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Ethiopian Business Review

EBR is an expertly and independently written, masterfully designed, and well-circulated magazine.

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01
Safaricom Taps Ethiopia's Upcoming Bond Market to Support Expansion Safaricom, Kenya's telecommunications giant, is eyeing Ethiopia's nascent bond market to fuel its ambitious expansion into the country. After securing a landmark USD 850 million license in 2021 to operate in Ethiopia, the first time it has ventured outside its home market, Safaricom has made significant strides. The company now boasts 4.4 million active mobile subscribers and 4.5 million M-Pesa mobile money users in Ethiopia. Its extensive infrastructure, including 2,806 telecommunication towers and 62,700 active agents, has enabled it to reach a substantial portion of Ethiopia's population. Read More: https://ethiopianbusinessreview.net/safaricom-taps-ethiopias-upcoming-bond-market-to-support-expansion/
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When Faith Meets Fashion Exploring Ethiopia's Unique Ramadan Style The holy month of Ramadan transcends religious practice, shaping spiritual observances and fashion trends. During this sacred period, the demand for modest clothing surges, reflecting religious requirements and global fashion influences. This dynamic interplay is transforming Ethiopia’s Ramadan fashion landscape, with a growing presence of imported garments and locally tailored designs catering to this evolving demand. EBR’s Nejat Ahmed delves into the intricate connections between faith, style, and the fashion choices of Ethiopian Muslims during Ramadan. Read more: https://ethiopianbusinessreview.net/when-faith-meets-fashion/
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Islam's Safe Haven, Sacred Al Najashi Mosque, its Fight for Survival The Al Nejashi Mosque, situated in Ethiopia’s northern town of Negash, holds immense historical and religious importance. Recognized as one of Africa’s earliest mosques and among the oldest globally, it bears the name of King Negash. The mosque is a powerful symbol of compassion and support, a testament to the king’s act of refuge for the early Muslim followers (Sahabah) persecuted by Mecca’s Quraysh tribe. This act led to the establishment of the first Muslim settlement in Negash. The mosque embodies Ethiopia’s warm welcome to these early Muslims and the nation’s deep-rooted historical ties to Islam. Despite its rich heritage, the Tigray region, where Negash is located, has faced significant challenges in attracting tourists due to the recent devastating civil war and ongoing conflict. Efforts to promote tourism, including the mosque’s restoration by the Turkish government, have been hampered, EBR’s Samuel Getachew, who visited the site to compile this report, highlights. Read more: https://ethiopianbusinessreview.net/islams-safe-haven-sacred-al-najashi-mosque-its-fight-for-survival/
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A New Era for Financial Inclusion Ethiopia's Growing Interest-Free Banking Brings Transformative Change Ethiopia’s financial sector is undergoing a significant transformation, with Islamic banking emerging as a critical driver of inclusion and economic empowerment. This surge responds directly to the substantial Muslim population’s demand for Sharia-compliant financial instruments. Previously absent, interest-free banking gained a foothold in 2011 through designated windows within conventional banks. Recognising its immense potential, Ethiopia took a bold step in 2020, permitting full-fledged Islamic financial institutions to be established. This regulatory shift opened doors for a broader range of Sharia-compliant products, fostering financial inclusion for unbanked Ethiopians. The impact extends beyond individual empowerment. Read more: https://ethiopianbusinessreview.net/a-new-era-for-financial-inclusion/
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Dashen Bank Recognized by IFC for Exceptional Global Trade Finance Program Dashen Bank has been honored by the International Finance Corporation (IFC), a division of the World Bank Group, for its outstanding global trade finance program. The IFC, during its 8th meeting held in Barcelona, Spain, officially announced Dashen Bank as the recipient of this prestigious accolade. Read more: https://ethiopianbusinessreview.net/dashen-bank-recognized-by-ifc-for-exceptional-global-trade-finance-program/
