Illegal Forex Crackdown: Ethiopia Freezes Bank Accounts of 123 Suspects

Illegal Forex Crackdown: Ethiopia Freezes Bank Accounts of 123 Suspects Addis Ababa — September 9, 2018 (FMC) — Ethiopian authorities have intensified their fight against black-market currency trading, announcing the immediate freezing of bank accounts belonging to 123 individuals suspected of engaging in illegal foreign exchange activities. Financial Security Service Action The Financial Security Service (FSS) stated that it has suspended the financial operations of these suspects and launched legal proceedings to hold them accountable. According to the agency, while the majority of citizens and businesses are using foreign exchange services lawfully within the framework of the country’s macroeconomic reforms, ongoing surveillance has revealed a parallel network of operators exploiting the system for illicit profit. Evidence of Black-Market Dealings Preliminary investigations uncovered that certain individuals and groups have been running black-market forex schemes, undermining Ethiopia’s efforts to stabilize its currency. Surveillance data further suggests that some banking professionals may also be complicit, raising serious concerns about internal controls within financial institutions. Authorities indicated that these allegations are under active investigation. Broader Economic Context Ethiopia has been undertaking wide-ranging macroeconomic reforms to modernize its financial sector and attract foreign investment. A key element of these reforms is to bring currency markets under transparent regulation. However, the existence of a thriving black market has continued to put pressure on the Ethiopian birr and complicated the government’s efforts to maintain a stable exchange rate. Next Steps and Legal Measures The FSS confirmed that it is working in close coordination with key stakeholders—including commercial banks and law-enforcement agencies—to pursue legal action against those involved in currency crimes. The agency reaffirmed its commitment to enforcing Ethiopia’s financial laws and warned that similar operations will continue until illegal foreign exchange activities are eliminated. Significance for the Financial Sector This sweeping crackdown highlights the government’s determination to protect the integrity of the banking system and discourage speculative currency trading. Analysts note that such actions send a strong signal to both domestic and international investors that Ethiopia is serious about strengthening financial governance and ensuring that economic reforms are not undermined by illegal practices. The Financial Security Service concluded its statement by urging the public and banking sector employees to remain vigilant and report any suspicious foreign exchange transactions, underscoring that safeguarding the nation’s financial stability is a collective responsibility.

Who Is Eyob Tekalign Tolina? Ethiopia’s New National Bank of Ethiopia Governor

Who Is Eyob Tekalign Tolina? Ethiopia’s New National Bank of Ethiopia Governor Prime Minister Abiy Ahmed (PhD) has appointed Dr. Eyob Tekalign Tolina as the new Governor of the National Bank of Ethiopia (NBE). His appointment comes shortly after the resignation of Mamo Mihretu, who left the post in early September following nearly three years of service. Extensive Experience in Finance and Planning Before taking up the governorship, Dr. Eyob served as State Minister of Finance and Planning, where he was closely involved in shaping Ethiopia’s macro-economic policy and coordinating the government’s development agenda. He previously headed the National Planning Commission, leading the design and implementation of the country’s Homegrown Economic Reform Agenda. Internationally, he has advised Ethiopia’s representatives at both the World Bank and the International Monetary Fund, and worked as a Minister Counselor at the Ethiopian Embassy in Washington, D.C. His career also includes consulting work in the private sector, giving him insight into how public and private institutions interact in driving economic development. Academic and Professional Credentials Dr. Eyob holds a PhD in Political Economy from the University of Maryland, a master’s degree in International Development from a U.S. university, and a bachelor’s degree in Economics from Addis Ababa University. His combination of academic training and practical policy experience has made him a recognized voice in public finance management, private-sector development, and international economic cooperation. Central Bank’s Mandate and Current Challenges The National Bank of Ethiopia is responsible for monetary policy, foreign-exchange management, banking supervision, and oversight of payment systems. Dr. Eyob steps into the role at a time when the Bank faces persistent inflationary pressures, continued foreign-exchange shortages, and the need to accelerate reforms that will modernize Ethiopia’s financial sector. Following Mamo Mihretu’s Tenure During his time as governor, Mamo Mihretu initiated steps toward liberalizing the foreign-exchange market, worked to strengthen financial-sector oversight, and sought to contain inflation. His departure earlier this month created an opening for new leadership to continue these efforts. The Prime Minister’s Office has not yet released details of Dr. Eyob’s policy agenda. Analysts expect his immediate priorities to include stabilizing the exchange market, reinforcing price stability, and advancing financial-sector reforms designed to widen access to banking and support sustainable economic growth.

