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Global Bank Ethiopia, Lucy Insurance, and Kacha Unveil Ethiopia’s First Digital Insurance and Loan Service

Global Bank Ethiopia, Lucy Insurance S.C., and Kacha Digital Financial Services have introduced “Agar,” Ethiopia’s first digital insurance and loan service. The platform is designed for insurance customers, meter taxi drivers, and salaried employees, offering digital loan and savings solutions. Ethiopia’s insurance sector has traditionally relied on paperwork and rigid documentation, limiting accessibility and market

StockMarket.et20 Mar 2025

Business

Digital transactions on telebirr reached 1.03 trillion birr

Ethio telecom has reported its provisional performance results for the first six months of the Ethiopian Fiscal Year (EFY) 2017 for Ethiopian Investment Holdings. The company reported a 7.9% year-on-year increase in subscriptions, a 43% increase in top-line growth rate, and a 55.5% increase in EBITDA margin/rate. Total revenue for the period reached 61.9 billion

StockMarket.et18 Mar 2025

Safaricom Mpesa and Lakipay CEOs signing an agreement

Tech

Safaricom M-PESA and Lakipay Join Forces to Boost Digital Payments

Safaricom M-PESA has announced a strategic partnership with Lakipay Financial Technologies S.C. (Lakipay) aimed at significantly enhancing digital payment services across Ethiopia. The collaboration will integrate M-PESA with Lakipay’s payment gateway, enabling merchants using Lakipay’s platform to accept M-PESA payments seamlessly. This move is expected to simplify transactions for both merchants and consumers, broadening financial

StockMarket.et17 Mar 2025

Tech

Addis Ababa Light Rail to Pilot Digital Ticketing System

The Addis Ababa Light Rail Transport Service Organization has announced a pilot program to transition from traditional paper ticket sales to a digital ticketing system. The move aims to modernize the service and streamline the passenger experience. The pilot program will initially be implemented at four key stations: Hayat, Menelik II, Qaliti, and the Stadium,

StockMarket.et11 Mar 2025

Tech

Ethiopia Ventures into Drone Manufacturing for Defense and Trade

Ethiopia has begun mass-producing unmanned aerial vehicles (UAVs) for both civilian and military applications, marking a significant step in its technological advancement. The initiative aims to bolster national defense while also positioning Ethiopia as an exporter in the growing drone market. Prime Minister Abiy Ahmed recently inaugurated Sky Wing Industry, a company dedicated to manufacturing

StockMarket.et11 Mar 2025

Tech

Ethiopia Expands Digital Health Payments

Ethiopia’s Ministry of Health has signed service-level agreements with eight digital financial service (DFS) providers, marking a significant step in the country’s national digital health strategy. Facilitated with support from the Finance Ministry, the National Bank of Ethiopia, the Ethiopian Health Insurance Service, and the Better Than Cash Alliance, this initiative aims to establish a

StockMarket.et9 Mar 2025

Tech

Ethio telecom Launches Suite of Cloud-Based Solutions

Ethio telecom has launched a suite of seven cloud-based solutions aimed at empowering enterprises and institutions within Ethiopia. These solutions, utilizing Ethio telecom’s cloud infrastructure, are designed to enhance operational efficiency and facilitate digital transformation across various sectors. These cloud-based services offer access to IT resources, including servers, databases, and data storage, through Ethio telecom’s

StockMarket.et26 Feb 2025

TELE+3.81%

Tech

Fayda to Introduce Digital Wallet for Verifying Education and Health Records

The National ID Program is set to launch a digital wallet system that will enable citizens to verify their education and health information through Fayda, the country’s national digital identity system. Rahel Abraham, Deputy Coordinator of the National ID Program, announced the initiative, emphasizing its potential to simplify verification processes. “We are working on a

StockMarket.et26 Feb 2025

Banking & Finance

Coop Bank and Rabo Partnerships Launch Digital Lending Platform to Revolutionize Agricultural Finance

Cooperative Bank of Oromia and Rabo Partnerships (RP) have announced the launch of a new digital lending platform designed to transform agricultural finance in Ethiopia. This innovative solution will streamline the loan application process, providing faster and easier access to credit for farmers, particularly smallholders in remote areas. The platform leverages data analytics and credit

StockMarket.et25 Feb 2025

Startup

NUNA Ethiopia Launches AI-Powered ADMAS Chatbot to Empower Ethiopian Startups

NUNA Ethiopia, in partnership with the Japan International Cooperation Agency (JICA), has officially launched ADMAS Chatbot, an innovative AI-driven tool designed to streamline the creation of Lean Canvas, Business Models, and Business Plans for startups, SMEs, and entrepreneurs across Ethiopia. The launch event highlighted the collaborative effort behind ADMAS and its potential to transform the

StockMarket.et25 Feb 2025

Business

Ethiopia Launches First Electronic Passport

In a landmark event held at the Science Museum, Ethiopia unveiled its first electronic passport (E-passport), marking a significant advancement in the country’s travel documentation system. The initiative, a collaboration between Immigration and Citizenship Services (ICS), Ethiopian Investment Holdings (EIH), and Toppan Security Ethiopia S.C., promises enhanced security, streamlined processes, and international recognition. The launch

StockMarket.et21 Feb 2025

Banking & Finance

Nib International Bank Launches New Digital Payment Systems

Nib International Bank has introduced two new digital payment applications, Nib Amber Pay and Nib Paystream, aimed at enhancing payment convenience and streamlining business transactions. The launch event, held at the bank’s headquarters, featured remarks from the bank’s CEO, Henok Kebede, who outlined the key functions of the new services. According to Henok, Nib Amber

StockMarket.et13 Feb 2025