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i-Capital Institute Becomes the Licensed Securities Investment Advisor in Ethiopia

The Ethiopian Capital Market Authority has officially licensed I-Capital Institute plc as a Securities Investment Advisor, marking a significant milestone in the development of Ethiopia's capital markets and boosting investor services.

Hibret Bank’s 2024 Financial Performance Hits 2.3 Billion Br in Profit

Hibret Bank posts a record net profit of 2.3 billion Br in 2024, with total revenue up by 28.1% and assets growing to 96.58 billion Br. Discover how strategic innovation and resilience drove this success.

Awash Bank Surpasses Expectations With 8.7 Billion Br Annual Profit

Awash Bank achieved 8.7 billion Br in net profit which is announced during its 29th annual general assembly, with 24% deposit growth, increased assets, and strategic resilience against economic and cybersecurity challenges.

Development Bank of Ethiopia Achieves 258% Profit Surge in Q1

The Ethiopian Development Bank (EDB) has announced a remarkable 258% profit growth in Q1, achieving ETB 1.2 billion. Key drivers include increased loan disbursements in agriculture, mining, and energy, improved collections, and a 19% boost in bond sales.

Commercial Bank of Ethiopia to Establish Investment Bank Subsidiary

The Commercial Bank of Ethiopia (CBE) is set to establish an investment bank subsidiary, marking a significant move in Ethiopia's emerging capital market. This initiative follows recent regulatory updates from the National Bank of Ethiopia and positions CBE alongside other market players like Genesis Investment Bank and Pragma Investment Bank.

NBE Mandates Digital QR Code Standard for All Payment Service Providers

The National Bank of Ethiopia (NBE) has mandated that all payment service providers adopt standardized Digital Payment QR codes by December 1, 2024.

National Bank of Ethiopia Launches Online Inter-Bank Money Market Platform

The National Bank of Ethiopia (NBE) has officially launched an online interbank money market platform, a step forward in its transition to an interest-rate-based monetary policy framework.

Zemen Bank’s 2024 Annual Report Analysis: Future Growth and Challenges

Zemen Bank's 2024 performance and strategic growth in Ethiopia’s financial sector, highlighting profit growth, digital transformation, ESG initiatives, and capital market readiness.

Ethio Telecom Launches 100 million Shares to the Public

Ethio Telecom, previously a fully state-owned entity, has unveiled 100 million ordinary shares in the country's first initial public offering (IPO).

Dashen Bank Reports Birr 6.4 billion Profit for the 2023/24 Fiscal Year

Dashen Bank, one of Ethiopia’s leading private banks, announced a Birr 6.4 billion profit before tax for the past fiscal year, a 26.8% increase from the previous year.

Heineken Acquires Komari Beverages in Major Deal

Komari Beverages, the fast-growing producer of Arada drinks, has finalized negotiations to sell its factory to Heineken.

NBE Grants Licenses to Five Independent Foreign Exchange Bureaus

The National Bank of Ethiopia (NBE) has announced the licensing of five new Independent Foreign Exchange Bureaus under its recently issued Foreign Exchange Directive No. FXD/01/2024

United Insurance President Wins 2024 Best CEO of African Insurance Companies Award

Mrs. Meseret Bezabih, President of United Insurance, has been named the Best CEO of African Insurance Companies for 2024.

Dr Yohanes Ayalew, President of Development Bank of Ethiopia Resigns

Dr. Yohannes Ayalew, who has been leading the Ethiopian Development Bank (DBE) as president for the past four years, has officially resigned.

National Bank of Ethiopia Opens Foreign Exchange Market to Private Businesses

The National Bank of Ethiopia (NBE) has officially completed the process to permit non-bank private entities to open foreign exchange offices, marking a significant shift in the country's foreign exchange regulations.

