Dashen Bank announced that its total assets have reached ETB 183.7 billion, reflecting a growth of 27 % over the last financial year. The bank held its 31st regular and 26th shareholders’ meeting today at Millennium Hall, where it discussed its performance from the previous year, plans for the upcoming fiscal year, and other relevant issues.
Africa, with its diverse and rich cultural heritage, is a continent of rapid economic development. Among its many vibrant cities, there are several that stand out as the most developed. These urban centres boast impressive infrastructure, thriving economies, and a high quality of life for their residents.
Ethiopia’s recent decision to float its currency has sent shockwaves through the economy, underscoring the complexities of such a policy shift. While intended to foster a market-oriented system, the move has precipitated rapid currency depreciation, leading to heightened inflation and economic uncertainty.
The immediate impact on businesses has been profound. Exporters, once basking in the glow of a depreciated currency, now confront a myriad of challenges. Input costs have surged. Moreover, the instability of the exchange rate has made planning a daunting task.
Ethiopia has been grappling with a severe foreign exchange shortage for many years, fueling a thriving black market. The government’s frequent response – a crackdown on illegal currency trade – has solved the problem.
In this commentary reprinted from 7th Year • Nov.16 – Dec.15 2018 • No. 68 of EBR, Tekie Alemu (PhD), a retired associate professor of economics at Addis Ababa University, provided an in-depth analysis into the heart of the problem, exploring the intricate dynamics of supply and demand in Ethiopia’s foreign exchange market. From the role of the diaspora to the pitfalls of government intervention, the article offers a fresh perspective on this pressing economic issue. The assistant professor explains how a legalised foreign exchange market could inject efficiency and transparency into the system while empowering commercial banks to focus on their core competencies.
– in retrospect from EBR 68 published from 7th Year. November 2018.
Ethiopia’s ambitious Green Legacy Initiative aims to transform the nation into a green paradise. However, the looming threat of climate change and natural disasters casts a shadow over this vision. Forest insurance emerges as a crucial safety net. This commentary by insurance insider Fikru Tsegaye Wordofa delves into why Ethiopia urgently needs this financial safeguard. The article shows how forest insurance can protect the country’s invaluable green assets, bolster the economy, and contribute to a sustainable future.
Dehydration occurs when the body loses more fluids than it takes in. Symptoms range from thirst and headaches to severe complications such as kidney problems and even death. While staying hydrated seems straightforward, many underestimate its importance for a healthy life.
Experts stress magnesium’s crucial role in water absorption and advise increasing the intake of magnesium-rich foods. Moreover, a diet rich in fruits and vegetables can also contribute to hydration. By being aware of dehydration symptoms and taking preventive measures, such as maintaining adequate fluid intake and seeking medical help when needed, one can significantly reduce the risk of death from this silent killer. EBR’s Dr. Brook Genene delves into this issue with medical professionals, examining the various health threats it poses.
The Cooperative Bank of Oromia has announced a strategic partnership with InFTF, an international humanitarian organization focused on inclusive finance. This collaboration has resulted in the launch of Ethiopia’s first blockchain-powered remittance service, making Cooperative Bank of Oromia the first bank in both Ethiopia and Africa to offer this innovative solution.
A remote village in Ethiopia’s Gofa Zone has been devastated by a catastrophic landslide that has buried hundreds of people alive. The tragedy has prompted a massive humanitarian response as survivors grapple with the loss of loved ones and the uncertainty of the future. The incident underscores the importance of investing in early warning systems and disaster prevention measures. EBR’s Samuel Getachew visits the area to speak to survivors, eyewitnesses and community leaders.
Ethiopia’s Olympic history is a tapestry woven with threads of triumph and adversity. From the legendary barefoot run of Abebe Bikila to the iconic unity displayed by Derartu Tulu and South African Elana Meyer in 1992 Barcelona Olympics, the nation has produced some of the greatest athletes of all time. However, the recent shadow of controversy has influenced the once-golden era. Internal strife, athlete dissatisfaction, and leadership disputes jeopardise Ethiopia’s Olympic dream.
This in-depth analysis By EBR’s Brook Genene delves into the heart of Ethiopian athletics, exploring the factors that have contributed to its past glories and the challenges that threaten its future. From the inspiring stories of Olympic champions to the current turmoil within the Ethiopian Olympic Committee and Athletics Federation, this article comprehensively looks at a nation grappling with its sporting identity.
The National Bank of Ethiopia (NBE) has granted operational licenses to five new Independent Foreign Exchange Bureaus, marking a significant step in the country’s financial sector liberalization. The bureaus, which met the minimum requirements outlined in the NBE’s Foreign Exchange Directive No. FXD/Ol/2024, are:
Eden Teshome
Ethiopian Business Review
Tekie Alemu (PhD)
Fikru Tsegaye Wordofa
Dr. Brook Genene
Samuel Getachew