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Rekindling the Growth of Islamic Insurance Globally, Takaful - a Sharia-adherent insurance scheme - is registering unparalleled development. The product is being offered in the form of either family or general Takaful to cater to the need for protection and cooperation at times of risk. Takaful insurance became effective in Ethiopia on the 15th day of June 2020 with the issuance of the National Bank of Ethiopia’s (NBE) Directive No. STB/1/2020, a Directive to license a takaful operator or a takaful window operator. Conversely, the product is at the early introduction and premature stage, while a massive potential exists. Records in Ethiopia demonstrate that the expanding Muslim population is anticipated to be a driving force for the takaful market. However, the question lies with the availability of innovative and value-adding products apart from simply naming the existing conventional insurance products under the guise of Islamic insurance. Read more: https://ethiopianbusinessreview.net/rekindling-the-growth-of-islamic-insurance/
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𝐁𝐚𝐛𝐮𝐥 𝐊𝐡𝐞𝐲𝐞𝐫 𝐀 𝐆𝐚𝐭𝐞𝐰𝐚𝐲 𝐭𝐨 𝐆𝐨𝐨𝐝𝐧𝐞𝐬𝐬 Babul Kheyer, meaning “Gate of Good,” is a charitable organisation that has significantly impacted the lives of thousands of needy individuals. Founded by Hanan Mahmuda, a compassionate and determined woman, Babul Kheyer has become a beacon of hope for the underprivileged. The organisation showcases the transformative power of unity and selfless service through its daily provision of meals, assistance to needy people, and empowerment initiatives. In this article, EBR’s Eden Teshome delve into the origins of Babul Kheyer, its remarkable achievements, and the unwavering dedication of Hanan. Read more: https://ethiopianbusinessreview.net/babul-kheyer-a-gateway-to-goodness/
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𝐁𝐚𝐛𝐮𝐥 𝐊𝐡𝐞𝐲𝐞𝐫 𝐀 𝐆𝐚𝐭𝐞𝐰𝐚𝐲 𝐭𝐨 𝐆𝐨𝐨𝐝𝐧𝐞𝐬𝐬 Babul Kheyer, meaning “Gate of Good,” is a charitable organisation that has significantly impacted the lives of thousands of needy individuals. Founded by Hanan Mahmuda, a compassionate and determined woman, Babul Kheyer has become a beacon of hope for the underprivileged. The organisation showcases the transformative power of unity and selfless service through its daily provision of meals, assistance to needy people, and empowerment initiatives. In this article, EBR’s Eden Teshome delve into the origins of Babul Kheyer, its remarkable achievements, and the unwavering dedication of Hanan. Read more: https://ethiopianbusinessreview.net/babul-kheyer-a-gateway-to-goodness/
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Bilalul Habeshi Museum Relishing Ethiopia's Islamic Heritage Unveiling Ethiopia’s rich tapestry of Islamic history, the Bilalul Habeshi Museum in Addis Ababa is a testament to the nation’s enduring spiritual connection with the Islamic faith. This pioneering institution transcends the Museum’s role, transforming it into a repository of invaluable relics, manuscripts, and artefacts. Visitors encounter treasures like the revered letter attributed to Prophet Muhammad addressed to King Nejashi, a symbol of the historical bond between Ethiopia and early Islam. Beyond such singular pieces, the Museum boasts a diverse collection of ancient manuscripts and a captivating array of Ethiopian Islamic cultural artefacts. The Bilalul Habeshi Museum sheds light on the long-standing relationship between Ethiopia’s unique cultural identity and the Islamic world through these objects. EBR’s Abiy Hailu visited the Museum and reflects on its significance in preserving and promoting Ethiopia’s deep-rooted connection with Islam. Read more: https://ethiopianbusinessreview.net/bilalul-habeshi-museum-relishing-ethiopias-islamic-heritage/
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#advertisement Join us at the 6th agrofood Plastprintpack Ethiopia, an international trade exhibition organized by Prana Events and Germany's fairtrade. Opening tomorrow, this event is a must-attend for the agriculture, food, and beverage industry. Discover the latest in processing, packaging technologies, and plastic solutions. Turkish, Chinese, and Indian pavilions, along with 120+ distinguished companies from 12 countries, will showcase their innovations. Mark your calendar for May 16-18, 2024, at the Millennium Hall in Addis Ababa. Register now at https://bit.ly/agrofoodppp2024 and explore participants at https://lnkd.in/e27puKtG. For more details, visit www.agrofood-ethiopia.com or www.ppp-ethiopia.com. Contact us at 0929308363/64. Admission is free!
