Happy Patriots’ Day, Ethiopia!
Before we dive into the markets, let’s pause and salute the brave souls who stood tall for Ethiopia’s freedom. Today isn’t just a public holiday—it’s a reminder of what resilience, strategy, and vision can achieve.
In that same spirit, we’re back with another power-packed edition of StockMarket.et Weekly—where fintech meets farms, mining meets policy, and innovation is just another Monday headline. From Bitcoin miners in Benishangul to insurance shake-ups in Addis, the momentum is real. So grab your bunna, charge your phone, and let’s roll through this week’s top stories shaping Ethiopia and beyond.
⚡ Crypto, Mining & Megawatts
Phoenix Group Expands Bitcoin Mining in Ethiopia
Who needs the Sahara when you have the GERD? UAE-based Phoenix Group is juicing up their Bitcoin operations in Ethiopia with a whopping 52MW expansion—bringing their total in the country to 132MW and globally over 500MW. Most of it is powered by Ethiopia’s renewable hydropower (thank you, Nile). By mid-2025, they’ll hit 2.4 EH/s. Translation? They’re stacking satoshis sustainably.
📱 Tech & Digital Leapfrogs
Zambia Goes “Fayda-mode” on Digital ID
Zambia is now borrowing tech homework from Ethiopia—and we’re not mad. Ethiopia’s homegrown digital ID system Fayda (already with 12M+ users) is helping people access banks, hospitals, and classrooms. Zambia wants the same magic. Maybe we should start charging royalties? Source: EBR
Halal Goes Global: Kifiya’s EFICA Spotlight
Kifiya’s Halal Gebeya just made it to the global finals of the EFICA 2025 Awards! This ethical, Sharia-compliant digital marketplace (partnered with ZamZam Bank) is making waves with ETB 217 million in Murabaha financing. Even London noticed. So yeah, fintech in Ethiopia is fasting no more. Read here
☕ Coffee, Gold & Real Assets
Ethiopia’s Coffee Exports Hit the Globe Like Caffeine on Monday
Ethiopia’s bean game is on point. ☕ The nation now exports to 90+ countries, up from 64. From Seoul to Saudi, global demand is brewing—and export revenue is hitting records. Top 10 markets now gulp 77% of volumes. Can someone say “Mocha Diplomacy”? Source: Ahadu Radio
Askari Metals Digs into Ethiopia’s Gold Belt
Australian gold-diggers (the good kind) Askari Metals just acquired Rift Valley Metals, gaining 460 sq km of shiny dreams in the Adola region. Wayu Boda, Sakaro, and friends—watch out. $200K in cash + shares later, they’re now officially golden guests in Ethiopia’s mining sector. Source: Capital Ethiopia
🛡️ Insurance & Healthcare
New Kid on the Health Block: Was Insurance SC
Less than 1% of Ethiopians are insured. Most pay out-of-pocket like it’s 1999. 💸 Enter Was Insurance SC, Ethiopia’s first dedicated medical & general insurer, backed by 70+ shareholders. With a goal to reduce financial pain (and actual pain), they’re aiming for inclusive, affordable health coverage. Finally, a plan that’s not just “take 2 pills and pray.” Source: Capital Ethiopia
Insurance Sector Preps for Regulatory Reboot
Big changes coming: Ethiopia’s insurance market is getting its own independent regulator by June 2025. Say goodbye to NBE oversight (they’re busy with banks). Capital requirements will rise by 2027, and foreign players might soon enter. It’s about time—penetration is just 0.3%. (That’s not a typo.) Read here
💵 Finance, Trade & Reform
Dashen Bank Bags $40M AfDB Trade Finance Deal
First private bank to get a $40M AfDB Guarantee Facility? That’s Dashen Bank. This trade finance boost will help importers and exporters get access to essential goods and global markets. Dashen also launched a Digital Innovation Hub with Accion and Mastercard. Someone’s been busy… Read here
Ethiopia Nears IMF Deal & Eurobond Talks
Dr. Eyob Tekalign confirms: Ethiopia is this close 🤏 to locking in the third IMF review of its $3.4B reform package. That unlocks funding by June and may pave the road for summer Eurobond restructuring talks. Ethiopia wants fair debt treatment post-default and is also cozying up to China and the U.S. for infra deals. Read here
🏘️ Real Estate & Policy Shift
Foreign Property Ownership? Ethiopia Says, “Maybe!”
In a move that could shake the cement dust off Addis, the Council of Ministers is reviewing a law that might let foreigners own property in Ethiopia. 🏢 It’s all about attracting capital, creating jobs, and developing housing—while keeping local rights protected. Gentrification in Amharic? We’ll see. Read here
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📩 Got insights? Scoop? Feedback? Send it our way — we’re all ears, except during coffee breaks.
Stay curious, stay caffeinated ☕
And as always, crush your week ahead! 🚀
— Written by the StockMarket.et Newsroom
Byeee 🙂
