NBE Signs MoU with AFREXIMBANK

NBE Signs MoU with AFREXIMBANK

Addis Ababa. The National Bank of Ethiopia NBE) and African Export-Import Bank (Afreximbank) signed a Memorandum of Understanding (MoU) in a bid to support trade and investment activities in Ethiopia.

Dr. Yinager Dessie, Governor of National Bank of Ethiopia (NBE), and Professor Benedict Oramah, President and Chairman of Afreximbank, signed the MoU.

Upon the signing, held on February 8,2022, at Sheraton Addis, it was disclosed that the African Export-Import Bank (Afreximbank) will provide more than $1 billion loan to support the trade and investment of private and public sectors in the country in the form of line credits.

Governor of National Bank of Ethiopia (NBE) Dr. Yinager Dessie, on the occasion stated that upon implementation of the MoU signed, Afreximbank will provide the loan with the stated amount of USD to the public and private banks which in turn give credit both to the public and private sector.

“The loan agreement is important to solve the country’s foreign exchange shortage and stimulate the economy,” the Governor added. “particularly at a critical time like now when the COVID-19 pandemic has affected  the country’s socio-economic spectrums, which are critical elements for development, job creation and poverty reduction.”

“As a matter of fact” the Governor said, “the MoU aims at strengthening our bilateral cooperation, with in which creating a broad framework for collaboration in areas of common interest, particularly in the field of trade and investment.”  

President and Chairman of Afreximbank, Professor Benedict Oramah, on his part expressed his bank’s commitment to support Ethiopia’s development and growth. He also praised the reform in Ethiopia that proved resilient economy during the pandemic.

“Even when major developing economies witnessed growth contraction at the height of the pandemic, Ethiopia proved its resilience by maintaining a robust growth trajectory posting a commendable 6.1 percent growth rate in 2020,” the Professor said citing to World Bank data.

Afreximbank has identified the enthusiasm and opportunities of trade and investment in Ethiopia, and decided to work with the NBE and other designated local banks of the country.  

Professor Benedict Oramah underscored, “Through this MoU, we affirm our collective determination to accelerate the ongoing collaboration and to strengthen the financial and corporate sectors, which are engines of sustainable development in this country.”

Ethiopia is member to the African Export-Import Bank, but the collaboration needs to be boosted hereafter.  

Headquartered in Cairo, Egypt, African Export–Import Bank (Afreximbank) is a pan-African multilateral trade finance institution created in 1993 under the auspices of the African Development Bank (AfDB).

V/Governors and concerned directors of the National Bank of Ethiopia (NBE), and presidents of  of private banks were also present at the signing ceremony.

Public Notice

Public Notice

Pursuant to the power vested in it under Article 64 (2) of Proclamation No 746/2012 as amended under Proclamation No.1163/2019, the National Bank of Ethiopia is planning to issue a directive on “Risk Based Internal Audit”.

Accordingly, the National Bank of Ethiopia hereby invites any interested/concerned person to comment on the draft directive within one month commencing from the date on which this notice is posted on its website.

Drop your comments at belayt@nbe.gov.et , or send them via the Post Office to Insurance Supervision Directorate at the P.O.Box  No. 5550 latest by November 30,2021.

NBE Issues Additional Exemption on Loan Restriction on October 27-2021

NBE Issues Additional Exemption on Loan Restriction

October 27, 2021. National Bank of Ethiopia (NBE) announced today that it has issued additional exemption on loan restriction.
The exemption has been issued for Companies Supplying Petroleum Products in line with an agreement entered with Ethiopian Petroleum Supply Enterprise.
According to the notification dispatched to Bank CEOs, the exemption is effective as of today, October 27, 2021.
For the sake of clarity, NBE underlines that this exemption, for the time being, doesn’t include petroleum dealers.
It’s to be recalled that NBE did issue exemptions regarding loan disbursement on October 1, 2021, on five loan categories. 

NBE Issues Additional Exemptions for some loan categories on October 04-2021

                 

NBE Issues Additional Exemption on Loan Restriction

October 4, 2021:  National Bank of Ethiopia has issued additional exemptions regarding loan disbursement.  

In a circular addressed to all banks on Friday, October 1, 2021, NBE has issued further exemptions for the following five loan categories.  

1. loans to buyers of bank’s foreclosed properties availed for the purpose of ensuring loan recovery

2. inter-bank loan buyout transactions 

3. bank staff emergency loans

4. housing loans approved/committed to be provided for employees of companies for the purpose of buying or constructing residential houses (only for committed or approved requests); and 

5. loans approved for sesame producers found in Gondar area for the purpose of ensuring timely harvesting of same. 

The Governor Inaugurates NIB H.Q Building

NBE and Governor get Award
Addis Ababa;    Dr. Yinager Dessie, Governor of national bank of Ethiopia inaugurated Nib International Bank (NIB) building, Saturday September 4, 2021.
Up on the inauguration, Dr. Yinager said that the realization of this building manifests the growth of our banks and our economies.
“I’m very much delighted with such success, and assure you NBE will keep its support for the NIB”  Dr. Yinager added.
With 37 stories, built at Senga Tera, the new building consumed close to birr 2 billion, and took four years for completing the construction. The building gives marvelous architectural views for the district.
On the inaugural ceremony National Bank of Ethiopia (NBE) and the Governor, Dr. Yinager Dessie were honored with Crystal Award and certificate in recognition of the contribution they offered.   

SAFARICOM TELECOMMUNICATIONS ETHIOPIA PLC delegates

SAFARICOM TELECOMMUNICATIONS ETHIOPIA PLC delegates led by Mr. Peter Ndegwa, held courtesy meeting with Dr. Yinager Dessie, Governor of National Bank of Ethiopia (NBE) on Thursday, September 2, 2021.  
The delegates, during the meeting, requested the Governor to have support from NBE to enhance their endeavor, and the Governor confirmed that they will have full support from NBE.  He underlined the SAFARICOM to prepare itself to operate efficiently and in a competitive manner.    
Safaricom Telecommunications Ethiopia PLC is expected to start rolling out telephony services from 2022 and put a low Earth orbit satellite in place that will provide nationwide 4G coverage by 2023.

የኢትዮጵያ ብሔራዊ ባንክ ሠራተኞች ከ15 ሚሊዮን ብር በላይ ለገሱ

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የባንኩ ማኔጅመንት አባላትና መላ ሠራተኞች ዛሬ ባካሄዱት ስብሰባ ለጀግናው መከላከያ ሠራዊታችን የሚሆን ከደጀንነት እስከ ግንባር መሰለፍ የሚደርስ አስፈላጊውን ሁሉ ድጋፍ እንደሚያደርጉ አረጋግጠዋል።
ሠራተኞቹ የአንድ ወር ደመወዛቸውን ከ15 ሚሊዮን ብር በላይ ሠጥተዋል።
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ሠራተኞቹ ለሠራዊቱ በቀጥታ ከሚያደርጉት ድጋፍ ጎን ለጎን በተሠማሩበት የሙያ መስካቸው የበለጠ በመትጋት ኃላፊነታቸውን እንደሚወጡም አረጋግጠዋል።

The National Bank of Ethiopia was established in 1963 by proclamation 206 of 1963 and began operation in January 1964. Prior to this proclamation, the Bank used to carry out dual activities, i.e. commercial banking and central banking.

P.O.Box: 5550
Tel: +251 115 517 430
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