@WorldBankAfrica – Page 3 – Ethiopian Business Review

Copy-of-White-Minimalist-Economics-Headline-News-Instagram-Post-14.png

Ethiopian Engineering Corporation (EEC) reported a 60% year-over-year revenue growth, reaching 5.5 billion ETB in the first nine months of the 2024/25 fiscal year. The state-owned enterprise delivered 96 design projects, 251 contract supervision assignments, and 36 construction projects—achieving 88% physical and 101% financial performance.

The figures were presented during a high-level performance dialogue and site visit led by Ethiopian Investment Holdings (EIH) at EEC headquarters. The review focused on operational performance, strategic investment planning, and market diversification.

Among the 54 completed design and supervision projects and 22 completed construction projects are critical national developments, including the Sendafa Forensic DNA Laboratory, Bole Arabsa Wastewater Treatment Plant, National Bank Cash Center, Phase I Corridor Development, and initiatives under the “Dine for Generation” program.

EEC’s international expansion into Tanzania and Nigeria with road and water engineering consultancy services signals growing regional ambition. The company’s performance reflects its operating ethos—“Collaboration, Innovation & Deliver”—and underscores its role in Ethiopia’s infrastructure modernization.

EIH commended the results while urging EEC to deepen its focus on long-term investments, diversify its financing sources, and strengthen its foothold in foreign markets to broaden its client base and reduce overreliance on public contracts.

Copy-of-White-Minimalist-Economics-Headline-News-Instagram-Post-6.png

Cooperative Bank of Oromia (Coopbank) has achieved what its CEO described as an “unbelievable” milestone in expanding women’s access to finance, disbursing ETB 24.5 billion to 1.47 million loan accounts, 80% of which are held by women.

The announcement was made by CEO Derbie Asfaw during a panel discussion under the theme “Promoting Women’s Access to Finance” at the Ethiopia Finance Forum 2025, an event that brought together key stakeholders in the financial sector to address gender disparities and promote inclusive growth.

A major contributor to this achievement is Coopbank’s women-focused loan platform, Michu Kiya, which was launched just eight months ago. Since its introduction, the platform has disbursed ETB 7.3 billion to over one million accounts, signaling rapid uptake and a significant demand for targeted financial services among women.

“This is unbelievable for me,” said Derbie. “At Coopbank, we believe innovation isn’t just a tech solution, and financial inclusion isn’t a compliance box—both are part of our purpose to empower communities and transform lives.”

The milestone comes as Coopbank celebrates 20 years of operation, having grown into a ETB 189.4 billion financial institution. Over two decades, the bank has carved out a strong reputation for inclusive banking, now serving 17 million customers across Ethiopia.

Copy-of-White-Minimalist-Economics-Headline-News-Instagram-Post-5.png

Three of the country’s state-owned financial institutions—the National Bank of Ethiopia (NBE), the Commercial Bank of Ethiopia (CBE), and the Development Bank of Ethiopia (DBE) have jointly launched the Financial Sector Strengthening Project (FSSP), a USD700 million initiative financed by the World Bank.

The project’s first disbursement, amounting to USD250 million, was transferred today to the Commercial Bank of Ethiopia , signaling the operational kickoff of the reform agenda.

Announced during the Ethiopia Finance Forum, the FSSP is aimed at enhancing the resilience, inclusiveness, and functionality of Ethiopia’s financial sector. It focuses on regulatory reform, institutional capacity building, and expanding access to finance—particularly for underserved communities and high-impact sectors such as agriculture and manufacturing.

Copy-of-White-Minimalist-Economics-Headline-News-Instagram-Post-4.png

The Ethiopia Finance Forum 2025 officially opened yesterday at the Museum of Art and Science in Addis Ababa, gathering over 150 financial institutions, senior policymakers, and international experts to deliberate on the future of Ethiopia’s financial landscape.

During a high-profile panel on “Financial Inclusion and Deepening: Progress So Far and Priorities Ahead,” Abe Sano, President and CEO of the Commercial Bank of Ethiopia (CBE), offered a frank assessment of the bank’s efforts to broaden access to finance.

