In a move that has raised both expectations and concerns, Ethiopia’s Central Bank (NBE) has approved a significant increase in the credit growth target to 18%, up from the previous 14%. This decision, made during the Monetary Policy Committee’s (MPC) meeting on December 31, 2024, aims to bolster economic growth amid challenging liquidity conditions faced by banks.

Geez Education and Training Plc signed two landmark Memorandums of Understanding (MoUs) with California State University, the Global Academy of Finance and Management (GAFM), and the American Academy of Project Management (AAPM). The agreement introduces 275 internationally recognized training programs, starting with 48 fields delivered in a hybrid format of online and in-person instruction. These include courses in capital markets, finance and project management, technology, business, and research. The initiative also promotes innovation through STEM-focused courses, research opportunities, and international student exchange programs. It aims to bridge the gap between education and industry demands, equipping professionals with the expertise to drive sustainable economic growth.

ZamZam Bank S.C. announced that its deposits reached Birr 7.7 billion as of December 29, 2024, marking a 38% increase from the Birr 6.8 billion recorded during the 2023/24 fiscal year. The announcement was made during the bank’s 4th Shareholders’ Meeting and 3rd Immediate Meeting, held at Millennium Hall, Addis Ababa.

251 Communications and Marketing Private Limited has officially launched the 7th Annual Real Estate and Home Expo. The event is taking place from December 27 to 29, 2024, at the Sheraton Addis Inter Luxury Collection Hotel.

East African Holding (EAH) has signed a Memorandum of Understanding (MoU) with the Ethiopian Construction Works Corporation (ECWC). This partnership aims to enhance Ethiopia’s infrastructure development through the supply of high-quality cement products from Lemi and Dire Dawa National Cement, along with experience sharing in key areas.

ZamZam Bank, in partnership with Kifiya Financial Technology, launched “Ansar Digital Financing,” Ethiopia’s first full-fledged Sharia-compliant digital financing service.

Melika Bedri, CEO of ZamZam Bank, stated that the Ansar service aims to improve financial access for Micro, Small, and Medium Enterprises (MSMEs), particularly focusing on women and informal sector workers. She emphasized the importance of inclusive financial solutions to foster growth and prosperity in underserved communities.

Land for Life Ethiopia has successfully organized the 2nd Ethiopian Land Day, bringing together policymakers, academics, civil society organizations, and private sector representatives. Under the theme “The Quest for Resilient Land Governance for a Better Life in Ethiopia,” the event has served as a platform to promote sustainable and equitable land governance in the country.

Amhara Bank has launched its innovative Aba QR app, designed to simplify digital transactions for customers and merchants. Officially unveiled by the bank’s CEO, Dr. Yohannes Ayalew, the app offers a user-friendly, cashless payment system that works seamlessly with any bank account or mobile banking app.

Bunna Bank S.C. held its 15th Annual General Meeting, announcing significant achievements despite challenges in the Ethiopian banking sector. Ambassador Alemayehu Sewagen revealed a profit before tax of 930.1 million birr for the fiscal year, with deposits reaching 43.87 billion birr—a 20% increase from the previous year.

In January, Ethiopia officially joined the BRICS group of emerging economies, which includes Brazil, Russia, India, China, and South Africa. This development has sparked optimism, as it promises new opportunities for economic growth, stronger international partnerships, and a more prominent voice on the world stage.