Insurtech Accelerator Spreads its Wings


Aspiring to improve Ethiopia's insurance penetration rate from less than one percent, an initiative for technical expertise and regulatory support was launched last week. Following a lengthy process, 11 startups and four insurance companies (Nyala, Hibret, Nib and Tsheay) were selected to participate in the accelerator program dubbed BimaLab Ethiopia Insurtech Accelerator. Financed by the Bill and Melinda Gates Association, the program run under Financial Sector Deepening Ethiopia (FSDE) was launched last week at the Sheraton Hotel (Taitu St). Martha Hailemariam, a senior advisor at the National Bank of Ethiopia (NBE), hopes the program helps make significant improvements in providing access to insurance in Ethiopia's agricultural sector. BimaLab has previously supported 63 insurance technology companies and the development of 43 insurance products while raising 10 million dollars to further insurance access across 10 African countries. These efforts have resulted in the formation of 20 strategic partnerships reaching over three million customers across the continent. Abel Tadele, lead of the Financial Inclusion Pillar at FSDE, expressed hopes of BimaLab helping to improve and promote a sustainable financial and insurance sector in Ethiopia.


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Ethio Telecom Launches New Marketplace with Cash-Back Guarantee

Ethio Telecom has launched Zemen Gebeya, a nationwide digital marketplace integrated into the telebirr SuperApp, offering a secure platform for consumers and businesses to trade goods and services. The platform includes a built-in escrow service, allowing payments to be held temporarily until the buyer confirms delivery. If a product is not delivered or the buyer is dissatisfied, the payment is returned—creating a cash-back guarantee model designed to build trust in online transactions. Lau...


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Ethiopia-Israel Business Forum Opens Doors to Investment Opportunities

The Ethiopia-Israel Business Forum took place last week at the Hyatt Regency Addis Abeba, bringing together Ethiopian government officials and investors from Israel. Officials presented a range of investment opportunities, while Israeli investors expressed interest in entering the market. The forum opened with remarks from the foreign ministers. Gedion Timotheos, Ethiopia's Minister of Foreign Affairs, used his address to extend a formal invitation to the Israeli business community, stressing...


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National Bank Injects Millions Through Foreign Currency Auction

The National Bank of Ethiopia (NBE) is continuing its push to stabilise the foreign exchange market, injecting millions of dollarss into the economy through a series of currency auctions. According to official data, the latest auction was held on May 7, 2025, during which 60 million dollars was supplied to 16 participating banks at an average exchange rate of 132.9643 Br per dollar. In the previous month, the NBE held two auctions: 70 million dollars was offered on April 16 to 26 banks at an...