Ethiopian Securities Exchange Partners with Bourse de Casablanca
The Ethiopian Securities Exchange (ESX) and Bourse de Casablanca have signed a strategic cooperation agreement to advance African capital markets. Announced at the Africa Financial Summit in Casablanca, the partnership focuses on technical expertise, market development, and innovation to strengthen Ethiopia’s evolving stock market. Bourse de Casablanca will support ESX with operational insights and share its financial reform experiences, including derivatives market development. The collaboration aims to boost trade ties, promote dual listings, and advocate for African interests on global financial platforms, with an emphasis on sustainability and ESG practices.
Ethiopia’s First Securities Exchange Launching January 2025
The Ethiopian Securities Exchange (ESX) is set to launch the country’s first-ever securities exchange in early January 2025, a historic milestone in Ethiopia’s financial sector. Part of the Homegrown Economic Reform program, the ESX will provide a transparent platform for trading shares, bonds, and other financial instruments, aiming to attract domestic and international investors. This initiative is expected to mobilize capital, promote economic stability, and drive innovation in Ethiopia’s evolving financial ecosystem.
SantimPay Reports 86 Million Birr Profit
SantimPay Financial Solutions, a rising star in Ethiopia’s fintech scene, announced a gross profit of 86 million birr for the 2023/24 fiscal year. With revenues of 152 million birr and an EPS of 337.87 birr, the two-year-old startup delivered shareholder returns comparable to major banks. Processing 44 million transactions worth 18 billion birr, SantimPay grew its asset base to 240 million birr while maintaining 29 million birr in liabilities. Its paid-up capital stands at 158 million birr. The year saw strategic partnerships with banks and a pilot deployment of 200 POS devices. SantimPay also launched SantimFundMe, a local fundraising platform aimed at diversifying its offerings. Operating in a competitive market, the company continues to scale innovation and growth. Shega
Ethiopia Launches Startup Data Hub
A new open-access data platform has been launched in Ethiopia, offering a centralized hub for insights into the country’s startup ecosystem. Developed with the Ministry of Innovation and Technology, Systemic Innovation, GrowthAfrica, and Dealroom.co, and funded by the FCDO through The RISA Fund, the platform aims to bridge information gaps, promote collaboration, and support data-driven decisions. Features include ecosystem performance tracking, global exposure for startups, and enhanced networking with investors and collaborators. This initiative is a major step toward showcasing Ethiopia’s innovation and attracting international investment.
Explore more: https://ethiopia.dealroom.co/dashboard
EDTF Expands Mission to Drive Innovation in Ethiopia
The Ethiopian Diaspora Trust Fund (EDTF) is strengthening its role in Ethiopia’s development by fostering global partnerships and investing in education, healthcare, and agriculture. The upcoming Great Rift Valley Innovation Summit 2025 (January 31–February 1, Addis Ababa) will spotlight this mission, featuring a Pitch Competition with $750,000 in non-dilutive funding for 18 startups, supported by the UNDP. EDTF’s initiatives focus on empowering women, youth, and underserved communities while attracting U.S. and global investors to Ethiopia’s vibrant startup ecosystem. “By aligning global partners with Ethiopia’s brightest innovators, we are creating a foundation for a more inclusive and prosperous future,” said Lulite Ejigu, EDTF Board Chair.
IFC Partners with Awash Bank to Boost Trade Finance
The International Finance Corporation (IFC) has extended a $20 million trade finance guarantee to Awash Bank, enhancing its capacity to support Ethiopian businesses in facilitating essential trade. Announced at the 2024 Africa Financial Industry Summit in Casablanca, the partnership also includes advisory services to strengthen Awash Bank’s risk and treasury management. This collaboration makes Awash Bank a member of IFC’s Global Trade Finance Program (GTFP), aimed at mitigating payment risks and fostering trade in emerging markets. “This milestone enables us to better serve our customers and drive financial inclusion,” said Tsehay Shiferaw, CEO of Awash Bank. The initiative is part of IFC’s broader $1 billion Africa Trade and Supply Chain Finance Program (ATRI), which promotes regional trade and reduces reliance on imports across the continent.
Bunna Bank Reports 31% Drop in Profit Amid Challenges
Bunna Bank announced a pre-tax profit of 930.1 million birr for the fiscal year ending March 31, marking a 31.6% decline from the previous year due to conflicts and inflation affecting lending and deposit activities. Despite these challenges, the bank’s total assets grew by 8.14 billion birr to reach 54.53 billion birr, and loans exceeded 38 billion birr. Interest-free deposits also hit 2 billion birr, reflecting resilience in the face of industry-wide difficulties. Capital Ethiopia
27 Professionals Graduate with CISI Capital Markets Certificate
Bruh Finance announced the graduation of 27 professionals who earned the CISI Level 3 Capital Markets – Securities Certificate. The achievement was made possible through collaboration with the Association of Ethiopian Insurers, Ethiopian Reinsurance Share Company, and The Chartered Institute for Securities & Investment (CISI).
Anbessa Insurance Expands Market Share
Anbessa Insurance reported a premium income of 1.178 billion birr, capturing 4.38% of the market and achieving a net profit of 185.3 million birr after legal reserves. Total assets grew by 33.9% to 2.78 billion birr. At its 17th Annual General Meeting, the company announced receiving National Bank approval to launch Takaful Insurance, marking a key step in diversifying its offerings. The insurance sector overall collected 28.3 billion birr in premiums during the fiscal year. Capital Ethiopia
ArifPay Launches Innovative 3.0 Product Suite
ArifPay Financial Technologies has introduced ArifPay 3.0, featuring three tools—Arif QR, Arif Merchant QR, and Arif Terminal Management System—to revolutionize digital transactions in Ethiopia. Designed to empower businesses, improve customer experiences, and simplify payments, these tools aim to accelerate Ethiopia’s digital transformation and foster growth in the digital economy.
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