Ethiopia’s Banking Apps 2025: Winners Ranked by Installs, Ratings & Reliability

Ethiopia’s Banking Apps 2025: Winners Ranked by Installs, Ratings & Reliability Ethiopia’s Banking Apps 2025: Winners Ranked by Installs, Ratings & Reliability The quiet revolution in Ethiopian finance is not unfolding in boardrooms but in pockets. The nation’s money now travels by tap and QR code, and the contest is being fought on screens that fit the palm. The rules are simple and unforgiving. First, win the crowd—on Android, where most people are. Then keep the demanding few—on iPhone, where expectations run high and word spreads quickly, especially across borders. This report reads the market by presence before polish: red charts show Android performance, ordered by install bands; blue charts show iPhone ratings (installs aren’t published). What emerges is less a feature race than a test of calm: which app lets a user log in, check, and move money without fuss—every time. Seen through installs, the pecking order sharpens. At the summit is CBE (Android 5M+ installs, ≈36.8k reviews). Behind it, Awash (1M+), then a 500k+ pairing—BoA (Apollo) and Dashen. The 100k+ middle class—Amhara, Oromia, Nib, Hibret, Bunna, Wegagen, Enat, Siinqee, Berhan—is busy and improving. Newer names cluster in the long tail, praised early; the test is growth without wobble. Deep analysis: what the data actually says The numbers are unglamorous but decisive. Users reward apps that disappear into the day: open, log in, check a balance, pay a bill. Everything else—QR flair, ticketing, clever bundles—matters only if those first minutes feel inevitable. Android — where the market lives Android is the main stage. Across 21 bank apps here, the simple average sits around 4.29★; when weighted by how many reviews each app has, it softens to about 4.21★. That tells you big audiences are a tougher crowd. At the top of the pyramid, CBE dominates with 5M+ installs and a steady 4.2★. The second tier is split. BoA (Apollo) (4.2★; ~6,230 reviews) and Dashen (4.1★; ~2,020) are close on stars, but BoA’s larger review base makes its score harder to jolt. In the 100k+ band, Amhara and Oromia set the pace at 4.5★, while Nib, Hibret, and Bunna hold at 4.4★. Berhan trails at 3.7★, a reminder that small frictions—timeouts at login, retries on transfers—drain goodwill. What to watch: CBE is the outlier on scale. In the 500k+ duel, BoA (Apollo) vs Dashen, the stars are close but the confidence differs; more reviews make a steadier score. In the 100k+ “middle class”, the spread nears a star—from Amhara/Oromia (4.5★) to Berhan (3.7★)—evidence that steadiness, not novelty, separates winners. Ratings alone flatten nuance. The bubble chart below adds two checks: how many users (x-axis, install band) and how anchored the score is (bubble size = review count). The best place is high and right—many users, high satisfaction, and enough reviews to believe the number. The picture: CBE sits far right with a large bubble at 4.2★. Amhara and Oromia hover higher at 4.5★. Nib, Hibret, Bunna hold a respectable 4.4★. Berhan sits lower at 3.7★. Early bright spots—Tsehay (4.6★), Gadaa (4.8★)—are high but left; their challenge is growth without wobble. iPhone — fewer voices, higher bar On iPhone, the sample is smaller but the bar is higher, and many reviews come from the diaspora. Averages sit roughly a star lower than Android. CBE lands near 3.3★ (≈2,200 ratings), weighed down by strict SIM checks and patchy access on Wi-Fi. Zemen sits around 3.4★ (≈47), pulled by effortful logins. The exception is Abay: a rare parity at 4.5★ on both platforms—proof that a careful iOS build can hold its own. Diaspora — the hidden majority of complaints Look closely at the sharper iPhone critiques and a pattern repeats: Ethiopians abroad, on home Wi-Fi or roaming, blocked by SIM-in-device checks or vague “network errors.” This group is vocal and influential. A handful of small fixes change the mood fast: allow Wi-Fi logins bound to the device (not the SIM), keep Face/Touch ID as the default path, explain outages in plain speech (“busy—try again in 30 seconds” beats “error”), and expose a “diaspora support” route inside the app. The payoff shows up in the blue bars within a few releases. Branch activation — an old habit that costs new stars Nothing dates a digital app faster than a sign that reads “visit your branch.” CBE and Dashen have both been associated with in-person steps—activation codes, counter resets. In a city with traffic, and for a diaspora thousands of kilometres away, that rule is a tax on goodwill. The repair is simple but uncomfortable for old processes: remote onboarding with device binding, biometric login, and in-app recovery that still works after a phone change. Banks that make this shift gravitate to the 4.4–4.5★ band, because they remove the moments that cause public rants. Features vs reliability — sequence wins Most banks now tick the basics—inter-bank transfers, QR, airtime top-ups. The differences show up where the grid is patchy: self-registration and diaspora access. Amhara, Nib, Hibret, Bunna, and Abay (all “Yes” on self-registration) cluster at 4.3–4.5★. Where “No” appears, stars sink despite rich menus elsewhere. The order matters: make opening, logging in, and recovering dull—in the best sense—before reaching for school fees or ticketing. Users remember relief more than features. Bank-by-bank nudges. CBE: biggest win sits on iPhone—allow Wi-Fi logins with device binding, trim the journey from open to balance, and translate errors into plain speech. Awash: consolidate to a single flagship; you need a thicker body of ratings to steer by. BoA (Apollo): fix crashers and OTP entry and you’ll see a lift without adding anything new. Dashen: retire branch resets and aim for a 99.5% successful login rate; sentiment follows. Berhan: raise crash-free sessions and simplify the first tap to balance; reaching ~4.1★ is realistic. Zemen: keep your security, remove the acrobatics—lean on the device and server, not more codes. Abay: keep parity; don’t bloat the iOS surface area. Tsehay and Gadaa: protect the cold start as you scale. Wallets & rails — how habit forms Wallets set the daily rhythm of payments; rails decide whether they’re “on the way home.” The charts below show why some brands feel everywhere even when bank apps rate well. Telebirr dominates pavements and screens: 5M+ installs, 4.4★, ~63.5k reviews. M-Pesa runs leaner—1M+—but similarly polished at 4.4★ (~27k reviews). Ebirr is practical at 4.2★ with 1M+. Kacha is admired early—4.6★ with 50k+ installs. M-Pesa leads on iPhone—around 4.6★ (≈386 ratings). Telebirr is lower at roughly 3.6★ (≈1.2k), largely due to login rules and “little hassles.” For the diaspora, a smooth iPhone day is the difference between praise and churn. Telebirr fields a vast footprint—about 320,000 agents and 310,000 merchants. M-Pesa is smaller but expanding; Ebirr leans on bank partners. Software delights; rails convert. Ubiquity forgives many small sins.