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Proliferation of Halal Business in Ethiopia Catering to Growing Demands, Values Ethiopia, known for its diverse cultural and religious tapestry, has recently experienced a significant surge in demand for Halal products and services. This trend reflects a growing awareness of Halal principles, particularly within the country’s substantial Muslim population, estimated at around 34%, according to various studies. This heightened awareness presents a significant market opportunity. Businesses increasingly recognise the demand for Halal-certified products, primarily focusing on food. However, the need for Halal-certified cosmetics, pharmaceuticals, and other goods is also emerging. This rise in Halal businesses presents exciting new avenues to boost exports, paving the way for increased investment and job creation. However, the expansion of the Halal business sector needs some help. Read more: https://ethiopianbusinessreview.net/proliferation-of-halal-business-in-ethiopia/
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📚 New Edition Alert: EBR Volume 129 🎺🌟 Dive into the mesmerizing world of music and innovation with our latest edition of EBR! Featuring the legendary Mulatu Astatke, the father of Ethio-Jazz, on our cover page interview. 🚀 Explore the transformative power of African startups and the emergence of GIIG Africa as a catalyst for shaping a global innovation hub. ⚡️ Buckle up for an electrifying read as we delve into the future of public transport in Addis Ababa. 💼🔒 Navigate the complex intersection of business and security as we shed light on the shadow of conflict in Ethiopia. ⚽️🌍 Discover how DSTV's deal is propelling Ethiopian football onto the international stage. 📖 With a myriad of other captivating articles covering diverse topics, EBR Volume 129 promises to keep you engaged. 🛍 Grab your copy of EBR Volume 129 today at leading supermarkets and bookstores. 📞 For more information, call +251 96 141 4141.
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Celebrating the Spirit of Ramadan Expos as Catalysts for  Commerce and Cultural Exchange As the holy month of Ramadan approaches, the anticipation for vibrant expos and bazaars celebrating this sacred time grows. These events, held in various countries worldwide, provide a unique platform for commerce, cultural exchange, and community engagement. One such event, the Ethio Ed Expo and Bazaar 2024, organized by 3E Events Pvt. Ltd., brought together manufacturers, traders, visitors, and the community at the Millennium Hall in Ethiopia. With over 100 exhibitors and a bustling crowd of more than 100,000 attendees, the expo created a lively and vibrant atmosphere where commerce and culture intertwined. Exhibitors showcased a wide array of products and services, while educational activities, competitions, and shows engaged and captivated attendees. Read more: https://ethiopianbusinessreview.net/celebrating-the-spirit-of-ramadan/
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It Hasn't Been Easy Journey for Professional, Leadership Excellence in a Male Dominated Media Landscape As a female journalist navigating the challenging terrain of a male-dominated sector, my journey has been marked by numerous obstacles and biases. From battling stereotypes to facing discrimination, I have encountered firsthand the unique challenges women in journalism often confront. The challenges I have gone through as a female journalist and breaking barriers in a male-dominated industry haven’t been easy. I still vividly remember my entry into the journalism sector as a fresh graduate in Economics, armed with little knowledge about the inner workings of the industry. It didn’t take long for me to realize that deeply ingrained gender stereotypes would become a significant obstacle in my path. From the early stages of my career, I felt underestimated and deemed less capable than my male colleagues. Read more: https://ethiopianbusinessreview.net/it-hasnt-been-easy-journey/
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Prepaid Hibir Mastercard Makes its Debut in Ethiopia Hibret Bank and Mastercard have partnered to introduce Prepaid Hibir Mastercard services in Ethiopia. This collaboration represents a significant milestone in Ethiopia's journey toward financial digitization. It’s said that the Prepaid Hibir Mastercard offers customers secure and convenient international banking experiences by providing access to foreign currency for overseas travel and international transactions wherever Mastercard is accepted. Read more:  https://ethiopianbusinessreview.net/prepaid-hibir-mastercard-makes-its-debut-in-ethiopia/
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Prepaid Hibir Mastercard Makes its Debut in Ethiopia Hibret Bank and Mastercard have partnered to introduce Prepaid Hibir Mastercard services in Ethiopia. This collaboration represents a significant milestone in Ethiopia's journey toward financial digitization. It’s said that the Prepaid Hibir Mastercard offers customers secure and convenient international banking experiences by providing access to foreign currency for overseas travel and international transactions wherever Mastercard is accepted. Read more: https://ethiopianbusinessreview.net/prepaid-hibir-mastercard-makes-its-debut-in-ethiopia/
