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BusinessCarrefour’s entry into Ethiopia does not arrive with fireworks. There are no glass towers rising overnight, no sudden takeover of city blocks, no loud declarations of a retail revolution. Instead, it comes quietly, through a franchise agreement, a rebranding exercise, and a set of supply contracts signed behind closed doors. Thirteen stores today, more tomorrow.
Banking & FinanceCommercial Bank of Ethiopia (CBE) has surpassed a major financial milestone, with its total deposits exceeding 2 trillion birr, driven by strong deposit mobilization in the first half of the 2025/26 fiscal year. The state-owned bank collected more than 325 billion birr in deposits during the first six months of the fiscal year alone, according
M-PESA Ethiopia has reached 5 million 90-day active customers, marking a major milestone in the country’s fast-evolving digital financial services landscape and underscoring growing consumer trust in mobile money platforms. The company said platform activity has doubled over the past three months, driven largely by everyday transactions and the expansion of its merchant and payments
BusinessIn a major leap for Ethiopia’s digital logistics and trade sectors, Ethiopost has officially launched two transformative services: the “Virtual P.O. Box” and the “Post Gebeya” e-commerce platform. The announcement was made by Ethiopost CEO Dagmawi Hailiye, who highlighted that these initiatives are designed to modernize the nation’s postal capabilities and empower Micro, Small, and
BusinessEthio telecom has announced a moderate adjustment to its telecom tariffs, pointing to prevailing macroeconomic pressures and rising capital and operational costs, while reaffirming its commitment to affordability and digital inclusion. In a statement issued on today, the state-owned operator said that over the past six years it has implemented repeated and significant tariff reductions,
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Banking & FinanceThe Commercial Bank of Ethiopia (CBE) has signed a 27.8 billion birr loan agreement with Ethiopian Airlines to finance the construction of housing for the airline’s employees. The agreement aims to provide a long-term solution to the housing needs of Ethiopian Airlines staff while ensuring the availability of adequate financial resources for the large-scale construction
BusinessSafaricom Ethiopia has announced a revision of its mobile data bundle prices, citing rising operational and investment costs as the key drivers behind the move. In a statement to customers, the telecom operator said the price rationalization is aimed at ensuring the continued delivery of reliable and high-quality mobile data services across the country. The
BusinessEthiopian Investment Holdings (EIH), Ethiopia’s sovereign wealth fund, has launched a sweeping leadership and governance reform across its portfolio of state-owned enterprises, signaling a decisive shift toward commercially oriented management and stronger accountability. The reform drive, led by EIH Chief Executive Officer Brook Taye, aims to modernize board structures and executive leadership in line with
BusinessEthiopost has signed a cooperation agreement with EthSwitch Share Company to jointly implement strategic initiatives aimed at strengthening digital payment and agency banking infrastructure. The agreement, signed during an official ceremony, focuses on the joint development of an Agent Network Management Application, a system expected to enhance the efficiency, reach, and coordination of agent-based financial
BusinessDr. Brook Taye, CEO of Ethiopian Investment Holdings (EIH), has been named among Africa’s Most Influential Africans in 2025 by New African Magazine. Dr. Taye’s inclusion reflects his central role in shaping Ethiopia’s evolving economic reform agenda and in transforming EIH into one of Africa’s most discussed sovereign investment institutions. Since assuming leadership, he has
Banking & FinanceFC Africa has signed the country’s first blended finance partnership agreement focused on conflict-affected areas, marking a major step toward expanding access to finance for micro, small, and medium enterprises (MSMEs in post-conflict settings. Under the agreement, Lion International Bank, through its digital finance platform Alegnta, has formally launched a pilot uncollateralized digital lending service
BusinessThe Ethiopian Lottery Service has announced the revocation of licenses for all sports betting companies operating in the country, effective December 6, 2018. In an official statement, the Service said the decision was taken in line with directives issued by the Government of the Federal Democratic Republic of Ethiopia and the regulatory authority granted to
