ECMA Grants Securities Investment Advisor License to Ethio Capital Solutions
The Ethiopian Capital Market Authority (ECMA) has licensed Ethio Capital Solutions PLC as a Securities Investment Advisor, further expanding Ethiopia’s capital market.
The firm met regulatory requirements under Directive No. 980/2024 and is now authorized to provide investment advisory services to issuers, investors, and market participants. Ethio Capital Solutions becomes the fourth licensed advisor, joining I-Capital Institute PLC, Deloitte, and Habtamu Eshetu Gebre.
ECMA reaffirmed its commitment to fostering a well-regulated investment landscape, highlighting the role of advisors in investor education and market growth. Read here
Ethiopia Launches First Electronic Passport
Ethiopia has launched its first electronic passport (E-passport) at the Science Museum, a collaboration between Immigration and Citizenship Services (ICS), Ethiopian Investment Holdings (EIH), and Toppan Security Ethiopia S.C. The E-passport features biometric technology and advanced security measures, enhancing international recognition and streamlining travel for Ethiopian citizens.
The launch event, attended by H.E. President Taye Atske Selassie, highlighted the passport’s benefits for improving travel experiences. Additionally, ICS is set to implement a digital transformation for visa, ID, and permit services starting February 24, 2025, with a nationwide awareness campaign to assist citizens in the transition. Read more
EIH Mid-Year Review: Assessing Ethiopia’s State-Owned Enterprises
Ethiopian Investment Holdings (EIH) has conducted its mid-year performance review of state-owned enterprises (SOEs), highlighting key achievements and challenges across major sectors.
Economic & Industrial Growth
- Ethiopian Sugar Industry Group (ESIG) earned Birr 6.1B from sugar sales, achieving 132% YoY growth despite supply issues.
- Ethiopian Petroleum Supply Enterprise (EPSE) met 92% of purchase and 97% of sales targets, improving transparency through digitalization.
- Industrial Parks Development Corporation (IPDC) attracted $597M in FDI, created 70,000 jobs, and achieved 96% revenue growth while strengthening Ethiopia’s industrial sector.
- Ethiopian Trading Businesses Corporation (ETBC) supplied 1.10M quintals of essentials, providing Birr 847.2M in discounts to consumers.
Infrastructure & Energy
- Ethiopian Railway Corporation (ERC) reported ETB 190.4M in revenue but faces financial strain due to debt and project disruptions.
- Ethiopian Electric Utility (EEU) added 235,852 new customers, facilitating 7,213 GWh consumption (+13.6% YoY) and generating ETB 23.83B revenue.
Mining & Aviation
- Ethiopian Mineral Corporation (EMC) is working on financial recovery through kaolin production, gemstone marketing, and deep well drilling.
- Ethiopian Airlines posted 199% operating profit growth and 211% net profit increase, exceeding cost-saving targets by 32%.
EIH continues to assess SOE performance, driving strategic reforms to improve efficiency and financial sustainability.
EIH Appoints New CEO for Ethiopian Electric Utility
Ethiopian Investment Holdings (EIH) has appointed Ato Getu Geremew as the new CEO of Ethiopian Electric Utility (EEU), succeeding Ato Shiferaw Telila. This leadership change is part of EIH’s strategy to enhance efficiency, accountability, and service reliability within its state-owned enterprises.
EIH aims to improve power supply stability and operational effectiveness at EEU, a key player in Ethiopia’s infrastructure and socio-economic development. EIH reiterated its commitment to ensuring zero power disruptions and strengthening EEU’s infrastructure to align with national development goals. Read here
Dashen Bank Launches Innovation Hub with Accion & Mastercard
Dashen Bank, in partnership with Accion and Mastercard, is launching an innovation hub to expand digital financial services for Ethiopia’s MSMEs, focusing on women-owned businesses. The hub will leverage AI and embedded finance to bridge the country’s $4.2 billion MSME financing gap. This initiative reinforces Dashen Bank’s commitment to financial inclusion and digital banking leadership. Read more
Fintech Giants Enter Ethiopia Ahead of Banks
Fintech leaders pawaPay, Zuri Health, and Flutterwave are set to enter Ethiopia in early 2025, leveraging market liberalization to establish a foothold ahead of foreign banks. Their entry marks a major shift in Ethiopia’s cash-heavy economy, where digital transactions remain low. Through strategic acquisitions and organic growth, these fintechs aim to drive financial innovation and expand digital payment adoption. Read more
Ethiopia-Somalia Hold Talks in Turkey Over Somaliland Dispute
Ethiopian and Somali diplomats met in Ankara for the first round of technical talks mediated by Turkey to resolve tensions over Ethiopia’s deal with Somaliland. The agreement, which grants Ethiopia access to the sea in exchange for recognizing Somaliland’s independence, has been contested by Somalia as a violation of its sovereignty. Both sides reaffirmed their commitment to the Ankara Declaration, with the next round of talks scheduled for March. Read more
ILO-Supported Kulehe Project Boosts Youth Entrepreneurship
The Kulehe project, launched in Addis Ababa by Safe Light Initiative with ILO and Edukans Foundation support, empowers 120 youth from refugee and host communities through entrepreneurship training, financial inclusion, and business linkages. Selected participants receive seed capital or access to digital financial services without collateral. The initiative promotes sustainable youth employment and economic development, aligning with ILO’s vision of fostering entrepreneurship. Read more
USAID Freeze Disrupts Aid Efforts in Ethiopia
The recent 90-day freeze on USAID funding by Donald Trump has severely impacted Ethiopia, halting food deliveries, healthcare programs, and refugee support. With 34,880 metric tonnes of food stranded in Djibouti and USAID-funded healthcare initiatives—including HIV treatment, malaria prevention, and maternal health—paused, millions are at risk. The freeze also affects refugee aid and support for sexual violence survivors, forcing NGOs to suspend critical programs. Aid groups warn that if funding doesn’t resume, Ethiopia could face an escalating humanitarian crisis. Read more