“Access to finance is something we should have done more about—especially for underserved communities,” Sano admitted. “We have long focused on empowering state-owned enterprises and major business clients, but we recognize the need to do more for individuals and MSMEs.” The CBE has yet to establish a presence in 270 woredas across the country.

Abe emphasized that while CBE currently serves about 140,000 personal borrowers and only 10,000 under commercial finance, the bank has financed over 782,000 customers with ETB 8.8 billion through digital channels. He added that CBE is not detached from digital transformation efforts like Telebirr: “We’re financiers behind those platforms as well.”

Notably, Abe highlighted the bank’s recent digital financing initiative for farmers, which has onboarded more than 927,000 users in Oromia and disbursed ETB 14 billion in loans. In the housing sector, CBE financed 349,000 condominium units worth ETB 112 billion. However, he conceded that support for micro and small businesses remains limited, with just 9,000 MSME borrowers. “That’s an area we need to scale up significantly,” he stated.

On the savings front, CBE’s outreach to women has seen considerable success. “We now have over 8 million women savers, holding ETB 145 billion in deposits,” Sano revealed.

Copy-of-White-Minimalist-Economics-Headline-News-Instagram-Post-2.png

The European Investment Bank (EIB) and the National Bank of Ethiopia (NBE) have signed a Memorandum of Understanding (MoU) aimed at strengthening collaboration in support of Ethiopia’s green and sustainable development ambitions.

The agreement, signed by Deputy Governor of the NBE, Solomon Desta, and Leyla Traoré, the EIB’s Representative for Ethiopia and the African Union, marks a key milestone in deepening the relationship between the two institutions.

Deputy Governor Solomon emphasized that the MoU is a significant step toward fostering greater cooperation and aligning efforts to build a more inclusive and environmentally resilient economy. He noted that the EIB’s commitment will play a pivotal role in Ethiopia’s transition toward a greener future.

Leïla Traoré highlighted the country’s progress in the green development agenda and commended Ethiopia’s leadership in this area. She also reaffirmed the EIB’s readiness to continue supporting Ethiopia’s climate-focused reforms and sustainable finance initiatives.

The MoU builds on high-level discussions held in April between Ethiopia’s Finance Minister, Ahmed Shide, and EIB Vice President Ambroise Fayolle. Those talks focused on expanding collaboration across vital sectors. The EIB expressed interest in financing Ethiopia’s planned new international airport—a critical infrastructure project poised to enhance connectivity and economic growth.

The Ethiopia Finance Forum 2025 officially kicked off this morning at the Ethiopia Museum of Art and Science, bringing together a diverse array of stakeholders from the financial sector, senior government officials and global industry leaders. The two-day event, hosted by the National Bank of Ethiopia (NBE), is set to feature over 150 financial institutions, policymakers, development partners, and industry leaders.

The opening ceremony was marked by the presence of President Taye Atske Selassie and Mamo Mihretu, Governor of the National Bank of Ethiopia, both of whom underscored the forum’s significance in charting a new course for the country’s financial landscape.

In a historic announcement, Governor Mamo revealed that government borrowing from the National Bank has dropped to zero for the first time in 12 years. He recalled that Ethiopia’s financial sector has faced numerous challenges, including high inflation and severe foreign currency shortages. To address these issues, he said, the country has embarked on a comprehensive macroeconomic reform agenda.

Governor Mamo noted that efforts to realize the macroeconomic reform vision have already yielded results, including easing the foreign currency crunch and laying the groundwork for a stronger private financial sector.

He added that the reform has helped make Ethiopia’s financial system more competitive, market-oriented, and digitized, with improved security and efficiency.

PresidentTaye Atsikaselasi, in his remarks, praised the NBE’s leadership in fostering economic reform and encouraged deeper collaboration between regulators, investors, and citizens to support sustainable financial development. He also recommended three critical need for Ethiopia’s financial sector to broaden its client base and geographic reach, lead the nation’s digital transformation, and promote financial inclusivity to sustain growth.

