Daily News – Ethiopian Business Review

EBR_News May 31, 2026

Three of Ethiopia’s largest licensed payment gateway operators, Chapa Financial Technologies, ArifPay Financial Technologies, and SantimPay Financial Solutions, have jointly written to the Governor of the National Bank of Ethiopia, Eyob Tekalign (PhD), urgently requesting intervention over enforcement actions taken by the Ministry of Revenue against their companies.

A copy of the letter, dated 29 May 2026, was exclusively accessed by Ethiopian Business Review. It is copied to Prime Minister Abiy Ahmed, the Minister of Justice, and the Minister of Revenue, and describes the enforcement as procedurally premature and in violation of Ethiopian law.

EBR_News May 14, 2026

A delegation of senior South African insurance executives visiting Oromia Insurance Company says Ethiopia’s insurance industry holds significant growth potential, particularly in digital insurance and underserved markets, as the country pushes ahead with sweeping sector reforms expected to open the industry to foreign investors and digital innovation.

With senior faculty members predicting that major South African insurers including Discovery and Santam will enter the Ethiopian market within the next five years.

The visit comes just weeks after Ethiopia circulated a draft insurance proclamation proposing the biggest overhaul of the sector in more than a decade. The draft law would allow foreign insurers to enter the Ethiopian market, introduce regulatory sandboxes for innovative insurance products, establish an independent insurance regulator, and create a legal framework for Takaful Islamic insurance operations.

EBR_News May 13, 2026

Salaam Group has launched construction of a USD 160 million energy and logistics terminal in Djibouti, a project expected to strengthen fuel and commodity supply chains serving Ethiopia and the wider East African market.

The project, developed through Salaam Group subsidiary Fuelstor, officially broke ground this week in the strategic Damerjog corridor near Djibouti’s port infrastructure.

Spanning 22 hectares, the terminal will have storage capacity of approximately 400,000 metric tons for fuel, liquefied petroleum gas (LPG), and edible oil products. The facility is designed as an integrated storage, trading, and redistribution hub aimed at supporting growing regional demand and shifting trade routes across East Africa.

EBR_News May 7, 2026

Ethiopia has solved the technical puzzle of online payments, but the country’s e‑commerce sector will not take off until logistics, consumer trust, and last‑mile delivery catch up with digital payment infrastructure, experts warned during a symposium organised by Addis Ababa University’s Department of Marketing Management.

The one‑day event, held at the College of Business and Economics, brought together researchers, logistics executives, payment specialists, and legal advisors to assess the state of e‑commerce under the Digital Ethiopia 2030 strategy. While presenters acknowledged impressive gains in mobile money and payment gateway services, they identified a fragmented ecosystem and a weak “fulfilment and trust” layer as the biggest obstacles to scaling online trade.

Presenting a paper titled The Current Status of E‑Commerce in Ethiopia, Minale Ashagre (PhD) noted that several e‑commerce platforms such as Jumia, Balesuq, and Qefira have collapsed due to a combination of regulatory uncertainty, payment integration problems, high logistics costs, and unsustainable pricing.

EBR_News May 4, 2026

Betegbar Yaregal

Ethiopia is preparing to inaugurate new ceramic manufacturing plants expected to fully meet domestic demand and reduce reliance on imported construction materials, in a move aimed at easing logistics constraints and supporting industrial growth.

Prime Minister Abiy Ahmed announced the development during the opening of the Ethiopia Tamirt Expo in Addis Ababa, indicating that at least two ceramic factories will begin operations in the near term.

Abiy stated that the country has long relied on imported stone and ceramic products, which, combined with underdeveloped logistics, slowed down construction projects. “For years, Ethiopia has been importing stones. With that situation and poor logistics, it was impossible to accelerate construction as needed,” he said.

EBR_News Apr 27, 2026

Betegbar Yaregal

A new draft insurance proclamation circulating among stakeholders proposes the most significant overhaul of Ethiopia’s insurance sector in over a decade, including the introduction of foreign ownership, an independent regulator, and a regulatory sandbox for innovative products, according to a copy of the draft insurance proclamation reviewed by Ethiopian Business Review.

The draft, which would repeal the 2012 Insurance Business Proclamation and its 2019 amendment, remains in the consultation phase and has not yet been enacted into law.

