AliExpress, part of the Alibaba Group, announced last week that it will start accepting Birr for transactions

- The service, set to begin on February 24, 2025, is also being rolled out in Morocco, Egypt, Tanzania, Algeria, and South Africa.

- The company was established in 2010 by Alibaba and expanded its business-to-consumer services to Ethiopia in August 2024. It sells over 200 million products on its platform worldwide.

- However, questions remain about the payment settlement mechanism, as regulators at the National Bank of Ethiopia (NBE) say key details are still in the air. While there has been talk of a currency swap agreement between Ethiopia and China, it has yet to be finalized.

• Officials want to see ESX host at least 90 initial public offerings (IPOs) in the coming years. 
• Shares, equity, and debt securities will be traded on the platform. Banks, state-owned enterprises (SOEs) and other eligible firms are eligible to list.
• Wegagen Bank has become among the first to offer equity on ESX
• Ethio telecom’s 10 percent stake offering is slated to go live on ESX, while at least four other SOEs under the Ethiopian Investment Holdings (EIH) are also expected to list.
• The banking industry is likely to be the first to brave the new market. An estimated 400,000 shareholders hold equity in the country’s commercial banks, and they will now be able to sell and buy shares on ESX at any time.
• Companies also will be able to issue debt securities, which so far have been limited to treasury bonds issued by the National Bank of Ethiopia (NBE).

• Earlier this year, the cap was increased 14% to 18% due to declining inflation, tight monetary conditions, and improved supply-side factors.
• Prior to the cap, annual credit growth in the banking sector averaged over 25%, with some major banks exceeding 30%.
• As part of the reforms, the government will introduce market-oriented Treasury bonds to replace the current system, which requires banks to purchase bonds at a fixed interest rate of 9%. This directive, implemented in November 2022 will be repealed by June 2025.

The Chinese car manufacturer BYD has officially entered the Ethiopian market with the introduction of five battery electric vehicle (BEV) models, including the compact hatchback Seagull and the Tang SUV, in collaboration with its Ethiopian distributor, MOENCO, one of the largest automotive distributors and retailers in the country, representing over 20 brands, including Toyota.