https://ethiopianbusinessreview.net/

Ethiopian Business Review, Bole Homes, Behind the Chancery of the Embassy of Argentina, Addis Ababa (2026)

Q: What is the address?

Bole Homes, Behind The Chancery Of The Embassy Of Argentina

10/08/2026

EEU Finances 80.6% of 133.59 Billion Birr Spending From Own Revenue

Aug 10, 2026

Ethiopian Electric Utility (EEU) says it financed 80.6 Percent of its 133.59 billion birr total expenditure in the 2025/26 fiscal year from its own revenue, covering its entire operational budget without government funding and relying on public funds for only two Percent of total spending.

The figures, presented by EEU CEO Getu Geremew at a media briefing last week, show that the utility relied on government funding for only 2 Percent of its total spending, while foreign grants and loans accounted for the remaining financing.

According to the utility's annual performance report, its regular operational budget, including 48.42 billion birr paid to Ethiopian Electric Power for wholesale electricity purchases, amounted to 68 billion birr. EEU covered the entire operational budget from its own revenue, exceeding its target by 3.4 Percent.

The government contributed approximately 2.67 billion birr, equivalent to 2 Percent of EEU's total expenditure, mainly for capital projects rather than day-to-day operations. Foreign grants accounted for 16.2 Percent of total spending, or approximately 21.64 billion birr, while foreign loans covered another 1.2 Percent, equivalent to around 1.60 billion birr.

At the same time, EEU paid 12.39 billion birr in taxes to the government during the year. The amount was more than four times the government's direct contribution to the utility's budget.

While EEU's financing position improved, its capital spending remained significantly below target. Capital expenditure reached 65.58 billion birr against a budget of 92.25 billion birr, representing 71 Percent of the planned amount.

The gap was particularly visible in some major infrastructure projects. The Prime-1 initiative, which is being implemented across 72 towns, had reached only 11.60 Percent completion. Meanwhile, the 10 Towns Rehabilitation project, covering Assela, Dilla, Hossana, Bishoftu and six other towns, stood at 19.04 Percent completion.

The figures point to a contrast between EEU's ability to generate revenue and its capacity to translate available financing into completed infrastructure projects. While the utility generated sufficient revenue to cover its operational requirements, the pace of capital-project implementation remained substantially below plan.

The utility's total revenue reached 118.91 billion birr in 2025/26, up 88.4 Percent from approximately 63.1 billion birr a year earlier. The increase was driven by higher energy sales, a 121 Percent increase in revenue from new connections, and greater use of digital payments, which accounted for 95.3 Percent of all transactions.

EEU also generated 14.25 million birr from electric vehicle charging stations during the year, reflecting the utility's growing involvement in emerging electricity-related services. It additionally earned 472.8 million birr from the sale of scrap from decommissioned assets, significantly exceeding its 275 million birr target.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

10/08/2026

Dangote Plans October Groundbreaking for $16bn East African Refinery in Kenya

Aug 10, 2026

Nigerian billionaire Aliko Dangote has told the BBC that he will break ground on a 700,000 barrels-per-day refinery on Kenya's Lamu coast by October, putting a firm date on a project that has been discussed for years without one. Construction is expected to begin shortly after the groundbreaking ceremony.

The plant is designed to process 700,000 barrels of crude a day, which would make it larger at nameplate than the refinery Dangote built outside Lagos, which was constructed for 650,000 barrels a day and reached that capacity in early 2026. "The plans have actually gone very far with Kenya.

By the end of October, we will be doing ground breaking. Once we break ground, we will start the construction very soon," he told the BBC in an interview.

The cost has come down. Dangote said the Kenyan project is now expected to require about $16 billion, against an earlier estimate of $17 billion. The Nigerian refinery cost around $20 billion. The project will be financed through 30 Percent equity and 70 Percent debt, with Dangote expressing confidence that the required funds can be raised.

According to Kenyan President William Ruto, the governments of the region would also invest in the planned refinery, with Kenya designating seed capital of KSh 21.5 billion towards the project.

Dangote described the project as the "East African Refinery" because of its intended regional reach, with the refinery intended to serve Kenya, Tanzania, Uganda, South Sudan, and other East African markets and reduce the region's reliance on imported refined fuel.

