Category
100 articles
Banking & FinanceThe National Bank of Ethiopia sold USD 140 million to commercial banks today in its 31st dollar sale. Banks asked for a total of USD 150.83 million, about USD 10.83 million more than was available. Demand was a little lower than two weeks ago. On October 13, the central bank also offered USD 140 million,
Capital MarketPrize Worth Investment Bank S.C. has joined the Ethiopian Securities Exchange (ESX) as a Trading Member. The admission brings the number of firms licensed to trade on the bourse to nine. The investment bank received its membership certificate on Thursday at a ceremony at the Exchange’s head office. It was admitted after securing a license
BusinessNigerian billionaire Aliko Dangote says his group has bought a 25% stake in Kenya Pipeline Company (KPC), expanding his energy business in East Africa. Dangote, founder and chief executive of Dangote Industries Ltd., announced the purchase at an event in London on Wednesday, Bloomberg reports. He did not name which of his companies made the
Banking & FinanceNeway Megersa, the founding president who steered Siinqee Bank through its transformation from a regional microfinance institution into one of Ethiopia’s fastest-growing commercial lenders, has been appointed Chief Executive Officer of the Oromia Sovereign Fund. The bank has named Getachew Deressa as its Acting Chief Executive Officer. From microfinance to commercial banking Neway’s departure closes
Banking & FinanceEthiopia’s Interbank Money Market (IMM) has surpassed ETB 4 trillion in cumulative transaction volume, a new milestone that shows how quickly commercial banks are shifting to market-driven liquidity management less than two years after the platform opened. The market began operating in October 2024. The National Bank of Ethiopia (NBE) runs it, and trades are
Banking & FinanceThe Cooperative Bank of Oromia (Coopbank) posted a profit before tax of ETB 11.47 billion for the 2025/26 fiscal year. The bank reported the results at its 22nd Ordinary General Assembly of Shareholders. At the meeting, shareholders reviewed the bank’s annual performance and strategic priorities. Total deposits reached ETB 193.26 billion, and foreign exchange earnings
LeadershipThe Board of Directors of Ethio Telecom has appointed Mr. Tariku Demissie as Acting Chief Executive Officer of the company, effective October 16, 2026. The appointment was communicated in a letter issued by Ms. Frehiwot Tamiru, Chairperson of the Board of Directors. Ms. Frehiwot previously served as Chief Executive Officer of Ethio Telecom. On October
TELE+3.81%
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
