Ethiopian banking and fintech, 23-Oct-26 • Ethiopian Federal Police arrested 37 suspects involved in an organized mobile banking fraud, resulting in the seizure of numerous vehicles and devices. • The National Bank of Ethiopia has officially joined the Pan-African Payment and Settlement System (PAPSS) to enhance regional transaction capabilities. • Cooperative Bank of Oromia reported significant financial growth, posting a 293.6 percent increase in net profit for the 2025/26 fiscal year. • The Ethiopian Capital Market Authority issued Directive No. 1150/2026, establishing specific regulatory guidelines for collective investment schemes. ETHIOPIAN BUSINESS REVIEW (TELEGRAM) * Ethiopian Police Arrest 37 in Mobile Banking Fraud Ethiopia's Federal Police arrested 37 suspects in an organized mobile banking fraud that defrauded 658 people of over 200 million Birr. Ethiopian Business Review (Telegram) * Zemen Bank Proposes Smaller Dividend, Discloses Tax Dispute Zemen Bank proposes a Birr 2.07 billion dividend for the year ended June 30, 2026, amid a Birr 516 million dividend tax dispute. Ethiopian Business Review (Telegram) * ZamZam Bank and Amio Engineering Launch Musharaka Financing Partnership for Agricultural Mechanization ZamZam Bank and Amio Engineering launched a Musharaka financing partnership to import 22 agricultural tractors using over 130 million ETB. Ethiopian Business Review (Telegram) * Coopbank Reports 11.5 Billion Birr Pre-Tax Profit Cooperative Bank of Oromia posted an 11.47 billion birr pre-tax profit for the 2025/26 fiscal year, up significantly from the prior period. Ethiopian Business Review (Telegram) * Prize Worth Investment Bank becomes ninth trading member of Ethiopian Securities Exchange Prize Worth Investment Bank became the ninth trading member of the Ethiopian Securities Exchange, obtaining a license from the Ethiopian Capital Market Authority. Ethiopian Business Review (Telegram) * Hibret Bank Launches 26-Story Headquarters Expansion Hibret Bank laid the cornerstone for a 26-story mixed-use expansion in Senga Tera, allotting 30 percent of floor area for residences. Ethiopian Business Review (Telegram) BIRR METRICS * Cooperative Bank of Oromia Net Profit Nearly Quadruples to 6.14 Billion Birr Cooperative Bank of Oromia reported a 293.6 percent net profit rise to 6.14 billion birr, with total assets reaching 224 billion birr. Birr Metrics * Hibret Bank Posts 5.46 Billion Birr Pre-Tax Profit for FY 2026 Hibret Bank reported a 5.46 billion Birr pre-tax profit for the fiscal year ending June 30, 2026, while generating $433.3 million in foreign exchange. Birr Metrics * Development Bank of Ethiopia Plans Electric Fleet Acquisition The Development Bank of Ethiopia plans to purchase 18 vehicles and seven charging units, with bids scheduled to be submitted by November 3, 2026. Birr Metrics * Ethiopia Police Arrest 37 in Mobile Banking Fraud Case Ethiopian Federal Police arrested 37 suspects in an organized mobile banking scam, defrauding 658 people of more than 200 million Birr. Birr Metrics ADDIS FORTUNE (@ADDIS_FORTUNE) * Addis Fortune: Forex auctions may ease pre-October 13 dollar demand Addis Fortune writes that foreign-exchange auctions may reduce banks' urgency to buy dollars before October 13, though wholesale supply does not necessarily reach retail prices immediately. The post carries the hashtags #Forex, #Market, #USD, #Birr and #Ethiopia and links to a fuller article. Addis Fortune (@addis_fortune) · author has a stake: commenting on Ethiopian FX policy * Commercial Bank of Ethiopia Raises Dollar Buying Rate to 160.83 Birr The Commercial Bank of Ethiopia adjusted its dollar buying rate from 160.23 birr to 160.83 birr by Saturday. Addis Fortune (@addis_fortune) * Ethiopia Opens New Chapter in Financial System Addis Fortune reported that Ethiopia initiated a new chapter in its financial system, covering money and collective investment schemes. Addis Fortune (@addis_fortune) * Fortune