2merkato

The National Bank of Ethiopia (NBE) has announced plans to establish a central Shari’ah Advisory Board to strengthen governance and oversight of the country’s growing interest free banking sector.

Chinese construction companies have emerged as leading contenders in the shortlist for the construction of Ethiopian Airlines’ planned new airport, as the airline moves closer to awarding major construction contracts for the USD 12.5 billion aviation project.

China’s Zijin Gold International has acquired approximately 9.2 percent of Canadian mining company Allied Gold Corporation, giving the company indirect exposure to major gold assets including the Kurmuk project in western Ethiopia.

Ethiopian and Chinese businesses have signed 33 trade agreements worth more than USD 340 million as part of efforts to expand bilateral trade and increase Ethiopia's exports to the Chinese market.

The Ethiopian government has directed the collection of all federal fuel taxes at full statutory rates, with the measure expected to generate revenue equivalent to about 0.8 percent of gross domestic product in the 2026/27 fiscal year.

The Ministry of Water and Energy has signed a contract worth more than Birr 933.6 million with Bigeta Business PLC for the drilling and construction of water wells in Angacha Woreda, Kembata Zone, Central Ethiopia Regional State.

Ethiopia has set a target of generating USD 13.4 billion in export revenue during the 2026/27 fiscal year, as the government seeks to increase foreign exchange earnings and expand the country’s presence in international markets.

Siinqee Bank reported a pre-provision profit of Birr 10.7 billion for the 2025/26 fiscal year, according to figures presented during the bank’s annual operational review held at the Ethiopian Skylight Hotel.

Ethio telecom and Chinese telecommunications technology company ZTE have expanded 4G population coverage to 92 percent within ZTE’s service circle as the two companies advance a major network modernization and expansion program across Ethiopia.

EthSwitch S.C., operator of Ethiopia’s national payment infrastructure, has opened an international settlement account with Bank of Abyssinia as part of efforts to connect the country’s payment system with global card networks.