Ethiopian Capital Market Expands with New Licenses
The Ethiopian Capital Market Authority (ECMA) has granted licenses to five new capital market service providers (CMSPs), bringing the total number of licensed providers to nine.
The new licensees include:
- CBE Capital S.C. – Investment Bank
- Wegagen Capital Investment Bank S.C. – Investment Bank
- Ethio-Fidelity Securities S.C. – Securities Dealer
- HST Investment Advisory Services PLC – Securities Investment Advisor
- Equation Securities Investment Advisor PLC – Securities Investment Advisor
This move reflects the growth and diversification of Ethiopia’s capital market, which is now more accessible to both local and international investors. Notably, women-led institutions such as Wegagen Capital and HST Investment Advisory are making strides in the financial sector.
ECMA’s Director General, Hana Teklegiorgis, emphasized the integrity and commitment required from these new players to ensure the market’s future success and sustainability. Read here
Fuel Price Increase of Around 10% Announced
The Petroleum and Energy Authority has announced an increase in retail fuel prices, effective starting 23rd of March. According to the Director General of the Authority, Ms. Sahrela Abdullahi, the retail price of fuel has risen by approximately 10%.
In an interview with Tikvah Ethiopia, Ms. Abdullahi explained that the price increase is around 10%, meaning a rise of about 10 birr. For example, one liter of gasoline now costs 112 birr, up from 101 birr, and one liter of white diesel is now 107 birr, up from 93 birr.
The price hike follows a reform process. Gasoline, kerosene, and white diesel remain under the subsidy system, while light diesel and heavy black diesel are set by market prices, which have been in effect since last year. Additionally, jet fuel prices have been aligned with global market prices for the past three months. Tikvah Ethiopia
Safaricom M-PESA and Lakipay Partner to Enhance Digital Payments in Ethiopia
Safaricom M-PESA has joined forces with Lakipay Financial Technologies S.C. to streamline digital payments across Ethiopia. This strategic partnership integrates M-PESA with Lakipay’s payment gateway, enabling merchants to accept M-PESA transactions seamlessly.
Elsa Muzzolini, CEO of Safaricom M-PESA Mobile Financial Services, highlighted the company’s commitment to financial inclusion and digital transformation. Habtamu Tadesse, CEO of Lakipay, emphasized the efficiency this brings to merchants, making digital payments more accessible. Read here
Ethiopian Airlines Expands Charter Service with Boeing 737-800 Business Jet
Ethiopian Airlines has introduced a dedicated Boeing 737-800 Business Jet (BBJ) to enhance its VIP and charter services. This new aircraft offers luxurious seating, high-speed Wi-Fi, premium dining, and customizable configurations for business executives, diplomats, and private travelers.
Group CEO Mesfin Tasew emphasized the airline’s commitment to elevating premium travel and supporting Africa’s business and investment landscape. With flexible flight schedules and private terminal access, Ethiopian Airlines continues to set new standards in luxury air travel. Read here
Telebirr Digital Transactions Hit 1.03 Trillion Birr
Ethio Telecom reported a 1.03 trillion birr transaction volume on its digital finance platform, telebirr, serving 51.5 million users and generating 1.67 billion birr in income during the first half of EFY 2017.
The company also saw a 7.9% increase in subscriptions, 43% top-line growth, and a 55.5% EBITDA margin. Discussions with Ethiopian Investment Holdings focused on sustaining growth, improving service quality, and adapting to global trends in telecom and banking. Read here
Ethiopia Opens Logistics Sector, Ends State Monopoly
Ethiopia has granted logistics licenses to three companies, breaking the long-standing monopoly of Ethiopian Shipping & Logistics Services (ESLS). The move aims to boost competition, reduce costs, and improve efficiency in the sector.
Licensed operators include Ethio-Djibouti Railway S.C., Ethio-Railway Logistics Plc, and Gulf Ingot FZC Multimodal Operator, marking a mix of public-private partnerships and foreign investment. This reform is expected to enhance multimodal transport and streamline Ethiopia’s supply chain. Read here
Ethiopia’s First Digital Insurance & Loan Service Launched
Global Bank Ethiopia, Lucy Insurance, and Kacha Digital Financial Services have introduced “Agar,” Ethiopia’s first digital insurance and loan service. The platform allows users to purchase insurance, access digital loans, and manage savings via mobile, eliminating paperwork.
Available through the Kacha app, Agar offers quick loans for taxi drivers, salary advances for employees, and flexible insurance premium financing. This initiative aligns with Ethiopia’s Digital 2025 strategy, promoting financial inclusion and digital transformation in the insurance sector. Read here
GERD Nearing Completion, Inauguration in Six Months
Prime Minister Abiy Ahmed announced that the Grand Ethiopian Renaissance Dam (GERD) is nearing completion and could be inaugurated within six months. The dam, now holding 74 billion cubic meters of water, is set to significantly boost Ethiopia’s energy capacity.