East Africa imports 100 Percent of its refined fuel after Kenya Petroleum Refineries Limited, the region's last operating refinery, shut down in 2013. Construction and operation are projected to create more than 60,000 jobs, making the project one of the largest in the region.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

10/08/2026

ECMA Registers 34,882 Meba Microfinance Shares Under Securities Market Rules

Aug 10, 2026

The Ethiopian Capital Market Authority (ECMA) has registered 34,388 shares of Meba Microfinance Institute S.C., including 200,000 new shares approved for offer to existing shareholders, as the microfinance institution moves further into Ethiopia's regulated securities market.

According to a notice issued by ECMA, the Authority approved Meba's Registration Statement on August 7, 2026, registering 34,388 shares already held by existing shareholders and a further 200,000 newly approved shares to be offered to existing shareholders.

The registration was conducted under Article 75 of the Capital Market Proclamation No. 1248/2021 and Articles 4 and 29 of the Public Offer and Trading of Securities Directive No. 1030/2024, which require securities offered or sold to the public to be registered with the Authority.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

10/08/2026

EEU Removes Interest on Installment Payments for New Power Connections

Aug 10, 2026

The Ethiopian Electric Utility (EEU) has removed interest charges on customers who pay for new electricity connections through its installment-based credit system, easing the upfront cost of connecting to the grid.

According to information released by the Utility, customers who previously faced interest rates of 3 to 9 percent when extending payments beyond six months will no longer be charged interest. The payment period can extend to 24 months under the credit system.

The Utility said the measure is intended to make new electricity connections more accessible to customers who cannot afford to pay the full connection fee upfront.

EEU CEO Getu Geremew said the removal of the interest charge would reduce the financial burden on customers and support the Utility’s efforts to expand electricity access.

The new meter credit system has already enabled 19,231 customers to obtain new electricity connections within two weeks of its implementation, according to the utility.

The measure comes as the EEU seeks to significantly increase the pace of grid expansion. The Utility plans to connect 1.1 million new customers during the 2026/27 fiscal year, compared with 664,505 new connections recorded in the 2025/26 fiscal year.

The installment payment system is therefore expected to help the Utility expand its customer base by allowing households and other customers to spread the cost of a new connection over time without the additional interest burden.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

10/08/2026

Siket Bank Posts 1.54 Billion Birr Pre-Tax Profit as Capital Reaches 10.3 Billion

Aug 10, 2026

Siket Bank says it posted a pre-tax profit of more than 1.54 billion Birr in the 2025/26 fiscal year, while its total capital reached 10.3 billion Birr, according to information released by the bank following its annual management meeting held on August 9, 2026.

The bank said its paid-up capital increased to 7.9 billion Birr, while deposits mobilized during the fiscal year reached 14.7 billion Birr. Total income stood at 4.1 billion Birr, according to the figures released by the bank.

Siket Bank also reported that its total assets reached 29 billion Birr during the fiscal year.

Commenting on the bank’s performance, CEO Damtew Alemayehu said the 2025/26 fiscal year had concluded successfully. He said the bank plans to strengthen its competitiveness, expand digital banking services and improve its range of customer services during the 2026/27 fiscal year.

The bank also recognized high-performing districts, branches and employees with trophies and certificates during the annual gathering.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

08/08/2026

ECMA Registers 11.67 Million Existing Hibret Bank Shares

Aug 8, 2026

The Ethiopian Capital Market Authority (ECMA) has approved the registration of 11.67 million existing shares of Hibret Bank, marking another step in the formalization of securities registration under Ethiopia’s emerging capital-market framework.

According to a notice issued by ECMA, the Authority approved Hibret Bank’s Registration Statement on August 6, 2026, and registered 11,665,497 existing shares already held by the bank’s shareholders.

The registration was made pursuant to the Capital Market Proclamation No. 1248/2021 and the Public Offer and Trading of Securities Directive No. 1030/2024, which require securities offered or sold to the public to be registered with the Authority.

However, ECMA clarified that the notice is solely intended to inform the public about the registration of the securities. It does not constitute an endorsement of any offer, an offer to sell, or a solicitation to purchase the shares.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

07/08/2026

ESX Founding CEO Tilahun Esmael Steps Down, Yodit Kassa Appointed Chief Executive

Aug 7, 2026

The Ethiopian Securities Exchange (ESX) has announced the resignation of its founding Chief Executive Officer, Tilahun Esmael Kassahun (PhD), and appointed Yodit Kassa as the new Chief Executive Officer, marking the first leadership transition since the country's first securities exchange was established.