Ethiopia to Develop Eight Solar Power Projects
The Ethiopian Electric Power Corporation (EEPC) announced plans to develop eight solar power projects through public-private partnerships. Studies for four projects—Gad 1 & 2, Dicheto, and Waranso—are complete, with tenders issued for Gad 2 and Waranso (225MW capacity, $200M investment). Overcoming past hurdles, including foreign exchange concerns, the government now supports the projects under its economic reform policy. Once completed, these projects will expand electricity access, diversify Ethiopia’s energy mix, and generate up to 750MW while fostering private sector involvement. Capital Ethiopia
NBE Raises Treasury Bill Rates Above Inflation and Policy Rate
The National Bank of Ethiopia (NBE) has raised Treasury Bill (T-bill) interest rates above the policy rate for the first time, signaling a shift towards positive real returns. As of February 6, 2025, one-year T-bill rates have surged by 57% since July, reaching 15.7%, surpassing both the 15.5% inflation rate and the 15% policy rate. This move, influenced by IMF recommendations, aims to attract more bidders and boost government fundraising. Previously, T-bill rates were capped at 10%, discouraging higher bids, but recent auctions reflect a shift toward market-driven pricing. Capital Ethiopia
Ethiopia Signs MoU with ATIDI to Boost Renewable Energy Investment
Ethiopia’s Ministry of Finance and Ethiopian Electric Power (EEP) have signed an MoU with the African Trade Insurance Agency (ATIDI) to attract foreign investment into renewable energy projects. The agreement enables Independent Power Producers (IPPs) and Public-Private Partnerships (PPPs) to access ATIDI’s Regional Liquidity Support Facility (RLSF), ensuring payment security and financial stability.
Finance Minister Ahmed Shide emphasized that the partnership will enhance Ethiopia’s investment appeal, while ATIDI CEO Manuel Moses highlighted its role in reducing financial risks and accelerating clean energy growth. Ethiopia becomes the 11th ATIDI member state to join RLSF, supporting solar and wind projects in the first round of allocations. Read more
Hilton Expands in Ethiopia with New DoubleTree Hotels
Hilton is set to enhance its presence in Ethiopia by partnering with Brighton Hotels and Business Plc. to open two DoubleTree by Hilton properties in Adama and Dire Dawa by 2028. This expansion aims to support the growing business and tourism sectors in these key regional cities.
The Adama hotel will feature 188 rooms, dining options, a ballroom, meeting spaces, a spa, and an outdoor pool, strategically located near major institutions and industrial hubs. Meanwhile, the Dire Dawa hotel will offer 150 rooms and modern amenities, including diverse dining venues, a fitness center, and meeting spaces.
This partnership reflects Hilton’s commitment to providing high-quality hospitality in Ethiopia and contributing to the country’s evolving tourism landscape. Read more
Ethiopia’s Bondholders Challenge IMF’s Debt Solvency Report
Ethiopia’s bondholder committee has criticized the latest IMF report, claiming it misrepresents the country’s debt situation and could lead to unnecessary debt relief measures. The dispute centers on whether Ethiopia faces a liquidity crisis or a solvency crisis requiring bondholder losses.
Ethiopia defaulted on its $1 billion Eurobond in December 2023 and has been negotiating restructuring after securing a $3.4 billion IMF bailout. The government has proposed an 18% haircut, while bondholders argue the IMF’s projections overlook economic improvements.
With negotiations in the final stages, bondholders have warned of potential legal action to enforce Ethiopia’s debt obligations, making the outcome critical for the country’s financial stability. Read more
Ethiopian Investment Holding Secures $600M for Dairy & Farming Project
Ethiopian Investment Holdings (EIH), Ethiopian Agricultural Business Corporation (EABC), and Asset Green have signed a $600 million agreement to launch an Integrated Dairy and Commercial Farming Project. The project, executed in two phases, will establish a large-scale dairy farm and expand into cotton, oilseed, and rice farming across 15,000 hectares. The initiative aims to modernize agriculture, boost food security, and attract foreign investment. Officials highlight the project’s role in job creation and economic growth, leveraging advanced technology and sustainable practices to position Ethiopia as a key agricultural hub in Africa. Read more
We have Launched a New Economic and Financial Data Hub
StockMarket.et has officially launched its comprehensive Economic and Financial Data Hub, designed to provide essential data and insights as Ethiopia’s capital market continues to grow.
The new hub aims to empower investors and market participants by offering access to reliable economic data.
Key features of the hub include:
- Key Economic Indicators: Users can stay updated on vital statistics such as GDP, inflation, unemployment rates and etc.
- Financial Institution Data & Reports: The hub provides insights into banks and other financial players, helping users make informed decisions.
- Live Exchange Rates & Currency Converter: Users can track market fluctuations in real time.
- Bank Exchange Comparisons: The platform allows for informed financial decision-making.
To further assist users, we have included a knowledge base to help explain the significance of the data. So we encourage your feedback and suggestions to enhance the platform,
For more information and to explore the new hub, visit StockMarket.et Data Hub.
StockMarket.et is dedicated to fostering a stronger financial future for Ethiopia and invites collaboration with interested parties. For inquiries, contact hello@stockmarket.et.
This initiative was made possible thanks to the hard work of StockMarket.et’s Tech Team, PiSpace Innovations.
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