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Banking In Ethiopia
The banking sector of Ethiopia composed of the central bank, the National Bank of Ethiopia (NBE), which is state owned and sixteen private banks. By 2020, the NBE planned to increase the minimum capital for banks to operate to 2 billion birr ($90 million) and instructed all commercial banks to increase their capital. Foreign banks did not allow to provide service in Ethiopia, instead use medium term as the government of Prime Minister Abiy Ahmed pursues wide economic reforms. Currently, Ethiopia has allowed foreign banks to provide liaison service for their country of origins; Chinese, German, Kenyan, Turkish and South African banks opened their respective liaison banks in Addis Ababa. History Ethiopian Empire Modern banking institution in Ethiopia was first introduced by the reign of Emperor Menelik II in 1905, where the Bank of Abyssinia was formed by concession between British representative of the National Bank of Egypt. Since its formal establishment on 16 February 1906, it w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethiopia
Ethiopia, , om, Itiyoophiyaa, so, Itoobiya, ti, ኢትዮጵያ, Ítiyop'iya, aa, Itiyoppiya officially the Federal Democratic Republic of Ethiopia, is a landlocked country in the Horn of Africa. It shares borders with Eritrea to the north, Djibouti to the northeast, Somalia to the east and northeast, Kenya to the south, South Sudan to the west, and Sudan to the northwest. Ethiopia has a total area of . As of 2022, it is home to around 113.5 million inhabitants, making it the 13th-most populous country in the world and the 2nd-most populous in Africa after Nigeria. The national capital and largest city, Addis Ababa, lies several kilometres west of the East African Rift that splits the country into the African and Somali tectonic plates. Anatomically modern humans emerged from modern-day Ethiopia and set out to the Near East and elsewhere in the Middle Paleolithic period. Southwestern Ethiopia has been proposed as a possible homeland of the Afroasiatic langua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Development Bank Of Ethiopia
The Development Bank of Ethiopia (DBE) is a specialized state-owned development financial institution, which is supervised by the Public Financial Enterprises Agency in Ethiopia. The Development Bank of Ethiopia was the first development finance institution in Ethiopia and as such it was designed to: "(a) assist in the development of industrial and agricultural production... (and) (b) foster the investment of private capital for productive purposes..." History The goal of this bank is to promote economic development via financing commerce, industry, agriculture, and manufacturing. Each period of Ethiopian political history has used the bank for different purposes. Thus, the bank has changed its name several times: Imperial government (−1974) The bank was established in 1909 as the Societe Nationale d'Ethiopie Pour le Development de l'agriculture et de Commerce. In 1945, the Agricultural Bank was established but was replaced by the Development Bank in 1951. In 1970, the b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wegagen Bank
Wegagen Bank SC ( am, ወጋገን ባንክ) is a bank in Ethiopia incorporated on 11 June 1997. It was established as a result of the entrepreneurial wit of sixteen 16 founding members who recognized the critical role that financial institutions would play towards creating a sustained economic development and were able to put in an initial paid-in capital of Birr thirty million (Birr 30 million). Overview Established under the banking proclamation of Licensing and Supervision, Proclamation No. 84/1994, the bank was registered with the National Bank of Ethiopia on 30 April 1997. The Memorandum and Articles of Association of the bank were signed on 15 April 1997 and registered with the Addis Ababa Bureau of Trade, Industry and Tourism on 15 April 1997, Registration Number 1/34/4/89. The bank, as it started back then, operated through its head office located in Gofa Sefer, Addis Ababa. In October 2017, Wegagen moved to its 23 Storey Headquarters Building in front of Addis Ababa S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethiopian Birr
The birr ( am, ብር) is the unit of currency in Ethiopia. It is subdivided into 100 ''santim''. In 1931, Emperor Haile Selassie I formally requested that the international community use the name ''Ethiopia'' (as it had already been known internally for at least 1,600 years) instead of the exonym ''Abyssinia'', and the issuing ''Bank of Abyssinia'' also became the ''Bank of Ethiopia''. Thus, the pre-1931 currency could be considered the ''Abyssinian birr'' and the post-1931 currency the ''Ethiopian birr'', although it was the same country and the same currency before and after. 186 billion birr were in circulation in 2008 ($14.7 billion or €9.97 billion). History First birr, 1800–1936 In the 18th and 19th centuries, Maria Theresa thalers and blocks of salt called "amole tchew" (አሞሌ) served as currency in Ethiopia. The ''thaler'' was known locally as the ''Birr'' (literally meaning "silver" in Ge'ez and Amharic) or ''talari'' (ታላሪ). The Maria Theresa ''thal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Awash International Bank
