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ZamZam Bank Strikes a Pact to Digitise Pilgrimage Packages


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ZamZam Bank struck a deal with Link All Technology S.C. for a product that links to travel agencies and hotel bookings during travels to Saudi Arabia last week. Dubbed Guzo le-Umrah, the product is expected to assist customers who have saved in Mudarabha Hajj & Umrah accounts to facilitate pilgrimage arrangements. Kedir Bedewi, the vice president of the Bank, pointed out that the expansion of branches has to go in tandem with digital banking to warrant operational efficiency. Over 400,000 people from Ethiopia are estimated to yearly partake in the journey to Mecca in Saudi Arabia. Yenus Abdi, the CEO of the tech Company, and Melkia Bedri, president of the Bank, signed the memorandum of understanding at the Al-Nahari Hotel, Ethio-China Street.


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Tariff Reform Powers EEP Revenue to 119 Billion Br

Ethiopian Electric Power (EEP) collected 119 billion Br in revenue during the 2025-2026 fiscal year, up 57.8pc from the previous year, while recording a gross profit of 39.5 billion Br. The performance comes as EEP faces public scrutiny over a multi-year electricity tariff reform. EEP achieved 92pc of its 129.8 billion Br revenue target. It attributed the performance to improved revenue collection systems and better coordination, following a period in which the utility operated at a significa...


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ESX Names Yodit Kassa CEO in Leadership Handover

The Ethiopian Securities Exchange (ESX) said on August 7, 2026, that its founding Chief Executive Officer, Tilahun Esmael (PhD), had been replaced by the Chief Operating Officer, Yodit Kassa. ESX credited Tilahun with steering the Exchange from its early project phase into a fully operational securities market. He established its governance, technological and operational foundations while building relationships with regulators, investors and other stakeholders. Yodit and Tilahun have been...


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Enat Bank Enlists Partners to Develop Gender Bond

Enat Bank has entered a four-party partnership to develop what the partners describe as Ethiopia's first private-sector gender bond. The bank signed a memorandum of understanding with FSD Ethiopia, I-Capital Africa Institute and FSD Africa to structure and launch the bond. The partners will collaborate throughout the pre-issuance and post-issuance phases. Their work will cover transaction structuring, framework development, regulatory compliance, investor engagement and post-issuance manageme...