Transport in Ethiopia is overseen by the Ministry of Transport and Communications. Over the last years, the Ethiopian federal authorities have significantly increased funding for rail and road construction to build an infrastructure, that allows better economic development.
Italian East Africa was an Italian colony in the Horn of Africa. It was formed in 1936 after the Second Italo-Ethiopian War through the merger of Italian Somaliland, Italian Eritrea, and the newly occupied Ethiopian Empire.
The Intergovernmental Authority on Development (IGAD) is an eight-country trade bloc in Africa. It includes governments from the Horn of Africa, Nile Valley and the African Great Lakes. It is headquartered in Djibouti.
The National Bank of Ethiopia is the central bank of Ethiopia. Its headquarters are in the capital city of Addis Ababa. Mamo Mihretu is the current governor of the bank.
Rail transport in Ethiopia is done within the National Railway Network of Ethiopia, which currently consists of three electrified standard gauge railway lines: the Addis Ababa–Djibouti Railway, the Awash–Weldiya Railway and the Weldiya–Mekelle Railway. Other lines are still in the planning phase. There is also an urban light rail system in the country's capital, the Addis Ababa Light Rail.
Modern banking in Eritrea started with the arrival of the Italian colonizers. However, from 1974 on, the banking sector became a government monopoly. This situation continued after Eritrea achieved its independence. The Bank of Eritrea is the central bank of Eritrea.
The Anglo-Ethiopian Agreement was a joint effort between Ethiopia and the United Kingdom at reestablishing Ethiopian independent statehood following the ousting of Italian troops by combined British and Ethiopian forces in 1941 during the Second World War.
National Bank of Egypt is a bank founded in Egypt in June 1898, and is the country's largest bank (2013) in terms of assets, deposits, loans, bank-capital, number of total branches, and employees.
Articles related to Ethiopia include:
The Central Bank of Sudan was the central bank of Sudan. The bank was formed in 1960, four years after Sudan's independence. It was located in the capital Khartoum. In April 2023, the Central Bank of Sudan was hit, and destroyed.
Oromia Bank (OB) is a private bank based in Addis Ababa, Ethiopia. It was established on 18 September 2008.
Ethiopia is a landlocked sovereign country located in the Horn of Africa. Ethiopia is bordered by Eritrea to the north, Sudan to the west, South Sudan to the south-west, Kenya to the south, Somalia to the east and Djibouti to the north-east. Ethiopia is one of the oldest countries in the world and Africa's second-most populous nation. Ethiopia has yielded some of humanity's oldest traces, making the area important in the history of human evolution. Recent studies claim that the vicinity of present-day Addis Ababa was the point from which human beings migrated around the world. Ethiopian dynastic history traditionally began with the reign of Emperor Menelik I in 1000 BC. The roots of the Ethiopian state are similarly deep, dating with unbroken continuity to at least the Aksumite Empire and its predecessor state, D`mt. After a period of decentralized power in the 18th and early 19th centuries known as the Zemene Mesafint, the country was reunited in 1855 by Kassa Hailu, who became Emperor Tewodros II, beginning Ethiopia's modern history. Ethiopia's borders underwent significant territorial expansion to its modern borders for the rest of the century, especially by Emperor Menelik II and Ras Gobena, culminating in its victory over the Italians at the Battle of Adwa in 1896 with the military leadership of Ras Makonnen, and ensuring its sovereignty and freedom from colonization. It was occupied by Benito Mussolini's Fascist Italy from 1936 to 1941, ending with its liberation by British Empire and Ethiopian Patriot forces. Its eastern border also changed in 1950 from the former 1908 Convention Line to the subsequent provisional administrative line.
Railway stations in Sudan include:
Ethiopia–Sudan relations date back to antiquity. One of Ethiopia's principal trade routes ran west to Sudan and then to Egypt and the Mediterranean. Muslim merchants from Sudan have been an important part of Ethiopia's trade for many centuries.
Wegagen Bank SC is an Ethiopia bank that was incorporated in 1997. The bank provides retail banking services to individuals and businesses in Ethiopia.
The Commercial Bank of Ethiopia Headquarters is a skyscraper in Addis Ababa, Ethiopia that was completed on 13 February 2022 and became the tallest building in Ethiopia. It serves as the headquarters of the state-owned Commercial Bank of Ethiopia, the country's largest bank. It also is the tallest building in all of East Africa.
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 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.
The Bank of Abyssinia is a private bank and the oldest bank in Ethiopia. It was established in 1905 and inaugurated by Emperor Menelik II on 16 February 1906, becoming the modern bank of Ethiopia.
On 15 March 2024, the Commercial Bank of Ethiopia (CBE) reported having glitching issues between 12 a.m. and 3 a.m. Customers were able to withdraw large amounts of cash not deposited in their accounts, and were able to make unlimited ATM withdrawals. After circulated in social media, CBE released five notes within less than 24 hours, explaining the systematic failure in its branch services.
