Wahid Business News

Latest News

News - Financial

Ethiopia’s state-owned Commercial Bank (CBE) to open a branch in Somaliland

Ethiopia and Somaliland have agreed to explore closer financial cooperation, including the possible establishment of a branch of Ethiopia’s state-owned Commercial Bank in SomalilandOfficials …

Sep 01, 2025

Regulations - Transport

Ethiopia Tightens Rules for Truck Importers

The Ethiopian Ministry of Transport and Logistics (MoTL) has introduced stricter requirements for truck importers to address low-quality imports and poor after-sales service. Following …

Aug 15, 2025

Regulations - Transport

Domestic diesel vehicle assemblers said they are on the verge of shutting down their Assembling plants

A recent memo from the Industry Minister to the central bank, Customs Commission, and the Transport and Finance ministries declares that components for the …

Aug 04, 2025

News - Transport

The British International Freight Association (BIFA) has established a partnership with its Ethiopian counterpart, the Ethiopian Freight Forwarders and Shipping Agents Association (EFFSAA)

On Tuesday, May 27, BIFA and EFFSAA formalized a Memorandum of Understanding (MoU) aimed at facilitating knowledge and experience sharing

Jun 09, 2025

News - Financial

Afrexim bank has allocated 1 Billion USD for Ethiopia for the coming year.

Afreximbank conducted a two-day roadshow in Addis Ababa, its second in four years, on June 2-3, 2025 at Hayat Regency Hotel. Ethiopia has accessed …

Jun 09, 2025

News - Financial

CBE has increased its official dollar buying rate by 7 birr—from 124.0086 to 131 birr—in under a week.

CBE is now offering an additional 10 birr bonus per dollar on all remittance earningsThis effectively brings the total payout to 141 bir

May 28, 2025

Electric

Guangzhou Automobile Group Co., Ltd (GAC Group) has introduced two of its electric vehicle (EV) models to the Ethiopian market

The company unveiled its AION Y and ES9 modelsThe Ethiopian government has already banned the production, import, and assembly of gas-powered carsmore than 100,000 …

May 22, 2025

News - Financial

Today, on May 20th, NBE introduced several reform measures to improve FOREX market

NBE has increased the import advance limit from 5,000 USD to 50,000 USD per import transactionNBE has improved the limit for Ethiopians who travel …

May 20, 2025

News - Transport

Gulf Ingot set to launch operations as new multimodal operator in the logistics sector of Ethiopia

Gulf Ingot has established a presence in Dire Dawa, a major commercial hub near the Djibouti border, as well as in Addis Ababa. It …

May 20, 2025

News - Financial

Ethio telecom Dives Deeper into Ecommerce with Digital Marketplace App dubbed "Zemen Gebeya"

‘Zemen Gebeya’ brings together consumers, vendors, and delivery services, much like Amazon or Alibaba. It is equipped with a merchant portal, logistics management system, …

May 14, 2025

News - Financial

Defense Engineering Industry Corporation (DEIC) to take-over two industrial complexes previously under the Ethio Engineering Group (EEG)

DEIC to take control of Bishoftu Automotive Engineering Industry and High Tech Engineering, both of which were previously under EEG. When the Council of …

May 14, 2025

Electric

New draft automotive development policy promises incentives for Electric, Hydrogen-powered and LPG vehicles

Charging equipment for electric vehicles will be exempt from taxThe draft policy widens that tax gap by imposing a

May 14, 2025

News - Financial

China has officially launched the China Chamber of Commerce to Africa (CCCA) in Addis Ababa, marking a significant step in deepening Sino-African economic ties

The CCCA launches with 15 founding members representing key sectors such as agriculture, construction, manufacturing, telecommunications, energy, and healthcare, with plans to expand membership …

May 09, 2025

News - Transport

Starting from 9th, May, 2025, Ethiopia increases fuel price by 10 Birr, and showed a decrease on jet fuel by 3.21%

<table class="table table-bordered" style="caption-side: bottom; --bs-table-bg: transparent; --bs-table-striped-color: #607080; --bs-table-striped-bg: rgba(0, 0, 0, 0. 05); --bs-table-active-color: #607080; --bs-table-active-bg: rgba(0, 0, 0, 0. 1); --bs-table-hover-color: …

