July 29- August 3, 2024 This report provides an analysis of Ethiopia’s insurance sector as of June 2024, focusing on its financial performance, market players, and products. Despite its growth potential, the sector remains underdeveloped due to factors such as limited public awareness, inadequate regulatory oversight, and weak market development…
Women tend to have better loan repayment rates than men. There is an implication that women are subject to a stricter loan application evaluation. Loan officers could be gender-biased, there may not be sufficient data for women, or data sources may not fully account for gender differences, creating barriers to…
July 29- August 3, 2024 The government of Ethiopia announced that a market-based exchange rate will be implemented on July 28, 2024. On July 29, the Commercial Bank of Ethiopia announced its inaugural market-based exchange rate, setting the rate for 1 USD at 74.7 for buying and 76.23 for selling. …
In an important development for Ethiopia’s financial landscape, Tilahun Kassahun has been appointed as the founding CEO of the Ethiopian Securities Exchange (ESX). The decision was made during the latest board meeting chaired by Helaway Tadesse, where Tilahun’s expertise and experience were recognized as vital for the success of the…
The Commercial Bank of Ethiopia (CBE), the nation’s largest bank, has introduced a comprehensive tariff guide for its wide array of banking products and services. This tariff guide encompasses various categories, including deposit accounts, transfer services, bill payments, cheque books, safe deposit boxes, digital banking, international banking, and credit services.…
Ethiopian Investment Holdings (EIH), along with its four subsidiary companies, has entered into an agreement to become the founding members of the Ethiopian Securities Exchange (ESX) Share Company. This marks a significant milestone in the advancement of Ethiopia’s capital markets, with the ESX is expected to launch in 2024. The…
British International Investment (BII), the UK's Development Finance Institution (DFI), and FMO, the Dutch entrepreneurial development bank, have jointly pledged $40 million to Dashen Bank . This substantial financial support is aimed at catalyzing Ethiopia's agricultural sector and facilitating access to essential foreign exchange within the country.
M-PESA, Safaricom Ethiopia’s Mobile Financial Services, went live in August 2023 three months after receiving the Payment Instrument Issuer License from the National Bank of Ethiopia (NBE). The license was granted to Safaricom M-PESA Mobile Financial Services PLC, a subsidiary company owned by Safaricom Telecom Ethiopia, in May 2023. M-PESA’s…
