Ethiopian Business Review

Ethiopian Business Review Ethiopian Business Review (EBR) is an English business magazine published by CHAMPiON Communications

As a magazine dedicated to promote private sector development, The Ethiopian Business Review (EBR) covers topics as diverse as Business Leadership, Entrepreneurship and Enterprise Development, Marketing Strategy, Organizational Change, Human Capital, International Trade, Finance, Tax, Customs, Public Policy, Public Sector Development, Privatization, Technology, Commercial and Legal issues.

Visa, SantimPay Financial Solution Partner to Expand Digital Payments in Ethiopia Sep 30, 2025Visa has signed a strateg...
30/09/2025

Visa, SantimPay Financial Solution Partner to Expand Digital Payments in Ethiopia

Sep 30, 2025

Visa has signed a strategic partnership with SantimPay Financial SolutionS.C. to accelerate the growth of digital payments in Ethiopia. Announced during the Visa Connect Ethiopia event in Addis Ababa, the agreement includes the rollout of 20,000 low-cost point-of-sale (POS) devices nationwide.

The initiative aims to broaden merchant acceptance, strengthen access to digital financial services, and support Ethiopia’s national digitalization strategy. By tackling device shortages and lowering costs, the partnership seeks to make POS machines more affordable and accessible, laying the groundwork for Ethiopia’s journey toward a cashless economy.

Visa’s Head of Southern and East Africa, Michael Berner, underscored Ethiopia’s economic potential and commitment to digital transformation, while SantimPay CEO Tensaye Desalegn called the agreement a milestone in overcoming one of the biggest barriers to adoption. Together, the companies will focus on financial inclusion, innovation, and collaboration with regulators to drive secure and seamless payments across the country.



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Bank of Abyssinia Reports 286 Billion Birr in Total Assets Sep 30 2025Bank of Abyssinia announced its total assets reac...
30/09/2025

Bank of Abyssinia Reports 286 Billion Birr in Total Assets

Sep 30 2025

Bank of Abyssinia announced its total assets reached 286.2 billion birr during the 2024/25 fiscal year, marking a significant 28.8% increase from the previous year. The milestone was disclosed during the bank’s 29th regular and 16th extraordinary general assembly held on Sunday.

Chairman of the Board of Directors, Mekonnen Manyazewal, reported that the bank’s total revenue grew to 39.1 billion birr, driven largely by interest income from loans. Net profit after tax stood at over 7.29 billion birr, while paid-up capital increased to 15 billion birr, up from 14.2 billion birr the previous year.

The bank's expansion reflects its ongoing investments in digital banking, branch network growth, and customer service enhancements. This performance places Bank of Abyssinia among the top performers in Ethiopia's competitive banking sector, demonstrating resilience amid broader economic reforms.

Expenses rose to 29 billion birr, with interest on deposits and employee benefits accounting for the largest shares. The bank has launched a new five-year strategic plan aimed at sustaining growth, improving competitiveness, and increasing shareholder dividends.




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Ethiopia, Bondholders Begin Restricted Talks to Restructure $1 Billion Eurobond Sep 30, 2025 Ethiopia has entered into ...
30/09/2025

Ethiopia, Bondholders Begin Restricted Talks to Restructure $1 Billion Eurobond

Sep 30, 2025

Ethiopia has entered into confidential negotiations with an international creditor committee to restructure its $1 billion defaulted Eurobond, signaling a potential breakthrough in the country's ongoing debt resolution efforts.

The restricted talks, governed by non-disclosure agreements, are taking place in Paris this week between Ethiopian government officials and bondholder representatives, Bloomberg reported, citing people familiar with the matter.

The discussions come after Ethiopia defaulted on its sole Eurobond in December 2023 and follows the rejection of last year's proposal that bondholders accept an 18% loss. The creditor committee includes major firms such as VR Capital Group Ltd., Farallon Capital Management LLC, and Morgan Stanley Investment Management.

This development follows Ethiopia's March 2025 agreement with bilateral creditors, including China and France, to restructure $8.4 billion of international debt. The current bondholder talks represent a critical next step in Ethiopia's comprehensive debt restructuring process, which is essential for stabilizing the economy and continuing its $3.4 billion International Monetary Fund program.

The market response has been positive, with the Eurobond price rising to 95.5 cents on the dollar following news of the negotiations its largest single-day increase since July 2024.



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Ethiopia Proposes to Host GCF Africa Office as Regional Dialogue Opens in Addis Ababa Sep 30, 2025Ethiopia has formally...
30/09/2025

Ethiopia Proposes to Host GCF Africa Office as Regional Dialogue Opens in Addis Ababa

Sep 30, 2025

Ethiopia has formally proposed Addis Ababa as the host city for the planned Green Climate Fund (GCF) Africa Regional Office, citing its role as the continent’s diplomatic capital. The announcement came as the GCF Regional Dialogue opened at the United Nations Economic Commission for Africa (UNECA) in Addis Ababa.

The three-day meeting, running from September 29 to October 1, 2025, has brought together more than 400 participants from 43 countries under the theme: “GCF.10: 10 Years of Climate Impact – Towards a Resilient Africa: Advancing Regional Solutions for Climate Action, Sustainable Growth, and Inclusive Development.”

