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Dec 2 , 2023

Abyssinia Bank Bucks Economic Headwinds with Profit Surge

The Bank of Abyssinia's strategic focus on interest income has yielded notable results in the fiscal year 2022/23, placing it in a robust position, second only to Awash International Bank in profitabi...

Nov 25 , 2023

Abay Bank Leaps in Profit Defying Liquidity Hurdles

Abay Bank has reported a substantial surge in net profits, reaching an impressive 1.55 billion Br for the fiscal year 2022/23. This significant growth course stands out in an industry often dominated...

Nov 11 , 2023

ZamZam Bank Charts Historic Turnaround in Islamic Finance

ZamZam Bank S.C., the pioneering Islamic financial institution, has charted a course from turbulent financial waters to profitability, marking a significant turnaround in its operations. Revealed duri...

Jul 1 , 2023

Hijra Bank Navigates Early Turbulence in Budding Financial Frontier

The nascent Islamic banking sector is facing a steep uphill climb as its newest entrants grapple with substantial first-year operating losses. Among these, Hijra Bank, one of the country's first fully...

Jun 24 , 2023

ZamZam Eyes Potent Resilience, Growth in Untapped Market Defying Initial Losses

In Ethiopia's nascent and somewhat turbulent Islamic banking industry, a narrative of daring ambition, loss and potential resilience unfolds. ZamZam Bank, Ethiopia's first full-service Islamic bank...

May 6 , 2023

Abay Insurance Flourishes Amidst Currency Woes, Rising Costs

Abay Insurance's upswing in profit and impressive earnings per share (EPS) growth last year was marked by foreign currency shortages, rising costs and violent conflicts affecting the industry. The com...

Apr 22 , 2023

Addis Bank Leaps Forward in Assets and Deposits, Yet Grapples with Profitability and Digital Adoptation

Addis International Bank (AdIB) has demonstrated considerable growth in assets, high-interest margins, and deposit growth during its operation in the fiscal year 2021/22. However, it lagged behind its...

Mar 4 , 2023

Inflation, Tax Woes Plague Breweries, Price Hike Brewing

Local breweries have increased wholesale beer prices for the third time in three years as galloping inflation and a global economy in recession take their toll. The price of a crate has shown a 10p...

Fed Seals Costly Fertiliser Deal, Demand Remains Unmet

An Abu Dhabi-based firm has agreed to supply half a million tonnes of urea to Ethiopia following months of negotiations between federal authorities and executives of FertiGlobe. It was a delicate p...

Apr 9 , 2022

Flower Exporters Grumble Over Changing Rules, Revised Floor Prices

Ethiopia's central bank has set a threshold price for the exports of fresh-cut flowers to the dismay of the companies and their managers, who warn that higher floor prices could imperil competitivenes...

Supplementary Budget Raises Worries Over Deficit Financing

Members of parliament have voted in favour of a record-high supplementary budget bill Prime Minister Abiy Ahmed's (PhD) administration motioned last month. The bill met objections from nine of the 30...

Jan 15 , 2022

Central Bank 'Only Option' Leaves Exporters Fuming

As the central bank slashes foreign currency retention rates by half to 20pc, exporters are decrying the move as detrimental to their businesses and warn a fall in foreign exchange revenues is inevita...

Jan 1 , 2022

Ethiopia's Dilemma in Europe Trade Deal

Efforts to enrol in an Economic Partnership Agreement (EPA), a multilateral trade link with the European Union (EU) negotiated with African, Caribbean and Pacific countries, await government decisions...

Dec 11 , 2021

Fuel Subsidy Scale Back Drives Record-High Prices at Pumping Stations

Federal authorities increased prices on various fuel products last week, making a record-high jump never seen before in pumping stations. As the news made its rounds that benzene and diesel would s...

Dec 4 , 2021

No Law Undermines Farmland Certification Benefits, Access to Finance

A registration for over 72,000 parcels of farmland in the Southern Regional State was completed recently, paving the way for the second-level land certification programme that first appeared in the re...

Nov 20 , 2021

Mobile Money or Card Payment? The Jury's Still Out

Nassir Alemayehu runs a retail shop in Merkato. He was one of the first clients to enrol three months ago as a merchant on Telebirr. A mobile payment platform launched earlier this year by the state-o...


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