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Naomi Girma Pioneering Equality in Women's Football Naomi Girma, a rising star born to Ethiopian parents in America, is taking the football world by storm with her extraordinary performances on both the club and international stages. In a groundbreaking achievement, she was crowned the best women’s national team player in the USA in 2023, becoming the first defender ever to claim this prestigious award in its 39-year history. What’s more, Naomi’s triumph also marked a significant milestone as she became only the second black player to achieve this remarkable feat. Naomi’s profound love for the beautiful game can be traced back to her father, who instilled a deep passion for football from a tender age. For Naomi, football has always been more than just a childhood pastime. It has been a powerful conduit through which she stays connected to her Ethiopian heritage. The vibrant Ethiopian community in the United States frequently gathers around the sport. Naomi found solace and a sense of belonging on the field, strengthening her bond with her roots. EBR’s Dr. Brook Genene delves into Naomi Girma’s mesmerizing journey as she ascends to the pinnacle of stardom. Read more: https://ethiopianbusinessreview.net/naomi-girma-pioneering-equality-in-womens-football/
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Ethiopia's Paradox A Legacy of Powerful Queens and Modern-Era Barriers to Women in Politics Ethiopia presents a fascinating paradox. Its history boasts a remarkable lineage of mighty queens, exemplified by the visionary leadership of Empress Taytu in securing victory at the battle of Adwa against Italian colonizers. The story of Queen of Sheba and Empress Zewditu further paints a positive history of women as leaders in Ethiopia. Yet, despite this legacy, deep-seated cultural norms and religious beliefs often confine women to domestic roles. This, compounded by the prevalent issue of gender-based violence, creates a formidable barrier to women’s entry and advancement in the political sphere. While Ethiopia holds a commendable position globally for women’s parliamentary representation, exceeding 40%, a closer look reveals a concerning reality. These seats are primarily filled through quotas rather than a robust system fostering organic advancement based on merit and capability. This crucial distinction exposes a fundamental flaw—quotas, while well-intentioned, often serve as a band-aid solution, failing to address the root causes of women’s underrepresentation. This approach ultimately limits women’s ability to exert genuine influence on policy formulation and decision-making processes. EBR’s Iliyas Kifle delves into how these entrenched hurdles can be overcome. He proposes initiatives that tackle the immediate symptoms and the underlying factors perpetuating the issue. Read more: https://ethiopianbusinessreview.net/ethiopias-paradox/
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Lidiya Solomon Rides with Yango as the Face of Tech-Driven Transportation in Ethiopia Yango, an international tech company that offers ride-hailing app-based services, has recently announced its collaboration with Lidiya Solomon, who will serve as the brand ambassador for the company in Ethiopia. Yango has been operating in over 20 countries and entered the Ethiopian market in October 2023 through a partnership with G2G IT Solutions, the licensed operator. During the signing ceremony, Dr. Yekenalem Abebe, Yango's Country Director, emphasized the company's presence in Ethiopia for the past seven months and its previous reliance on social media for promotional activities. He stated that the company has now reached a stage where partnering with a brand ambassador is crucial. "We firmly believe that Lidiya shares Yango's brand values and is committed to expanding affordable and safe transportation services in Ethiopia," he affirmed. Read more: https://ethiopianbusinessreview.net/lidiya-solomon-rides-with-yango/
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War's Invisible Toll Women Bear the Brunt of Trauma in Tigray Conflict The war in Ethiopia’s Tigray region was characterized by extreme brutality and widespread sexual violence, resulting in the victimization of thousands of women and girls. Despite the signing of a peace agreement, the issue of sexual violence remains unaddressed, mainly due to recurring famine and a lack of foreign aid. Survivors face significant challenges in accessing medical care and support, and many suffer in silence due to the stigma and societal taboos surrounding rape. In this article, EBR’s Samuel Getachew discusses the devastating impact of the war and highlights the obstacles survivors face in seeking assistance and addressing the issue. Read more: https://ethiopianbusinessreview.net/wars-invisible-toll/
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Safaricom Taps Ethiopia's Upcoming Bond Market to Support Expansion Safaricom, Kenya's telecommunications giant, is eyeing Ethiopia's nascent bond market to fuel its ambitious expansion into the country. After securing a landmark USD 850 million license in 2021 to operate in Ethiopia, the first time it has ventured outside its home market, Safaricom has made significant strides. The company now boasts 4.4 million active mobile subscribers and 4.5 million M-Pesa mobile money users in Ethiopia. Its extensive infrastructure, including 2,806 telecommunication towers and 62,700 active agents, has enabled it to reach a substantial portion of Ethiopia's population. Read More: https://ethiopianbusinessreview.net/safaricom-taps-ethiopias-upcoming-bond-market-to-support-expansion/
Show all...