Abiy reaffirmed Ethiopia’s commitment to dialogue with Egypt and Sudan, emphasizing that GERD aims to generate power, not disrupt water flow. Built without foreign aid, the project stands as a symbol of national resilience. Final preparations are underway, with full completion expected by early next year. Read here
EIH and Dodai End Partnership
Ethiopian Investment Holdings (EIH) and Dodai Group Inc. have mutually ended their Memorandum of Understanding (MoU) signed in October 2024. The agreement aimed to advance sustainable mobility and job creation in Ethiopia.
EIH plans to pursue the battery-swapping initiative through a dedicated venture capital (VC) fund, aligning with its broader investment strategy. Dodai, meanwhile, is shifting focus to alternative global opportunities. Both parties expressed appreciation for the collaboration and remain committed to innovation and economic growth. Read here
Ethiopia Secures Debt Treatment Agreement
Ethiopia’s Ministry of Finance has reached an Agreement in Principle (AIP) with its Official Creditor Committee (OCC) under the G20 Common Framework, addressing $8.4 billion in public debt.
The deal includes $2.5 billion in debt service relief (2023-2028) and a revised repayment structure to ease financial pressures. Ethiopia has also committed to reducing debt service by $3.5 billion during the IMF program period. The agreement will be formalized through bilateral deals with OCC members. Read here
Italy Invests €10 Million in Ethiopia’s Coffee Sector
The Italian Government has invested €10 million in Ethiopia’s coffee industry to enhance its competitiveness and sustainability. The funding, facilitated by the Italian Agency for Development Cooperation (AICS), is part of the Support Ethiopian Agribusiness Development Operating in the Coffee Value Chain project.
This initiative addresses challenges such as limited finance access, market fluctuations, and compliance with international regulations like the EU Deforestation Regulation (EUDR). The project will enable Ethiopian coffee producers and exporters to improve quality, increase value addition, and remain competitive globally.
The launch comes as Ethiopia’s coffee gains increasing global recognition, further strengthening its role in the global coffee market. Read here
FSD Ethiopia Invests $1.24M in Five Financial Inclusion Projects
FSD Ethiopia has committed $1.24 million in grants to support five local initiatives aimed at improving financial access for underserved communities. The projects, backed by the Gates Foundation, bring together startups and state-owned enterprises, focusing on digital innovation, community-based strategies, and financial literacy.
The recipients include Ethiopost, Lersha, Pula, Elebat Solutions, and Birrama, all working to enhance financial inclusion through digital tools, mobile wallets, and microinsurance solutions. The two-year program is designed to boost productivity, resilience, and economic growth in remote areas, particularly through women’s agent networks and tailored agricultural services. Read here
Better Auth’s Journey from Ethiopia to Y Combinator
Ethiopian startup Better Auth, an open-source authentication framework, has been selected for Y Combinator’s Spring 2025 Cohort, securing $500,000 in seed funding. Founded by Bereket Engida and Kinfe Michael Tariku, Better Auth simplifies secure authentication for developers, saving time and enhancing security.
Despite being in its early stages, the startup’s recognition in one of the world’s most competitive accelerators highlights its potential. However, challenges arose when Bereket’s visa application to attend the Y Combinator program was denied, delaying their journey. Nonetheless, Better Auth remains focused on building a scalable business and continuing its mission to improve security in software development. Read here
Have You Explored Our New Data Hub yet?
We’re excited to introduce the StockMarket.et Economic & Financial Data Hub—a game-changer for Ethiopia’s growing capital market! This platform is built to equip investors, analysts, and market participants with reliable, real-time economic insights that drive smarter financial decisions.
🌍 What’s Inside the Data Hub?
📊 Key Economic Indicators – Stay ahead with the latest GDP trends, inflation rates, unemployment stats, and more.
🏦 Financial Institution Data & Reports – Get deep insights into banks and financial institutions to make well-informed decisions.
💱 Live Exchange Rates & Currency Converter – Track market fluctuations in real-time and convert currencies effortlessly.
📉 Bank Exchange Rate Comparisons – Compare rates across banks to find the best deals for your financial transactions.
🔍 Plus, we’ve added a Knowledge Base to help you understand the significance of the data and how to use it effectively!
🚀 Join us in shaping Ethiopia’s financial future. We’re open to collaboration—reach out at hello@stockmarket.et for inquiries!
That’s a wrap for this week! For more updates, visit our website or follow us on social media.
✨ Crush your week ahead! ✨