Eyob Tekalign Appointed Governor of the National Bank of Ethiopia

Eyob Tekalign Appointed Governor of the National Bank of Ethiopia Prime Minister Abiy Ahmed (PhD) has appointed Dr. Eyob Tekalign Tolina as Governor of the National Bank of Ethiopia (NBE). The appointment follows the resignation of Mamo Mihretu, who stepped down earlier this month after serving as governor since January 2023 Dr. Eyob Tekalign Tolina is a prominent Ethiopian economist and public servant who, until his appointment, served as State Minister of Finance and Planning. In that role he worked at the center of Ethiopia’s macro-economic reform agenda, helping to shape fiscal and development policy and to coordinate national planning priorities. His career spans high-level positions in both national and international institutions. Before joining the Ministry of Finance and Planning, Dr. Eyob was Minister in charge of Ethiopia’s National Planning Commission, where he oversaw key elements of the country’s Homegrown Economic Reform Agenda. His expertise has also been sought by international financial institutions: he has served as an advisor to Ethiopia’s governors at the World Bank and the International Monetary Fund. Earlier in his career, Dr. Eyob worked as a Minister Counselor at the Ethiopian Embassy in Washington, D.C., and as a private-sector consultant, giving him a broad perspective on the interaction between public policy and market dynamics. He is recognised for his work in public finance management, private-sector development, and international economic cooperation. Academically, Dr. Eyob holds a doctoral degree in Political Economy from the University of Maryland, a master’s degree in International Development from a U.S. university, and a bachelor’s degree in Economics from Addis Ababa University. This combination of academic training and practical experience has made him a respected voice on economic matters in Ethiopia and internationally. Central Bank’s Role and Current Context The National Bank of Ethiopia is the country’s monetary authority, responsible for setting and implementing monetary policy, managing foreign-exchange reserves, regulating and supervising commercial banks, and overseeing payment systems. Dr. Eyob takes office at a time when the Bank faces persistent inflationary pressures, ongoing foreign-exchange shortages, and the need to deepen reforms aimed at modernising the financial sector. Transition After Mamo Mihretu’s Tenure Mamo Mihretu’s term included efforts to stabilise the foreign-exchange market, initiate financial-sector reforms, and strengthen the central bank’s capacity for price stability. His resignation, announced in early September, created the opening for new leadership to carry forward these initiatives. The Prime Minister’s Office has not yet released details of the new governor’s policy roadmap. Observers expect Dr. Eyob to outline his priorities in the coming weeks as he assumes leadership of Ethiopia’s central bank and guides the next phase of monetary and financial-sector reforms.

