In a significant shift for Ethiopia’s monetary policy, the National Bank of Ethiopia (NBE) recently unveiled a new directive aimed at transforming the country’s foreign exchange market. As of July 2024, the NBE no longer sets official exchange rates; instead, rates will be determined by market forces based on negotiations between banks and their clients. …
Ethiopia’s banking sector is undergoing a significant transformation with the introduction of new banking policies aimed at fostering financial inclusivity and stability. These reforms reflect the government’s commitment to modernizing the financial system, ensuring broader access to banking services, and supporting economic growth. Hereโs a closer look at the key elements of Ethiopiaโs new banking …
The Council of Minsters of Ethiopia approved the new public service and administration Policy.
