National Bank of Ethiopia’s Post

DEBO | ደቦ The National Bank of Ethiopia has launched Debo, an awareness initiative aligned with the new Foreign Exchange Directive 01/2024. The initiative aims to educate the Ethiopian Global Community on the reforms, offering clear guidelines and benefits for using Foreign Currency Accounts (FCY) and legal remittance systems. By promoting understanding and adoption of these policies, Debo seeks to strengthen Ethiopia’s economic growth.

Focus is essential

#EthiopiaBanking The National Bank of Ethiopia (NBE) introduces a draft directive limiting commercial banks' equity investments in non-banking businesses to 10pc of their total capital. The move is designed to anchor banks to their primary roles in lending and deposit mobilisation, steering clear of speculative ventures. It carves out an exception, allowing banks to fully invest in capital market service providers, signalling a strategic opening towards developing the nascent capital markets within the financial sector. READ MORE: https://ow.ly/VEr250QXnwt

Let's take a look at the evolution of Ethiopia's banking sector, from the initial establishment of modern banking practices in 1906 to its current state as a thriving industry, with commercial bank assets surpassing 3 trillion birr in 2022. The remarkable growth of the sector reflects the nation's economic trajectory and the increasing significance of financial services in driving inclusive growth. For valuable data and actionable insights, please visit https://lnkd.in/dcY-jgqX #DigitalFinance #AKOFADA #FinancialInclusion #Ethiopia

We are pleased to present an insightful infographic that delves into the vibrant ecosystem of domestic remittances in South Africa, highlighting its critical role as a financial lifeline for countless individuals. This visualization offers a comprehensive examination of the flow of funds within the country, shedding light on the significant impact of these transactions. Engage with our infographic to understand the intricate dynamics of South Africa's domestic remittance landscape. #FinancialInclusion #Remittances #SouthAfrica #EconomicImpact #FinancialLifelines #BangCapital

Achieving interoperability across payment systems in Africa will make the single-market concept meaningful to tens of millions of ordinary traders in Africa. - Gabby Asare Otchere-Darko; Chairman, Africa Prosperity Network #apd2025 | #AfricaProsperityDialogues |#APN |#AfCFTA | #apd25launch

Big Changes at Ethiopia's National Bank! 💼 Great news! Unite.et is here, making it simple for Ethiopians overseas to open bank accounts back home in local and foreign money. Made with help from 30 banks, Unite.et lets you manage accounts and ask for loans online or on your phone. It's a key part of NBE's DEBO plan, backing new rules about foreign money. At the kickoff, NBE boss Mamo Mihretu talked about how these changes will help Ethiopia's economy grow by getting Ethiopians abroad more involved in the country's money system. Unite.et, built by local tech company Visitor, also helps you send money fast and use other bank services. Banks have set aside 100 billion birr to get people from abroad to invest, offering good exchange rates. [Find out how Unite.et is changing banking across borders and helping Ethiopia's economy](Insert Link) #Money #Banks #GrowingEconomy #NewIdeas #Ethiopia #DEBOPlan #UniteET #NBE #Ethiopia #Dollar #Currency

5 Important Things Happening in South Africa Here's what's going on in and affecting South Africa right now: SARS under pressure: In a last-ditch effort to plug the expanding budgetary chasm, the South African Revenue Service (SARS) is offering payment options to delinquent taxpayers. In 2023, South Africa's GDP is anticipated to rise by j... Read more: https://lnkd.in/dzG-itzd #iobsa #banking #bankingindustry #bankingnews #finance

5 Important Things Happening in South Africa Here's what's going on in and affecting South Africa right now: SARS under pressure: In a last-ditch effort to plug the expanding budgetary chasm, the South African Revenue Service (SARS) is offering payment options to delinquent taxpayers. In 2023, South Africa's GDP is anticipated to rise by j... Read more: https://lnkd.in/db24H-gn #iobsa #banking #bankingindustry #bankingnews #finance