Open source civic project

Stay ahead of Ethiopia's policy changes

Government directives and proclamations, summarized in plain language. Built for business owners, founders, and finance professionals.

Currently tracking:

National Bank of EthiopiaMinistry of JusticeMore soon
TaxAmendment

Amendment to the Directive to provide for Tax and Duty Exemption for Vehicles Rendering Taxi Transport Services Directive No. 898/2022

This document amends Directive No. 70/2021 concerning tax and duty exemptions for vehicles used in taxi transport services. It modifies the procedures for vehicle replacement and new vehicle acquisition by taxi owners and associations.

Who's affectedTaxi transport service providers and taxi owners' associations.
ActionTaxi owners and associations should consult the amended directive for updated documentation requirements when replacing vehicles or acquiring new ones.
Ministry of Finance · 898/2022View source
FintechAmendment

Bank Corporate Governance Directive No. 1014/2024

This directive establishes comprehensive corporate governance standards for banks in Ethiopia, aiming to ensure prudent management, safeguard financial system stability, and protect stakeholder interests. It details the roles and responsibilities of the board of directors, senior management, and various committees, and outlines requirements for their appointment, conduct, and oversight.

Who's affectedBanks operating in Ethiopia, including their boards of directors, senior management, employees, shareholders, and depositors.
ActionBanks must review and ensure compliance with the corporate governance requirements outlined in this directive, including updating policies and procedures, and adhering to new appointment and conduct standards for directors and management.
National Bank Of Ethiopia · 1014/2024View source
FintechNew

Opening, Relocation and Closure of Branch Offices of Capital Goods Finance Companies (Directive No. 953/2022)

This directive outlines the procedures and requirements for opening, relocating, and closing branch offices of Capital Goods Finance Companies, ensuring sound practices and the protection of customer interests.

Who's affectedCapital goods finance companies operating in Ethiopia.
ActionCapital goods finance companies must submit an application to the National Bank of Ethiopia within six months from the effective date to license all existing branches.
National Bank Of Ethiopia · 953/2022View source
FintechAmendment

Interbank Money Market Directive (Amended) (Directive No. 1012/2024)

This directive amends the Interbank Money Market Directive (No. 1012/2024) to regulate and modernize the operations of the interbank money market in Ethiopia. It aims to enhance the efficiency of the banking system by facilitating borrowing and lending between commercial banks, improving monetary policy implementation, and ensuring effective liquidity management.

Who's affectedCommercial banks licensed by the National Bank of Ethiopia, including government-owned commercial banks.
ActionCommercial banks must ensure their trading platforms are approved by the National Bank, adhere to specified trading hours, report transactions as required, and comply with collateral and risk management requirements.
National Bank Of Ethiopia · 1012/2024View source
FintechNew

Requirements for Information Technology (IT) Management of Banks Directive No. 889/2022

This directive establishes requirements for Information Technology (IT) management for banks operating in Ethiopia. It mandates the automation of core business processes, the implementation of robust IT strategies, risk management programs, and IT audit functions. The objective is to enhance efficiency, security, and soundness of individual banks and the banking sector as a whole.

Who's affectedAll banks operating in Ethiopia, including their boards, senior management, IT departments, risk management, and internal audit functions.
ActionBanks must develop and implement IT strategies, automate core business processes, establish IT risk management programs, and conduct regular IT audits in accordance with the directive's provisions.
National Bank Of Ethiopia · 889/2022View source
InvestmentNew

Limitations on Investment of Banks (Directive No. 1016/2024)

This directive establishes limitations on the investment and financing activities of banks operating in Ethiopia to ensure sound and prudent practices, manage risks, and encourage investment in capital market service providers while safeguarding the core banking business.

Who's affectedAll banks operating in Ethiopia, including private and state-owned entities licensed by the National Bank.
ActionBanks must review their investment policies to comply with the new limitations and ensure they have procedures in place for reporting equity investments to the National Bank.
National Bank Of Ethiopia · 1016/2024View source
FintechAmendment

Licensing and Authorization of Payment Instrument Issuer (Amendment) Directive No. 395/2022

This directive amends the Licensing and Authorization of Payment Instrument Issuer Directive No. 314/2020 by modifying account identification systems, establishing daily electronic account balance limits for Level 1 and Level 2 accounts, and specifying exceptions for certain services like inward remittances and salary payments. It also updates requirements for capturing user information for Level 2 accounts.

Who's affectedPayment instrument issuers and users of electronic accounts with payment instrument issuers.
ActionPayment instrument issuers must update their systems and procedures to comply with the new account balance limits and identification requirements by February 28, 2022.
National Bank Of Ethiopia · 395/2022View source
FintechNew

Manner of Equity Investment by Foreign Nationals of Ethiopian Origin and Organizations in Payment Instrument Issuance & Payment System Operator (Directive No. 860/2021)

This directive outlines the procedures and conditions for equity investment by Foreign Nationals of Ethiopian Origin and Organizations in Payment Instrument Issuance and Payment System Operator businesses in Ethiopia. It specifies rules for share subscription, payment methods, location of transactions, and reporting requirements.

Who's affectedForeign nationals of Ethiopian origin and organizations seeking to invest in Ethiopian payment instrument issuance and payment system operator businesses, as well as existing and prospective companies in these sectors.
ActionForeign nationals of Ethiopian origin or organizations intending to invest must ensure all share subscriptions and payments are made in acceptable foreign currency through the banking system within Ethiopia, adhering to the specific procedures outlined in the directive. Companies must develop and implement policies for handling such investments and submit required reports to the National Bank of Ethiopia.
National Bank Of Ethiopia · 860/2021View source
← PreviousPage 6 of 6Next →