Demand for foreign currency at Ethiopia’s latest central bank auction eased from the previous sale, with commercial banks bidding for 160.5 million US dollars against 100 million US dollars on offer, the National Bank of Ethiopia (NBE) said on Wednesday. The auction cleared at 157 birr per U.S. dollar, with the marginal rate, weighted average […]

The Development Bank of Ethiopia (DBE) plans to issue green and Sharia-compliant Sukuk bonds next year as part of a broader effort to diversify its funding base and reduce reliance on traditional sources of capital, the bank’s president said during a parliamentary review of its nine-month performance. Appearing before the Standing Committee on Government Development […]

Ethiopia’s state-owned cargo vessel MV Gibe has resumed its voyage to Djibouti after a delay near the Strait of Hormuz caused by heightened tensions in the Gulf region, according to Ethiopian Shipping and Logistics (ESL). The vessel is currently sailing through the Gulf of Oman and is expected to reach the Port of Djibouti at […]

Bunna Bank S.C. has completed the securities registration process with the Ethiopian Capital Market Authority (ECMA), positioning the lender to join Ethiopia’s expanding equity market as more companies enter the formal securities trading system. ECMA said it approved Bunna Bank’s Registration Statement on June 23, 2026, registering 61,895,598 existing shares held by shareholders and 2,587,002 […]

A new infrastructure fund backed by Global Infrastructure Partners (GIP), a unit of BlackRock, aims to mobilise about 750 million US dollars in private institutional capital for climate-resilient projects across emerging markets. The GIP Infrastructure Resilience Development Fund (IRDF) is designed to attract long-term investors into infrastructure sectors facing climate-related risks, including clean energy, water […]

The National Bank of Ethiopia (NBE) will offer another 100 million US dollars to commercial banks on Wednesday as the central bank continues efforts to increase foreign currency supply while market expectations shift towards a more stable birr. The auction comes after strong demand from banks in recent foreign exchange sales, with commercial banks submitting […]

Heineken has selected Rafael Oliveira as its next chief executive officer, appointing a consumer goods executive with experience across global markets as the brewer prepares to advance its long-term strategy. Oliveira, currently chief executive of JDE Peet’s, will become chair of Heineken’s Executive Board and CEO effective October 1, 2026, subject to shareholder approval at […]

Domestic workers in Ethiopia could soon be required to undergo formal training and obtain competency certification before entering the profession under a draft regulation being reviewed by the government. The Ministry of Labour and Skills has submitted the draft regulation to the Ministry of Justice, proposing that domestic workers complete training through Technical and Vocational […]