Opening the dialogue, State Minister of Planning and Development Seyoum Mekonen highlighted Ethiopia’s climate ambition, pointing to the Grand Ethiopian Renaissance Dam’s 5,150 MW clean energy output and the Green Legacy Initiative as examples of sustainable growth. Delegates were also urged to build on outcomes from the Second Africa Climate Summit, while GCF and UNECA officials stressed shifting global climate finance from “aid” to “investment.”



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Sewit Ahderom Appointed as Mastercard Foundation CEO, First Woman to Lead Global Philanthropy Sep 30, 2025The Masterca...
30/09/2025

Sewit Ahderom Appointed as Mastercard Foundation CEO, First Woman to Lead Global Philanthropy

Sep 30, 2025

The Mastercard Foundation has named Sewit Ahderom as its next President and CEO, making her the first woman to lead one of the world's largest philanthropic organizations. Sewit, a seasoned technology executive and co-founder of Gro Intelligence, will assume the role on January 1, 2026, succeeding Reeta Roy.

Currently serving on the Foundation's Board of Directors, Sewit brings extensive experience in technology, finance, and African development. Her background includes leadership roles at Helios Investment Partners , Citigroup Alternative Investments LLC banking division, and the Aga Khan Development Network.

Sewit expressed honor in serving the Foundation's mission, stating she will build on Roy's legacy of partnership and purpose. She emphasized her commitment to listening to young people, staff, and partners to drive meaningful change across Africa and Indigenous communities in Canada.

The Foundation's current strategies Young Africa Works and Canada's EleV Program have already equipped 66 million people with skills and enabled nearly 18 million young people to access work opportunities. Sewit's appointment signals continued focus on these initiatives while bringing technological innovation to address humanitarian challenges.



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Ethiopia, Italy Seal $4.8m Hospital Support Deal Sep 29, 2025Ethiopia and Italy have signed a $4.8 million agreement ai...
29/09/2025

Ethiopia, Italy Seal $4.8m Hospital Support Deal

Sep 29, 2025

Ethiopia and Italy have signed a $4.8 million agreement aimed at improving healthcare delivery in and hospitals. The accord reflects the two countries’ ongoing cooperation in resilience, recovery, and development.

The agreement was signed by Ethiopia’s Minister of Finance, Ahmed Shide, and Italian Ambassador Agostino Palese. During the signing, Ahmed Shide emphasized the project’s importance for communities in Tigray and Amhara, regions that have endured conflict, displacement, and disruptions to basic services. He said the investment will help restore access to maternal care, child health services, and treatment for displaced populations, potentially benefiting more than 15 million people.

The hospital initiative is part of the broader Ethio Italian Cooperation Framework, valued at $293 million, which combines about $246 million in soft loans and $47 million in grants. Beyond healthcare, the framework supports agriculture, renewable energy, education, culture, and post-conflict recovery, highlighting Italy’s long-standing role as a partner in Ethiopia’s development.



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NBE Raises Credit Cap from 18% to 24%, Defying Expectations of Total Removal Sep 29, 2025In a move that sent shockwave...
29/09/2025

NBE Raises Credit Cap from 18% to 24%, Defying Expectations of Total Removal

Sep 29, 2025

In a move that sent shockwaves through Ethiopia's financial sector late this evening, the NBE-National Bank of Ethiopia announced a modest increase in the credit cap, raising it from 18% to 24%. This decision comes as a stunning blow to businesses and commercial banks, who were bracing for — and widely anticipating — the total removal of the restrictive policy.

The heightened anticipation was fueled by the recent appointment of Eyob Tekalign Tolina (PhD) as the new NBE Governor. Eyob had been a vocal proponent for lifting the cap entirely in recent months, signalling a potential shift in the government's economic agenda toward liberalisation. The policy, initially instituted by his predecessor, Mamo Mihretu, was a core strategy to combat runaway inflation, a persistent and crippling issue in Ethiopia.

Since the cap's introduction, inflation, while still high, has shown signs of softening, a result the Monetary Policy Committee (MPC) is keen to preserve.

The MPC, in its statement, firmly stressed that the ceiling remains a key tool for safeguarding financial stability and maintaining a tight monetary policy stance. They contend that "Sustaining the momentum achieved in curbing inflation will require keeping the credit cap." This continued restriction, however, hits exporters and manufacturers particularly hard. By limiting the growth of loan portfolios, the cap starves these productive sectors of the necessary working capital and investment funds required for expansion and competitiveness. This stifled credit access ultimately impedes the overall performance of the economy, constraining job creation and hindering Ethiopia's capacity to earn foreign currency.

Despite the disappointment, the MPC's hint to "revise its decision in forthcoming meetings" offers a slim hope that the complete removal remains on the table.



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Ethio Engineering, Omo Addis Agriplatform Partner to Boost Cassava Production Sep 29, 2025Ethio Engineering Group and O...
29/09/2025

Ethio Engineering, Omo Addis Agriplatform Partner to Boost Cassava Production

Sep 29, 2025

Ethio Engineering Group and Omo Addis Agriplatform have signed a memorandum of understanding to collaborate on expanding and modernizing cassava production in Ethiopia. The agreement aims to enhance agricultural productivity, support farmers, and increase foreign exchange earnings.