Awash International Bank (Amharic: አዋሽ ኢተርናሽናል ባንክ) is a commercial bank in Ethiopia that was established in 1994 by 486 founding shareholders with a paid-up capital of birr 24.2 million and started banking operations on 13 February 1995. As of end of June 2020 the number of shareholders and its paid-up capital increased to over 4369 and Birr 5.87 billion, respectively. Likewise, as of end June 2020, bank's total assets reached Birr 95.6 billion with over 700 branches found across the country, Awash Bank continues to be leading private commercial Bank in Ethiopia. History Awash International Bank was founded on 10 November 1994 and started operation on 13 February 1995 with 486 shareholders and paid-up capital of 24.2 million birr. It is named after Awash River The Awash (sometimes spelled Awaash; Oromo: ''Awaash'', Amharic: አዋሽ, Afar: ''We'ayot'', Somali: ''Webiga Dir'') is a major river of Ethiopia. Its course is entirely contained within the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liberalism
Liberalism is a political and moral philosophy based on the rights of the individual, liberty, consent of the governed, political equality and equality before the law."political rationalism, hostility to autocracy, cultural distaste for conservatism and for tradition in general, tolerance, and ... individualism". John Dunn. ''Western Political Theory in the Face of the Future'' (1993). Cambridge University Press. . Liberals espouse various views depending on their understanding of these principles. However, they generally support private property, market economies, individual rights (including civil rights and human rights), liberal democracy, secularism, rule of law, economic and political freedom, freedom of speech, freedom of the press, freedom of assembly, and freedom of religion. Liberalism is frequently cited as the dominant ideology of modern times.Wolfe, p. 23.Adams, p. 11. Liberalism became a distinct movement in the Age of Enlightenment, gaining popularity ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethiopian People's Revolutionary Democratic Front
The Ethiopian People's Revolutionary Democratic Front (EPRDF; am, የኢትዮጵያ ሕዝቦች አብዮታዊ ዲሞክራሲያዊ ግንባር, translit=Ye’Ītiyop’iya Ḥizibochi Ābiyotawī Dīmokirasīyawī Ginibari) was an ethnic federalist political coalition in Ethiopia that existed from 1988 to 2019. It consisted of four political parties, namely Tigray People's Liberation Front (TPLF), Amhara Democratic Party (ADP), Oromo Democratic Party (ODP) and Southern Ethiopian People's Democratic Movement (SEPDM). After leading the overthrow of the People's Democratic Republic of Ethiopia, it dominated Ethiopian politics from 1991 to 2019. In November 2019, the EPRDF was dissolved, and Prime Minister and EPDRF chairman Abiy Ahmed merged three of the constituent parties (not including the TPLF) into his new Prosperity Party, which was officially founded on 1 December 2019. History During the Ethiopian Civil War, the EPRDF was a rebel group battling the Derg, a mili ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fall Of The Derg
The fall of the Derg, also known as Downfall of the Derg, was a military campaign that resulted the defeat of the ruling military junta Derg by the rebel coalition Ethiopian People's Revolutionary Democratic Front (EPRDF) on 28 May 1991 in Addis Ababa, ending the Ethiopian Civil War. The Derg took power after deposing Emperor Haile Selassie and the Solomonic dynasty, an imperial dynasty of Ethiopia that began in 1270. The Derg suffered insurgency with different factions, and separatist rebels groups since early their rule, beginning with the Ethiopian Civil War. The 1983–1985 famine, the Red Terror, and resettlement and villagization infamed the Derg with majority of Ethiopians tended to support insurgent groups like the Tigray People's Liberation Front (TPLF) and Eritrean People's Liberation Front (EPLF). With the establishment of People's Democratic Republic of Ethiopia in 1987, the Derg government, led by Mengistu Haile Mariam, was subdued by rebel groups due to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Exchange Market
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market. The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: USD 1 is worth X CAD, or CHF, or JPY, etc. The foreign exchange market works thro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethiopian Civil War
The Ethiopian Civil War was a civil war in Ethiopia and present-day Eritrea, fought between the Ethiopian military junta known as the Derg and Ethiopian-Eritrean anti-government rebels from 12 September 1974 to 28 May 1991. The Derg overthrew the Ethiopian Empire and Emperor Haile Selassie in a coup d'état on 12 September 1974, establishing Ethiopia as a Marxist-Leninist state under a military junta and provisional government. Various opposition groups of ideological affiliations ranging from Communist to anti-Communist, often drawn from ethnic background, began armed resistance to the Soviet-backed Derg, in addition to the Eritrean separatists already fighting in the Eritrean War of Independence. The Derg used military campaigns and the Qey Shibir (Ethiopian Red Terror) to repress the rebels. By the mid-1980s, various issues such as the 1983–1985 famine, economic decline, and other after-effects of Derg policies ravaged Ethiopia, increasing popular support for the rebels ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprise
A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (economics), profit for the Government, government, control monopoly of the Private sector, private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of Profit (economics), financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
