Nib International Bank has officially launched its new mobile super app, “Nib Tera Online”, as part of its ongoing digital transformation agenda. The platform, 95% developed in-house, went live July 12, offering customers a more streamlined and user-friendly banking experience.

The launch of Nib Tera Online is a key component of the Bank’s newly unveiled three-year strategic plan and five-year transformation roadmap, which emphasize service innovation and customer-focused digital expansion.

During the official launch event, CEO Henok Kebede highlighted the Bank’s commitment to modernizing its service delivery. “Nib International Bank is deeply invested in understanding and addressing customer needs. Through this application and our broader strategy, we aim to deliver efficient, tech-driven financial services,” he stated.

The Nib Tera Online app enables customers to easily manage transactions, make payments, and access various banking services directly from their mobile phones. It also includes robust security features and has been internally developed by the bank’s in-house IT team.
In addition to retail banking features, the application supports improved financial management for businesses. It facilitates smoother interbank transfers, budget control, and a range of operational banking tasks. The bank noted that more digital services will be integrated into the platform in future updates, with the goal of enhancing efficiency and delivering measurable results.

As part of its transformation agenda, Nib International Bank plans to continue leveraging emerging technologies to improve customer experience and drive institutional growth.

Africa is emerging as a powerhouse in the global coffee trade reaching to 33.3% in May, with Uganda and Ethiopia leading a remarkable surge in exports that is reshaping the continent’s role in the world market.

According to the latest International Coffee Organization (ICO) report, global coffee exports rose 4.9% from May 2024 to 12.65 million bags, boosted largely by African producers. Uganda’s exports jumped 43.3% to nearly 800,000 bags, while Ethiopia’s rose 42% to about 980,000 bags. Together, the two countries accounted for more than 75% of Africa’s coffee shipments last month. 

Uganda surpassed Ethiopia as Africa’s top coffee exporter in May, shipping 47,606 metric tons compared to Ethiopia’s 43,481 tons. The surge earned Uganda USD243.9 million for the month, contributing to an annual export revenue of USD2.09 billion. However, the report noted that Ethiopia’s coffee production is currently in an “on” year of its two-year cycle, leading to an estimated increase of 500,000 bags.

Global coffee exports for the year to date fell to 91.29 million bags, a decrease from 93.44 million.

Three of the four major coffee-exporting regions posted growth in May, with Asia and Oceania leading the surge. The region exported 4.11 million bags, up 48.9% from 2.76 million a year earlier.

The ICO report also noted a 46.8% increase in roasted coffee exports in May, highlighting growing value addition within the sector.

The Addis Ababa City Administration said it has completed 15,960 development projects across the capital in the current Ethiopian fiscal year.

Mayor Adanech Abiebie reported this during the annual performance review at the 4th regular session of the City Council. She said a total of 5,563 retail shops and 1,064 workshop sheds have been built in major commercial areas including Kazanchis, Bole, Lideta, Lafto and Arat Kilo, in partnership with public and private actors.

The mayor also noted that 8,786 homes were built or renovated by volunteers, while another 5,176 were constructed through municipal funding.

Addressing the city’s transportation needs, the report revealed the completion of 153 parking facilities and terminals, as well as significant road infrastructure improvements. Over 1,392 kilometers of asphalt, cobblestone, gravel roads, and sidewalks were constructed or maintained to ease congestion and improve connectivity.

The Mayor emphasized that 9,000 of the completed projects were achieved through community participation and volunteerism, underscoring a model of collaborative development that could inspire similar efforts nationwide. Of the total projects, 16 were categorized as mega projects, reflecting substantial investment in strategic infrastructure.

Source: Ethiopian News Agency (ENA)

The African Union has called on member states to accelerate the ratification and implementation of key legal frameworks necessary to operationalize the African Continental Free Trade Area (AfCFTA) as its 47th Ordinary Session of the Executive Council opened yesterday in Malabo.

The meeting, held under the theme “Justice for Africans and People of African Descent Through Reparations,”  brings together foreign ministers and senior officials to deliberate on critical priorities, including the Union’s 2026 budget.

In his opening remarks, newly elected AU Commission Chairperson Mahamoud Ali Yusuf acknowledged progress in mobilizing domestic resources but warned that the Union continues to face serious financial constraints.

He pointed out that the landmark 2016 Kigali decision which introduced a 0.2% levy on selected imports to fund the AU has yet to be fully implemented. To date, only 17 member states have adopted the measure.

Ethiopia has recently finalized its National AfCFTA Implementation Strategy, which outlines the country’s roadmap for integrating into the continent-wide free trade pact. Currently, 36 African countries and three regional economic communities (RECs) have developed and launched their National AfCFTA Implementation Strategies.

