@TradeEthiopia – Ethiopian Business Review

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In its ongoing commitment to price and external stability, the National Bank of Ethiopia (NBE) has announced that it will conduct its sixth foreign exchange auction on Thursday, May 22, 2025, offering USD 50 million to participating banks.

This move is part of NBE’s bi-weekly foreign exchange auction framework aimed at supporting a more transparent and market-responsive forex system. Banks are invited to submit bids in line with NBE’s established guidelines, with the settlement set for the end of the auction day.

The announcement follows the previous auction held on May 7, 2025, where the weighted average rate of all successful bids stood at ETB 132.9643 per USD. In that round, 16 banks successfully secured foreign exchange allocations, underscoring robust participation and demand.

By maintaining a consistent auction schedule, the central bank aims to reduce volatility, improve forex access for priority sectors, and enhance monetary policy effectiveness.

The results of the May 22 auction will be disclosed shortly after the bid submission period concludes.

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The Ethiopian Coffee and Tea Authority has announced a major expansion in the global reach of Ethiopian coffee, adding over 30 new export destinations and recording an all-time high in export revenue, as reported by Ahadu Radio.

Cheru Kuru, Chief Executive Officer for Market and Information Security at the Authority, revealed that Ethiopian coffee is gaining increasing international traction, with rising demand from emerging markets such as China and South Korea. These new buyers are joining traditional markets like Europe and the United States, helping Ethiopia grow its total export destinations from 64 to over 90 countries.

Among the top revenue-generating destinations are Saudi Arabia, Germany, and the United States, followed closely by Belgium, China, South Korea, the UAE, Japan, Italy, and Jordan. These countries now account for a combined 77% of export volume and 78% of total foreign exchange earnings from coffee.

Notably, China, Jordan, and the UAE—new entrants to the top 10 buyers list—reflect a shifting global appetite for Ethiopia’s specialty beans.

The Commercial Bank of Ethiopia (CBE), in collaboration with global payment leader MasterCard, has introduced both plastic and virtual international prepaid cards, a move set to enhance digital payment accessibility in Ethiopia.

The launch, officiated by CBE President Abe Sano and MasterCard Africa President Mark Elliott, marks a major step toward modernizing Ethiopia’s financial ecosystem. These prepaid cards will enable users to conduct international transactions with greater convenience, supporting online purchases, travel expenses, and cross-border payments.

CBE officials emphasized that the initiative aligns with the bank’s ongoing efforts to expand digital financial services and provide customers with secure, flexible, and globally accepted payment solutions. The virtual card, in particular, is expected to cater to the rising demand for secure online transactions, while the plastic version offers a physical alternative for international spending.

Ethiopian producers and leaders in the import-export sector are looking forward to the upcoming 137th China Import and Export Fair (Canton Fair), set to take place from April 15 to May 5 in Guangzhou, China. This prestigious trade fair is seen as a crucial opportunity for Ethiopian businesses to not only expand their market presence in China but also tap into broader international markets.

Kenenisa Lemi, the secretary-general of the Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA), told Xinhua that the Canton Fair offers “a great opportunity” for Ethiopian businesses, particularly exporters of key commodities such as coffee and agricultural products, to increase their market share in China. Lemi expressed hope that Ethiopian producers could explore new trade relationships and business ventures not only in China but also with participants from around the world.

The Canton Fair, which has been held biannually since 1957, will stage its 137th edition at 1.55 million square meters of exhibition space. The event will bring together participants from over 200 countries and regions, offering Ethiopian exporters a prime opportunity to increase their market presence internationally.

Last week, a promotional seminar was held in Addis Ababa, organized to prepare Ethiopian businesses for the upcoming event. Senior Ethiopian government officials and business representatives from both countries discussed the opportunities the fair presents. During the seminar, experts from the China Foreign Trade Center emphasized how the fair could unlock broader market access for Ethiopian producers and exporters.

The seminar also highlighted the success of the previous 136th Canton Fair, which attracted over 253,000 onsite participants and 450,000 online attendees from 224 countries. This underscores the significant international reach of the event and the potential benefits for Ethiopian businesses.

NBE to Conduct USD50 Million Forex Auction as Part of Bi-Weekly Market Stabilization

Ethiopia Expands Coffee Export Destinations by 30

CBE and MasterCard Launch International Prepaid Cards

Ethiopian Businesses Eye New Markets at 137th Canton Fair in China