In the aim of avoiding burning currency, which is the traditional way of destroying currency in Ethiopia, National Bank of Ethiopia (NBE) installed a machine that will change tired bills to inputs for brick manufacturing.
The National Bank of Ethiopia (NBE) has announced a Special Foreign Exchange Auction scheduled for February 25, 2025, with USD 60 million available for bidding by all banks.
Ethiopia's National Bank Governor, Mamo Mehretu, highlighted the transformative potential of digital financial services during a recent panel discussion on the Digital Ethiopia 2025 strategy review. His focus was on the upcoming changes driven by new regulations and increased competition.
The National Bank of Ethiopia is revamping its gold buying scheme to combat a decline in official gold supplies. The bank announced significant price hikes for suppliers, hoping to stem the flow of gold into the black market.
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.
