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Aug 11 , 2025

EIH Acquires $3M Stake in Akobo Minerals

Ethiopian Investment Holdings (EIH), the sovereign wealth fund managing over 40 state-owned enterprises, has acquired a 7.4pc stake in the Scandinavian-based gold producer, Akobo Minerals AB, marking its first-ever overseas investment. The three million dollars deal was executed through a private...

Aug 7 , 2025

Electric Power Reports Tripled Revenue as GERD Energizes Grid

The Ethiopian Electric Power (EEP), the state-owned power generation company, has posted a record 75.4 billion Br in revenues for the 2024/25 fiscal year, nearly three times higher than the 27 billion Br recorded in the preceding year. The surge was driven by a dramatic increase in electricity generation, led by the operationalisation of the Grand Ethiopian Renaissance Dam (GERD), and a strong uptick in regional power exports. Out of the total revenue, 74 billion Br came from electricity sales, while 1.4 billion Br was generated from associated services. Foreign exchange earnings climbed to...


Aug 6 , 2025

Birr Sinks to Record Low as Central Bank Posts 138.25 Br to a Dollar

The Central Bank has posted the Birr to a record low in its latest foreign currency auction, allocating 150 million dollars, the highest amount since forex auctions began in August this year. No less than 28 banks bid at a weighted average rate of 138.25 Br to a dollar, the weakest rate recorded in the National Bank of Ethiopia's (NBE) bi-monthly auctions. Held today, August, 5, 2025, the new rate marks a notable depreciation from 136.63 Br at the previous auction on June 19, and from the 133 Br level in mid-May, extending a downward trend that analysts link to soaring import bills and elev...


Aug 6 , 2025

Central Bank Approves Negusu Gebregziabher as Hibret Bank’s President

The National Bank of Ethiopia (NBE) has approved the appointment of Negusu Gebregziabher as president of Hibret Bank, after his recent nomination by the Board of Directors. Negusu previously served as a senior advisor to the president of the Bank of Abyssinia (BoA). His extensive experience in the banking industry spans over two decades, including senior leadership positions at the state-owned Commercial Bank of Ethiopia (CBE) and a presidency at Lion International Bank (LIB) from 2011 to 2014. Negusu's latest appointment follows regulators directive to Hibret Bank's newly formed board i...

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Aug 5 , 2025

A Microfinance Declared Bankruptcy, Failing to Meet Capital Requirement

A microfinance enterprises operational since 2004 in Dila, South Ethiopia Regional State, has been declared bankrupt due to non-compliance with the minimum paid-up capital requirement. One Microfinanc...

Aug 5 , 2025

Ethiopian Airlines Soars with $7.6B Revenue Despite Domestic Losses

The Ethiopian Airlines Group (EAG) has posted a robust revenue performance of 7.6 billion dollars for the 2024/25 fiscal year, an eight percent increase year-on-year, propelled by growing demand in in...

Jul 30 , 2025

Ethio Fidelity Breaks Ground as First Dealer Licensed by ECMA

Ethio Fidelity Securities S.C. secured its trading member license today, July 30, 2025, becoming the first independently established dealer to attain full membership on the Ethiopian Securities Exchan...

Jul 24 , 2025

Ethio telecom Posts 162B Br Revenue, Misses Forex Target

Ethio telecom has posted 162 billion Br in revenues for the 2024/25 fiscal year, representi g a 73pc increase from the previous year. The company posted a yet to be audited gross profit of 76 billion...

Jul 24 , 2025

Hibret Bank Nominates Former Lion Bank Chief as President

Board directors of Hibret Bank have nominated Negusu Gebregziabher, now serving as a senior advisor to the Bank of Abyssinia's president, as a president, pending regulatory approval from the National...

Jul 23 , 2025

Finance Ministry Offers 11.08Bn Br T-bills in First Auction

The Ministry of Finance will conduct its first Treasury-bill auction today, July 23, under a newly published issuance calendar. The auction offers 11.08 billion Br worth T-bills across four maturities...

Jul 21 , 2025

CBE Revises Forex Rates, Aligns Dollar Rate with Central Bank

The Commercial Bank of Ethiopia (CBE) ended a three-month standstill in its foreign exchange pricing today, July 21, 2025, lifting its dollar rates in a move that brought the state-owned giant back in...

Jul 15 , 2025

Heineken Launches 39M Br Community Projects in Bedele Town

Heineken Ethiopia Plc has inaugurated community development projects worth 39 million Br in Bedele town last week, as part of its corporate social responsibility drive. The brewery, located in Bede...


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