Safaricom Taps Ethiopia’s Upcoming Bond Market to Support Expansion

Safaricom, Kenya’s telecommunications giant, is eyeing Ethiopia’s nascent bond market to fuel its ambitious expansion into the country. After securing a landmark USD 850 million license in 2021 to operate in Ethiopia, the first time it has ventured outside its home market, Safaricom has made significant strides.

Photo unavailableShow in Telegram
When Faith Meets Fashion Exploring Ethiopia's Unique Ramadan Style The holy month of Ramadan transcends religious practice, shaping spiritual observances and fashion trends. During this sacred period, the demand for modest clothing surges, reflecting religious requirements and global fashion influences. This dynamic interplay is transforming Ethiopia’s Ramadan fashion landscape, with a growing presence of imported garments and locally tailored designs catering to this evolving demand. EBR’s Nejat Ahmed delves into the intricate connections between faith, style, and the fashion choices of Ethiopian Muslims during Ramadan. Read more: https://ethiopianbusinessreview.net/when-faith-meets-fashion/
Show all...
When Faith Meets Fashion

The holy month of Ramadan transcends religious practice, shaping spiritual observances and fashion trends. During this sacred period, the demand for modest clothing surges, reflecting religious requirements and global fashion influences. This dynamic interplay is transforming Ethiopia’s Ramadan fashion landscape, with a growing presence of imported garments and locally tailored designs catering to this evolving demand.

Photo unavailableShow in Telegram
Islam's Safe Haven, Sacred Al Najashi Mosque, its Fight for Survival The Al Nejashi Mosque, situated in Ethiopia’s northern town of Negash, holds immense historical and religious importance. Recognized as one of Africa’s earliest mosques and among the oldest globally, it bears the name of King Negash. The mosque is a powerful symbol of compassion and support, a testament to the king’s act of refuge for the early Muslim followers (Sahabah) persecuted by Mecca’s Quraysh tribe. This act led to the establishment of the first Muslim settlement in Negash. The mosque embodies Ethiopia’s warm welcome to these early Muslims and the nation’s deep-rooted historical ties to Islam. Despite its rich heritage, the Tigray region, where Negash is located, has faced significant challenges in attracting tourists due to the recent devastating civil war and ongoing conflict. Efforts to promote tourism, including the mosque’s restoration by the Turkish government, have been hampered, EBR’s Samuel Getachew, who visited the site to compile this report, highlights. Read more: https://ethiopianbusinessreview.net/islams-safe-haven-sacred-al-najashi-mosque-its-fight-for-survival/
Show all...
Islam’s Safe Haven, Sacred Al Najashi Mosque, its Fight for Survival

The Al Nejashi Mosque, situated in Ethiopia’s northern town of Negash, holds immense historical and religious importance. Recognized as one of Africa’s earliest mosques and among the oldest globally, it bears the name of King Negash. The mosque is a powerful symbol of compassion and support, a testament to the king’s act of refuge for the early Muslim followers (Sahabah) persecuted by Mecca’s Quraysh tribe. This act led to the establishment of the first Muslim settlement in Negash. The mosque embodies Ethiopia’s warm welcome to these early Muslims and the nation’s deep-rooted historical ties to Islam.