Ethiopian In-Flight Catering Unveils 2026 Menu at Skylight Hotel Showcase

Ethiopian In-Flight Catering Unveils 2026 Menu at Skylight Hotel Showcase Addis Ababa — September 2025 — Ethiopian Airlines Group’s catering arm has unveiled its upcoming 2026 economy and business class menu at a high-profile showcase held at the Ethiopian Skylight Hotel. The exclusive event, designed to introduce the new culinary offerings and gather real-time feedback, brought together passengers, frequent flyers, and key aviation stakeholders for a first taste of the airline’s next chapter in onboard dining. A Preview of 2026 Onboard Dining Beginning January 2026, passengers flying Ethiopian will be treated to an expanded menu reflecting the country’s celebrated culinary diversity alongside international favorites. The preview featured a curated selection of Ethiopian classics and global cuisines, underscoring the airline’s ambition to blend authentic local flavors with world-class hospitality. Guests sampled a range of dishes emblematic of Ethiopia’s vibrant food culture while also experiencing international options tailored to the tastes of a global clientele. Commitment to Quality and Food Safety Ethiopian In-Flight Catering operates as a fully certified unit within the Ethiopian Airlines Group. It provides catering services and on-board duty-free items not only for Ethiopian’s scheduled and non-scheduled flights but also for customer airlines, VVIP, and charter operations. The unit has consistently upheld stringent international standards for food safety and quality, ensuring that every meal served in the air reflects both culinary excellence and strict hygiene protocols. Engaging Passengers and Stakeholders By hosting the menu presentation at the Skylight Hotel, the airline created a space for direct engagement with its most important critics—its passengers. Feedback collected from the event will help refine the menu before its official rollout in January. Stakeholders, including aviation partners and tourism representatives, also provided input, reinforcing Ethiopian’s strategy to align its inflight dining experience with global trends and evolving traveler expectations. Strengthening Ethiopian’s Global Brand This latest initiative underscores Ethiopian Airlines’ broader effort to strengthen its global brand through service innovation. In-flight catering is a key pillar of the passenger experience, and the 2026 menu aims to position the airline as both a flag bearer of Ethiopian culinary heritage and a competitive international carrier known for premium onboard offerings. As the airline looks ahead to 2026, its commitment to combining Ethiopian hospitality with modern aviation standards remains central to its growth strategy—offering passengers a taste of Ethiopia that begins long before their journey ends.

