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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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Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses today, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payments. The bank...

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Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...

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Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...

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