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AfDB Approves $40M Guarantee Facility to Boost Dashen Bank’s Trade Finance in Ethiopia
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AfDB Approves $40M Guarantee Facility to Boost Dashen Bank’s Trade Finance in Ethiopia
AfDB’s $40M facility supports Dashen Bank’s trade finance for SMEs, aiding Ethiopia’s economic growth.
The NBE approves investment licensing for commercial banks as the ESX launch approaches.
The National Bank of Ethiopia (NBE) has authorized commercial banks to fully invest in capital market service providers, except credit rating agencies, with a new directive allowing up to 100 percent equity ownership. However, banks are limited to holding 10 percent equity in non-banking businesses and 5 percent in insurance companies, with total investments in non-bank entities capped at 15 percent of their capital. This move coincides with the impending launch of the Ethiopian Securities Exchange (ESX), supported by a regulatory framework from the Ethiopian Capital Markets Authority (ECMA) aimed at consolidating securities trading in Ethiopia.
Massive Capital Injection for CBE Amid Exchange Rate Shocks
In response to the potential fallout from recent exchange rate reforms on the liabilities of the Commercial Bank of Ethiopia (CBE), the government has decided to inject nearly 900 billion birr into the state-owned bank.