Ethiopia cancels privatization of Ethiopian Shipping & Logistics Services Enterprise

Ethiopia cancels privatization of Ethiopian Shipping & Logistics Services Enterprise

borkenaOctober 11, 2020  Ethiopia reportedly canceled planned partial privatization of Ethiopian Shipping & Logistics Services Enterprise.  The Ethiopian Reporter cited the Minister for Transport Dagmawit Moges to report that the enterprise has canceled the sale of ships because the revenue generated from is less than revenue that could be obtained from delivering the service as […]

14 billion birr back to the banking system since banknote changes

14 billion birr back to the banking system since banknote changes

67 billion birr of new banknotes distributed to banks across the country, says National Bank of Ethiopia governor borkenaOctober 3, 2020 On September 13, 2020, Ethiopian unveiled the introduction of new banknotes with a goal to recover hundreds of billions of birr that was said to be outside of the banking system. And seems that […]

Ethiopia introduces cash stash limit to individuals, businesses

Ethiopia introduces cash stash limit to individuals, businesses

borkenaAugust 18, 2020 Ethiopia introduced a limit to the amount of cash that individuals or companies can put aside outside of banks or financial institutions. According to a report by the state media, Ethiopian News Agency, the new limit to the amount of cash stash is 1.5 million Ethiopian Birr which is about US$ 42,000. […]

Cooperative Bank of Oromia declares over 1.9 billion birr profit

Cooperative Bank of Oromia declares over 1.9 billion birr profit

Cooperative Bank of Oromia is worth over 52 billion birr borkenaJuly 27, 2020 The Cooperative Bank of Oromia declared that it has secured over 1.9 billion birr in profit. Derebe Asfaw, president of the bank, said the Profit is 102 percent higher compared to last year, as reported by Oromia Broadcasting Network (OBN) on Monday. […]

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