Your weekly dose of Ethiopia’s sharpest business, economic, and finance news.
Grab your buna and catch up on what’s moving Ethiopia’s markets and economy this week.
Banking & Finance
Wegagen Capital Investment Bank Expands into Wealth & ESG Finance
Wegagen Capital Investment Bank (WCIB), Ethiopia’s first private investment bank, is branching into wealth and portfolio management, along with ESG and Shariah-compliant products. Since its March 2025 launch with 385 million birr, WCIB has opened 37 investment accounts and generated 7.9 million birr in early revenue. CEO Brutawit Dawit says the bank aims to mobilize domestic and diaspora savings for sustainable economic growth. Read more
Wegagen Bank Reports 73% Profit Surge, Surpasses Capital Requirement
Wegagen Bank S.C. achieved a 73% year-on-year gross profit increase to 3.85 billion birr ($66.5 million). Total income rose 38% to 13.5 billion birr, assets reached 84.7 billion birr, and paid-up capital hit 7 billion birr, exceeding NBE requirements ahead of schedule. The bank also became the first financial institution to register shares on the Ethiopian Securities Exchange. Read more
Zemen Bank Posts Record 145% Profit Surge
Zemen Bank S.C. reported a 145% net profit rise to 5.87 billion birr, with EPS hitting 68.3%. Revenue climbed to 14.4 billion birr, and gross profit jumped 136% year-on-year. The bank’s high-efficiency model and focus on credit and forex services have made it a top-performing private lender. Read more
Waliif Investment Appoints CBE Capital as Investment Banker
Waliif Investment and Trade S.C., active in agriculture and manufacturing, has appointed CBE Capital to support its capital market strategy and expansion. Waliif operates coffee processing facilities at Bulbula Agro-Industrial Park and a food manufacturing plant in Wallagga, focusing on import substitution, value-added exports, and FX generation. Read more
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Capital Market & Stock Exchange
ECMA Launches IPO Clinic
The Ethiopian Capital Market Authority (ECMA) has launched an IPO Clinic to prepare local firms for public listings. Backed by the World Bank, the one-year program covers governance, financial reporting, and regulatory compliance. Applications are open to private, share, and state-owned companies with at least two years of operations. Companies demonstrating sustainability or gender inclusion will receive preferential consideration. First cohort applications close October 31, 2025. Read more
Ethiopia’s Investment Banking Era Takes Shape
At the Enkopa Summit, industry leaders highlighted the rapid development of Ethiopia’s investment banking sector. Institutions like Awash Capital and CBE Capital are preparing companies and investors for structured financing, while ECMA has implemented licensing, surveillance, and disclosure systems. Over 25 million Ethiopians now hold digital IDs, enabling investment account registration, with attractive returns emerging on instruments like 28-day T-bills (~13%). The focus now is on raising public awareness and building skilled professionals. Read more
Ethiopian Securities Exchange Targets Nine Listings in 2025
ESX aims to list nine companies this year, prioritizing banking and financial institutions. Where firms are not fully ready, the OTC market will serve as an alternative. Currently, three companies — Ethio Telecom, Gadaa Bank, and Wegagen Bank — are officially listed. ECMA-IFC IPO Clinic supports more firms through technical, financial, and governance assistance. Read more
Trade & Economy
Ethiopia Joins AfCFTA Fast Lane
Ethiopia officially began exports under the African Continental Free Trade Area (AfCFTA), shipping meat, fruits, coffee, oilseeds, and khat to Kenya, Somalia, and South Africa. The launch, overseen by Trade Minister Kassahun Gofe, activated a new African Free Trade Exchange System to simplify cross-border logistics. Air and land routes are operational, allowing producers from Addis, Jijiga, and Hawassa to reach regional markets directly. Read more
Ethiopia Earns $546 Million from Coffee Exports in Two Months
The Ethiopian Coffee and Tea Authority reported $546 million from over 80,000 tons of coffee exports in just two months. With a target of 600,000 tons and $3 billion revenue for the fiscal year, farmers can now export directly to international buyers. Farm-level tasting centers replace centralized quality checks to improve competitiveness and prices.
Ethiopia’s Tax Revenues Are Falling Despite Strong Growth
Ethiopia’s tax-to-GDP ratio has dropped from 12% in 2014 to 7.5% today. Reduced tax enforcement, lower state enterprise profits, forex shortages, and private-sector non-compliance contribute to the decline. The IMF estimates Ethiopia loses ~4% of GDP annually to tax exemptions. Digital reforms like electronic receipts and customs tracking are improving transparency, but structural reforms are needed to widen the tax base and ensure smarter collection. Read more
Transport & Logistics
AMG Industrial Park Linked to Ethio-Djibouti Railway
Construction has begun on a 3 km railway connecting AMG Industrial Park to the Endode Railway Station. This project links industrial parks and logistics hubs to Ethiopia’s main railway network. The connection will enable faster transport of metals, coffee, and other goods to Djibouti Port. The line is entirely built by Ethiopian engineers, demonstrating local capacity in railway development.
Ethiopia Launches Modern Vehicle License Plate System
The Ministry of Transport and Logistics introduced a new national vehicle license plate system with improved visibility, durability, and digital tracking. Over 50,000 plates have been produced for pilot use, with nationwide rollout planned within the current fiscal year.
Fintech & Technology
Arifpay & Red Cloud Partner for Tax-Compliant Digital Payments
Arifpay Financial Technologies and Red Cloud ICT Solutions signed an MoU to integrate Arifpay’s digital payment system with Red Cloud’s ERP-based cash registers. Merchants can now process real-time, tax-compliant payments, sync sales and inventory automatically, and potentially access credit through partners. The collaboration aims to enhance operational efficiency and financial transparency for Ethiopian businesses.
Stay tuned for next week’s insights, where we unpack more sectoral trends and policy moves shaping Ethiopia’s future.
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