The Ethiopia Finance Forum 2025 continues tomorrow with breakout sessions, panel discussions, and networking events. Participants are expected to deliberate on fintech innovation, public-private partnerships, ESG finance, and regional financial integration.

The Ministry of Transport and Logistics, in partnership with Ethio telecom, has officially launched three national digital systems: the Cross-Country Public Transport Service System, the Integrated Fuel Supply System Solution, and the National Traffic Point-Based Penalty Management System.

These comprehensive platforms are designed to significantly enhance Ethiopia’s transport infrastructure, modernise public service delivery, and foster transparency across the fuel and traffic management chains.

The Cross-Country Public Transport Service System introduces a unified digital framework for managing bus ticketing, licensing, compliance, and payments. Travellers can now book and pay for tickets using their mobile phones, in multiple local languages including English, via platforms such as telebirr and other financial institutions. This solution is set to reduce delays, prevent fraud, improve data transparency, and enhance the overall efficiency of public transport nationwide.

The Integrated Fuel Supply System Solution enables fuel stations across the country to accept payments from all banks and wallets, offering real-time data integration for government oversight. By connecting all financial institutions with a central fuel management system, it improves market control, curbs illicit fuel trade, and ensures accountability from distribution to retail. Drivers can now refuel anywhere in Ethiopia using their preferred digital payment method.

The National Traffic Point-Based Penalty Management System digitises the enforcement of traffic laws, replacing outdated manual systems. It facilitates centralised recording of driver data, tracks infractions through a point-based mechanism, and streamlines penalty payments. This modern system is expected to promote safer roads, improve legal compliance, and support policymaking with reliable data. It also reduces the administrative burden on regional transport offices and supports integration via Ethio telecom’s TeleCloud without additional infrastructure investment.

Ethio telecom emphasised that the systems were developed by local private software developers and feature full API integration for interoperability with financial institutions.

White-Minimalist-Economics-Headline-News-Instagram-Post-2025-05-14T144830.692.png

Ethiopia has recorded its highest-ever coffee export revenue, with the sector generating USD 1.868 billion over the past ten months of the current fiscal year — a historic milestone for the nation’s most iconic export.

The Ethiopian Coffee and Tea Authority announced today that 354,302 tonnes of coffee were exported during the period, exceeding the national target by 147% in volume and 142% in revenue. This performance surpasses all previous annual records in the country’s export history.

According to Dr Adugna Debela, Director General of the Authority, the figures represent an increase of 70% in volume and 87% in revenue compared to the same period last fiscal year. The sector exported 145,316.3 more tonnes, generating an additional USD 869.13 million, reflecting both growing global demand and Ethiopia’s enhanced export capacity.

Dr Adugna highlighted that Germany, Saudi Arabia, and the United States ranked as the top three destinations for Ethiopian coffee exports during the reporting period. Germany imported 61,239 tonnes, contributing USD 295 million (17% of total revenue), followed closely by Saudi Arabia with 60,182 tonnes valued at USD 290.7 million (20%), and the United States with 28,299 tonnes accounting for USD 192 million (10%).

“This outstanding achievement is the result of a well-coordinated national effort,” said Dr Adugna. “From farmers and cooperatives to exporters, regional authorities, and federal institutions — all stakeholders played a vital role. We are deeply grateful for their commitment and determination.”

He further expressed optimism that the final two months of the fiscal year will build upon this momentum, reinforcing Ethiopia’s status as a world leader in premium coffee production.

White-Minimalist-Economics-Headline-News-Instagram-Post-2025-05-13T130818.506.png

The House of People’s Representatives has approved a series of critical agreements aimed at accelerating Ethiopia’s development across key sectors, during its 29th regular session of the 6th Parliament’s 4th year.

The House ratified two major loan agreements, endorsed the establishment of a pan-African finance institution, and approved a new air transport accord with a European partner. The proclamations were presented by Assistant Minister of State for Finance, Meseret Haile, who requested that they be moved directly to second reading. Following strong support from parliamentarians, the House deliberated on the proclamations in detail and granted approval.

