Your weekly shot of Ethiopia’s freshest business, tech, and finance news.
Before you sip your buna, catch up on the biggest shifts and smart plays shaking Ethiopia.
Finance & Policy
Ethiopia Eyes Non-Dollar Trade
Ditching the dollar? Ethiopia is looking to settle trade in local currencies, starting with the UAE, to cut reliance on the greenback and expand investment ties. Minister Eyob Tekalign called it a “national interest” play, while African states continue to eye a single continental currency via AfCFTA. Source: APA news
IMF Issues a Soft Warning
The IMF loves the reforms, but worries the fuel might be running out. Donor support has dipped below 4% of GDP, security risks persist, and privatizations have stalled. Still, Ethiopia secured a $262M disbursement as part of its $3.4B deal. Source: Reuters
Parallel FX Market Creeps Back
Despite FX liberalization last year, the black market spread is back up to 17%. The birr’s still under pressure, even with $4B in reserves and new interest rate tools. Read here
Tech & Digital Economy
Ethiopia Approves Landmark Startup Proclamation
It’s finally here. Ethiopia passed its first-ever Startup Proclamation, creating a national legal framework to support innovation, tech entrepreneurship, and easier access to funding. Target: Young founders. Goal: Make Ethiopia a tech exporter, not just a consumer. Read here
Ethiopia’s First Local POS Factory
SantimPay opened Ethiopia’s first locally assembled POS device plant, capable of cranking out 3,000 devices daily. Integration planned with Telebirr, M-Pesa, CBE Birr They’ve already launched FrankRemit, won awards, and now aim to be a switch operator. Read here
Findex 2025: Banking Grows, Digital Lags
49% of Ethiopians now have a bank account — nearly double the 2017 figure. But only 7% use digital accounts, with massive gender and income gaps. Key blockers:
- Only 16% own smartphones
- Just 14% accessed the internet recently
TREASURY BILL AUCTION SEES STRONG SHORT-TERM DEMAND
The National Bank of Ethiopia raised ETB 52.97 billion in its July 9, 2025 auction, with oversubscription on 28-day and 91-day bills signaling strong appetite for short-term instruments. Yields peaked at 18.95% on the 182-day bill, while the 1-year tenor saw weak demand and lowest yield at 14.98%. Price spreads revealed intense bidding on mid-term bills, with investors showing caution toward longer durations.
Tap to explore full results & insights in our infographic.
Banking & Capital Markets
Wegagen Executes Ethiopia’s First Inter-Broker Trade
History made: Wegagen Capital executed the first-ever inter-broker trade on the Ethiopian Securities Exchange (ESX), trading T-bills and listed securities. It’s a big leap toward capital market liquidity and modern finance. Read here
Gada Bank Goes Digital & Public
Gada Bank just joined the capital markets, registering shares on ESX. Assets: 10.1B Birr (+80% YoY) Deposits: 7.7B Birr Launched: Gada Digital omni-channel banking. Read here
Abay Bank Turns 15
With 91B Birr in assets and 555 branches, Abay Bank is celebrating 15 years of growth. 57% of transactions are now digital Donated 50M Birr to community projects Celebrations include blood drives and a grand gala this November. Read here
New M-PESA Overdraft Service
Awash Bank + M-PESA = “Errif be M-PESA” — an overdraft feature letting users transact with zero wallet balance. Target: Underserved, low-income users Next up: Data-driven lending Read here
Aviation & Emerging Mobility
Electric Air Taxis Are Coming in 2026
Ethiopian Airlines just signed a $30M deal with U.S.-based Archer Aviation to launch electric air taxis (eVTOL) for tourist routes like Lalibela and Simien Mountains. Aircraft: Midnight eVTOL Distance: 20–50 miles Goal: Cleaner, faster, last-mile travel Hurdles: Regulation & infrastructure
Source: Birrmetrics
Crypto, Energy & Mining
Bitcoin Mining Expands in Ethiopia
BIT Mining Ltd (NYSE: BTCM) just wrapped up Phase 2 of its Ethiopian expansion — now operating 51 MW worth of crypto data centers and Bitcoin mining rigs. Focus: Strategic pivot to Solana ecosystem Deal: 45M shares issued
Tax & Regulation
New Income Tax Law Passed (Despite Protest)
Ethiopia passed a revised Federal Income Tax law that raises:
- Tax-free threshold from 600 → 2,000 Birr
- Top tax band now kicks in at 14,100 Birr/month
- Labor unions aren’t happy — calling it out-of-touch with rising living costs.
- Still, the law is now in effect. Read here
As Ethiopia pushes forward on multiple fronts, from financial reforms and capital market expansion to tech adoption and infrastructure, this week’s developments highlight both the country’s growing ambitions and the complex dynamics shaping its economic path. We’ll be watching closely as these policies and innovations unfold in the months ahead.
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— Written by the StockMarket.et Newsroom
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