2merkato

Ethiopia has reached a preliminary agreement with the International Monetary Fund (IMF) to secure a USD 261 million loan. The financing forms part of a four year, USD 3.4 billion extended loan program that the IMF plans to make available to the country.

Ethiopia has launched the National Digital Payment Strategy 2026 to 2030 together with a new Instant Payment System, marking another step in the country’s ongoing digital finance reforms. The launch took place during the second Ethiopia Digital Payment Conference held in Addis Ababa.

Hibret Bank has reported a pre-tax profit of Birr 749.04 million for the 2024/25 fiscal year, according to disclosures made during its 28th Annual General Meeting of Shareholders.

Ethswitch, the entity responsible for operating Ethiopia’s national payment system infrastructure, has reached the final phase of integrating its domestic card schemes with 32 international card networks through a partnership with the Discover Global Network.

Hibret Insurance stated that it recorded a profit in the billions of birr during the 2024/25 fiscal year, according to a report presented at the company’s annual shareholders’ meeting.