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Deep Dive“Why do some Ethiopians earn 20 times more than others in the same city?” That question feels like an accusation and a confession all at once. Walk down any main street in Addis Ababa and you’ll see it: shiny cafés and new office towers standing beside neighborhoods where a day’s wages pays for a single
Capital MarketTwo major players in Ethiopia’s financial sector just shook hands on a big deal. CBE Capital Investment Bank and Nib International Bank (NIB) signed a strategic partnership to bring investment banking services straight into NIB’s growth plans. Translation: NIB gets the financial muscle and market expertise of CBE Capital as it looks to scale up
BusinessEthiopian Investment Holdings (EIH), the country’s sovereign wealth manager, continued its annual performance dialogue on day two, with updates from its hospitality, power, and engineering portfolio companies. The reviews underscored steady revenue growth in hotels, strong expansion in electricity access, and rising regional ambitions in engineering services. Hospitality SectorGhion Hotel and Spa, one of Addis
Capital MarketEthiopian Investment Holdings (EIH), the country’s sovereign wealth fund, has made its first-ever international investment by acquiring a stake in Akobo Minerals AB, a Scandinavian-based Ethiopian gold producer listed on Euronext and Frankfurt Stock Exchange. Under the agreement, EIH will subscribe to 15 million new shares at USD 0.20 each, securing a 7.4% ownership stake
EconomyThe National Bank of Ethiopia (NBE) released its second annual Financial Stability Report in November 2024, providing a comprehensive assessment of the country’s financial health up to June 2024, with additional updates through September 2024. This report builds on the findings of the April 2024 report, highlighting key developments in Ethiopia’s financial system amidst ongoing
EconomyIn an upcoming release, the International Monetary Fund (IMF) is set to publish the first evaluation report on Ethiopia’s macroeconomic reform initiative, providing insight into the progress of the country’s efforts. The IMF highlighted that Ethiopian authorities should remain vigilant in addressing potential challenges within the foreign exchange market. Alvaro Piris Chavarri, IMF Mission Chief
EconomyThe International Monetary Fund (IMF) announced the successful completion of the first review of Ethiopia’s 48-month Extended Credit Facility (ECF) arrangement. This milestone enables an immediate disbursement of approximately US$340.7 million (SDR 255.6 million) to support Ethiopia’s balance of payments needs and ongoing economic reforms. The ECF arrangement, approved by the IMF Executive Board on
