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BusinessEthiopia’s total external debt climbed to $39.97 billion at the end of 2025, up 9.1 percent from a year earlier, according to the World Bank’s newly released International Debt Report 2026. The figure is nearly double the $20.4 billion the country owed in 2015, underscoring a decade of steady borrowing to finance infrastructure and development.
BusinessThe International Finance Corporation (IFC), a member of the World Bank Group, has signed its first investment agreement with Ethiopian fintech company Kifiya Financial Technology PLC to expand access to finance for smallholder farmers and underserved businesses across Africa. Announced on November 4 at the Africa Financial Summit (AFIS) 2026 in Luanda, Angola, the investment
BusinessEthiopia’s annual inflation rate declined to 14.6% in October 2026, down from 14.9% in September, as food price increases continued to ease. However, non-food inflation accelerated during the month, highlighting persistent cost pressures across the economy. According to the latest report from the Ethiopian Statistics Service (ESS), the October inflation rate was 3.0 percentage points
BusinessSafaricom Plc said its losses in Ethiopia fell by more than half in the six months to September. The improvement helped the Kenyan telecom group post a 36% rise in first-half net profit, to 58.2 billion Kenyan shillings (about $448 million). Safaricom Ethiopia’s loss before interest and taxes narrowed to 11.4 billion shillings (about $88
BusinessThe National Bank of Ethiopia (NBE) says inflation will stay in double digits for at least the next six months. Annual inflation stood at 14.9% in September 2026, and the bank expects it to ease gradually without falling back to single digits. The outlook came in a statement released today after the eighth meeting of
Banking & FinanceCooperative Bank of Oromia and Kifiya Financial Technologies have introduced Michu Mizan, a Sharia-compliant digital financing product designed to expand access to finance for micro, small and medium enterprises (MSMEs) and smallholder farmers in Ethiopia. The product was officially unveiled at an event held at Sheraton Addis, bringing together government representatives, industry leaders, development partners
Banking & FinanceAwash Bank reported total assets exceeding Birr 624 billion for the 2025/26 fiscal year, marking continued growth as the bank expanded its operations to more than 1,010 branches and over 20,658 employees. The figures were disclosed by Gure Kumsa, Chairperson of the Board of Directors, during the opening remarks of the bank’s 31st Ordinary and
AWAB-2.78%
Banking & FinanceEthiopia has opened the door to foreign banks. The harder question is who walks through it first, and what they will need to see before they do. That question was the focus of a webinar hosted by Precise Consult and Africa International Advisors on 28 October. The timing matters. Foreign investors can now own up
Banking & FinanceHibret Insurance S.C. reported a 36.98% increase in its annual surplus before tax, reaching Birr 1.38 billion for the 2025/26 fiscal year. The company collected Birr 3.42 billion in premiums across its life, non-life and general Takaful insurance businesses in the fiscal year ended June 30, 2026, marking a 24.18% increase from the previous fiscal
Banking & FinanceNyala Insurance S.C. has reported unaudited profit exceeding Br1 billion for the latest fiscal year, as the company’s paid-up capital surpassed Br2 billion after three decades of operation. The insurer announced the figures on Tuesday during a ceremony in Addis Ababa, where it launched a new corporate identity as part of a broader modernization strategy
Banking & FinanceDashen Bank reported a 37.4% increase in total assets to Birr 350 billion and a 49.2% rise in total income to Birr 47 billion for the fiscal year ended June 30, 2026. The bank’s profit before tax reached Birr 15.2 billion, while customer deposits grew by 37% to Birr 280 billion, according to a press
Banking & FinanceDashen Bank and EIB Global, the development arm of the European Investment Bank (EIB), have signed a Memorandum of Understanding (MoU) to provide €20 million in financing to small and medium-sized enterprises (SMEs) in Ethiopia. The partnership aims to help Ethiopian businesses expand their operations, strengthen their market positions and access financing for investment and
