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Ethiopian Business Review
22 Sept, 12:37
NBE Schedules Final $125 Million FX Auction Under Q1 Programme#EBR_News Sep 22, 2026The National Bank of Ethiopia (NBE) will offer $125 million to commercial banks in its 29th foreign exchange auction on September 23, marking the final scheduled tranche of its $500 million regular FX auction programme for the first quarter of the 2026/27 fiscal year.The central bank said banks will submit their bids through the CSD-Based FX Auction System between 10:00 a.m. and noon on Wednesday.The auction results will be announced at 3:00 p.m., with settlement scheduled for the end of the day.The auction follows NBE’s September 9 sale, when the central bank offered $125 million but received only $120 million in bids, leaving the auction undersubscribed by $5 million. All 20 participating banks were successful.The September 9 auction cleared at a weighted average rate of 160.5357 BirrTelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
22 Sept, 12:36
Ethiopian Business Review
22 Sept, 11:28
Ethiopia Joins Global Coalition Backing Lower-Carbon Blended Cement Ahead of Hosting COP32#EBR_News Sep 22, 2026Ethiopia has joined a growing coalition of governments backing lower-carbon blended cement, alongside Cambodia, Ghana, Tanzania, and Uganda, bringing the number of nations supporting the Intergovernmental Council for Buildings and Climate's initiative to twelve, according to a report by World Cement.The announcement coincides with the launch of Blend Better Cement, a global campaign bringing together governments, industry, and climate organizations to advance national policies that boost the use of blended cement.According to World Cement, blended cements use alternative materials, known as supplementary cementitious materials, such as calcined clay, limestone fines, or industrial by-products, to reduce emissions while delivering comparable strength, durability, andTelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
22 Sept, 11:28
Ethiopian Business Review
22 Sept, 10:44
Wegagen Bank's Digital Lending Platform Disburses 5.99 Billion Birr to Women, Youth and MSMEs#EBR_News Sep 22, 2026Wegagen Bank S.C. disbursed 5.99 billion birr in loans through its digital lending platform, Efoyta, during the 2025/26 fiscal year, with the bank stating the platform is aimed at expanding access to finance particularly for women, youth entrepreneurs, and Micro, Small and Medium Enterprises.The figures were presented at the bank's 33rd Ordinary and 16th Extraordinary Shareholders General Meeting, held at Hilton Hotel Addis Ababa on September 19, 2026.According to the bank, digital banking adoption grew significantly across the board during the fiscal year. Mobile banking subscriptions rose 21 per cent to 4,087,775, while internet banking subscriptions jumped 86 per cent to 41,494. Cardholders increased 45 per cent to 537,651.A digital wallet partnership withTelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
22 Sept, 10:44
Ethiopian Business Review
22 Sept, 09:42
New Report Maps How Ethiopia Could Turn Farm Waste Into a Multi-Million-Dollar Industry#EBR_News Sep 22, 2026Ethiopia could unlock significant economic value from its agricultural leftovers, according to a new report jointly commissioned by the Embassy of the Kingdom of the Netherlands in Ethiopia and prepared by Dutch circular economy firm SPAAK and the non-profit TRAIDE Foundation.Titled "From Waste to Value: Valorising Agricultural Waste Streams in Ethiopia" and released in July 2026, the study identifies practical business opportunities in coffee, oilseed, livestock, banana and fruit residues that are currently burnt, dumped or left to rot.According to the report, roughly 70 percent of Ethiopia's organic waste ends up rotting in open dumps, contaminating water sources, while about a quarter of the country's farmland has become degraded and highly acidic. The report notesTelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
22 Sept, 09:42
Ethiopian Business Review
22 Sept, 08:43
Dashen Bank Super App Crosses Half a Trillion Birr in Transactions, More Than Doubling Since February#EBR_News Sep 22, 2026Dashen Bank's Super App has surpassed half a trillion birr in cumulative transaction volume across more than 50 million transactions, according to a social media post by the bank.The milestone represents more than a doubling of transaction volume since February 2026, when the bank reported the platform had processed over 220 billion birr across 23 million transactions and reached 2 million customers, as EBR reported at the time. The transaction count has also more than doubled over the same period, from 23 million to over 50 million.Launched in January 2025 as Ethiopia's first banking super application, the platform integrates personal and business banking services including instant fund transfers, QR payments, virtual cards, and interest-free bankingTelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
22 Sept, 08:42edited
Ethiopian Business Review
22 Sept, 07:47
