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Capital MarketAliko Dangote, Africa’s richest man, told Ethiopian investors on Thursday that his group’s commitment to Ethiopia “has no limit,” as shares in his giant Nigerian oil refinery were formally opened to qualified Ethiopian buyers for the first time. Speaking at the Dangote IPO Ethiopia Investor Roadshow, hosted by the Ethiopian Securities Exchange (ESX) at the
BusinessEthiopia’s annual headline inflation rate eased to 14.9% in September 2026 from 15.1% in August, although it remained above the 13.2% recorded in September last year, according to data released by the Ethiopian Statistical Service (ESS). The latest figure represents a 1.7 percentage-point increase year on year, indicating that inflationary pressures remain elevated despite a
The National Bank of Ethiopia (NBE) sold USD 140 million to commercial banks on Tuesday at Foreign Exchange Auction No. 30. It was the first sale under the central bank’s enlarged second-quarter programme, and bank demand came in above the amount on offer, after two straight auctions that fell short. Banks bid a total of
Capital MarketThe Ethiopian Capital Market Authority (ECMA) said any marketing or sale of Dangote Petroleum Refinery and Petrochemicals shares in Ethiopia must be limited to qualified investors. The ruling keeps Ethiopian retail investors out of what has been billed as Africa’s largest initial public offering. In a public notice issued on Tuesday, the regulator said it
BusinessKEFI Gold and Copper has resumed development activities at its flagship Tulu Kapi Gold Project in Ethiopia following a temporary suspension triggered by a fatal incident in September 2026. The company said development was halted after the incident, which it called the “Genji Incident,” began on September 4 and was resolved on September 10 following
EconomyRobert E. Hall of Stanford University and Michael Woodford of Columbia University have won this year’s Nobel-memorial prize in economics. The Royal Swedish Academy of Sciences honoured them “for microeconomic foundations of macroeconomic stabilisation.” In plain words: they showed governments and central banks how to calm an economy that is overheating or sliding into recession.
Banking & FinanceOromia Bank has officially launched three tiers of international Visa payment cards, expanding its services to customers seeking to make payments abroad and conduct international online transactions. The cards, unveiled at Skylight Hotel, include the Oro Visa Classic, Oro Visa Gold, and Oro Visa Platinum. The bank introduced the services in partnership with Visa, a
Banking & FinanceAwash Bank has launched five new card services in partnership with Mastercard, expanding its domestic and international payment offerings following Ethiopia’s foreign currency reforms. The launch ceremony was held today at Elilly International Hotel in Addis Ababa, attended by Awash Bank officials and Mastercard representatives. Speaking at the event, Awash Bank CEO Tsehay Shiferaw said
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Capital MarketAbay Bank reported a profit before tax of Birr 6.22 billion for the financial year ended June 30, 2026, up 47.6% from Birr 4.22 billion a year earlier, according to audited financial statements reported by Ethiopian Business Review. The bank’s net profit after tax reached Birr 4.55 billion after an income tax charge of Birr
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EconomyThe African Union has launched the Africa Credit Rating Agency (AfCRA), a new institution intended to provide alternative assessments of credit risk across the continent and improve African countries’ access to international capital markets. The agency was launched on Wednesday in Port Louis, Mauritius, where it will be headquartered. African leaders endorsed its creation in
LeadershipTemesgen Tiruneh will continue as Deputy Prime Minister after the House of Peoples’ Representatives approved Prime Minister Abiy Ahmed’s new Council of Ministers on. The cabinet runs 22 federal ministries, four of them rebranded or reorganised under the new executive structure. The line-up reshapes the government’s economic team. Fitsum Assefa moves to the Ministry of
Capital MarketKenya’s Capital Markets Authority (CMA) has approved several licensed intermediaries to facilitate Kenyan investors’ participation in the Initial Public Offering (IPO) of Dangote Petroleum Refinery & Petrochemicals (DPRP) in Nigeria. The CMA said the move follows its earlier communication on approval by Nigeria’s Securities and Exchange Commission for Kenya’s Global Depository Receipt (GDR) investors to
