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Capital MarketThe Ethiopian Capital Market Authority (ECMA) has approved the registration of 11,665,497 existing shares of Hibret Bank S.C., marking another step in the bank’s securities being brought under the capital market regulatory framework. ECMA said it approved Hibret Bank’s Registration Statement on August 6, 2026, in accordance with the Capital Market Proclamation No. 1248/2021 and
Banking & FinanceGlobal Bank Ethiopia has appointed Sahlemichael Mekonnen as Acting Chief Executive Officer, following the removal of former CEO Tesfaye Boru by the National Bank of Ethiopia (NBE). Mekonnen brings more than 21 years of experience in Ethiopia’s banking and financial sector, with a career spanning banking operations, credit, risk management, retail banking, digital banking and
The Ethiopian Securities Exchange (ESX) has announced the departure of its founding Chief Executive Officer, Tilahun Esmael Kassahun (PhD), with the Board of Directors appointing Yodit Kassa as his successor. In a statement issued Friday, ESX thanked Tilahun for his “visionary leadership and invaluable contribution” to establishing Ethiopia’s securities exchange and congratulated Yodit on her
Capital MarketEnat Bank has signed a Memorandum of Understanding (MOU) with I Capital Africa Institute and FSD Ethiopia to support the development of Ethiopia’s first private-sector Gender Bond. The partnership will focus on key activities required before and after the issuance of the bond, including structuring, regulatory compliance, investor engagement, launch activities, and post-issuance management in
LeadershipAir India has appointed former Ethiopian Airlines Group CEO Tewolde Gebremariam as its new Chief Executive Officer and Managing Director, effective immediately. He succeeds Campbell Wilson, who has led the Tata Group-owned airline since its privatization in 2022. The appointment comes as Air India moves from its initial restructuring phase to a new stage focused
Deep DiveSomewhere along the way, Ethiopia’s stalled job market became a story about laziness. It’s a familiar narrative, usually aimed at the young and the unemployed. And repeated so often it started to sound intuitive, but does Ethiopia’s labour market actually support it? In this article we’re finding out. The theory goes something like this: the
BusinessEthiopia’s National ID Program has been reestablished as Faydaverse, a State-Owned Enterprise (SOE) under Ethiopian Investment Holdings (EIH), marking a significant step in the country’s digital transformation agenda and the expansion of its Digital Public Infrastructure (DPI). The new entity will be responsible for developing, operating, and scaling trusted digital public infrastructure that supports citizens,
BusinessKEFI Gold and Copper plc has announced that development activities at its flagship Tulu Kapi Gold Project in Ethiopia are progressing according to schedule, with community resettlement, equipment procurement, and contractor mobilisation moving forward ahead of planned mine construction. The London-listed gold and copper exploration company said the project remains on track to begin commissioning
Banking & FinanceAbay Bank has launched the Abay Classic International Prepaid Visa Card, expanding its digital banking services and enabling customers to make secure international payments without carrying cash. The card, introduced in partnership with Visa, allows customers to make payments at ATMs and point-of-sale (POS) terminals worldwide, as well as conduct online purchases on international e-commerce
ABAYB-1.33%
Banking & FinanceTsedey Bank has reported a gross profit before tax of ETB 4.3 billion, as the bank showcased significant improvements across its core operations during a performance review and planning forum held at its headquarters. The three-day forum, held from July 26–28, brought together members of the bank’s Board of Directors, senior executives, district managers, branch
NewsThe United States will make its visa security deposit program permanent, increasing the maximum required deposit for certain visa applicants from $15,000 to $20,000, according to new guidance from the U.S. State Department. The revised policy will apply to applicants seeking B1 (business) and B2 (tourist) visas from countries identified as having high visa overstay
EconomyA former World Bank president has sharply criticized Ethiopia’s exchange rate reform, arguing that the IMF-backed shift to a market-determined exchange rate has significantly worsened poverty while disproportionately benefiting banks and well-connected firms. The criticism comes from David Malpass, who served as President of the World Bank Group from 2019 to 2023, in Policy Research
