New Importers and Exporters Can Now Get Their National Bank Account Number Online
Now it is easy to establish a new business of import and export in Ethiopia. The National Bank of Ethiopia (NBE) has introduced a new service that enables first-time importers/exporters to obtain their National Bank account number without any hassle. This change is designed to get rid of the paperwork.
The NBE issued this statement today to announce the news. The bank added that the importers and exporters are now able to obtain their National Bank account number from the Ethiopian Customs Commission’s Single Window Service (Customs Electronic Single Window (eSW)).
Now, new businesses no longer need to go through a separate, slow registration process to obtain a National Bank account number. Now they can obtain it via the same digital platform they are using for customs.
NBE said that this new process is all about making it easier for business owners.
The goal is to
- Simplify and streamline business import/export processes
- Boost the speed of service, removing any time-consuming administrative barriers.
- Remove the challenges customers used to run into when applying the old way
The general idea was to find out what was delaying customers and fix it. This new process is only for new importers or exporters. This includes companies that are signing up for a National Bank account number for the first time.
If you already have a business, then nothing will change for you. The NBE is clearly stating that the existing businesses will continue to utilize their existing National Bank account number in all their import and export business transactions from now onwards. No re-application or change is required.
This is not a one-off change. It is part of Ethiopia’s efforts to make import/export processes more modern, the NBE said. The bank also mentioned a couple of areas that it is working on:
- Facilitating and improving import and export procedures in general
- Supporting the company’s business environment to enhance trade
- Strengthening how digital public services are delivered
It’s a reflection that a lot of these day-to-day business activities are becoming digital. Moreover, NBE Ethiopia has raised interest rate this week. This is the first increase in the interest rate by the National Bank of Ethiopia (NBE) since 2024.
