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Central bank of Ethiopia caps credit expansion at 14% in inflation fight
The National Bank of Ethiopia imposed a 14 percent limit on annual credit expansion to reign in high inflation fueled by massive loan growth exceeding 382 billion birr as of February 2023. Authorities aim to reduce inflation pressures as bank lending has boosted money supply.
The National Bank of Ethiopia doubles forex retention limit for exporters
The National Bank of Ethiopia (NBE) has doubled the percentage of foreign currency that Ethiopian exporters can retain from their export earnings from 20% to 40%. This means that exporters will now be able to keep 40% of their foreign currency earnings, while 50% will be surrendered to the central bank and 10% will be surrendered to commercial banks.
World Bank suspends new funding to Uganda over anti-homosexuality law
The #WorldBank has suspended new public financing to #Ugandain response to the country's controversial #AntiHomosexualityAct. In a statement released on August 8, 2023, the World Bank said “the new law fundamentally contradicts its values of inclusion and non-discrimination.”
Uk funds 2nd phase of AU verification team monitoring peace deal implementation
The UK government has announced funding to support the African Union's Monitoring Verification and Compliance Mechanism (AU MVCM) team monitoring implementation of the Pretoria...
Beyond the castle walls Africans explores Prague
The spires of Gothic churches and Baroque palaces pierce the early morning fog that hangs over Prague, capital of the Czech Republic. Trams trundle...
Toilet on the go
What started as a desire to help those with nowhere to relieve themselves has become an unlikely service for the capital city - a mobile toilet, offering customers’ dignity for just 5 birr. While crude, Yacob Ferede's invention fills an essential need, providing respite for commuters, travelers and workers left with few options in a city struggling with a lack of public restrooms. His mobile toilet demonstrates how even the humblest solutions can make a big difference.
Head of Refugee Agency steps down
Tesfahun Gobezay, Director General of Refugees and Returnees Services (RRS), has announced that he will leave his position effective July 21, 2023 after more than two years in the role.
New import rules aim to protect national security from IT threats
The Ethiopian government is taking steps to strengthen security measures related to imported information technology products through a new draft proclamation approved by the Council of Ministers today. The draft proclamation, which still needs approval from parliament, aims to curb potential security threats posed by imported IT products like computers, phones, networking equipment, and software.
Djibouti port gets $120m injection from Afreximbank
The African Export-Import Bank (Afreximbank) has disbursed USD 120 million financing facility to Djibouti's Great Horn Investment Holding (GHIH) for development projects in Djibouti's...
Ethiopia ends social media blockade after four months
The Ethiopian government has lifted internet restrictions on major social media platforms after months of blocking access. The restrictions, which affected services like Facebook, Instagram,...