African countries are advancing on several fronts to reduce dependence on aid and external markets. Sources reveal that nearly half of African countries have restricted exports of raw critical minerals, pushing instead toward domestic processing.

The Chairperson also highlighted the persistent challenges undermining Africa’s development agenda, including political instability, humanitarian crises, and security threats in Sudan, the Democratic Republic of the Congo, Somalia, and the Sahel region. He noted that funding shortfalls continue to hamper the African Union Support and Stabilization Mission (AUSOM), which plays a vital role in peacekeeping efforts.

Nevertheless, Yusuf pointed to recent positive developments, such as the agreement between the Democratic Republic of the Congo and Rwanda, Gabon’s return to constitutional order, and Guinea’s transitional plan, as encouraging signs of progress.

Looking ahead, the Chairperson called on member states to strengthen collaboration with regional economic communities, the Peace and Security Council, and the UN Security Council to consolidate peace and economic integration.

The Executive Council session will continue until July 13, 2025. Additionally, on July 14, the AU will convene its 7th Mid-Year Coordination Meeting with key stakeholders to further align continental priorities and strategies.

Source: Ethiopian News Agency (ENA)

The United States has reduced the validity period for most nonimmigrant visas issued to Ethiopian nationals, limiting them to single-entry permits valid for three months.

The change, which applies to visas issued on or after July 8, 2025, was announced by the U.S. Embassy in Addis Ababa through an official statement shared on X (formerly Twitter).

According to the Embassy, the adjustment follows revised U.S. State Department policy guidelines governing nonimmigrant visa classifications.

“Effective July 8, 2025, most nonimmigrant visas for Ethiopian citizens will be a single-entry with a three-month validity,” the statement reads. The embassy clarified that visas issued before that date remain valid under their original terms.

This move aligns with a broader tightening of U.S. visa policies. According to recent reports, the U.S. government is considering expanding travel restrictions to include citizens from 36 countries, including Ethiopia, amid concerns over passport security and cooperation on deportations. This potential expansion builds upon a previous proclamation that banned entry from 12 nations and partially restricted travelers from seven others. Countries failing to meet U.S. requirements within 60 days risk full or partial suspension of visa issuance.

Additional security measures have also been introduced. Since June 18, 2025, applicants for F, M, and J visas are required to make their social media profiles public to facilitate enhanced vetting.

Ethiopia, which is not currently part of the AGOA agreement, is preparing to enter negotiations with the United States under a new tariff framework following the enactment of President Donald Trump’s “One Big Beautiful Bill,” which includes a 10% import duty affecting countries including Ethiopia.

In an exclusive interview with The Reporter, Zerihun Abera, the ministry’s acting executive director for international and regional trade integration, said that the talks are taking place in the midst of the 10% duty imposed by the U.S. on imports from various countries including Ethiopia.

He added that the minister will enter into negotiations under this framework to ensure the benefits Ethiopia so far lost due to AGOA.

Moreover, Zerihun mentioned that the US has expressed its interest in agriculture, industry and other sectors selected for tariff increases in relation to Ethiopia, also adding that preparations have begun on how the increase will be implemented while protecting Ethiopia’s interests. The 10% tariff increase, he said, is not solely driven by U.S. interests. The adjustment will not be applied all at once, but rather after both countries submit the necessary documents, a joint technical committee is formed, and negotiations take place. He indicated that a document regarding this will be prepared and sent to the U.S. through the Ministry of Foreign Affairs.

“The ten percent tariff imposed by the US will bring the average down to ten percent overall. This will allow for strategic negotiations to be held to determine the tariff for each product separately, while protecting Ethiopia’s interests,” he added.

President Donald Trump has characterized tariffs as “the most beautiful word in the dictionary,” a sentiment he reiterated in every of his speech. He  announced a 10% tariff on imports from nearly all countries, effective April 5, 2025. Last week, the U.S. House of Representatives have passed the “One Big Beautiful Bill”, an enormous tax cut and spending package that represents a pillar of President Donald Trump’s agenda.

Jemal Ahmed, chief executive of MIDROC Investment Group, has been named co-winner of the Industry Personality of the Year at the 2025 African Business Leadership Awards, held at the UK House of Lords.

The award recognizes Jemal’s sweeping influence across Ethiopia’s industrial and investment landscape, where MIDROC, under his leadership, has grown into one of the country’s largest and most diversified conglomerates, with operations spanning mining, agriculture, construction, pharmaceuticals, and manufacturing.

Presented during the 15th edition of the African Business Leadership Awards (ABLA), the honor places Jemal among Africa’s most impactful industrial figures. He shared the award with Ally Edha Awadh, founder and CEO of Tanzania’s Lake Oil Group.