Egypt Says It Approved South Sudan's Fula Dam, Draws Contrast With Its Opposition to Ethiopia's GERD#EBR_News Sep 22, 2026Egypt has agreed to South Sudan's planned Fula hydropower dam after reviewing technical studies submitted under the Nile Basin Initiative, Egyptian Water Resources and Irrigation Minister Hani Sewilam said in Cairo on Sunday, according to Ahram Online. Sewilam said the reviews found the project's anticipated effects to be "very limited" and within manageable levels.According to Ahram Online, Sewilam's comments followed remarks by South Sudan's Energy and Dams Minister Agok Makur, who said Juba was ready to proceed with dam projects, including Fula, and had no reason to fear opposition from downstream countries."We are not afraid to build our dams because we have a right and we are sovereign, and also South Sudan is part of the Nile Basin," Makur said,TelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
22 Sept, 07:46
Ethiopian Business Review
22 Sept, 06:22
Maersk Extends Late Payment Fee Grace Period to 15 Days for Djibouti and Ethiopia#EBR_News Sep 22, 2026Maersk has extended the grace period for its Late Payment Fee application in Djibouti and Ethiopia from 7 calendar days to 15 calendar days after the invoice due date, according to a notice from the shipping company dated September 18, 2026.According to Maersk, a Late Payment Fee is applied when an invoice remains unpaid beyond the allowed payment period following the invoice due date.The fee remains unchanged at $40 per shipment. Maersk said the extended timeline recognises that additional time may be required to complete the clearance and payment process, giving customers more time to settle outstanding invoices before the fee becomes applicable.The change applies to shippers using Maersk's services through Djibouti, Ethiopia's primary maritime trade gateway, and comes asTelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
22 Sept, 06:22
Ethiopian Business Review
21 Sept, 11:09
Study of 638,000 Addis Ababa Students Finds School Lunches Cut Dropout Rate by Half#EBR_News Sep 21, 2026A study covering public primary schools in Addis Ababa has found that a school feeding programme reduced the average student dropout rate from 2.91 percent to 1.48 percent, according to research published in the journal Scientifica. The study was conducted by a research team from the University of Gondar.The study examined 24 public primary schools in Kolfe Keranio sub-city, part of a wider School Feeding and School Supplies Program that covers 638,857 students across 264 public primary schools in Addis Ababa.Researchers compared dropout rates in the three years before the programme began in the schools (2026–2018) against the four years after (2019–2022), finding that in every year following the programme's introduction, dropout rates never exceeded the lowest rate recordedTelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
21 Sept, 11:09
Ethiopian Business Review
21 Sept, 07:30
MIDROC Raises Minimum Starting Salary to 10,000 Birr, Allocates 3.24 Billion Birr for Pay Increments#EBR_News Sep 21, 2026MIDROC Investment Group will raise its minimum starting salary to 10,000 birr, up from 6,000 birr, for the 2026/27 fiscal year, according to CEO Jemal Ahmed, who announced the change at the group's Family Day and annual performance evaluation event.The company said it has allocated an additional 3.244 billion birr toward salary increments starting in September.According to Jemal, the salary increase brings MIDROC's total annual payroll to 13 billion birr, up from 8.5 billion birr previously.He said the group distributed 1.2 billion birr in employee bonuses during the 2025/26 fiscal year, with individual bonuses ranging from one to four months' salary depending on performance. Separately, 700 top-performing employees each received individual recognitionTelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
21 Sept, 07:30
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19 Sept, 12:29
Gadaa Bank's Profit Before Tax Jumps 135% to 1.05 Billion Birr in 2025/26#EBR_News Sep 19, 2026Gadaa Bank S.C. reported profit before tax of 1.05 billion birr for the 2025/26 fiscal year, a 135 percent increase from 444.79 million birr the previous year, according to the bank's consolidated annual report presented at its 5th Annual General Meeting, held at the Addis Ababa International Convention Center on September 19, 2026.According to the report, gross revenue reached 2.96 billion birr, up 77 percent from the previous year, while total expenses stood at 1.9 billion birr, an increase of 55 percent attributed to sustained branch expansion, staffing, and technological development.After an income tax expense of 286.76 million birr, profit for the year stood at 759.23 million birr, more than double the 342.76 million birr recorded the previous year.Total comprehensive income forTelegramEthiopian Business ReviewEBR is an expertly and independently written, masterfully designed, and well-circulated magazine.Ethiopian Business Review
19 Sept, 12:28
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