The draft proposes for the first time to allow foreign insurers to enter the Ethiopian market by establishing partially or fully owned subsidiaries, acquiring shares in existing insurers, or opening representative offices. Under the draft, strategic investors would be capped at 40 percent direct shareholding, while non-strategic foreign individuals would be limited to 7 percent and foreign juridical persons to 10 percent. The aggregate shareholding by foreign nationals would not exceed 49 percent of an insurer’s total subscribed shares.

EBR_News Apr 23, 2026

Haile Hotels and Resorts Group has officially inaugurated its 11th destination in the historic city of Debre Berhan, investing 1.9 billion birr in a modern four-star hotel that will create permanent jobs for more than 300 people once fully operational, according to a press release from the group and remarks made at the ceremony.

The new Haile Hotel Debre Berhan features 123 guest rooms, four restaurants, a bar, six state-of-the-art meeting halls, a gymnasium, steam and sauna baths, an indoor swimming pool, massage therapy, and a traditional Moroccan bath. The hotel currently employs 200 citizens, with employment expected to exceed 300 at full capacity.

EBR_News Apr 21, 2026

Betegbar Yaregal

Prime Capital S.C. has officially received an investment banking license from the Ethiopian Capital Market Authority (ECMA), becoming the second independent investment bank in the country and the sixth institution licensed in the investment banking category.

The licensing ceremony, held at ECMA headquarters in Addis Ababa, brings the total number of licensed Capital Market Service Providers (CMSPs) in Ethiopia to 17, expanding the ecosystem across three operational categories.

With Prime Capital’s entry, the investment banking category now includes six institutions: Siinqee Investment Bank, CBE Capital, First Addis Investment Bank, Wegagen Capital, Awash Capital, and Prime Capital. Prime Capital joins First Addis Investment Bank as the only two independent investment banks not operating as subsidiaries of commercial banks.

EBR_News Apr 20, 2026

Natran Abdulfetah

The European Union and the Secretariat of the African Continental Free Trade Area (AfCFTA) have signed a Memorandum of Understanding (MoU) establishing a $1.4 billion (€1.22) investment framework during the EU-Ethiopia Business Forum at the Hilton Hotel in Addis Ababa. The agreement, signed by European Commissioner Jozef Síkela and the AfCFTA Secretariat, Wamkele Mene formalizes a financial commitment to African economic integration. This funding is part of the Team Europe Initiative and involves the European Commission and eight EU Member States: Denmark, Germany, Ireland, France, the Netherlands, Finland, Portugal, and Sweden.

EBR_News Apr 20, 2026

Betegbar Yaregal

Russia has more than doubled its wheat exports to Sudan and solidified its position as Africa’s dominant grain supplier, capturing a record 40 percent of the continent’s wheat import market, according to Russia’s agriculture export agency Agroexport. The development coincides with Ukraine’s strategic pivot to Africa, opening its first agricultural hub in Ghana and intensifying competition for a continent where Ethiopia remains heavily dependent on Black Sea imports.

Russian wheat shipments to Sudan surged to 1.7 million tons since the start of the 2025/26 season, up from 0.7 million tons a year earlier, driven by the restart of several Sudanese mills and a broader push into African markets. Agroexport reported that Egypt alone accounted for a record 21 percent of Russia’s wheat exports in the 2024/25 season, exceeding 9.4 million tons.

Ethiopia’s Top Three Payment Gateways Appeal to National Bank Over Tax Enforcement Actions, Citing Legal Violations

South African Insurers Eye Ethiopia Entry as Digital Gap and Low Penetration Create ‘Huge Potential’

Salaam Group Launches USD 160 Million Djibouti Energy Hub Targeting Ethiopian, Regional Trade Flows

Ethiopia’s E-Commerce Expansion Held Back by Logistics, Trust Gaps Despite Digital Payment Growth, Experts Say

Ethiopia to Inaugurate Ceramic Factories Expected to Meet 100% of Local Demand, PM Says

Ethiopia Drafts Sweeping New Insurance Law Proposing Foreign Investment, Regulatory Sandbox and Takaful Framework

Haile Hotels and resorts Inaugurate 1.9 Billion Birr Property in Debre Berhan, Unveils East Africa Expansion Plans

Prime Capital Becomes Ethiopia’s Second Independent Investment Bank as ECMA Licenses Sixth Player in Category

EU and AfCFTA Formalize $1.43 Billion Partnership to Drive African Economic Integration

Russia Tightens Grip on African Wheat Market as Ukraine Opens First Agrohub in Ghana