CBE Capital has signed separate investment banking agreements with Waliif Investment and Trade S.C. and Hibret Insurance, expanding its role in Ethiopia’s emerging capital market.
The deal with Waliif Investment, a diversified company active in agriculture, manufacturing and other sectors, will support the firm’s efforts to reduce import dependence, expand value-added exports and boost foreign exchange earnings. Waliif has 5,000 shareholders and eight subsidiaries.
Related articles
In a second agreement, CBE Capital partnered with Hibret Insurance, Ethiopia’s second-largest private insurer by paid-up capital. Hibret, founded 31 years ago with 8 million birr in capital, now has over 700 shareholders and more than 1 billion birr in paid-up capital. It is a major underwriter of life and non-life insurance, with motor insurance accounting for most premium income.
CBE Capital said the agreements reflect its commitment to strengthening Ethiopia’s private sector and supporting the development of the country’s capital markets.
