Author: Gureza

Ethiopia’s largest Commercial Bank loses millions as technical glitch allows excessive withdrawals  – Nairametrics 09:35 

  By  Michael Ndu-Okeke in Financial Services, Sectors The largest commercial bank in Ethiopia, Commercial Bank of Ethiopia (CBE) recently lost millions of dollars when a technical glitch in its system allowed customers to withdraw more money than they had in their accounts. According to the BBC, the commercial bank is scrambling to recoup the millions lost due […]

Ethiopia’s Muslims, Christians mark fasting month feeling pinch of inflation  – Anadolu Agency 08:48 

Inflation has been a persistent issue in Ethiopia for at least 3 years Sadik Kedir Abdu  |19.03.2024 People harvest coffee beans which has a light citrus taste called the ‘Yirgacheffee’, that benefits the country’s economy in Yirgacheffee, Ethiopia on December 7, 2023.    – Citizens say prices for basic goods ‘are changing day by day’ […]

Atrocity Survivors in Ethiopia Remain Without Justice – Amnesty International USA (Press Release) 09:59 

MARCH 19, 2024 PRINT A year after releasing an atrocity determinationopens in a new tab for the conflict in northern Ethiopia, the United States government has not made any updates or taken on new policy changes towards justice and accountability.  “An atrocity determination without meaningful policy change that addresses the pervasive cycle of impunity in Ethiopia isn’t worth […]

Ethiopian bank seeks to recover millions after a technical glitch triggered massive withdrawals  – Associated Press 10:24 

Updated 10:09 AM EDT, March 19, 2024 NAIROBI, Kenya (AP) — Ethiopia’s biggest bank is reportedly attempting to recover more than $40 million after a technical glitch allowed customers to withdraw more than they had in their accounts. Long lines formed at cash machines across Ethiopia after the problem was discovered at the Commercial Bank […]

Ethiopia’s pharmacies are running short of drugs due to its forex crisis  – Semafor

Samuel Getachew Mar 19, 2024, 8:59am EDT AFRICA THE SCENE ADDIS ABABA — Last month, in a post on X (formerly Twitter), I made an open offer. I called for anyone to send me a private message if they knew someone who urgently needed essential medicine to be brought from Kenya. I was set to attend the […]

Customers asked to return $40 million after a bank glitch let them take out more money than they had, report says

Polly Thompson  Mar 19, 2024, 10:50 AM EDT A technical glitch let customers of an Ethiopian bank take out or transfer more money they had in their accounts. Long queues formed at ATMs as news spread in the early hours of Saturday morning that unlimited withdrawals could be made from the Commercial Bank of Ethiopia […]