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Capital MarketEthiopia’s state-owned power distributor earned 33.65 billion birr in the first four months of the fiscal year, the company’s chief executive said, supported by strong energy sales and rising customer connections. Getu Geremew, CEO of the Ethiopian Electric Utility, told Fana Digital that the utility achieved 97% of its 33.72 billion birr revenue target for
Capital MarketEthiopia’s nascent capital markets received a boost on Thursday as investment bank Wegagen Capital Investment Bank S.C. (WCIB) announced the successful completion of a prospectus for Hibret Bank S.C., a key step ahead of submitting the document to the Ethiopian Capital Market Authority (ECMA). In a statement, WCIB said it had been appointed by Hibret
Capital MarketEthiopia’s capital market regulator has introduced two new regulatory frameworks aimed at bolstering anti-money laundering and counter-terrorism financing (AML/CFT) compliance across the country’s emerging capital market. The Ethiopian Capital Market Authority (ECMA) said the new Customer Due Diligence (CDD) and Reporting Guideline and the AML/CFT Compliance Training Regime are designed to promote transparency, accountability, and
BusinessAwash Insurance S.A. has made history by becoming the first private insurer in Ethiopia to record a pre-tax profit surpassing 1 billion birr—a milestone marking its 31st consecutive year of profitability. At its 31st Annual General Meeting held on October 22, 2025, the company announced a 27% increase in gross profit compared to the previous
Capital MarketThe Ethiopian Capital Market Authority (ECMA) has officially issued a Capital Market Service Provider (CMSP) license to ProInvest Capital PLC, authorizing the firm to operate as a Securities Investment Advisor. With this approval, the total number of licensed CMSPs in Ethiopia rises to twelve (12) — a clear sign of the market’s rapid expansion and
Capital MarketEthiopia’s Capital Market Authority (ECMA) has issued new Supervision Guidelines aimed at enhancing transparency, investor protection, and market integrity as the country moves to establish a modern capital market. The guidelines, dated October 2025, apply to a broad range of participants, including securities and derivatives exchanges, over-the-counter (OTC) markets, securities depository and clearing companies (SDCCs),
Capital MarketCBE Capital has signed separate investment banking agreements with Waliif Investment and Trade S.C. and Hibret Insurance, expanding its role in Ethiopia’s emerging capital market. The deal with Waliif Investment, a diversified company active in agriculture, manufacturing and other sectors, will support the firm’s efforts to reduce import dependence, expand value-added exports and boost foreign
Capital MarketThe Ethiopian Securities Exchange (ESX) is aiming to list nine companies within this year of operation, according to its CEO, who emphasized that priority sectors include banking and financial institutions. In the event that some firms are not yet ready for full exchange listing, the ESX plans to utilize the Over-the-Counter (OTC) market as an
Capital MarketWhen Ethiopia’s financial sector began its long-awaited reform journey, few areas held as much transformative promise as investment banking. The Enkopa Summit this year was more than a platform for financial dialogue — it was a window into a new era, one in which Ethiopia begins to move beyond traditional commercial banking and steps into
Banking & FinanceWegagen Bank S.C. reported a 73% year-on-year surge in gross profit to 3.85 billion birr ($66.5 million), marking one of its strongest financial performances in years, the bank said on Tuesday. At its annual general meeting held at the Hilton Hotel, Board Chairman Abdishu Hussien said the bank’s earnings were driven by robust income growth,
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Capital MarketEthiopia’s Capital Market Authority (ECMA) has launched an Initial Public Offering (IPO) Clinic to help local companies prepare for listings and equity issuance, in a move aimed at accelerating the country’s nascent capital market development. The initiative, backed by the World Bank, seeks to address gaps in regulatory understanding and market readiness as Ethiopia works
Capital MarketEthiopia’s capital market regulator on Wednesday licensed three new financial services firms, bringing the total number of licensed entities to eleven as the country continues to develop its capital markets. The newly licensed firms are First Addis Investment Bank PLC, which was granted an investment banking license, and Ignite Capital PLC and Zuri Capital S.C.,
