Lion Insurance Joins Exchange Investment Pool

Apr 1 , 2024


[ssba-buttons]

Lion Insurance Company S.C. has joined the growing roster of investors in the Ethiopian Securities Exchange (ESX), marking a pivotal shift for the insurance industry. The company signed a deal to acquire a 10 million Br stake in the ESX, following in the footsteps of Zemen and Hibret Insurance who invested 20 million Br and 30 million Br respectively. The signing ceremony saw Abraham Mersha, CEO of Lion andTilahun Kassahun, CEO of ESX. This investment by Lion Insurance demonstrates the confidence of the insurance industry in the future of the ESX. It is a crucial step towards finalising ESX's capital raise, marking a significant moment for Ethiopia's capital market launch.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...