Amhara Bank will suspend all major customer-facing services for two days as it carries out a scheduled system upgrade, even as the lender continues to post rapid balance sheet growth alongside an ongoing transition in its senior leadership. The shutdown will begin on Friday at 6:00am and run until Sunday at 12:00am, according to a […]

Ethiopia’s Foreign Minister Gideon Timothewos (PhD) held talks with Indian Prime Minister Narendra Modi on the sidelines of the BRICS foreign ministers’ meeting in New Delhi, as Addis Ababa pushes to deepen diplomatic and economic ties within the expanding bloc. The meeting took place during a two-day gathering of BRICS foreign ministers hosted by India […]

The House of Peoples’ Representatives has unanimously passed a new cooperative proclamation allowing cooperative societies to open branches and provide services beyond the regional states where they were initially registered. The amendment, Proclamation No. 1416/2018, removes long-standing geographic restrictions that confined cooperatives to regional jurisdictions. Lawmakers said the change is intended to help cooperatives expand […]

The Ethiopian Securities Exchange has amended its rules governing the over-the-counter market, allowing banks and pension funds to participate directly in debt trading under a revised framework approved by the Ethiopian Capital Market Authority. The changes, which take immediate effect, mark one of the latest regulatory steps in Ethiopia’s effort to deepen its nascent capital […]

Fuelstor, an energy and logistics infrastructure company, has broken ground on a 160 million US Dollar fuel storage terminal in Djibouti’s Damerjog Industrial Development Zone. Officials say the project will reinforce regional energy security and position the Horn of Africa nation as an even more critical gateway for trade. Construction is expected to take 20 […]

Ethiopia and France have finalized a 54.6 million euro loan agreement to advance digital public services and geothermal energy development, officials confirmed following President Emmanuel Macron’s working visit to Ethiopia on May 13, 2026. The deal, sealed during bilateral talks on cooperation frameworks and development roadmaps, allocates a substantial portion of the funds to an […]

Addis Ababa City Administration has launched a 1.4 billion birr project to convert 1,200 public buses to gas-powered engines as authorities push to reduce reliance on imported fuel and expand the use of alternative energy in the capital. The city has already disbursed more than 273 million birr to kick-start the programme, city officials said […]

Ethiopia’s Customs Commission has recouped 2.8 billion birr over the past ten months through unannounced post-clearance document audits. The amount, which revises earlier, larger estimates, stems from a targeted legal campaign against importers, manufacturers, and exporters using falsified paperwork to evade duties. Debele Kabeta, Commissioner General, clarified that the actual savings from urgent inspections and […]