Meet Ethiopia’s 2026 Top 10 Taxpayers

Ethiopia’s fiscal heavyweights have been named. In a room at Skylight Hotel, the Ministry of Revenue’s Large Taxpayers Branch Office revealed which ten entities bankroll nearly half of the government’s largest tax collection operation. The list is dominated by state monopolies and foreign multinationals. But tucked in at number seven is a single, striking exception: a privately owned Ethiopian bank that outpaced every other domestic private firm in the country.

Here are the ten companies that together contributed ETB 254.44 billion—just under half of the branch’s total revenue of ETB 522.67 billion in the 2025/26 fiscal year.

1. Ethio Telecom — ETB 65.84 Billion

The state-owned telecom monopoly sits where it has for years: firmly at the top. Ethio Telecom’s tax bill alone exceeds the combined contributions of the second and third-ranked companies. In a market where it has long operated without serious competition, its 65.84 billion birr payment is a measure of both scale and control.

2. Commercial Bank of Ethiopia — ETB 36.87 Billion

As the largest bank in the country by assets, branches, and customer base, the state-owned Commercial Bank of Ethiopia remains a fiscal powerhouse. Its 36.87 billion birr contribution reflects the deep footprint of government-owned finance in the Ethiopian economy.

3. Ethiopian Airlines Group — ETB 30.87 Billion

Africa’s most consistently profitable airline and Ethiopia’s most visible global brand, Ethiopian Airlines continues to punch above its weight. The aviation group’s 30.87 billion birr tax payment underscores its role as both a strategic asset and a revenue engine for the treasury.

4. Heineken Breweries Share Company — ETB 26.10 Billion

The Dutch brewing giant’s Ethiopian operation is the first foreign-invested name on the list. Heineken’s 26.10 billion birr contribution points to the profitability of Ethiopia’s beverage sector and the earning power of established international brands in the local market.

5. Ethiopian Shipping and Logistics — ETB 22.20 Billion

Ethiopia is landlocked, but its trade flows through this state-owned logistics giant. Handling the vast majority of imports and exports moving through Djibouti, Ethiopian Shipping and Logistics delivered 22.20 billion birr to government coffers.

6. Ethiopian Electric Power — ETB 18.31 Billion

The state power generator’s 18.31 billion birr payment reflects the central role of energy in Ethiopia’s economic planning. With major generation projects underway and an expanding grid, EEP remains one of the most consequential state enterprises on the fiscal map.

7. Awash Bank Share Company — ETB 15.77 Billion

This is where the list changes character.

Awash Bank is not simply the seventh-largest taxpayer in Ethiopia. It is the only domestically owned private company in the top ten. Not the only bank. Not the only financial institution. The only private, Ethiopian-owned firm standing alongside state monopolies, government agencies, and foreign multinationals.

The bank paid 15.77 billion birr in the 2025/26 fiscal year, up from over 10 billion birr the year before. That single payment represented 3.02 percent of the entire Large Taxpayers Branch Office revenue.

8. Ethiopian Electric Utility — ETB 13.58 Billion

The distribution counterpart to Ethiopian Electric Power, the utility serves millions of households and businesses across the country. Its 13.58 billion birr contribution comes from the broad, nationwide reach of state-controlled electricity distribution.

9. BGI Ethiopia Private Limited Company — ETB 12.59 Billion

The second foreign-invested company in the top ten, BGI Ethiopia is a major force in the alcoholic and non-alcoholic beverage market. Its 12.59 billion birr tax bill signals that competition in Ethiopia’s drinks industry is both intense and lucrative.

10. Ethiopian Roads Administration — ETB 12.33 Billion

A government budgetary institution rather than a commercial enterprise, the Ethiopian Roads Administration rounds out the list with 12.33 billion birr. Its contribution stems from the massive fiscal flows tied to the country’s road construction and maintenance programs.

The Full List at a Glance

The Gap Between One Bank and Everyone Else

Awash Bank’s presence on this list is more than a banking headline. It is a window into how concentrated economic contribution remains in Ethiopia.

The Large Taxpayers Branch Office registered 532 private companies—71 percent of its 746 taxpayers. Yet all of them together contributed only 20 percent of total revenue, roughly ETB 104.60 billion.

Awash Bank, a single entity among those 532, paid 15.77 billion birr. That means one bank accounted for roughly 15 percent of what the entire rest of the domestic private sector in the portfolio managed to generate.

The concentration is stark. Six of the top ten are state-owned enterprises. Two are foreign investors. One is a government budgetary body. And then there is Awash Bank, alone.

What Comes Next

Awash Bank was not the only private bank to show strength. Bank of Abyssinia and Zemen Bank also ranked among the leading contributors in the private banking sector. But neither broke into the overall top ten.

The landscape may be shifting. Ethiopia is pushing ahead with financial sector liberalization, and foreign bank entry is on the horizon. That will bring new competition, new capital, and new pressure on domestic private banks. Whether Awash Bank can maintain its position as the private sector’s fiscal outlier—and whether any other domestic private firm can join it in the top ten—will be one of the key stories in Ethiopia’s economic trajectory over the coming years.