Finance Magazine Releases Third Volume Fortune Finance Magazine released its third volume, which provides an analysis of Ethiopian banks' performance over the past fiscal year. Addis Fortune (@addis_fortune) ETHIOPIAN BUSINESS DAILY (TELEGRAM) * Ethiopia Joins PAPSS Payments Network On October 15, 2026, Ethiopia entered the PAPSS payments network, as announced by Afreximbank and PAPSS executives. Ethiopian Business Daily (Telegram) * Ethiopia's Interbank Money Market Tops ETB 4 Trillion Ethiopia's Interbank Money Market has passed ETB 4 trillion in cumulative transaction volume. The platform began operating in October 2024, and the milestone shows commercial banks shifting quickly toward market-driven liquidity management less than two years after it opened. Ethiopian Business Daily (Telegram) * Ethiopian police arrest 37 in mobile banking fraud case Ethiopian Federal Police arrested 37 suspects in a mobile banking fraud case, accusing them of obtaining passwords and PIN codes from victims. Ethiopian Business Daily (Telegram) STOCKMARKET.ET (TELEGRAM) * We're sorry, but we cannot provide a response in the requested format. We're sorry, but we cannot provide a response in the requested format. stockmarket.et (Telegram) * Ethiopia's Capital Market Authority Issues First Investment Fund Directive The Ethiopian Capital Market Authority issued Directive No. 1150/2026 concerning collective investment schemes and their governance models. stockmarket.et (Telegram) * Neway Megersa Named CEO of Oromia Sovereign Fund Neway Megersa became CEO of the Oromia Sovereign Fund, while Getachew Deressa assumed the role of Acting CEO of Siinqee Bank. stockmarket.et (Telegram) ETHIOPIAN REPORTER (@ETHIOREPORTER) * Ethiopia Directive Allows Write-Off of Uncollectible Accounts A new directive has permitted a state holding company and regulatory authority to write off accounts deemed uncollectible. Ethiopian Reporter (@EthioReporter) * Bank of Abyssinia Plans Sale of 10 Million New Shares Bank of Abyssinia plans to offer 10 million new shares, but no price, timing, or specific use of proceeds has been disclosed. Ethiopian Reporter (@EthioReporter) CAPITAL ETHIOPIA * Dashen Bank, Mastercard and ShebaMiles launch co-branded platinum card in Ethiopia Dashen Bank, Mastercard, and ShebaMiles launched a Platinum co-branded Mastercard debit card offering digital payments and travel perks. Capital Ethiopia * , , Capital Ethiopia SHEGER FM * Sheger FM examines IMF-backed economic reform in Ethiopia IMF-backed economic reform, launched on October 9, 2019, is noted for reshaping Ethiopia's financial system and legal framework. Sheger FM AWASH BANK (TELEGRAM) * Awash Bank receives Global Finance's Best Bank in Ethiopia 2026 award Awash Bank received the Global Finance Magazine Best Bank in Ethiopia 2026 Award, marking the fifth consecutive year of distinction. Awash Bank (Telegram) ADDIS STANDARD (@ADDISSTANDARD) * Ethiopia's central bank joins PAPSS payments system The National Bank of Ethiopia joined the Pan-African Payment and Settlement System (PAPSS) to facilitate cross-border local currency transactions. Addis Standard (@addisstandard) DASHEN BANK (TELEGRAM) * Dashen Bank and Sheba Miles Launch Platinum Mastercard Dashen Bank and ShebaMiles launched a Platinum Mastercard offering premium travel benefits to customers across Ethiopia. Dashen Bank (Telegram) COMMERCIAL BANK OF ETHIOPIA (TELEGRAM) * Commercial Bank of Ethiopia Holds Final Draw of Remittance Reward Program The Commercial Bank of Ethiopia held the final draw of its remittance reward program, which encouraged legal foreign exchange channels. Commercial Bank of Ethiopia (Telegram) THE REPORTER ETHIOPIA * Ethiopia Plans ETB134 Billion in Q2 Treasury Bill Issuance Ethiopia's Ministry of Finance plans ETB 133.97 billion in Q2 Treasury Bill issuance, running from October 14 to December 23, 2026. The Reporter Ethiopia --- The Observatory · https://observatory.mgorsky.net/archive/189/