Under the agreement, Ethio Engineering Group will supply agricultural machinery and land preparation equipment to cassava farmers and investors. Omo Addis Agriplatform will focus on organizing farmers, coordinating financing, and facilitating market access for cassava products.

The partnership emphasizes food security, farmer livelihoods, and the promotion of cassava as a viable crop for both domestic consumption and export. Ethio Engineering Group CEO Shegaw Mulugeta and Omo Addis Agriplatform CEO Kassahun Admasu formalized the agreement, committing to close cooperation under top management oversight.



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National Bank Holds Interest Rate at 15%, Adjusts Credit Growth Target Sep 29, 2025The National Bank of Ethiopia (NBE)...
29/09/2025

National Bank Holds Interest Rate at 15%, Adjusts Credit Growth Target

Sep 29, 2025

The National Bank of Ethiopia (NBE) has maintained its benchmark interest rate at 15%, reinforcing its commitment to curbing inflation despite recent economic gains. The decision, announced after the fourth Monetary Policy Committee meeting, reflects a continued tight monetary stance aimed at achieving single-digit inflation.

While acknowledging a "continued downward trend" in inflation with the rate falling to 13.6% in August 2025 the Committee emphasized that the figure remains above the medium-term target. In a notable shift, the NBE raised the credit growth target for banks from 18% to 24% for the 2025/26 fiscal year, signaling a cautious move toward modernizing monetary policy without fully abandoning credit controls.

The Committee highlighted strong economic performance in agriculture, industry, and exports, alongside a sustained current account surplus following the July 2024 foreign exchange reform. However, it deemed a full removal of the credit cap "imprudent" at this stage, balancing growth incentives with inflation risks.

All other key rates, including the Standing Lending Facility and reserve requirements, remain unchanged. The NBE will continue using market-based tools to manage liquidity, with the next policy review scheduled for December 2025.



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Ministry of transport and logistics Signs Green Mobility MoU with Two Universities Sep 29, 2025The Ministry of Transpor...
29/09/2025

Ministry of transport and logistics Signs Green Mobility MoU with Two Universities

Sep 29, 2025

The Ministry of Transport and Logistics has signed a memorandum of understanding with Adama Science and Technology University and Debre berhan University to collaborate on green mobility and electric vehicle development.

The agreement, signed by Minister Alemu Sime and university presidents Lemi Guta Enyadene(PhD) and Asmare Melese(PhD), aims to strengthen research, infrastructure development, and public awareness around electric transportation. The partnership will focus on battery management, vehicle standards, human resource development, and community engagement.

State Minister Bareo Hassen highlighted the importance of academic collaboration in advancing Ethiopia’s green transport agenda and maintaining regional leadership in sustainable mobility. Both universities expressed commitment to supporting national efforts through research and innovation.




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Ethiopia Faces $257–$397B Funding Gap for Development Priorities Sep 29, 2025Ethiopia will need between $257 billion an...
29/09/2025

Ethiopia Faces $257–$397B Funding Gap for Development Priorities

Sep 29, 2025

Ethiopia will need between $257 billion and $397 billion over the next seven years to achieve its national development priorities, alongside a $252.8 billion climate finance gap by 2030. The figures were highlighted at the Ethiopia Impact Dialogue, which examined the country’s investment landscape.

Organized by UNDP’s Innovative Finance Lab, Ethiopian Investment Holdings, Social Enterprise Ethiopia, GSG Impact, and ACE Advisors, the Dialogue revealed a severe financing bottleneck. Out of an estimated 800,000 MSMEs, only about 130,000 access credit, leaving a $4.2 billion gap. Impact-aligned investment demand is high, with $300–$500 million sought in the past five years.

The report noted Ethiopia lags far behind regional peers like Kenya, which has 136+ impact funds and $240 million in committed capital, while Ethiopia counts only a few funds and fewer than 15 active Private Equity (PE) and Venture Capital (VC) players. Startups have raised just $95 million in five years, with most capital supplied by Development Finance Institutions (DFIs)—led by IFC’s $605 million commitment in FY2025.



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CBE Launches Diaspora Engagement Campaign in South Africa Sep 28, 2025The Commercial Bank of Ethiopia (CBE), led by Pre...
28/09/2025

CBE Launches Diaspora Engagement Campaign in South Africa

Sep 28, 2025

The Commercial Bank of Ethiopia (CBE), led by President Abe Sano, has launched a major remittance campaign across South Africa to engage with the Ethiopian diaspora and strengthen formal money transfer channels.

The initiative targets cities including Johannesburg, Pretoria, and Cape Town, home to over 500,000 Ethiopians.

The campaign includes community meetings and discussions with business leaders, aiming to build trust in CBE’s services and increase the use of official remittance pathways.

CBE executives highlighted that facilitating secure, low-cost remittances remains a key priority, especially as informal channels continue to pose risks related to cost, delay, and transparency.



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