During the current Ethiopian fiscal year, the Development Bank of Ethiopia (DBE) has committed to offering loans exceeding Birr 20.4 billion Birr to small and medium-sized enterprises (SMEs). DBE has been actively involved in supporting SMEs by providing both financial assistance and training, recognizing the sector's potential to contribute to the national economy.
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Abai Bank and Safaricom M-PESA have partnered to create a strategic business relationship. Abai Bank has been designated as Safaricom's M-Pesa super agent, responsible for facilitating mobile banking and agent banking activities.
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Dashen Bank, one of Ethiopia's largest banks, has received a USD 40 million loan from the British International Investment (BII) and the Dutch Entrepreneurial Development Bank (FMO). The loan will help Dashen Bank strengthen its export lending capabilities and support agricultural product exporters by facilitating the purchase of new machinery.
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Safaricom Ethiopia officially launched its M-PESA mobile financial services today following the receipt of a Payment Instrument Issuer License from the National Bank of Ethiopia three months ago.
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The National Bank of Ethiopia (NBE) introduced reforms to its monetary policy in order to address the issue of inflation. The bank plans to reduce inflation to 20 percent by the end of the 2023/2024 fiscal year, and 10 percent by the end of the next fiscal year.
