EBR_News Mar 16, 2026

The AlHuda Centre of Islamic Banking and Economics (CIBE), a globally recognized advisory and research institution based in the UAE, has signed a Memorandum of Understanding with the Ethiopian Interest Free Finance Professionals Association (EIFFPA) to strengthen capacity building, advocacy, and knowledge sharing for the development of Sharia-compliant finance in Ethiopia, according to a joint press release issued today.

The agreement establishes a framework for collaboration in key areas including professional education and training, conferences and seminars, public awareness initiatives, policy advocacy, and professional exposure visits. The partnership aims to support the growth of interest-free finance by engaging stakeholders, developing policy materials, and strengthening the technical capacity of industry practitioners.

EBR_News Mar 16, 2026

Chef Fariyal Abdullahi, an acclaimed culinary talent of Ethiopian ancestry, has been selected to create exclusive inflight meals for United Airlines’ international business-class passengers, according to a March 12 announcement by the airline.

Fariyal, the Executive Chef of the renowned New York restaurant Hav & Mar, is one of 11 world-renowned chefs from four continents chosen to curate regionally inspired dishes for United’s Polaris business class. Her cooking at Hav & Mar is described as a convergence of her travels and Ethiopian ancestry, brought to life with an infusion of European technique and unique flavors.

EBR_News Mar 16, 2026

Prime Minister Abiy Ahmed (PhD) has issued an urgent call for strict fuel conservation across Ethiopia, citing severe disruptions in global oil supplies caused by the ongoing Middle East conflict that has made it increasingly difficult for importing nations to secure consistent deliveries, according to a statement posted on his social media pages.

The Prime Minister urged fuel distributors, gas station operators, and the general public to prioritize essential services and use fuel responsibly until regular supply chains are restored. “We must all act with a sense of responsibility by saving fuel and prioritizing basic necessities,” Abiy stated, emphasizing that collective discipline is required to navigate the current global energy challenge.

The appeal follows a nationwide crackdown announced last week by Finance Minister Ahmed Shide, who warned that legal action has begun against entities accused of selling subsidized fuel above government-mandated prices. The government allocates more than $4.2 billion annually to import petroleum products, with current subsidies reaching 98.29 birr per liter for white diesel and 73.56 birr for gasoline compared to international delivery prices at Djibouti port.

Authorities have initiated legal measures targeting traders and collaborators operating outside official distribution channels, with studies showing that fuel imported with large foreign-currency allocations is being diverted and sold on black markets at inflated prices, creating artificial shortages.

EBR_News Mar 12, 2026

By Betegbar Yaregal

Bank of Abyssinia and Visa have signed a new agreement to strengthen their long-standing partnership and accelerate the growth of digital payment solutions across Ethiopia, according to an announcement made at the bank’s head office in Addis Ababa.

The agreement will support the continued expansion of Visa products issued by Bank of Abyssinia while enabling the bank to enhance customer experiences through advanced digital payment capabilities.

Speaking at the signing ceremony, Yared Endale, Cluster Head for Eastern Africa at Visa, said the agreement marks an important milestone in the companies’ five-year relationship. “Ethiopia is an important and rapidly evolving market, and Visa remains committed to working closely with leading financial institutions to support the growth of the digital payments ecosystem.

EBR_News Mar 13, 2026

By Betegbar Yaregal

Awash Bank has unveiled three new digital applications today at Skylight Hotel, significantly expanding its digital service portfolio with a strategic focus on capturing Ethiopia’s estimated $7.1 billion annual remittance market through a new partnership with MasterCard.

CEO Tsehay Shiferaw, addressing the launch event, stated that updating services and developing convenient platforms remains the bank’s constant mission. “In the future, we will continue to provide our bank’s customers, whose number and demand are constantly increasing, with modern digital services in addition to regular banking services,” he said.

The flagship launch, Awash Remit, is a mobile money transfer platform designed specifically for Ethiopians living abroad and foreign nationals of Ethiopian origin. The app enables fast and secure transfers to friends and family, allowing senders to deposit funds directly into Awash Bank accounts, Awash Birr Pro Wallets, or enable recipients to withdraw cash from branches using Visa or MasterCard.

EBR_News Mar 12, 2026

Ethiopia’s legal cigarette market has contracted by an estimated 67 percent between 2019 and 2025, while illicit volumes more than doubled following aggressive excise tax increases, according to a new study commissioned by the National Tobacco Enterprise (NTE) and conducted by Oxford Economics Africa.

The report, titled “Cigarette Market Dynamics in Ethiopia After Changes in Excise Policy and Rates,” analyzed market developments from 2019 through October 2025, covering two major policy shifts: the introduction of a mixed excise regime in early 2020 and a subsequent increase in the fixed rate component in June 2024.

Prior to 2020, Ethiopia levied a 75 percent ad valorem excise tax based on production costs. The new regime implemented in Q1 2020 introduced a mixed system comprising a 30 percent ad valorem rate based on factory gate prices plus a fixed charge of 8 birr per pack of 20 sticks. This pushed the average excise per pack up by more than 200 percent, according to the study.

EBR_News Mar 11, 2026

By Betegbar Yaregal

Ethiopian Cargo will join the Freightos cargo booking platform at the end of this month, integrating digital rates, quoting, and ebooking capabilities across Africa’s largest air cargo network, according to an announcement made at Mobile World Congress Barcelona.

The integration includes WebCargo Pay for fast digital payments and interlining capabilities, enabling freight forwarders to search, quote, and book airline capacity in seconds rather than hours, the company stated. Ethiopian Cargo operates Africa’s largest air cargo network, serving more than 145 destinations worldwide through dedicated freighters and passenger belly capacity, offering high-speed and priority shipment options.

Pablo Pinillos, CFO and Interim CEO of Freightos, noted that global trade has become far more volatile, and access to speed and reliability matters more than big promises. “With Ethiopian Cargo on our platform, forwarders will be able to unlock practical tools to move freight when capacity, routes, and costs are constantly shifting, resulting in less friction, more optionality, and fewer spreadsheets,” he said.