The Ethiopian Customs Commission has announced sweeping changes to the regulation of goods imported without foreign currency payments (Franco-Valuta), as part of a broader financial sector overhaul.  

The National Bank of Ethiopia (NBE) confirmed the repeal of the decades-old Establishment Proclamation No. 691/2000, replacing it with the more robust NBE Proclamation No. 1359/2017. The move grants the central bank stronger oversight powers while scrapping the previous Council of Ministers Regulation No. 88/1995, which governed Franco-Valuta imports.  

In a transitional measure, the Customs Commission will continue processing foreign exchange license requests under existing procedures—but with stricter scrutiny. Non-commercial Franco-Valuta requests from government agencies, NGOs, and international organizations must now be vetted by Customs Operations Managers and approved only by senior Customs Office Managers.  

The NBE has ordered meticulous record-keeping, requiring monthly reports on Franco-Valuta transactions to prevent misuse. The changes signal Ethiopia’s push to modernize trade finance controls while managing forex shortages—a critical issue for import-dependent industries.  

Businesses and institutions must adapt quickly, as further directives are expected. The reforms aim to curb abuse of forex exemptions, ensuring hard currency is prioritized for essential imports.