘁𝗵𝗶𝗼𝗽𝗶𝗮’𝘀 𝗠𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
In a high-profile panel discussion titled “Financial Provision for Industrial Productivity” held yesterday, Siket Bank brought together key stakeholders from government, industry, and finance to explore the pivotal role of finance in driving Ethiopia’s industrial sector forward. Panelists underscored the importance of innovative financial solutions in scaling micro-enterprises and transforming them into competitive industrial players. The discussion also called for urgent reforms to improve access to credit for entrepreneurs.
Siket Bank highlighted how its financial products and services have empowered local businesses to become leaders in Ethiopia’s manufacturing landscape.
In a high-profile panel discussion titled “Financial Provision for Industrial Productivity” held yesterday, Siket Bank brought together key stakeholders from government, industry, and finance to explore the pivotal role of finance in driving Ethiopia’s industrial sector forward. Panelists underscored the importance of innovative financial solutions in scaling micro-enterprises and transforming them into competitive industrial players. The discussion also called for urgent reforms to improve access to credit for entrepreneurs.
Siket Bank highlighted how its financial products and services have empowered local businesses to become leaders in Ethiopia’s manufacturing landscape.
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Wegagen Bank Prospectus for Registration of Shares.pdf
1.3 MB
Check out the prospectus of Wegagen Bank, the first listed company with the Ethiopian Securities Exchange (ESX).
#WegagenBank
#ESX
@PatternFin
#WegagenBank
#ESX
@PatternFin
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🇿🇦Absa Group (South Africa): $1.201B
🇪🇬Banque Misr (Egypt): $1.19B
🇪🇬CIB Egypt (Egypt): $1.091B
🇿🇦Standard Bank South Africa (South Africa): $1.069B
🇿🇦Nedbank (South Africa): $876.4M
Zenith Bank Plc and Guaranty Trust are the top banks with $670.6M and $662.1M, respectively. Record-breaking locally, but not enough to break into Africa’s billion-dollar profit club.
Nigerian banks had to deal with a devalued naira in 2024, but they were not alone. The Egyptian government floated the pound in March 2024, and the currency fell by 60%. The South African rand remained relatively stable in 2024 after a tumultuous time the year before.
🇪🇬Banque Misr (Egypt): $1.19B
🇪🇬CIB Egypt (Egypt): $1.091B
🇿🇦Standard Bank South Africa (South Africa): $1.069B
🇿🇦Nedbank (South Africa): $876.4M
Zenith Bank Plc and Guaranty Trust are the top banks with $670.6M and $662.1M, respectively. Record-breaking locally, but not enough to break into Africa’s billion-dollar profit club.
