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.
Mining & Natural Resources
Ethiopia Eyes Gold Breakthrough with $340m Tulu Kapi Project
Ethiopia secured $340 million in financing for the Tulu Kapi gold project, enabling construction of the country’s largest modern gold mine. The package includes $240 million in long-term debt from African lenders and $100 million in equity to support KEFI Gold and Copper’s full-scale development.
Located 360 km west of Addis Ababa, Tulu Kapi is projected to produce 164,000 ounces of gold annually in its first seven years, targeting commercial production in 2027. Developed jointly with the Ethiopian government, the project aims to boost foreign currency earnings and position mining as a strategic pillar of the economy.
Finance & Banking
NBE Holds Credit Cap Amid Liquidity Pressures
The National Bank of Ethiopia (NBE) maintained the 24% annual credit growth ceiling and 15% policy rate. Broad money supply rose 38.8% YoY by November 2025, while credit growth reached 44.5%. To absorb excess liquidity—partly driven by gold-related FX inflows—reserve requirements were raised to 10%, and the minimum savings deposit rate was removed. Inflation eased to 10.9%, but direct credit controls will remain until single-digit inflation is achieved. Read more
CBE’s Total Deposits Surpass 2 Trillion Birr
The Commercial Bank of Ethiopia (CBE) crossed a major milestone with total deposits exceeding 2 trillion birr, doubling in under three years. Over 325 billion birr were collected in the first six months of FY2025/26. The bank aims to grow deposits by another 750 billion birr by year-end, cementing its role in Ethiopia’s financial system. Read more
Ethiopia Plans 288bn Birr T-Bill Auctions in Q1 2026
The Ministry of Finance will raise 288.3 billion birr via six Treasury bill auctions (28, 91, 182, 364-day maturities) between January and March. Individual auctions will range from 44.3–53.3 billion birr. The program supports fiscal consolidation and a shift from central bank financing under the IMF-backed reform agenda.
Ethiopia Re Posts Strong FY2024/25 Performance
Ethiopia Reinsurance S.C. raised reinsurance revenue to 2.96 billion birr, lifting profit before tax by 45% to 616.7 million birr. Investment income grew 28% to 406.2 million birr, and total assets reached 5.22 billion birr. A dividend of 495 million birr (26.19 birr per share) has been proposed.
Zemen Insurance Posts Double-Digit Growth
Zemen Insurance S.C. reported gross written premiums of 699.5 million birr (+28%) and profit of 211.8 million birr. Total assets reached 1.36 billion birr and net assets 604.4 million birr (+54%). Plans include expanding branches and diversifying into long-term, Takaful, and microinsurance. Source: Birrmetrics
Ethiopia Reaches Agreement on 2024 Eurobond Restructuring
Ethiopia reached an agreement in principle with bondholders on restructuring its USD 1 billion 6.625% Eurobond due 2024. Negotiations with investors holding over 45% of the notes align with the IMF program and Official Creditor Committee principles. Finalization awaits approvals, with implementation expected early 2026. Read more
Investment & Capital Markets
Siinqee Investment Bank Licensed
Ethiopian Capital Market Authority (ECMA) granted a license to Siinqee Investment Bank, the fifth investment bank in Ethiopia. The bank will support securities trading, capital raising, and advisory services, bolstering the country’s growing capital market. Read more
Habesha Breweries Registers Shares with ECMA
Habesha Breweries registered 3.5 million existing shares and 170,496 new shares with ECMA, complying with the Public Offer Directive. The announcement is for disclosure purposes only. Read more
Startups & Technology
MInT Opens National Startup Registration
The Ministry of Innovation and Technology launched a nationwide startup registration drive under the Startup Act Proclamation. Eligible startups gain official recognition, better coordination, and access to technical and policy support. Register here
LakiRemit Launches, Reduces Creator Gift Losses by 90%
Lakipay Financial Technology SC launched LakiRemit, a digital remittance platform, and “Gifter,” enabling TikTok creators to receive up to 95% of gift value. The platform has processed over 1 million transactions worth 500 million birr and integrates with banks, fintechs, and international networks like Visa and Mastercard.
M-PESA Ethiopia Hits 5 Million Active Users
M-PESA Ethiopia now has 5 million 90-day active users, supported by 50,000+ merchants and 900+ applications developed by 2,500 developers. Integration with 18 banks and expanded services like micro-loans, School Pay, and utility payments highlight Ethiopia’s growing digital payments ecosystem. Read more
Ethiopost Launches Virtual P.O. Box & “Post Gebeya” E-Commerce Platform
Ethiopost introduced two digital services:
- Virtual P.O. Box: Mobile numbers now serve as postal addresses with tiered subscriptions.
- Post Gebeya: An e-commerce platform for MSMEs connecting local and global markets. Both integrate with Ethio Telecom and Telebirr. Read more
CBE, Ministry of Revenues Partner on Digital Tax Payments
CBE signed a service agreement with the Ministry of Revenues to expand electronic tax declaration and payment via banking channels, covering 94% of registered taxpayers. The partnership aims to improve compliance, reduce costs, and ease payment complaints.
Ethio Telecom Adjusts Tariffs to Support Network Expansion
Ethio Telecom raised tariffs moderately to fund nationwide telecom and digital infrastructure investment while doubling telebirr Super App discounts to 20% and maintaining low-cost bundles for vulnerable groups. Read more
NBE Warns Against Illegal Money Transfers
NBE renewed warnings against unlicensed money transfer services, listing operators such as Shige, Adulis, and Red Sea. Only licensed channels are advised to protect remitters and the financial system. Read more
Governance & Oversight
EIH Launches “Adera” Platform
Ethiopian Investment Holdings (EIH) launched Adera, an online complaints platform for public reporting of mismanagement and corruption across its 3.9 trillion birr SOE portfolio. The platform supports Amharic and English, with plans to expand to Oromiffa and Tigrigna.
Stay tuned for next week’s insights, where we unpack more sectoral trends and policy moves shaping Ethiopia’s future.
Enjoyed this edition? Forward it to your circle or reply with tips and scoops—we’re always listening. Stay curious, stay caffeinated, — Written by the StockMarket.et Newsroom