Among the approvals was a budget support loan agreement with the Government of Italy, aimed at enhancing Ethiopia’s environmental sustainability and green economy goals. Another agreement, signed with the International Development Association, will support the country’s Education Sector Transformation Program, a key pillar in human capital development.

The House also ratified the agreement establishing the African Finance Corporation, with only three abstentions. Concluding the session, lawmakers unanimously endorsed a bilateral air transport agreement with the Federal Government of Austria, a move expected to bolster air connectivity and aviation cooperation.

Ethiopia is actively courting global investors with bold economic reforms and sectoral liberalization, as it hosts the Invest in Ethiopia – High-Level Business Forum 2025 in Addis Ababa from May 12–13. The event brings together international investors, senior government officials, and development partners to explore opportunities in priority sectors such as renewable energy, agribusiness, ICT, and manufacturing.

Organized by the Ethiopian Investment Commission (EIC), the Ministry of Finance, and the Development Partners Group, the two-day forum signals Ethiopia’s firm commitment to private sector-led growth. The country’s 8.1% GDP growth in 2024 and recent policy reforms have positioned it as one of Africa’s top destinations for investment.

The Forum features high-level ministerial roundtables, sector panels, networking sessions, and the official launch of a new Investment Deal Book, aimed at enhancing transparency and deal-making for foreign investors.

In his opening remarks, President Taye Atske Selassie emphasized the government’s efforts to improve the investment climate by addressing long-standing challenges in foreign direct investment (FDI). “Reforms have been designed to attract FDI, sustain growth, and drive structural transformation,” he noted, adding that infrastructure development and investor-friendly policies are being prioritized to meet Ethiopia’s goal of becoming Africa’s leading economy by 2030.

“We believe we are on the right track to ensure macro-financial stability,” he added. “Our reforms are fundamentally reimagining Ethiopia’s economic future.”

Foreign Minister Gedion Timothewos (PhD) echoed the president’s message, stating that Ethiopia’s young, energetic population, improved logistics, and rapid development of industrial parks make it a natural hub for international investment. He encouraged investors to explore opportunities not just in traditional sectors, but also in mining, energy, and tourism.

Finance Minister Ahmed Shide underlined the importance of macroeconomic stability and structural reforms. “Opening up sectors like telecom, finance, and logistics is already yielding results,” he said. He also highlighted the launch of the Ethiopian capital market as a game-changer in deepening private-sector participation.

EIC Commissioner Zeleke Temesgen Boru (PhD) reported that new investors from 59 countries are participating in the forum—a sign of growing international confidence. He stressed the government’s readiness to provide full support to investors and ensure predictability in policy implementation.

A presentation by Planning and Development Minister Dr. Fitsum Assefa showcased Ethiopia’s natural resources, strategic location, and investment-ready infrastructure, reinforcing the country’s competitive edge in attracting quality investments.

With AfCFTA integration on the horizon, Ethiopia is positioning itself as a regional gateway for investors seeking access to Africa’s fast-growing markets.

Newer Posts

Older Posts

Ethiopian Engineering Corporation Posts 60% Revenue Surge, Expands into Regional Markets

Coopbank CEO Hails ‘Unbelievable’ Milestone in Women’s Financial Inclusion

Three State-Owned Banks Unite for USD700M Financial Sector Reform

CBE’s Abe Sano Admits Gaps in Financial Inclusion, Highlights Billions in Strategic Lending

EIB and National Bank of Ethiopia Sign MoU to Boost Sustainable Development

Ethiopia Finance Forum 2025 Opens with Zero Borrowing Milestone

Ethiopia Unveils Nationwide Digital Systems to Transform Transport, Fuel and Traffic Management

Ethiopia Breaks Coffee Export Record, Earning USD 1.87 Billion

Ethiopian Parliament Approves Major Loan and Partnership Agreements

Ethiopia Opens Doors to Global Investors in Energy, ICT, Manufacturing, and Agribusiness