Nigerian banks had to deal with a devalued naira in 2024, but they were not alone. The Egyptian government floated the pound in March 2024, and the currency fell by 60%. The South African rand remained relatively stable in 2024 after a tumultuous time the year before.
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ስኬት ባንክ በራሱ ለመቀጠል የሚያስችል የፋይናንስ አቅም እንዳለው አስታወቀ
በቅርቡ ከተቋቋሙት የኢትዮጵያ ንግድ ባንኮች አንዱ የሆነው ስኬት ባንክ ከሌሎች ባንኮች ጋር ሳይዋሃድ ሪሱን ችሎ ለመቀጠል የሚያስችል የፋይናንስ አቅም እንዳለው አስታውቋል።
ባንኩ የ2016 በጀት ዓመት ከ1.6 ቢሊዮን ብር በላይ ትርፍ ማስመዝገቡንና የተከፈለ ካፒታሉ ከ8 ቢሊዮን ብር በላይ መድረሱን ዋና ሥራ አስፈጻሚው አቶ ዳምጤ አለማየሁ ገልጸዋል።
ባንኩ ከ600,000 በላይ ደንበኞችና በፍጥነት እየሰፋ የሚሄድ የቅርንጫፍ አውታረ መረብ ያለው ሲሆን፣ የኢትዮጵያ ብሔራዊ ባንክ የባንክ ዘርፉን ለማጠናከር ውህደትን እያበረታታ ቢሆንም ስኬት ባንክ ዝቅተኛውን የ5 ቢሊዮን ብር የተከፈለ ካፒታል መስፈርት ቀድሞውኑ አልፏል።
በተጨማሪም ስኬት ባንክ ከዓለም ባንክ ጋር በመተባበር የብድር አመልካቾችን የስነ ልቦና ፕሮፋይል በመገምገም የብድር ብቁነትን የሚወስን አዲስ ሳይኮሜትሪክ ሞዴል ይፋ አድርጓል።
ይህ ተነሳሽነት ዋስትና የሌላቸውን አነስተኛ የንግድ ሥራ ባለቤቶችን ለመደገፍ ያለመ ሲሆን ከሀገሪቱ "ኢትዮጵያ ታምርት" እንቅስቃሴ ጋር የሚጣጣም ነው ብሏል።
ዋና ሥራ አስፈጻሚው የውጭ ባንኮች ወደ ኢትዮጵያ ገበያ መምጣት ለባንካቸው ዕድገት ዕድል እንደሚፈጥርላቸው ያላቸውን እምነት ገልጸዋል።
በቅርቡ ከተቋቋሙት የኢትዮጵያ ንግድ ባንኮች አንዱ የሆነው ስኬት ባንክ ከሌሎች ባንኮች ጋር ሳይዋሃድ ሪሱን ችሎ ለመቀጠል የሚያስችል የፋይናንስ አቅም እንዳለው አስታውቋል።
ባንኩ የ2016 በጀት ዓመት ከ1.6 ቢሊዮን ብር በላይ ትርፍ ማስመዝገቡንና የተከፈለ ካፒታሉ ከ8 ቢሊዮን ብር በላይ መድረሱን ዋና ሥራ አስፈጻሚው አቶ ዳምጤ አለማየሁ ገልጸዋል።
ባንኩ ከ600,000 በላይ ደንበኞችና በፍጥነት እየሰፋ የሚሄድ የቅርንጫፍ አውታረ መረብ ያለው ሲሆን፣ የኢትዮጵያ ብሔራዊ ባንክ የባንክ ዘርፉን ለማጠናከር ውህደትን እያበረታታ ቢሆንም ስኬት ባንክ ዝቅተኛውን የ5 ቢሊዮን ብር የተከፈለ ካፒታል መስፈርት ቀድሞውኑ አልፏል።
በተጨማሪም ስኬት ባንክ ከዓለም ባንክ ጋር በመተባበር የብድር አመልካቾችን የስነ ልቦና ፕሮፋይል በመገምገም የብድር ብቁነትን የሚወስን አዲስ ሳይኮሜትሪክ ሞዴል ይፋ አድርጓል።
ይህ ተነሳሽነት ዋስትና የሌላቸውን አነስተኛ የንግድ ሥራ ባለቤቶችን ለመደገፍ ያለመ ሲሆን ከሀገሪቱ "ኢትዮጵያ ታምርት" እንቅስቃሴ ጋር የሚጣጣም ነው ብሏል።
ዋና ሥራ አስፈጻሚው የውጭ ባንኮች ወደ ኢትዮጵያ ገበያ መምጣት ለባንካቸው ዕድገት ዕድል እንደሚፈጥርላቸው ያላቸውን እምነት ገልጸዋል።
𝗘𝗮𝘀𝘁 𝗔𝗳𝗿𝗶𝗰𝗮 𝗨𝗻𝘃𝗲𝗶𝗹𝘀 𝗙𝗶𝗿𝘀𝘁 𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗦𝘁𝗼𝗰𝗸 𝗜𝗻𝗱𝗲𝘅 𝘁𝗼 𝗕𝗼𝗼𝘀𝘁 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻
The East African Securities Exchanges Association (EASEA) has launched the EAE 20 Share Index, a new tool designed to track the performance of leading companies listed on stock markets across East Africa. The index includes major firms from Kenya, Tanzania, Rwanda, and Uganda, reflecting the region’s growing financial integration.
#EastAfricanSecuritiesExchangesAssociation
#EASEA
The East African Securities Exchanges Association (EASEA) has launched the EAE 20 Share Index, a new tool designed to track the performance of leading companies listed on stock markets across East Africa. The index includes major firms from Kenya, Tanzania, Rwanda, and Uganda, reflecting the region’s growing financial integration.