In a statement issued on August 7, ESX said Tilahun leaves after leading the institution from its project phase through its establishment as a fully operational securities exchange. The Exchange credited him with overseeing its institutional development, governance framework, capital raising, technology platform and operational setup, as well as building relationships with regulators, shareholders, investors and development partners.

The Board of Directors said Yodit Kassa's appointment reflects continuity as the Exchange enters its next phase of development. She has been involved with ESX since its project stage, previously serving as Chief Business Officer before becoming Chief Operating Officer, where she helped lead the Exchange's operations, market development and strategic growth.

According to ESX, Yodit will oversee efforts to expand the number of listed issuers, increase investor participation, introduce new investment products and market segments, strengthen market infrastructure and support the continued development of Ethiopia's capital market.

In a separate message shared on his social media account, Tilahun described his four-and-a-half-year tenure at ESX as the greatest privilege of his professional career, saying the institution had evolved from an ambitious vision into what he called "a credible and innovative organisation." He expressed gratitude to the government, regulators, shareholders, development partners and ESX staff for their support throughout the institution-building process.

Tilahun also voiced confidence in his successor, describing Yodit as an exceptional leader who had played a central role in building the Exchange from its earliest stages. "I have every confidence that she will lead ESX to greater heights," he wrote.

Licensed by the Ethiopian Capital Market Authority (ECMA), ESX operates as Ethiopia's first organised securities exchange and serves as the country's central marketplace for equities, fixed-income securities and money market instruments.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

07/08/2026

Boeing Expands Landing Gear Support Programme to Ethiopian Airlines' 787-9 Fleet

Aug 7, 2026

Boeing says it has expanded its Landing Gear Exchange Program with Ethiopian Airlines to include the carrier's fleet of 10 Boeing 787-9 Dreamliners, extending a maintenance support arrangement designed to reduce aircraft downtime, inventory costs and supply chain risks.

In an announcement made at the Farnborough International Airshow in the United Kingdom, Boeing said the new agreement builds on Ethiopian Airlines' existing participation in the programme, which already covers 19 Boeing 787-8 aircraft. The companies also recently renewed their Tailored Parts Package agreement.

According to Boeing, the Landing Gear Exchange Program enables airlines to replace landing gear with certified, ready-to-install units from Boeing's global inventory instead of waiting for existing equipment to be overhauled. The programme also provides access to loaner landing gear and replacement parts during unexpected aircraft-on-ground (AOG) situations, helping minimise operational disruptions.

Boeing said the arrangement allows airlines to reduce inventory requirements while lowering logistics and supply chain risks by managing engineering support, spare parts and overhaul resources through its global services network.

Retta Melaku, Chief Operating Officer of Ethiopian Airlines Group, said the airline had experienced operational benefits after enrolling its Boeing 787-8 fleet in the programme and decided to extend the service to its 787-9 aircraft to improve maintenance efficiency and inventory management.

William Ampofo, Senior Vice President for Parts & Distribution and Supply Chain at Boeing Global Services, said the expanded agreement reflects the long-standing partnership between the two companies and is intended to help Ethiopian Airlines reduce downtime, improve operational efficiency and better manage maintenance across its Dreamliner fleet.

The agreement further strengthens Ethiopian Airlines' collaboration with Boeing beyond aircraft acquisition, with both companies increasingly focusing on long-term maintenance, parts support and fleet reliability as the airline continues expanding one of Africa's largest Boeing wide-body fleets.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

07/08/2026

EEU Sets Africa Connection Record, Revenue Surges 88.4% to 118.91 Billion Birr

Aug 7, 2026

Ethiopian Electric Utility connected 664,505 new customers to the national grid in the 2025/26 fiscal year, a single-year record that the institution says ranks it first among comparable utility companies across Africa while its total revenue surged 88.4 percent year-on-year to reach 118.91 billion birr, well above its 115.86 billion birr target.

