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Ethiopia

Commercial Bank of Ethiopia recovers US$10m taken during technical glitch

Ethiopia's largest bank says it has recovered almost three-quarters of the $14m (£12m) it lost in a glitch that allowed customers to withdraw more money than they had in their accounts.

Ethiopian bank warns ‘no escape’ for clients who profited from glitch

The head of Ethiopia's biggest commercial bank has told the BBC that customers who withdrew more money than was in their accounts because of a glitch cannot "escape" the law. Commercial Bank of Ethiopia (CBE) customers rushed to take out money, or transfer it to other accounts. It took several hours for the state-owned bank to freeze transactions. Those who do not return money that is not theirs will be prosecuted, warned CBE president Abe Sano.

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