#EastAfricanSecuritiesExchangesAssociation
#EASEA
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Why Did Meles Oppose....pdf
24.2 MB
📢 Why Did Meles Oppose Financial Sector Liberalization in Africa?
A look into his perspectives of the pitfalls of financial sector reforms in Africa—exploring how liberalization led to high non-performing loans, excess liquidity, and rent-seeking, while failing to address market failures. 📉💰
He Concludes state-led policies and neo-liberal reforms both hit dead ends, leaving Africa’s financial sector in need of a fresh approach.
A look into his perspectives of the pitfalls of financial sector reforms in Africa—exploring how liberalization led to high non-performing loans, excess liquidity, and rent-seeking, while failing to address market failures. 📉💰
He Concludes state-led policies and neo-liberal reforms both hit dead ends, leaving Africa’s financial sector in need of a fresh approach.
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This article explores the evolving role of accounting and finance professionals in Ethiopia’s shifting economic landscape.
Drop your comments below!
By M Tesfaye
@PatternFin
Drop your comments below!
By M Tesfaye
@PatternFin
" 4 ኪሎ ቤተመንግስት ዙሪያ ያሉ መንገዶች ከዚህ በኋላ በአንድ አቅጣጫ ብቻ አገልግሎት ይሰጣሉ " - የአዲስ አበባ ትራፊክ ማኔጅመንት ባለስልጣን
ከዚህ በኋላ 4 ኪሎ ቤተመንግስት ዙሪያ ያሉ መንገዶች በአንድ አቅጣጫ ብቻ አገልግሎት እንደሚሰጡ የአዲስ አበባ ትራፊክ ማኔጅመንት ባለስልጣን ለቲክቫህ ኢትዮጵያ አስታውቋል።
በመሆኑም ፦
- ከጥይት ቤት እስከ ፓርላማ ትራፊክ መብራት፣
- ከቤተመንግስት ፖርክንግ እስከ ጥይት ቤት
- ከፓርላማ ትራፊክ መብራት እስከ ሳይንስ ሙዝየም ድረስ ያሉ መንገዶች ቀድሞ ከነበረው ባለሁለት አቅጣጫ መንገድ ወደ አንድ አቅጣጫ መንገድ ተቀይረዋል።
ቲክቫህ ኢትዮጵያ የአዲስ አበባ ትራፊክ ማኔጅመንት ባለስልጣን ዋና ዳይሬክተር አቶ ክበበው ሚደቅሳን መስመሮቹ እንደ ቀድሞው ባለ ሁለት አቅጣጫ ሆነው አገልግሎት መስጠታቸውን መቼ ይጀምራሉ ? ሲል ጠይቋል።
በምላሻቸው በአንድ አቅጣጫ እንጂ ወደበፊቱ ተመልሶ በሁለት አቅጣጫ አገልግሎት እንደማይሰጡ ገልጸዋል።
ዋና ዳይሬክተሩ አስቀድመው " ለሁለት ቀን ወደ አንድ አቅጣጫ (One way) ተደርገው አገልግሎት ይሰጣሉ " በሚል ለቲክቫህ ኢትዮጵያ ገልጸው ነበር።
ሆኖም " ለሁለት ቀን ያልኩት በአንድ አቅጣጫ አገልግሎት እንዲሰጥ ለማድረግ የሚሰሩ ስራዎች እና የጎደሉትን የማሟላት ስራ ለመስራት ነው " ሲሉ መንገዶቹ በቀጣይነትም ባለ አንድ አቅጣጫ መንገድ ሆነው እንደሚቀጥሉ አስረድተዋል።
አክለውም " የትራፊክ ስራ ዳይናሚክ ነው፣ እንደ የአስፈላጊነቱ በየጊዜው የማሻሻል ስራዎች ሊኖሩ ይችላሉ " በማለት ጠቁመዋል።
