Quick Reads - Pana Insight

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Association for Capital Goods Finance Companies Established

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02/05/2024

The Association of Ethiopian Capital Goods Finance Companies has officially been established, receiving support from the five-year Bridges program funded by Mastercard. The initiative’s primary focus is to address pertinent challenges within the sector. Ethiopia’s capital goods financing sector is considered to be in its early stages, with only six companies currently registered with the […]

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NBE Revises Payment Instrument Issuer Directive

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- Fintech -

11/03/2023

The National Bank of Ethiopia (NBE) has taken a significant step in regulating the mobile money industry by issuing a revised Payment Instrument Issuer Directive. This directive, following the amendment of the Payment Systems Proclamation, introduces a set of new regulations and changes. Notable updates include detailed requirements for foreign mobile money service providers in […]

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Ethiopian Shipping Lines Reports 1b Birr Profit in Q1

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- Quick Reads -

11/03/2023

Ethiopian Shipping Lines announced it has earned an income of 13.06 billion birr in the first quarter of the current fiscal year. IESL generated 13.06 billion birr in income while incurring operational and administrative costs of 11.12 billion birr. As a result, the company secured a profit before tax of 1.937 billion birr for the […]

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Ethiopia Joins BRICS

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- Quick Reads -

08/24/2023

The BRICS nations, united in their quest to enhance global influence, unveiled a significant development during their summit in Johannesburg on Thursday. They have extended an invitation to six new member nations, including Ethiopia, Iran, Argentina, Egypt, Saudi Arabia, and the United Arab Emirates. The official inclusion of these new candidates into the BRICS bloc […]