Business

Abyssinia Bank Reports Record Growth: Total Assets Surge to 286.2 Billion Birr

Abyssinia Bank has reported its strongest financial performance to date, with total assets reaching 286.2 billion birr ($5.1 billion), marking a 28.8% year-on-year increase as of the close of the 2017 E.C. fiscal year (2024/25 Gregorian calendar). The bank’s annual general meeting—its 29th regular and 16th extraordinary shareholder assembly—highlighted sharp growth in income, profitability, and

September 30, 2025 • By Addis Insight

Business

Ethiopia Opens Restricted Eurobond Talks in Paris as Debt Restructuring Gains Momentum

Addis Ababa/Paris – Ethiopia has entered into confidential negotiations with a group of its international bondholders to restructure its $1 billion Eurobond, signaling the most serious progress yet in efforts to resolve its sovereign debt crisis. According to people familiar with the matter, the restricted talks – held under non-disclosure agreements – began in Paris

September 30, 2025 • By Addis Insight

Business

Visa, SantimPay to Deploy 20,000 POS Terminals in Ethiopia

Addis Ababa – Global payments giant Visa Inc. has entered into a strategic partnership with Ethiopian fintech firm SantimPay Financial Solutions S.A. to deploy 20,000 point-of-sale (POS) terminals across Ethiopia, a major step toward building out the nation’s underdeveloped digital payments infrastructure. The agreement—inked during the Visa Connector Ethiopia summit last week—marks Visa’s first financial

September 30, 2025 • By Addis Insight

Business

Ethiopia 2025: U.S. Report Flags Reforms and Corridor Risks

The U.S. State Department’s 2025 Investment Climate Statement on Ethiopia paints a picture of a country pulling in two directions at once: a government eager to court foreign capital and modernise its economy, and a political and regulatory environment that repeatedly unsettles the very investors it hopes to attract. Reform Momentum and Market Appeal The

September 29, 2025 • By Addis Insight

Business

NBE Lifts Credit Cap to 24% but Stops Short of Full Removal

Ethiopia’s Central Bank Holds Tight on Monetary Policy Ethiopia’s central bank unexpectedly opted for a partial easing of its credit controls, lifting the ceiling on commercial bank loan portfolio growth to 24% from 18%—but stopping well short of the full removal that investors, exporters and commercial lenders had widely expected. The announcement came late Monday

September 29, 2025 • By Addis Insight

Business

Ethiopia’s Central Bank Holds Interest Rate at 15% as Inflation Cools and Economy Strengthens

Addis Ababa — Ethiopia’s central bank kept its benchmark interest rate unchanged at 15% and opted for only a cautious loosening of credit growth limits, signaling that policymakers remain focused on containing inflation even as the economy shows signs of broad-based strength. The Monetary Policy Committee (MPC) of the National Bank of Ethiopia (NBE), which

September 29, 2025 • By Addis Insight

Business

Malaysia Reopens Embassy in Addis Ababa After 43 Years

Malaysia has officially re-established its diplomatic presence in Ethiopia, reopening its embassy in Addis Ababa after more than four decades of closure. The decision marks a significant step in strengthening political, economic, and cultural links between the two countries and underscores Malaysia’s growing interest in the African continent. Historic Closure and Reopening Malaysia’s Ministry of

September 29, 2025 • By Addis Insight

Business

Abyssinian Flight Launches First Tourist Charter to the Grand Ethiopian Renaissance Dam

Abyssinian Flight Services & Aviation Academy (AFS), one of Ethiopia’s leading private air charter operators, has inaugurated the first tourist charter flight to the Grand Ethiopian Renaissance Dam (GERD), positioning the iconic dam as a premier national tourism destination. The milestone flight, carrying Ethiopian-American diaspora visitors, took place on September 25, 2025, shortly after the

September 28, 2025 • By Addis Insight

Business

Ethiopia to Enforce 30% Tax on Petroleum Products in Current Fiscal Year

The Ministry of Finance has announced that it will fully implement a 30% tax on petroleum products during the current 2018 fiscal year. The tax comprises a 15% value-added tax (VAT) and a 15% excise duty. According to the ministry, this policy marks a significant shift in the country’s fiscal strategy and forms part of

September 28, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Strikes North America Remittance Deal With Ramad Pay

The Commercial Bank of Ethiopia (CBE), the country’s largest financial institution, has signed a memorandum of understanding (MoU) with Ramad Pay, a North America–based money transfer company, in a move designed to capture a larger share of Ethiopia’s fast-growing remittance market and bring more of those flows into formal channels. Tapping Into a Multi-Billion Dollar

September 27, 2025 • By Addis Insight