ከዚህ በኃላ ግን መንገዶቹ ባለ አንድ አቅጣጫ ብቻ እንደሆኑ አስገንዝበዋል።
ከዚህ በኋላ 4 ኪሎ ቤተመንግስት ዙሪያ ያሉ መንገዶች በአንድ አቅጣጫ ብቻ አገልግሎት እንደሚሰጡ የአዲስ አበባ ትራፊክ ማኔጅመንት ባለስልጣን ለቲክቫህ ኢትዮጵያ አስታውቋል።
በመሆኑም ፦
- ከጥይት ቤት እስከ ፓርላማ ትራፊክ መብራት፣
- ከቤተመንግስት ፖርክንግ እስከ ጥይት ቤት
- ከፓርላማ ትራፊክ መብራት እስከ ሳይንስ ሙዝየም ድረስ ያሉ መንገዶች ቀድሞ ከነበረው ባለሁለት አቅጣጫ መንገድ ወደ አንድ አቅጣጫ መንገድ ተቀይረዋል።
ቲክቫህ ኢትዮጵያ የአዲስ አበባ ትራፊክ ማኔጅመንት ባለስልጣን ዋና ዳይሬክተር አቶ ክበበው ሚደቅሳን መስመሮቹ እንደ ቀድሞው ባለ ሁለት አቅጣጫ ሆነው አገልግሎት መስጠታቸውን መቼ ይጀምራሉ ? ሲል ጠይቋል።
በምላሻቸው በአንድ አቅጣጫ እንጂ ወደበፊቱ ተመልሶ በሁለት አቅጣጫ አገልግሎት እንደማይሰጡ ገልጸዋል።
ዋና ዳይሬክተሩ አስቀድመው " ለሁለት ቀን ወደ አንድ አቅጣጫ (One way) ተደርገው አገልግሎት ይሰጣሉ " በሚል ለቲክቫህ ኢትዮጵያ ገልጸው ነበር።
ሆኖም " ለሁለት ቀን ያልኩት በአንድ አቅጣጫ አገልግሎት እንዲሰጥ ለማድረግ የሚሰሩ ስራዎች እና የጎደሉትን የማሟላት ስራ ለመስራት ነው " ሲሉ መንገዶቹ በቀጣይነትም ባለ አንድ አቅጣጫ መንገድ ሆነው እንደሚቀጥሉ አስረድተዋል።
አክለውም " የትራፊክ ስራ ዳይናሚክ ነው፣ እንደ የአስፈላጊነቱ በየጊዜው የማሻሻል ስራዎች ሊኖሩ ይችላሉ " በማለት ጠቁመዋል።
ከዚህ በኃላ ግን መንገዶቹ ባለ አንድ አቅጣጫ ብቻ እንደሆኑ አስገንዝበዋል።
Why Meles Opposed.pdf
10.8 MB
♟ Part 2: Why Meles Opposed Financial Sector Liberalization in Africa—Game Theorizing high stake moves. Take your turn—explore the games in these slides and decide your next move.
📌 Which piece would you prioritize to revolutionize Africa’s financial sector?
©️Bayu Samuel
📌 Which piece would you prioritize to revolutionize Africa’s financial sector?
©️Bayu Samuel
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𝗬𝗮𝗻𝗴𝗼, 𝗡𝗜𝗕 𝗕𝗮𝗻𝗸, 𝗮𝗻𝗱 𝗡𝗜𝗕 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗙𝗼𝗿𝗴𝗲 𝗚𝗿𝗼𝘂𝗻𝗱𝗯𝗿𝗲𝗮𝗸𝗶𝗻𝗴 𝗗𝗲𝗮𝗹 𝘁𝗼 𝗣𝗿𝗼𝘁𝗲𝗰𝘁 𝗗𝗿𝗶𝘃𝗲𝗿𝘀 𝗶𝗻 𝗘𝘁𝗵𝗶𝗼𝗽𝗶𝗮
In a bold move to transform the economic resilience of ride-hailing drivers in Ethiopia, G2G IT Solutions (Yango), NIB Bank, and NIB Insurance have signed a landmark tri-party agreement that directly addresses one of the most pressing challenges for drivers: the lack of affordable, comprehensive car insurance.
In a bold move to transform the economic resilience of ride-hailing drivers in Ethiopia, G2G IT Solutions (Yango), NIB Bank, and NIB Insurance have signed a landmark tri-party agreement that directly addresses one of the most pressing challenges for drivers: the lack of affordable, comprehensive car insurance.
