Somali Micro Finance, which is known for its mobile finance service called Hello Cash, transforms into a bank named Shabelle. The bank is formed with a capital of more than Birr 500 million.

Somali Micro Finance was established in 2011. It is the third micro finance institution in Ethiopia to evolve into a bank following Oromia Credit and Saving Institution and Amhara Credit and Saving Institution. Shabelle Bank conducts all its operations under the principles of Islamic Banking.

Source: Fana BC

Additional source: Shebelle Bank

Ethiopian Airlines Group, the largest airline in Africa, and the Ethiopian Airports Services are pleased to announce to their valued customers that they have availed free Wi-Fi connection at its main hub, Addis Ababa Bole International Airport as of October 2017.

Proclamation which allows Ethiopia to join African Trade Insurance Agency (ATIA) is promulgated by the House of Peoples’ Representative (HPR).

African Development Bank (ADB) extended 7.5 million USD for Ethiopia so that the nation can buy shares in 75 shares and join ATIA.

Ethiopian Airlines the largest in Africa is pleased to announce the commencement of mobile payment for online ticket purchase in Ethiopia. The option was made possible with the cooperation of the Commercial Bank of Ethiopia (CBE) and Flocash an integration system provider.

Ethiopia's privately owned Awash International Bank has reported a 639 million Ethiopian birr unaudited gross profit in the 2012/13 fiscal year. Tsehay Shiferaw, President of AIB, told journalists at a press conference held on Friday August 2 at the Addis Ababa Hilton Hotel, that the bank's profit has grown by 180.6 million birr (18%) compared to the previous fiscal year.

The registered profit may make AIB the leading profitable private financial institution in Ethiopia, according to the reports of Capital. Awash’s total revenue in 2012/13 fiscal year reached 1.4 billion birr, showing a growth of 309 million birr or 28 percent when compared with the previous year.