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ZamZam Bank Blazes Past 1B Br Profit, Sets Sights on Africa Lead

Jul 27 , 2025

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ZamZam Bank wrapped up its 2024/25 performance review with a headline-grabbing 764pc leap in pre-tax profits, reaching 1.3 billion Br. Total revenues topped 2.2 billion Br, while earnings per share climbed by 43pc. Assets grew to 16.6 billion Br, backed by a deposit base that hit 12 billion Br. The fully Sharia-compliant bank is also making strides internationally, securing 64.4 million dollars in foreign currency and pushing its branch count past 100. Its digital microfinance arm, Ansar Digital Financing, channelled over 115 million Br to women-led MSMEs. Board Chairperson Nasir Dino (PhD) reiterated ZamZam’s long-game target, becoming Africa’s top Sharia-compliant bank by 2030. High-performing staff, districts, and branches walked away with awards and bonuses, in a show of appreciation that

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Somali Region Advances Budget Independence as Revenues Rise

Somali Regional State is moving closer to fiscal independence, with nearly half its budget now funded locally. Officials point to rising agricultural output and stronger tax enforcement as key drivers behind growing revenues. The region plans to cover 32.5 billion Br from its own resources in the upcoming fiscal year. Communication Head Mohammed Abdi credited last year's tax collection of 18 billion Br, exceeding the 17 billion Br target, to agriculture, khat, and other taxable goods. The reg...

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Environmental Protection Authority Shuts Down Polluters

Addis Abeba's Environmental Protection Authority (EPA) has taken enforcement action against 3,249 manufacturers and service providers found violating environmental standards in the 2024/25 fiscal year. The violations, ranging from air and noise pollution to improper waste disposal, were identified during inspections of 14,872 businesses citywide. Penalties included warnings and closures, with shutdown orders issued to six plastic factories, 23 block factories, a soft paper plant, 102 nightclu...

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Ministry Mandates Full Electronic Clearance for Top Taxpayers

Taxpayers under the Ministry of Revenues' Medium No. 1 branch will have to ditch paper filings and switch entirely to the e-Clearance system for non-audited services starting August 1, 2025. The mandate, routed through the Ministry's e-filing portal, is pitched as part of a broader push to modernise tax administration and advance the government's digital agenda. Officials say the platform lets users process clearance requests remotely via the Fayda national ID, cutting out manual paperwork. A...

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