IMF Says Ethiopia’s Debt Is Unsustainable: What Happens Next

IMF Says Ethiopia’s Debt Is Unsustainable: What Happens Next Ethiopia’s debt sustainability assessment (DSA) is blunt: the country is in debt distress, with debt assessed as unsustainable after repeated breaches of export-linked thresholds and a missed Eurobond coupon in December 2023. Recovery hinges on timely reforms and relief from external creditors to bring the risk of debt distress back to “moderate” by the end of the IMF-supported program. A pathway is emerging. An Official Creditor Committee (OCC) under the G20 Common Framework first granted a standstill on 2023–24 official debt service in November 2023 (retroactive to January 1, 2023). On March 21, 2025, the authorities and the OCC reached an agreement in principle (AIP) on key terms; a memorandum of understanding is expected next. Staff’s illustrative treatment, combined with the authorities’ proposal to other commercial creditors, is designed to close the external financing gap and restore a moderate risk of external debt distress by FY2027/28—the end of the IMF program. Where the Debt Stands—and Why It Fell (on Paper) Despite distress, the public and publicly guaranteed (PPG) debt ratio has fallen markedly, helped by low external disbursements and rapid nominal GDP growth. PPG debt declined to 34.8% of GDP at end-June 2024, from 40.2% a year earlier and 48.9% at end-FY2021/22. External PPG debt, 44.5% of the total, stood at 15.0% of GDP (down from 18.1% a year earlier). The federal government and central bank account for 78% and 6% of total PPG debt respectively, with the rest owed by SOEs. Disbursement halts by several official bilateral and market creditors during the Common Framework process also compressed the external stock. Domestic debt is sizable but being re-profiled. The domestic debt-to-GDP ratio fell to 19.3% by end-June 2024, reflecting transfers of SOE liabilities to the federal government (via LAMC) and the conversion of legacy central bank advances into a long-dated bond. Treasury-bill auctions (relaunched in late 2019) have deepened price discovery: the weighted average T-bill yield rose to 16.4% in February 2025 (from 9–11% in 2023/24 and 1–2% on past non-market instruments). The authorities also signaled the phasing-out of financial repression—mandated bond purchases by banks—during the IMF program. Notably, staff confirm no collateralized debt and highlight continued debt-data transparency efforts. The 2024–2028 Financing Math: Mind the Gap Even with consolidation, the program period still features a US$10.8 billion residual external financing gap. The plan: about US$3.4 billion from the IMF; US$3.8 billion in World Bank budget support (US$1.5 billion disbursed in August 2024 and US$1.0 billion expected between July 2025–June 2026, split US$650 million grants and US$350 million loans); and US$3.6 billion of debt relief from bilateral and private creditors (with private creditors proxied by an NPV-neutral bond). Reserve adequacy would rise to 3.5 months of imports by program end. Restructuring: The Official and Market Tracks On the official side, the November 2023 standstill cleaned up arrears and created space for reform; the January 2025 OCC meeting maintained financing assurances, culminating in the March 2025 AIP. On the market side, Ethiopia defaulted on its Eurobond, missing three coupons and the principal due on December 11, 2024—US$1.099 billion in total—while continuing talks with bondholders. Macro Turning Points: Growth, Prices, FX, and Reserves Growth has cooled from the go-go 2010s but remains robust. Average growth in 2019/20–2023/24 was 6.8%, with 8.1% recorded in 2023/24. For 2024/25, staff project 7.2% growth; trend growth rises to 7.5–8% in the medium term on the back of FX reforms, more market-based finance, and productivity gains. Inflation is easing faster than expected. Headline inflation fell to 13.6% in March 2025, with the year-end (June 2025) projection revised down to 16% on tighter policies and softer food prices; single-digit inflation is targeted for 2028. FX market reform is the program’s hinge. After early gains, spreads widened again: following a sub-5% parallel premium in September 2024, the gap hovered around 15% since March 2025. The central bank (NBE) has moved to publish bank FX fees, lift caps on advance payments to US$50,000, and tighten prudential NOP limits (with CBE brought into compliance by end-2025 and an NOP directive by end-September 2025). These measures aim to deepen the interbank market, curb rent-seeking, and normalize pricing. The external accounts show a mixed but improving picture. Staff now see the current-account deficit narrowing to –3.2% of GDP in FY2024/25 as exports of goods and services reach ~12% of GDP, buoyed by coffee and a one-off surge in gold shipments. By end-April 2025, gross international reserves hit US$4 billion, above prior projections. That gold surge—US$2.4 billion expected in FY2024/25—is partly inventory-driven and unlikely to be sustained without new investment; a pullback is assumed in 2025/26. Meanwhile, NGO private transfers are US$1 billion lower per year than previously assumed from 2025/26 onward, reflecting shifts in donor priorities. Domestic Financing Is Getting More Market-Based The authorities are trying to anchor inflation expectations and end monetary financing. From FY2024/25, direct advances from the central bank are eliminated; July 2024 operations converted ETB 242 billion of advances into a 25-year bond at 3%, and 899 billion birr of 13-year securities were issued to clean up CBE’s exposures to SOEs and LAMC and recapitalize the bank. Mandated below-market bond purchases (DBE and 5-year government bonds) are slated for phase-out by mid-2025. Going forward, T-bills at market rates will cover government needs, while SOEs issue medium/long-term bonds—a step toward a functioning domestic yield curve. What Could Still Go Wrong? Execution risk on FX market deepening. Re-emergence of parallel-market premia signals lingering rationing and fee-based distortions; reforms (fee transparency, higher advance-payment caps, tighter NOP limits) must translate into higher interbank volumes and narrower spreads. Aid shortfalls and shifts in donor priorities. Staff cut NGO private transfer assumptions by ~US$1 billion per year from 2025/26; essential imports (food, medicines) rely heavily on development assistance (≈70%), with about US$400 million expected from the private sector to fill near-term gaps. Commodity and inventory risks. The gold export spike looks transitory; sustaining higher export receipts requires investment, not just inventory drawdown and price cycles. Coffee shows similar inventory effects. Domestic financial conditions. T-bill yields at ~16% reflect tighter local liquidity and higher risk premia; if persistent, they raise interest costs and crowd out credit unless growth and inflation keep normalizing. Market creditor negotiations. With US$1.099 billion in defaulted Eurobond obligations, the speed and modality of a market-friendly resolution (the DSA uses an NPV-neutral bond as a proxy) will shape investor sentiment and re-entry costs. The Base Case—and What “Success” Looks Like By FY2027/28, staff envisage all debt indicators back below DSA thresholds, contingent on: (i) Common Framework implementation per the March 21, 2025 AIP; (ii) steady FX market deepening and prudential reforms (NOP limits, transparency on fees, more interbank trades); (iii) continued fiscal discipline without central-bank financing; and (iv) concessional and program financing arriving broadly as programmed. If this holds, Ethiopia exits the program with moderate debt distress risk, reserves at ~3.5 months of imports, trend growth 7.5–8%, and inflation gliding toward single digits. Five Markers to Watch (Next 6–12 Months) OCC MoU and comparable treatment progress with private creditors; FX market metrics—interbank turnover, bid-ask spreads, and the parallel-market premium; T-bill curve—yields and tenor extension as repression unwinds; Exports beyond the gold/cycle bump—coffee, horticulture, manufacturing volumes; Budget support timing and NGO transfer flows relative to revised assumptions. Bottom line The DSA’s message is clear but conditional: distress today, a plausible path to moderation tomorrow. Ethiopia’s chances rest on executing FX and domestic-debt market reforms, locking in the Common Framework deal, and securing programmed concessional flows—while managing near-term shocks to exports and aid. If the authorities deliver, the macro narrative could turn from arrears and standstills to re-entry and resilience by 2028.

