BankinginEthiopia

Standard Bank Explores Entry into Ethiopia’s Banking industry

Standard Bank Explores Entry into Ethiopia’s Banking industry

Standard Bank, headquartered in South Africa, has expressed its interest in joining the Ethiopian banking market, marking a significant move in its expansion strategy. The bank's decision to apply for an investment banking license in Ethiopia reflects its recognition of the country's potential as one of the largest untapped markets in Africa. Ethiopia's Capital Market Authority recently announced its readiness to accept applications for investment banking licenses, signaling a pivotal moment for foreign financial institutions seeking entry into the Ethiopian market. By promptly responding to this call and showcasing their commitment, Standard Bank has positioned itself among the frontrunners in…
Read More
Amhara Bank Revokes President amid Financial Woes

Amhara Bank Revokes President amid Financial Woes

In a recent turn of events, Amhara Bank has removed its president, Mr. Henok Kebede, from his position. The decision was made by the bank's Board of Directors, citing Mr. Kebede's responsibility for causing a substantial loss of 460 million birr to the institution. This move comes on the heels of Mr. Henok Kebede's resignation as the CEO of Amhara Bank. The Board of Directors took the unprecedented step of revoking the signatures of the CEO and the Chief Corporate Service Officer, Mr. Henok Kebede. This action was taken in response to what the chairman of the bank's board described…
Read More
Ethiopian Bank revises loan interest rates

Ethiopian Bank revises loan interest rates

The Development Bank of Ethiopia has revised the loan interest rates for agricultural projects. The bank announced a reduction in the interest rate for borrowers engaged in agricultural activities from 11.5 percent to 7 percent. This revision aims to encourage agricultural activities in Ethiopia by reducing the interest rate charged on loans to borrowers. The discounted loan interest seeks to utilize uncultivated land resources and encourage investors, farmers, and pastoralists in Ethiopia. The new interest rate of 7 percent applies to small, medium, and corporate project loan applicants in the agricultural investment sector. The Ethiopian Development Bank is a government…
Read More
Banking Jobs in Ethiopia

Banking Jobs in Ethiopia

Bank of Abyssinia seeks to hire applicants for the positions of 1. Grade I Branch Manager       Place of Work: Adola Branch (Hawassa District) 2. Grade II Branch Business Manager Place of Work: Hossana Branch (Hawassa District) 3. Grade I Branch Business Manager Place of Work: Fafen and Chencha (Dire Dawa and Hawassa District) 4. Banking Business Officer and Banking Operation Officer Place of Work: Haramaya and Hart Sheik Branches (Dire Dawa District) Use the link below to apply for the vacancy: https://vacancy.bankofabyssinia.com/
Read More
Yared Endale appointed as VISA country director in Ethiopia

Yared Endale appointed as VISA country director in Ethiopia

Addis Ababa, Ethiopia, Ethio Negari, July 2023 – Visa, the global leader in digital payments, has appointed Yared Endale, as the new Country Lead for Ethiopia, subject to regulatory approval. Yared will serve as the Senior Business Development Leader and Country Manager for Ethiopia and will be part of Visa’s East Africa leadership team.  He will be responsible for the development and implementation of the company’s growth strategy in the country including building long-term relationships with clients, regulators, and other key stakeholders to drive the adoption of cashless payments. Speaking on the new appointment, Ag. East Africa GM at Visa…
Read More
Latest Jobs in Ethiopia

Latest Jobs in Ethiopia

We Are Hiring! Bank of Abyssinia seeks to hire applicants for the following positions; Job Title:- Grade I Branch ManagerPlace of Work: Afdera, Diche Oto, Genete, Majete and Tulu Awulia Branches - Under Dessie District Job Title: Foreclosure OfficerPlace of Work: Addis AbabaUse the link below to apply for the vacancy: https://vacancy.bankofabyssinia.com
Read More
Ethiopia to grant licenses to five foreign banks

Ethiopia to grant licenses to five foreign banks

The National Bank of Ethiopia has announced that five foreign banks will be granted licenses to enter and provide services in Ethiopia. The bank also stressed that indigenous banks should make extensive preparations and review their previous strategies. The Deputy Governor of the Financial Institutions Sector of the National Bank of Ethiopia, Mr. Solomon Desita, said that in addition to strengthening local financial institutions, efforts are being made to bring foreign banks into the country. "We are completing the work now.  We are also completing the work of revising the decree.  We are asking for some input from donors, and…
Read More
Latest Jobs in Ethiopia

Latest Jobs in Ethiopia

Bank of Abyssinia seeks to hire applicants for the following positions; 1) Job Title: - Cash Office Attendant  Place of Work: Abocabot, Abrhajira, Adet, Amba Giorgis, Anbesame, Bibugn, Bichena, Blue Nile, Chwahit, Debre Tabor, Debre Work, Delgi, Dibza, Ehudit, Felege Birhan, Gafat, Geray, Gerchech, Gonji, Gozamen, Hamusit, Jantekel, Jemiuel Kheirart, Kuch, Kuyi, Maksegnit, Manbuk, Menkorer, Metema Yohannes, Motta, Quara, Rebu Gebeya, Sedie, Selassie Gebeya, Shahura, Shebel, Sheh Ali Gonder, Shendi, Soroka, Tach Gayint, Teda, Wad, Wejel, Wetet Abay, Wogedad, Woyin Wuha, Yejube, Yoftahie Nigussie, Zoble, Abune Hara, Fogera, Yifag and Brakat Branches under Bahir Dar District 2) Job Title: -…
Read More
Ethiopia’s National Bank Denies Banks Liquidity

Ethiopia’s National Bank Denies Banks Liquidity

By Samuel Abate The National Bank of Ethiopia has denied the cash shortages in commercial banks. In Ethiopia, especially private banks have been described in various ways as having a shortage of cash. Several media reported that bank institutions did not give cash to their customers. The National Bank, which is participating in the sixth East African Financial Conference, responded to the matter. According to the Deputy Governor of the National Bank, Mr Solomon Desita, "The information that private banks in Ethiopia are facing a shortage of cash is false." He also added that we have heard five banks are facing…
Read More
Ethiopia to grant license for five foreign banking

Ethiopia to grant license for five foreign banking

Ethiopia plans to grant five banking licenses to foreign investors who are interested in working in the banking sector in the next five years. According to Reuters, the deputy governor of the National Bank, Solomon Desita, will grant banking licenses to upto five foreign investors who want to work in Ethiopia's banking sector. Mr Solomon stated that, this aims to open up the country's financial sector services to foreign competitors. So far, the banking sector has remained closed to foreign investors. It has been announced that it will be open to foreign competitors in the next five years. In addition,…
Read More