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Dec 8 , 2024

Abyssinia's Forex Recovery Beams Despite Pressures on Shareholder Returns

The Bank of Abyssinia's (BoA) financial results for the fiscal year 2023/24 tell a story of growth mixed with rising costs and narrowing returns. However, a particularly notable development came from...

Nov 24 , 2024

Ahadu Bank Finds a Footing, But Policy Cloud Path to Ambition

Ahadu Bank, one of the youngest financial institutions in the market, has made a noteworthy recovery from substantial losses during its founding years, posting a net profit of 90.9 million Br in the f...

Nov 16 , 2024

Wegagen Bank Rises from the Brim as It Sails Economic Crosswinds

Wegagen Bank has staged a remarkable turnaround by nearly doubling its net profit and boosting earnings per share (EPS) in the fiscal year 2023/24. The resurgence proved the Bank's resilience after ar...

Nov 9 , 2024

Berhan Bank Makes Stunning Comeback With Soaring Profit

Berhan Bank has staged an impressive turnaround, closing the fiscal year 2023/24 with a sharp increase in profits that vindicated the effectiveness of its new management's strategic decisions. The Ban...

Nov 3 , 2024

In the Shadow of Giants, Zemen Bank Bucks the Trend

Zemen Bank, a relatively young player in the banking industry, has once again punched above its weight. A second-tier financial institution, it posted a net income of 2.5 billion Br for the 2023/2...

Oct 27 , 2024

Dashen Bank Bets on Treasury Moves to Sail Through Economic Strains

Dashen Bank's performance last year represented a marked rebound in its foreign exchange dealings, complemented by considerable revenue and asset growth. It has also capitalised on strategic investmen...

Oct 20 , 2024

Africa's Oldest Telecom Operator Rings In New Era With Partial Privatisation

Breaking a century-long state monopoly, the state-owned Ethio telecom S.C. has launched an initial public offering to sell 10pc shares to the public, hoping to raise additional equity in hundreds of m...

Oct 13 , 2024

President Taye Focuses on Economic Priorities Against Regional Conflicts

Newly appointed President Taye Atskeselassie delivered his first address to a joint session of the two legislative houses last week, laying out the focus for the fiscal year for Abiy Ahmed's (PhD) adm...

Sep 1 , 2024

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, accor...

Aug 25 , 2024

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 recentl...

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 15 , 2024

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...

Jun 8 , 2024

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 ins...

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...


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