The figures were presented by Getu Geremew, Chief Executive Officer of Ethiopian Electric Utility, at a media briefing held in Hyat Regency on Friday

According to the performance report, the 664,505 new connections represent a 32.5 percent increase over the 501,588 customers added in the previous 2024/25 fiscal year, and were achieved against a target of 800,000 an 83.1 percent delivery rate.

The utility brought the total number of active customers on its network to 5.88 million by the end of the fiscal year.

Of the newly connected customers, 56.8 percent were on postpaid meters and 43.2 percent on prepaid, with 9 percent of all new connections made in newly electrified rural kebeles and villages.

The revenue performance was equally striking across all income streams. Energy sales generated 76.53 billion birr against a 75.17 billion birr target, a 74.3 percent growth from the prior year, with 13.4 million USD collected from seven high-power industrial customers.

Revenue from new connections reached 39.23 billion birr against a 37.74 billion birr target, a 121 percent jump from 2024/25, reflecting the surge in new household and business hookups.

Scrap sales from non-functional assets brought in 472.8 million birr, nearly double the 275 million birr target, at 172 percent performance, the report indicated.
The utility's financial model appears increasingly self-sustaining.

According to the report, 80.6 percent of the institution's total expenditure of 133.59 billion birr was financed from its own revenue, with foreign grants covering 16.2 percent, government funding 2 percent, and foreign loans 1.2 percent.

The institution also paid 12.39 billion birr in taxes to the government and spent over 76.42 million birr on corporate social responsibility initiatives.

Digital payment adoption reached 95.3 percent of all transactions, and newly installed electric vehicle charging stations generated 14.25 million birr, a nascent but growing revenue stream tied to Ethiopia's Green Economy and Digital Ethiopia 2030 agendas.

On the infrastructure side, the utility expanded its distribution network by 13,269 kilometres, installed 6,293 new distribution transformers against a target of 4,693 achieving 134.1 percent of that target and rehabilitated 4,892 kilometres of existing network.

Major projects are advancing at varying speeds: the Addis Ababa Transmission and Distribution Rehabilitation and Upgrading Project reached 97.91 percent completion, Addis Ababa Phase 4 reached 61.12 percent, while the Prime-1 project operating across 72 towns in all regions of the country stood at 11.60 percent completion.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

07/08/2026

Anti-Corruption Authorities Arrest 99 Officials and Employees Across Three Federal Institutions

Aug 7, 2026

Ethiopia's anti-corruption authorities say 99 officials and employees from the Ministry of Labour and Skills, the Ministry of Revenues and the Ethiopian Customs Commission have been arrested on suspicion of corruption-related offences following what they described as a coordinated government operation targeting alleged corruption networks within the three institutions.

According to the authorities, 91 of the suspects were employees of the Ministry of Revenues and the Customs Commission, where investigators allege officials illegally reduced tax assessments, approved fraudulent receipts and deleted electronic records, causing significant losses to government revenue.

The authorities further alleged that the suspects used personal bank accounts, as well as accounts belonging to relatives and associates, to facilitate the movement of illicit funds.

The remaining suspects are officials and employees of the Ministry of Labour and Skills, who are accused of manipulating the country's overseas employment management system.

Authorities alleged that the suspects accepted bribes to lift suspensions imposed on recruitment agencies, issued fraudulent Certificate of Competence (COC) documents to job seekers who had not completed mandatory training, and prepared false documentation related to overseas employment procedures.

According to investigators, large sums of money were identified in bank accounts linked to several of the suspects, including deposits ranging from millions to more than 30 million Birr.

The authorities said the suspects have appeared before the Federal High Court, where investigators requested additional time to continue the investigation.

They also indicated that the anti-corruption operation is expected to continue. The allegations have not yet been tested in court, and the suspects are presumed innocent unless proven guilty.

Follow EBR for the latest business news, trends, and expert analysis:

Telegram (https://t.me/ebr_news)
Facebook (https://bit.ly/3OodjMF)
LinkedIn (https://lnkd.in/eAVk65Xv)
WhatsApp (https://bit.ly/4tH4NIR)

Ethiopian Business Review

10/08/2026

10/08/2026

10/08/2026

10/08/2026

10/08/2026

08/08/2026

07/08/2026

07/08/2026

07/08/2026

07/08/2026

Address

Telephone

Website

Alerts

Contact The Business

Shortcuts

Share

Category

Listing takedown request