May 09, 2025

News - Financial

Banks are being urged to align their foreign exchange rates with the parallel market

While the gap between the official and black-market rates has narrowed from over 100% to around 8%, the rates should be nearly identicalCurrently, many …

May 09, 2025

News - Financial

Dashen Bank has officially secured a 40 million USD trade finance guarantee from the African Development Bank

The facility, approved under the AfDB’s Transaction Guarantee Product, will allow Dashen Bank to issue letters of credit and other trade instruments backed by …

May 02, 2025

Regulations - Financial

Ehiopia’s Council of Ministers has approved a draft law that would permit foreign nationals to own immovable property

It proposes a legal framework that enables foreign ownership of real estate while preserving citizens’ rights to land use. The measure is designed to …

May 02, 2025

News - Financial

As part of the World Bank’s Financial Sector Strengthening Project (FSSP), CBE is set to receive USD 650 million in funds

Key conditions for disbursement included the government issuing a 900 billion birr bond, which is a prerequisite for CBE to receive USD 250 million …

May 01, 2025

News - Financial

Sinqee Bank and Ethio telecom signed a 15 billion Br agreement to roll out “Wabii Digital Finance”

Will steer 10 billion Br to small- and medium-size enterprises, four billion Birr to finance smartphones and other devices, and 1. 3 billion Br …

May 01, 2025

News - Financial

Fitch Ratings, the global rating agency, has opted to keep Ethiopia’s credit rating at Restrictive Default

the same rating it issued after Ethiopia failed to pay the first USD 33 million coupon on its USD one billion Eurobond in December …

May 01, 2025

Diesel/Gasoline

Kerchanshe Group has partnered with Zhejiang Geely Holding Group to become the exclusive dealer of Geely vehicles in Ethiopia

- Kerchanshe_Auto, the motor vehicles division of the Kerchanshe Group, will soon start the work of assembling Geely vehicles locally

Apr 30, 2025

News - Financial

Ethiopian Investment Commission is handing out 40 export, import, retail, and wholesale trade investment permits to foreign companies

The directive allows foreign investors to engage in the export trade of raw coffee, khat, oilseeds, pulses, hides and skins, forest products, poultry, and …

Apr 14, 2025

Electric

China’s Golden Dragon Bus has delivered 100 electric buses to Ethiopia’s Belayneh Kindie Group (BKG)

Golden Dragon’s presence in the country has expanded steadily, with nearly 900 new energy buses now in operation across EthiopiaGolden Dragon and BKG began …

Apr 11, 2025

Regulations - Transport

Addis Ababa to Fine Taxis and Regulate Business Hours Under New Citywide Directive

Taxis that do not operate until 10:00 PM in Addis Ababa will face a fine of 5,000 birrBanks are also now required to remain …

Apr 11, 2025

Regulations - Financial

Ethiopian Customs Commission tightens the regulation of goods imported without foreign currency payments (Franco-Valuta)

The National Bank of Ethiopia (NBE) confirmed the repeal of the decades-old Establishment Proclamation No. 691/2000, replacing it with the more robust NBE Proclamation …

Apr 09, 2025

News - Transport

Fuel prices in Ethiopia goes up again in March, 2025

The new prices mark significant hikes from the last adjustment on January 7, 2025, which held steady through FebruaryFuel typeold price(Birr)new price(Birr)% changeGasoline101. 47112. …

Apr 09, 2025

Regulations - Financial

INVEST ETHIOPIA 2025 High-Level Business Forum, set to take place on May 12-13, 2025 at Skylight Hotel

The event, jointly organized by government institutions, the private sector, and development partners, is expected to draw over 1,000 global participants, according to the …

Apr 08, 2025

News - Financial

Ethiopia - New directive mandates foreign banks establishing subsidiaries or branches must provide five billion birr

- The directive mandates a minimum paid-up capital of five billion birr—approximately 39. 7 million US dollars at the current average exchange rate of …

Apr 08, 2025