Monday Breakfast Stories and more from the StockMarket.et desk.
Merry Christmas to everyone celebrating!🤗 Here’s a roundup of this week’s business and economic highlights. ZamZam Bank Launches Sharia-Compliant Digital Lending Platform, Ansar ZamZam Bank, Ethiopia’s pioneer in interest-free banking, has unveiled Ansar, a Sharia-compliant digital finance solution for individuals and MSMEs. Developed in partnership with Kifiya Financial Technology, Ansar operates as a Buy Now,
Commercial Bank of Ethiopia Assets Hit 1.9 Trillion Birr The Commercial Bank of Ethiopia (CBE) has achieved a record 1.9 trillion birr in total assets, with deposits reaching 1.4 trillion birr, according to its president, Abe Sano. The bank attributes its success to comprehensive macroeconomic reforms, including a market-based exchange regime that boosted savings and
Ethiopian Securities Exchange Partners with Bourse de Casablanca The Ethiopian Securities Exchange (ESX) and Bourse de Casablanca have signed a strategic cooperation agreement to advance African capital markets. Announced at the Africa Financial Summit in Casablanca, the partnership focuses on technical expertise, market development, and innovation to strengthen Ethiopia’s evolving stock market. Bourse de Casablanca
Bunna Bank Reports 930.1 Million Birr Profit Amid Challenges Bunna Bank S.C. achieved a remarkable 930.1 million birr pre-tax profit amid economic challenges, including inflation and forex shortages. Deposits grew by 20% to 43.87 billion birr, with loans reaching 38.87 billion birr (11.8% growth) and foreign exchange earnings totaling $167.6 million. The bank’s assets rose
ECMA Licenses Ethiopia’s First Securities Exchange The Ethiopian Capital Market Authority (ECMA) has licensed the Ethiopian Securities Exchange (ESX), marking a key development in the country’s financial sector. This milestone supports Ethiopia’s macroeconomic reform agenda by providing businesses access to financing and offering investors new growth opportunities. ECMA also granted ESX an Over-The-Counter (OTC) market
I-Capital Institute Licensed as Securities Investment Advisor I-Capital Institute plc has been licensed by the Ethiopian Capital Market Authority (ECMA) as a Securities Investment Advisor, becoming the third such entity in Ethiopia. This move aims to enhance professional advisory services for investors and issuers, boosting the country’s growing capital market. I-Capital joins Deloitte and individual
Ethiopia’s Foreign Earnings from Pulses and Oilseeds Surge Ethiopia earned USD 156 million from cereal and oilseed exports in four months, achieving 95% of its target. Exports included USD 66 million from oilseeds and USD 90 million from pulses, showcasing strong growth potential. 2Merkato Embracing Risk: Insights from Ethiopian Capital Market Authority Industry Day Commissioner
Ethiopia’s Financial Revolution: Key Takeaways from Capital Market Summit 2024 The Capital Market Summit 2024 (#CMS2024) marked a turning point in Ethiopia’s financial landscape, bringing together experts, government officials, and investors to discuss the future of the country’s capital markets. Governor Mamo Mihretu highlighted the imminent launch of the Ethiopian Securities Exchange (ESX), which will
It seems like it was a relatively quiet week in terms of activities, but here’s a summary of what happened in the capital market ecosystem and business overall. The Ethiopian Capital Market Authority and Ethiopian Securities Exchange (ESX) are actively organizing regional roadshows aimed at promoting capital market education. This week, they conducted sessions at
This week, the Ethiopian Capital Market Authority (ECMA) convened a panel discussion on “Aligning Startups With Funding Opportunities.” The session delved into crucial strategies and initiatives aimed at empowering startups in Ethiopia, with a focus on fostering growth, enhancing quality, and increasing early-stage funding. According to the Ethiopian Statistical Services, the annualized headline inflation rate
As the week drew to a close, a variety of publications, events, news updates, and regulatory developments unfolded. Let’s delve into a few of them. The startup scene is abuzz with excitement as Startup Ethiopia takes center stage at the science museum, showcasing a diverse array of startups across various sectors. Running from April 5
Throughout the week, numerous significant milestones unfolded within the capital market, and here we present all the ongoing events to ensure you stay abreast of the latest developments. In the statement released by the Ethiopian Capital Market Authority, Deloitte has become the first licensed securities investment advisor in Ethiopia. This significant achievement places Deloitte at
Monday Breakfast Stories lands every week — the capital market, banking, and startup news that moved.
