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National Bank of Ethiopia Warns Against Illegal Forex Transfer Agents National Bank of Ethiopia (NBE) has issued a strong warning to the Ethiopian diaspora and the wider public regarding the use of unauthorized foreign currency transfer agents. In its latest announcement, the central bank emphasized that several entities claiming to facilitate foreign exchange transfers into Ethiopia are operating without legal recognition. According to the NBE, these agents are not licensed under Ethiopian financial regulations and therefore pose significant risks to senders and recipients. Subscribe to Addis Business Review Addis Business Review - አዲስ ቢዝነስ ሪቪው Official YouTube channel for Addis Business Review (ABR) We’re here to showcase Ethiopia’s newest businesses, innovative products, and unique services. Through honest reviews and engaging features, we connect audiences with the latest in the Ethiopian business world. Business owners and service providers join us to share your…

Officials in Addis Ababa have taken action against 86 sports betting shops operating within the Addis Ketema District, claiming they were found engaging in illegal activities.

According to Addis Ababa Police, sports betting shops have been identified as potential hotspots for criminal activities, contributing to increasing crime rates.

Speaking to the Ethiopian Broadcasting Corporation, Chief Inspector Paulos Demsey, the head of the community police service division within the district police department, stated that police took actions against these establishments where violent incidents have been reported.

According to Paulos, the affected betting shops were found to be operating outside the district where their licenses were issued and engaging in the sector without the required business licenses. Paulos added that actions against shops involved in unlawful activities would continue.

This marks another major crackdown on betting companies in the cap…

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Addis Business Review – National Bank of Ethiopia Warns Against Illegal Forex Transfer Agents

Daily Brief: Police Crack Down on “Illegal Sports Betting” Shops in Addis Ababa