Commercial Bank of Ethiopia Disburses Over 264 Billion Birr in Loans Over Eight Months
The Commercial Bank of Ethiopia (CBE) has disbursed over 264 billion Birr in loans over the past eight months, with 88.2% allocated to the private sector. President Abe Sano highlighted efforts to expand loan accessibility, including digital loan services in partnership with Ethio Telecom. So far, 3.9 billion Birr in digital loans have been issued to 717,000 customers. The bank is also preparing to support startups and enhance financial inclusion.
Commercial Bank of Ethiopia Disburses Over 264 Billion Birr in Loans Over Eight Months
The Commercial Bank of Ethiopia (CBE) has disbursed over 264 billion Birr in loans to its customers over the past eight months, according to Abe Sano, the bank's president.
Read full article
| Currency | Buying | Selling |
|---|---|---|
 USD | 124.01 | 126.49 |
 GBP | 152.39 | 155.43 |
 EUR | 128.34 | 130.90 |
 CHF | 134.14 | 136.83 |
 SEK | 11.00 | 11.22 |
 CAD | 84.63 | 86.32 |
 SAR | 33.01 | 33.67 |
 AED | 33.77 | 34.44 |
Note: These rates are subject to change. Please check with the respective banks for the most current rates.
Top Stories
Latest Financial News
EU, Ethiopia Sign 240 Million Euro Program that Promotes Sustainable Development
The European Union (EU) and Ethiopia have signed the Annual Action Programme (AAP) 2024, allocating 240 million Euros to support Ethiopia’s development. The program focuses on agribusiness, democratic institutions, healthcare, forced displacement solutions, and private sector engagement. Finance Minister Ahmed Shide emphasized the EU’s role in stimulating private sector investment and modernizing economic systems. EU Ambassador Sofie From-Emmesberger highlighted the EU’s commitment to Ethiopia’s economic growth, particularly in the agriculture sector. The signing ceremony was attended by EU member state ambassadors.
Commercial Bank of Ethiopia Disburses Over 264 Billion Birr in Loans Over Eight Months
The Commercial Bank of Ethiopia (CBE) has disbursed over 264 billion Birr in loans over the past eight months, with 88.2% allocated to the private sector. President Abe Sano highlighted efforts to expand loan accessibility, including digital loan services in partnership with Ethio Telecom. So far, 3.9 billion Birr in digital loans have been issued to 717,000 customers. The bank is also preparing to support startups and enhance financial inclusion.
Electric Buses Commence Operations in Addis Ababa
Addis Ababa has launched 100 electric buses to improve public transportation and reduce environmental impact. Mayor Adanech Abiebie emphasized the initiative's role in easing transportation challenges and combating climate change. The buses will operate on dedicated lanes for faster service and lower fuel costs. Transport Minister Alemu Sime praised the move as a step toward expanding green mobility. Over 1,170 public transport buses currently serve the city, and residents can enjoy free rides on the new electric buses today.
Production-driven Trade Strategy Enables Ethiopia to Boost Export Destinations, Competitiveness
Ethiopia has significantly expanded its export destinations and competitiveness through a production-driven trade strategy, achieving $4.5 billion in export revenue within the first eight months of 2024/25. Trade and Regional Integration Minister Kassahun Gofe highlighted Ethiopia’s efforts to strengthen intra-African trade by launching a pilot AfCFTA project. The country’s coffee exports alone are expected to surpass $2 billion this fiscal year, driven by quality improvements under the Green Legacy Initiative. Ethiopia aims to further expand trade by joining AfCFTA and the WTO.
Capital Market Authority considers green securities to fund climate initiatives
The Ethiopian Capital Market Authority (ECMA) is exploring the introduction of green financing instruments to support climate resilience programs. A feasibility study conducted with FSD Ethiopia highlights the country’s vulnerability to climate risks, costing up to 1.5% of GDP annually. With Ethiopia requiring $316 billion for its climate action goals by 2030, the proposed green financing market aims to mobilize $2 billion through initiatives like green bonds and carbon credits.
Authority doles out five capital market service provider licenses
The Ethiopian Capital Market Authority (ECMA) has approved licenses for five businesses to operate as capital market service providers (CMSPs). CBE Capital SC and Wegagen Capital Investment Bank SC have acquired investment banking licenses, while HST Investment Advisory Services PLC and Equation Securities Investment Advisor PLC join the expanding Ethiopian financial sector as investment advisors, and Ethio-Fidelity Securities SC nabs the first securities dealer license.
Stay Informed with Financial Insights
Subscribe to our newsletter for daily market updates, expert analysis, and financial news delivered straight to your inbox.