Ethiopian Capital Market Authority to Launch Regulatory Sandbox

The Ethiopian Capital Market Authority (ECMA) is launching a regulatory sandbox to allow fintech companies to test new technologies and disruptive business models in a controlled environment. Learn how this initiative will shape the future of Ethiopia's capital market.

Ethiopian Airlines Partners with AliExpress to Boost E-Commerce in Ethiopia

Ethiopian Airlines partners with AliExpress to distribute products, marking a major milestone in Ethiopia's e-commerce industry. The launch event will be held on August 22, 2024, at Skylight Hotel. Learn how this partnership will expand local businesses' reach into global markets.

Hibret Bank President Melaku Kebede Steps Down After Two Decades of Leadership

Melaku Kebede, President of Hibret Bank, steps down after a 20-year career, marking the end of an era. Under his leadership, the bank saw significant growth, technology integration, and record profits. Learn more about his impact on Ethiopia’s banking industry.

Ethiopian Securities Exchange Set to Launch with Advanced Real-Time Trading Platform

The Ethiopian Securities Exchange (ESX) is preparing to launch its real-time trading platform, revolutionizing the country's capital market. Learn about the partnership with Infotech and the role of modern trading systems in Ethiopia’s first stock exchange.

Ethiopian Securities Exchange Signs Technology Agreements with Infotech Private Limited

Ethiopian Securities Exchange (ESX) partners with Infotech Private Limited to launch Ethiopia's first-ever securities exchange, bringing cutting-edge trading technology to revolutionize the financial market.

Breaking News: Ethiopia to Float Birr Exchange Rate

In a historic shift that could redefine Ethiopia's economic landscape, the government has announced the liberalization of its foreign exchange market, a change set to take effect on Monday, July 29, 2024.

ECMA Approves License for Ethiopia's First Stock Exchange, ESX

The Ethiopian Capital Market Authority (ECMA) announces a historic directive enabling the licensing of the first securities exchange in Ethiopia, setting a new framework for capital raising and market regulation.

Ethiopia and UAE Sign Landmark Currency Swap Agreement and MoUs

The Central Bank of the UAE and the National Bank of Ethiopia sign a significant currency swap agreement and MoUs to enhance trade, promote local currency use, and interlink payment systems, setting the stage for Ethiopia's new capital market.

Ethio Telecom Reports Record Profits and Telebirr Milestones in 2023/24 FY

Ethio Telecom has announced its impressive accomplishments for the fiscal year 2023/24. The company surpassed its targets, achieving 107.8% of its planned goals and expanding its Telebirr customer base to 47.55 million users.

National Bank of Ethiopia Sets New National Bank Rate at 15%

The National Bank of Ethiopia (NBE) has announced a groundbreaking new monetary policy framework designed to ensure low and stable inflation. This significant development marks a major step in modernizing Ethiopia’s financial system and aligning it with global best practices.

Government Revises Excise Tax on Beer and Tobacco Products

The Ethiopian Ministry of Finance has announced an increase in excise duty on beer, tobacco products, and plastic bags

ECMA: Mr. Habtamu Eshetu Becomes the First Licensed Individual Securities Investment Advisor

The Ethiopian Capital Market Authority (ECMA) has marked a significant milestone by granting its first individual securities investment advisor license to Mr Habtamu Eshetu Gebre

Development Bank of Ethiopia Cancels 4.97 billion Birr Bad Loans

Development Bank of Ethiopia announces the cancellation of 4.97 billion Birr in bad loans from the agricultural sector.

Emebet Melese, Former CBE Vice President Assumes Nib Bank Presidency

Emebet Melese, PhD, formerly the vice president of the Commercial Bank of Ethiopia (CBE), has assumed the role of president at Nib Bank, succeeding Genene Ruga who resigned months ago.

Six Public Companies to List Shares on Ethiopian Securities Exchange

Ethiopian Investment Holdings reveals plans for six public development companies to sell their shares on the Ethiopian Securities Exchange. Learn about the companies and their offerings in Ethiopia's emerging Ethiopian capital market

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