Siinqee Bank Partners with MasterCard to Broaden Financial Inclusion

Siinqee Bank Partners with MasterCard to Broaden Financial Inclusion Addis Ababa, Ethiopia — Siinqee Bank has officially launched a new MasterCard service, marking a significant step in its strategy to expand financial inclusion and enhance international payment options for its customers. The launch follows the signing of a five-year strategic partnership with MasterCard, a deal that allows Sinqee Bank to issue MasterCard prepaid cards to its clients. This makes Sinqee Bank the first non-member financial institution outside the Payment Switch System (PSS) main network to introduce the globally recognized service. According to the PSS, Sinqee Bank’s achievement illustrates how Ethiopia’s financial sector is diversifying beyond traditional member banks, demonstrating the growing role of private institutions in shaping the country’s digital finance ecosystem. A Secure, Global Payment SolutionThe new prepaid MasterCard will provide Sinqee Bank’s customers with a secure and universally accepted payment method—an especially valuable option for Ethiopians traveling abroad or making international transactions. The card is expected to simplify cross-border payments and help bridge a key gap in Ethiopia’s banking services, where reliable global payment options remain limited. High-Level EndorsementThe signing ceremony brought together senior executives from both organizations, including Siinqee Bank President Ato Nway Megersa, alongside MasterCard’s regional leadership team. Their presence underscored the strategic importance of the partnership and its potential to drive innovation in Ethiopia’s rapidly evolving financial landscape. Positioning for the FutureBy stepping outside the PSS main network to deliver this service, Sinqee Bank positions itself as a pioneer among Ethiopia’s mid-tier banks, signaling a broader shift toward competitive, technology-driven banking solutions. The agreement is not just a product launch but also a commitment to deepening financial inclusion, giving more Ethiopians access to modern payment systems and setting a precedent for similar collaborations in the sector.