Organized by African Leadership Magazine as part of the Africa Summit London, the ceremony brought together policymakers, investors, and thought leaders from across the continent and the UK. This year’s summit, themed “Africa Forward: Powering Leadership, Investment, and Competitiveness,” highlighted innovation and sustainability as key metrics for recognition.

Jemal’s recognition comes at a time when Ethiopia’s private sector is being called upon to shoulder greater responsibility in driving growth, job creation, and economic resilience. MIDROC’s investments in cement production, gold mining, and agro-processing have not only expanded domestic supply chains but also created thousands of jobs across the country.

At the awards dinner, Dr. Ken Giami, CEO of African Leadership Magazine, described winners as “catalysts of change in African enterprise, charting new paths toward inclusive growth.” Jemal’s leadership, he added, “mirrors the potential of African industry when anchored in vision, discipline, and national relevance.”

The ceremony was held at the historic House of Lords, an uncommon venue for African business recognition, symbolizing the growing significance of African-led enterprises on the global stage.

Jemal Ahmed has long maintained a low profile despite MIDROC’s towering presence in the region. This award may mark a shift, positioning him as not only a behind-the-scenes industrialist but also a continental voice on business leadership and investment strategy.

The ABLA awards are determined through a four-stage process involving public nomination, editorial screening, online voting, and verification of institutional impact. Jemal’s win was based on both popular support and documented contributions to industrial development.

MIDROC’s recent projects include expansions in gold refining, medical manufacturing, and logistics, sectors deemed strategic under Ethiopia’s new economic reform agenda.

Addis Ababa’s city government has announced that it collected ETB 233 billion in the just-ended fiscal year, meeting 96.5% of its annual revenue target. The figure marks a 57% increase compared to last year’s collection, showing a leap of ETB 83.3 billion.

Initially, the city had planned to raise ETB 241.4 billion in the 2024/25 budget year. While ETB 8 billion, mostly from expected support and credit, remains uncollected, officials say the results reflect robust progress in local resource mobilization.

Mayor Adanech Abiebie shared the update through her official social media channels, attributing the performance to collective effort and improved tax compliance. “This is a homegrown transformation, built on broad foundations and strengthened by solid pillars,” she said.

The city’s finance bureau had reported steady growth throughout the year. By mid-fiscal year, Addis had already collected 111.5 billion birr, surpassing 90% of its six-month target. By April, the nine-month performance stood at 98% of plan, buoyed by tighter tax auditing, increased e-payment adoption, and institutional accountability.

In early 2025, the city launched a quality-assurance unit within its tax audit department to correct unfair assessments and reduce leakages. Additionally, VAT return systems were overhauled, requiring staggered weekly filings by over 62,000 registered businesses to reduce bottlenecks and late penalties.

Ethiopia has reached an unprecedented milestone in its coffee export history, shipping 468,967 metric tons to the international market and securing USD2.653 billion in earnings during the past fiscal year. The achievement surpasses the nation’s own targets by a wide margin,144% in volume and 147% in revenue.

This record-breaking performance comes on the back of sweeping sectoral reforms and global market dynamics that have favored Ethiopia’s rich coffee heritage. Recent reports from the Ethiopian Coffee and Tea Authority highlight that the country expanded into 20 new international destinations while intensifying traceability systems and giving direct export rights to producers.

According to the U.S. Department of Agriculture’s Foreign Agricultural Service, Ethiopia’s total coffee production for 2025/26 is projected to hit 696,000 tons, a 9% jump year-on-year, while annual exports are expected to remain strong at 468,000 tons, aligning almost perfectly with the actual performance reported this year.

In the past 11 months alone, the country had already exported over 409,000 tons, thanks to streamlined logistics, improved contract transparency, and the launch of East Africa’s first national coffee tasting and training center in Addis Ababa.

The Central Bank of Russia has announced that, beginning July 10, 2025, it will start publishing official exchange rates for 12 additional foreign currencies, including the Ethiopian birr, against the Russian ruble. The move expands the list of currencies for which the central bank provides daily reference rates used for accounting, customs, and official transactions within Russia.

According to the announcement, the decision reflects a broader update in the regulator’s exchange rate policy framework. While it does not imply immediate changes in trade volumes or bilateral agreements, the inclusion of more currencies in Russia’s official rate list may support administrative and financial operations involving countries with which it maintains economic ties.

The addition of the Ethiopian birr comes as part of a larger group of currencies introduced in the update, which now exceed 50 currency pairs in total. The move follows ongoing developments in Russia’s currency and trade policy environment, particularly in expanding engagement with non-Western economies.

Since late 2024, the Central Bank of Russia has been refining its methodology by incorporating data from both exchange-traded and OTC (over-the-counter) segments, aiming to create more representative official rates

This supports Russia’s efforts to build alternative financial links with countries like Ethiopia, Iran, and Nigeria, many of which are part of or aligned with BRICS+ or the broader Global South.