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Sep 1 , 2024 . By AKSAH ITALO

Reforms, Economic Stability Key to Capital Market's Future: Study Finds

The capital market is expected to see substantial growth in size and investment over the next four years, contingent on favourable macroeconomic conditions and successful policy implementations, according to a market size estimation study published by the Ethiopian Capital Market Authority (ECMA). T...

Aug 25 , 2024 . By TIZITA SHEWAFERAW

Communications Authority Kicks Off Data Registry Entities

Federal institutions, schools, civil society organisations, and other entities that collect personal data are required to register with the Ethiopian Communications Authority (ECA). Parliament recently passed a law protecting personal data, mandating the federal government to safeguard citizens' privacy rights in an increasingly digital world. Ratified four months ago, the law imposes a broad range of obligations on data controllers who determine the purpose and means of processing personal data. These controllers are mandated to collect personal information only for "specified, explicit, a...


Jun 15 , 2024 . By BERSABEH GEBRE

Stellar Year for Nile Insurance with Its Assets Booming

Nile Insurance's financial year concluded on a high note, posting an impressive performance, with premium collections exceeding industry averages and delivering substantial returns to its shareholders. The firm posted a 51pc surge in net profit, reaching 298.3 million Br, positioning itself firmly between its peers: United and Nyala insurance companies. Under the managment of Nigus Anteneh, its chief executive officer (CEO), the firm attributed its success to soaring premium revenues, headed claim expenses, and robust investment income. Despite facing inflation-driven claim costs and fierce...


Jun 8 , 2024 . By BERSABEH GEBRE

Global Insurance's Pioneering Sharia-Compliant Bet Pays Off

Global Insurance has demonstrated commendable growth, attributed to a strategic shift towards underserved markets in the financial year 2023/24. The company's venture into Takaful offerings — an insurance system compliant with Sharia law — positioned it as a pioneer in the interest-free sector. Though it still shares a small part of the overall market, Global Insurance's Takaful business has captured the largest market share in this niche area. The Takaful business, which allows members to pool funds to cover each other's losses, reported a modest share of 127 million Br, representing ...

News analysis

Aug 4 , 2024

FLOATING BIRR, FLEETING FORTUNE

For decades, the Birr stood as a symbol of national economic policy sovereignty. However, its foundations have pulverised under a persistent axis of pressures: inflation, forex crunch and a widening b...

Jul 28 , 2024

Soaring Costs, Security Threats Cripple Alcohol Producers

Alcohol manufacturers including the known Balezaf and National alcohol brands are entangled in a web of macroeconomic and external pressures that have plagued their industry. Substantial price surges...

Jul 7 , 2024

Banks Rush to Meet Credit Exposure Regulations Ahead of Deadline

Banks are scrambling to comply with new credit exposure regulations as the National Bank of Ethiopia's (NBE) 90- day action plan submission deadline approaches. Among the five directives approved by t...

Jun 1 , 2024

Insecurity Undermines Growth as Africa Seeks to Face Global Credit Bias

The African Development Bank (AfDB) President revealed his greatest concern about proliferating insecurity across Africa. His candid admission came amidst discussions of a groundbreaking proposal by K...

May 25 , 2024

Nib Insurance Breaks Billion Barriers Among Industry Titans, Despite Turbulence

Nib Insurance has carved out a space between industry giants and new entrants in the competitive insurance market. The past year marked a major chapter in its 22-year history as the company surpassed...

May 18 , 2024

Nyala Insurance Thrives Despite a Storm of Claims, Regulations

In a year marked by remarkable growth, Nyala Insurance surged ahead, buoyed by impressive gains in investment income and life insurance. While navigating fierce industry competition and regulatory con...

May 4 , 2024

Diverse Investments Pay Off for United Insurance Outpacing Rivals with Stellar Profit Jump

United Insurance has emerged as a powerhouse in the private insurance industry, boasting a notable surge in net profits, making it second only to Awash Insurance. The robust financial performance was...

Apr 20 , 2024

Awash Insurance Dominates with Profit Surge, Even as the Economic Tide Turns

Awash Insurance consolidated its lead in the private insurance sector last year, registering vigorous profit growth that eclipsed its competitors — United Insurance, Nyala, and Oromia. Despite a cha...

Apr 13 , 2024

Confronted by Early Losses, Ahadu Bank Charges Ahead with Aggressive Growth, Digital Focus

In a period marked by industry expansion and ambitious regulation in the financial sector, Ahadu Bank, among the industry's latest entrants, has embarked on a course characterised by transformative po...

Mar 23 , 2024

CAUGHT IN THE MAELSTROM:Businesses Swept Away by Surging Costs

Three weeks ago, Mintesinot Lemma, the general manager of Mintu Plast Plastic Raw Materials Production Plc, imported 22 shipping containers of plastic raw materials from Oman. What should have been a...

Mar 23 , 2024

Hijra Bank's Leap of Faith Pays Off

Hijra Bank has overcome its founding year losses, marking a notable turnaround in the nascent interest-free banking industry. The Bank reported a net profit of 27.8 million Br in its 2022/23 operation...

Mar 16 , 2024

Addis Bank's High Hopes, Low Forex, and the Elusive Quest for Lofty Profit

Despite notable gains in loan interest and investment returns, Addis International (Addis Bank) executives have struggled with a substantial reduction in foreign exchange income, which cast a long sha...

Mar 9 , 2024

Bunna Bank Jogs Past Some, Stumbling Over Shareholder Returns

In its latest fiscal year performance, Bunna Bank joined a hoard of competitors in posting a rise in net profits, positioning it as a noteworthy contender within the banking industry. However, its fin...

Mar 9 , 2024

Ethiopia's Power Play: A Lucrative Deal or Risky Gamble on Crypto Mining?

Ethiopia is venturing into plans to sale power  to over two dozen data mining companies. This move has ignited a discussion between key industry players and keen observers on the potential benefits a...

Mar 2 , 2024

Enat Bank's Modest Size Among Titans Searching for Its Sling

Enat Bank has not only held its ground but has also surged ahead, marking a notable achievement in its performance over the 2022/23 operating year. In an industry where competition is fierce, and ever...

Rebranded Global Bank Ethiopia Doubles Profit in Liquidity Tussles

In a move that marks a year of transformation, Global Bank Ethiopia, formerly known as Debub Global Bank, has embarked on an ambitious course to redefine its corporate identity and boost its market pr...


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Birr's Unmoored Descent Threatens to Drown an Economy Awash in Debt

Not long ago, the sight of exchange bureaus in Addis Abeba was as rare as a cloudless day...

Editorial | Oct 5 , 2024

Beyond Borders Ethiopians' Journey to Healing

Nine months ago, Worku Hailu found himself in India, thousands of kilometres from home, un...

Featured | Oct 6 , 2024 . By HAWI LEGESSE

Addis Abeba University's Autonomy Shuts the Door on Brightest Minds

For as long as he could remember, 18-year-old Menase Samuel had dreamed of studying softwa...

Agenda | Oct 6 , 2024 . By BEZAWIT HULUAGER

TRADITION COLOURS CITY'S EVOLVING PULSE

On Saturday, October 5, 2024, Mesqel Square transformed into a vibrant venue for colour an...

Fortune News | Oct 6 , 2024

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