Photo unavailableShow in Telegram
Photo unavailableShow in Telegram
A New Era for Financial Inclusion Ethiopia's Growing Interest-Free Banking Brings Transformative Change Ethiopia’s financial sector is undergoing a significant transformation, with Islamic banking emerging as a critical driver of inclusion and economic empowerment. This surge responds directly to the substantial Muslim population’s demand for Sharia-compliant financial instruments. Previously absent, interest-free banking gained a foothold in 2011 through designated windows within conventional banks. Recognising its immense potential, Ethiopia took a bold step in 2020, permitting full-fledged Islamic financial institutions to be established. This regulatory shift opened doors for a broader range of Sharia-compliant products, fostering financial inclusion for unbanked Ethiopians. The impact extends beyond individual empowerment. Read more: https://ethiopianbusinessreview.net/a-new-era-for-financial-inclusion/
Show all...
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Dashen Bank Recognized by IFC for Exceptional Global Trade Finance Program Dashen Bank has been honored by the International Finance Corporation (IFC), a division of the World Bank Group, for its outstanding global trade finance program. The IFC, during its 8th meeting held in Barcelona, Spain, officially announced Dashen Bank as the recipient of this prestigious accolade. Read more: https://ethiopianbusinessreview.net/dashen-bank-recognized-by-ifc-for-exceptional-global-trade-finance-program/
Show all...
Rekindling the Growth of Islamic Insurance Globally, Takaful - a Sharia-adherent insurance scheme - is registering unparalleled development. The product is being offered in the form of either family or general Takaful to cater to the need for protection and cooperation at times of risk. Takaful insurance became effective in Ethiopia on the 15th day of June 2020 with the issuance of the National Bank of Ethiopia’s (NBE) Directive No. STB/1/2020, a Directive to license a takaful operator or a takaful window operator. Conversely, the product is at the early introduction and premature stage, while a massive potential exists. Records in Ethiopia demonstrate that the expanding Muslim population is anticipated to be a driving force for the takaful market. However, the question lies with the availability of innovative and value-adding products apart from simply naming the existing conventional insurance products under the guise of Islamic insurance. Read more: https://ethiopianbusinessreview.net/rekindling-the-growth-of-islamic-insurance/
Show all...
Rekindling the Growth of Islamic Insurance

Globally, Takaful – a Sharia-adherent insurance scheme – is registering unparalleled development. The product is being offered in the form of either family or general Takaful to cater to the need for protection and cooperation at times of risk. Takaful insurance became effective in Ethiopia on the 15th day of June 2020 with the issuance of the National Bank of Ethiopia’s (NBE) Directive No. STB/1/2020, a Directive to license a takaful operator or a takaful window operator. Conversely, the product is at the early introduction and premature stage, while a massive potential exists. Records in Ethiopia demonstrate that the expanding Muslim population is anticipated to be a driving force for the takaful market. However, the question lies with the availability of innovative and value-adding products apart from simply naming the existing conventional insurance products under the guise of Islamic insurance.

Photo unavailableShow in Telegram
𝐁𝐚𝐛𝐮𝐥 𝐊𝐡𝐞𝐲𝐞𝐫 𝐀 𝐆𝐚𝐭𝐞𝐰𝐚𝐲 𝐭𝐨 𝐆𝐨𝐨𝐝𝐧𝐞𝐬𝐬 Babul Kheyer, meaning “Gate of Good,” is a charitable organisation that has significantly impacted the lives of thousands of needy individuals. Founded by Hanan Mahmuda, a compassionate and determined woman, Babul Kheyer has become a beacon of hope for the underprivileged. The organisation showcases the transformative power of unity and selfless service through its daily provision of meals, assistance to needy people, and empowerment initiatives. In this article, EBR’s Eden Teshome delve into the origins of Babul Kheyer, its remarkable achievements, and the unwavering dedication of Hanan. Read more: https://ethiopianbusinessreview.net/babul-kheyer-a-gateway-to-goodness/
Show all...