How Ethiopians Can Join the OKX Africa Trading Sprint – 35,000 USDT in Prizes

How Ethiopians Can Join the OKX Africa Trading Sprint – 35,000 USDT in Prizes OKX has launched the Africa Trading Sprint, a high-stakes competition running from September 15 to October 20, 2025, with a 35,000 USDT prize pool. Ethiopian traders have a clear path to participate and win. Important: You must tap “Join now” in the Campaign Center before depositing or trading, otherwise your activity won’t count toward the competition or rewards. Step-by-Step: Joining from Ethiopia 1) Create or log in to your OKX account Already have an account? Log in and open the Campaign Center in the OKX app or on the website. New user? Register here, complete quick KYC (identity verification), then log in and head to the Campaign Center. 2) Fund your account Deposit 50+ USDT using any available funding method. Hold the deposit for three days to earn an instant 5 USDT reward. 3) Start trading Make your first trade of at least 50 USDT to receive another 5 USDT instant reward. Keep trading—the more volume you generate, the higher you climb on the live leaderboard (updated every 10 minutes). Rewards for Ethiopian Participants Instant bonuses for first-time deposits and trades Leaderboard prizes from the 35,000 USDT pool Exclusive VIP perks for traders who reach $100,000+ in total volume Tips for Ethiopian Traders This is more than a promotion—it’s a test of strategy and consistency. Whether you trade spot, futures, or other markets, there are multiple ways to win.Pro Tip: In the OKX app, go to Menu → Campaign Center → “Join now” before you start trading; otherwise, your trades won’t count toward the competition. Key Details Campaign dates: September 15 – October 20, 2025 (UTC) Access: OKX app or the website Campaign Center Join the Sprint: https://www.okx.com/campaigns/trading-sprint?channelId=70404981 Ready to showcase Ethiopia’s trading talent? Follow these steps and compete for your share of the 35,000 USDT prize pool.

Ethiopia Bets on a Mega Airport to Cement Its Role as Africa’s Aviation Hub

Ethiopia Bets on a Mega Airport to Cement Its Role as Africa’s Aviation Hub By Addis Ababa, September 6, 2018 Ethiopia is doubling down on its ambition to dominate Africa’s skies with a multibillion-dollar airport project that Finance Minister Ahmed Shide says will “accelerate economic growth and transform regional connectivity.” The new hub—planned in Bishoftu, about 40 kilometers southeast of Addis Ababa—marks the latest in a string of high-stakes infrastructure moves by one of the continent’s fastest-growing economies. Ethiopian Airlines, already Africa’s most profitable carrier, is betting that the facility will vault it into the ranks of global aviation leaders while feeding the country’s broader economic reforms. Building a Continental Gateway Ethiopian Airlines has outgrown Addis Ababa’s Bole International Airport, whose passenger traffic has expanded by double digits annually for much of the past decade. The new complex is designed to handle tens of millions of passengers a year, rivaling major Middle Eastern hubs such as Dubai and Doha. Ahmed Shide told investors and diplomats at the launch that the project “goes beyond the construction of a transportation hub. It is about ensuring our national carrier remains globally competitive and about positioning Ethiopia as a key gateway linking Africa to the Middle East, Asia and Europe.” Economic Reform Meets Aviation Ambition The airport plan dovetails with Ethiopia’s sweeping economic reforms—privatizing state assets, liberalizing key sectors and courting foreign direct investment. Aviation is already one of Ethiopia’s top sources of hard currency. A new mega-hub would expand cargo and transit revenues, create thousands of jobs and reinforce Addis Ababa’s status as an East African financial and diplomatic center. The project also aligns with International Civil Aviation Organization guidelines for sustainable growth. Officials say the master plan includes low-carbon design features, measures to reduce greenhouse-gas emissions and a framework for environmental and social safeguards—critical as the government seeks to brand Ethiopia’s infrastructure boom as green and inclusive. Proof of Capacity: GERD as Precedent Citing the recent full commissioning of the Grand Ethiopian Renaissance Dam, Ahmed argued Ethiopia has shown it can deliver on mega-projects despite political and financial headwinds. “Our success with the GERD confirms our readiness to complete this ambitious airport,” he said. “The political commitment of the government is unwavering.” Regional Ripple Effects Analysts say a fully operational Bishoftu hub could redraw African aviation routes, pulling traffic from established centers such as Nairobi and Johannesburg and giving Gulf carriers new competition. For Ethiopia, it would be both an economic engine and a diplomatic calling card—a visible sign that the Horn of Africa’s most populous nation intends to set the pace in continental integration. “The success of this airport will not only be Ethiopia’s primary goal but also a success for Africa,” Ahmed said, framing the project as a continental win.