𝗞𝗲𝗿𝗰𝗵𝗮𝗻𝘀𝗵𝗲 𝗕𝗲𝗰𝗼𝗺𝗲𝘀 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗼𝗿 𝗼𝗳 𝗚𝗲𝗲𝗹𝘆 𝗩𝗲𝗵𝗶𝗰𝗹𝗲𝘀 𝗶𝗻 𝗘𝘁𝗵𝗶𝗼𝗽𝗶𝗮
Kerchanshe Group has announced that it has become the official and sole distributor of Geely vehicles in the country.
The landmark agreement brings one of China’s leading automotive brands into the Ethiopian market through a trusted local partner.
As part of a long-term strategy, Kerchanshe is also preparing to launch local assembly operations for Geely vehicles under its automotive division, Kerchanshe Auto. #EBR
Kerchanshe Group has announced that it has become the official and sole distributor of Geely vehicles in the country.
The landmark agreement brings one of China’s leading automotive brands into the Ethiopian market through a trusted local partner.
As part of a long-term strategy, Kerchanshe is also preparing to launch local assembly operations for Geely vehicles under its automotive division, Kerchanshe Auto. #EBR
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𝗘𝘁𝗵𝗶𝗼𝗽𝗶𝗮'𝘀 𝗖𝗲𝗻𝘁𝗿𝗮𝗹 𝗕𝗮𝗻𝗸 𝗦𝗮𝘁𝗶𝘀𝗳𝗶𝗲𝘀 𝟵𝟲% 𝗼𝗳 𝗙𝗼𝗿𝗲𝘅 𝗗𝗲𝗺𝗮𝗻𝗱 𝗶𝗻 𝗨𝗦𝗗𝟳𝟬 𝗠𝗶𝗹𝗹𝗶𝗼𝗻 𝗔𝘂𝗰𝘁𝗶𝗼𝗻
NBE today reported that it successfully allocated $70 million in its fourth foreign exchange auction, meeting 96% of the total forex demand from participating banks.
A total of #26 #commercial_banks secured allocations during the auction, with the weighted average exchange rate settling at Birr 131.4961 per US Dollar, reflecting the continued transition toward a market-reflective exchange mechanism.
The results underscore the central bank’s recent efforts to enhance foreign currency accessibility, restore market confidence, and stabilize the exchange rate by aligning demand and supply through bi-weekly auctions.
This high satisfaction rate signals growing liquidity and may ease pressure on parallel markets, while offering relief to importers and exporters navigating a rapidly evolving forex environment.
NBE today reported that it successfully allocated $70 million in its fourth foreign exchange auction, meeting 96% of the total forex demand from participating banks.
A total of #26 #commercial_banks secured allocations during the auction, with the weighted average exchange rate settling at Birr 131.4961 per US Dollar, reflecting the continued transition toward a market-reflective exchange mechanism.
The results underscore the central bank’s recent efforts to enhance foreign currency accessibility, restore market confidence, and stabilize the exchange rate by aligning demand and supply through bi-weekly auctions.
This high satisfaction rate signals growing liquidity and may ease pressure on parallel markets, while offering relief to importers and exporters navigating a rapidly evolving forex environment.
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𝗘𝗖𝗫 𝗜𝗻𝗸𝘀 𝗠𝗮𝗷𝗼𝗿 𝗖𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁 𝗳𝗼𝗿 𝗡𝗲𝘄 𝗛𝗤 𝘁𝗼 𝗕𝗼𝗼𝘀𝘁 𝗠𝗼𝗱𝗲𝗿𝗻 𝗧𝗿𝗮𝗱𝗲
The Ethiopian Commodity Exchange (ECX) has signed a major construction agreement with the Ethiopian Construction Works Corporation to build a new 36-story headquarters that will support Ethiopia’s growing role in modern commodity trading.
The Ethiopian Commodity Exchange (ECX) has signed a major construction agreement with the Ethiopian Construction Works Corporation to build a new 36-story headquarters that will support Ethiopia’s growing role in modern commodity trading.
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