Ethiopian Business Review
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پست‌های کانال
National Bank Offers USD 140 Million at 31st Foreign Exchange Auction
#EBR_News Oct 26, 2026
The National Bank of Ethiopia (NBE) has announced that it will offer USD 140 million to commercial banks in its 31st foreign exchange auction, scheduled for tomorrow, Tuesday, October 27, 2026.
According to the notice, interested banks will submit their bids through the Central Securities Depository (CSD)-based FX auction system between 10:00 AM and 12:00 noon. The central bank will announce the results at 3:00 PM, with settlement due by the end of the day on October 27.
The allocation matches the USD 140 million offered in the previous auction, held on October 13, 2026. That round was USD 15 million higher than the USD 125 million that had been offered in each of the earlier regular auctions.
The previous auction drew strong interest from lenders. Banks submitted bids totalling USD 152.09 million, exceeding the amount on offer by USD 12.09 million, according to the results of Auction No. 30.
The outcome reversed the trend of the two preceding rounds, both of which were undersubscribed, with bids of USD 123.49 million in Auction No. 29 and USD 120 million in Auction No. 28.
In that auction, the marginal, or cut-off, rate was 158.1724 birr per US dollar, while the weighted average rate of successful bids stood at 160.1072 birr per dollar. A total of 29 banks participated, and 26 of them secured foreign currency.
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| 2 |  بدون متن... | 552 |
| 3 | WFP Faces $251 Million Funding Gap, Keeps Food Rations at 60%
#EBR_News Oct 26, 2026
The World Food Programme (WFP) says its Ethiopia operation faces a $251 million funding gap for the six months from November 2026 to April 2027, at a time when El Niño-related weather shocks, insecurity and displacement are raising food needs.
According to the agency's October 2026 Ethiopia Country Brief, requirements for the period are only 46 percent funded. The brief adds that humanitarian needs are expected to stay elevated into early 2027, while funding shortfalls continue to constrain the response.
The scale of the work is already large. The brief says WFP reached around 2.1 million food-insecure people in September, up from 1.9 million in August, delivering 14,212 metric tonnes of food and $4.5 million in cash assistance.
Women made up 45 percent of those assisted. Within that total, the agency reported helping 407,000 crisis-affected people in the Somali and Gambella regions, equal to 80 percent of its monthly target there, and 762,335 refugees across 30 camps.
Limited resources are already forcing hard choices. According to the brief, WFP kept cereal distributions at 60 percent of the standard ration, equivalent to 9 kg per person, while preserving full rations of pulses and vegetable oil.
Refugees who have lived in the country for long periods also receive 60 percent rations because of funding limitations, while newly arrived Sudanese and South Sudanese refugees continue to receive full rations given their greater vulnerability. Ethiopia hosts over 1.13 million refugees and asylum-seekers, the brief notes.
The agricultural outlook adds to the pressure. The report says El Niño-related rainfall deficits have made the Kiremt rains uneven, helping crop development in western areas but hurting production, pasture and water availability in parts of Tigray, Amhara, Afar and eastern Oromia
The Meher harvest is expected to improve food availability in surplus areas, the brief states, but drought-affected households are likely to face reduced harvests, earlier depletion of stocks and continued dependence on markets. Food inflation, which the report lists among the factors heightening food security concerns, makes that dependence more costly.
In the south and southeast, the brief says above-normal October to December rainfall may improve pasture and water, but also raises the risk of flooding, displacement, infrastructure damage and disease outbreaks.
WFP said it is preparing for El Niño-related flooding in the Somali Region, either through anticipatory action or by expanding its support to the government's Productive Safety Net Programme (PSNP). Supporting an estimated 100,000 people with three rounds of multipurpose cash transfers would cost about $1.3 million, according to the document.
Operations are also being hampered on the ground. The brief reports that hostilities have disrupted supply routes and delayed food assistance in some regions, while insecurity, transport constraints and fuel shortages have interrupted distributions. In Amhara, insecurity disrupted teaching and school feeding in 45 schools.
WFP is nonetheless preparing to launch distributions for 223,100 people in Afar, Amhara and Tigray once cooperating partners are onboarded, focusing on districts with acute needs linked to El Niño. It also says targeting for the sixth phase of the PSNP remains delayed in all regions because updated poverty data is unavailable.
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| 4 |  بدون متن... | 629 |
| 5 | Afreximbank's Nine-Month Net Income Jumps 24% to $813.5 Million as Lending Expands
#EBR_News Oct 26, 2026
The African Export-Import Bank (Afreximbank) has reported a 24% rise in net income to $813.5 million for the nine months ended 30 September 2026, up from $654.3 million in the same period last year. According to a press release issued by the Cairo-based lender on Monday.
The bank's total assets and contingencies rose by 12% to $54.1 billion, from $48.5 billion at the end of 2025, the press release states. Net loans and advances grew by 8% to $36.2 billion, compared with $33.5 billion at year end.
Average loan balances climbed from $28.9 billion in the first nine months of 2025 to $34.8 billion this year, which the bank attributed to sustained demand for trade and project finance among its member countries.
Gross income increased by 11% to $2.7 billion, according to the release, with interest income up 9.1% to $2.4 billion. Net interest income, which is the gap between what the bank earns on loans and what it pays on funding, strengthened by 15% to $1.5 billion. Fees and commissions from unfunded activities such as guarantees, letters of credit and advisory services rose to $136.9 million from $117.2 million a year earlier.
On efficiency and asset quality, the bank said its cost-to-income ratio improved to 20% from 21%, well within its internal ceiling of 30%. Return on average assets improved to 2.48% from 2.34%, while return on average equity held at 12%. The non-performing loan ratio edged up to 2.48% from 2.43% at the end of last year, and provisions for expected credit losses rose to $537.6 million from $481.3 million, the bank disclosed.
Afreximbank also reported a stable funding and capital position. Liquid assets stood at $6.1 billion, or 13% of total assets, down from 15% at the end of 2025, while the capital adequacy ratio eased to 22% from 23%. Shareholders' funds rose to $9.0 billion from $8.4 billion, supported by retained profits and $195.2 million in new equity contributions under its General Capital Increase programme.
In July, the bank completed a $1.5 billion dual-tranche bond, split equally between 5.5-year and 10-year notes, which it said was about two times oversubscribed, lifting debt securities in issue to $4.4 billion from $3.4 billion.
The lender said it continued to play a countercyclical role during geopolitical and economic disruption, pointing to its $10 billion Gulf Crisis Response Programme, designed to provide liquidity support, facilitate trade and payment flows, and help member countries keep access to imports such as energy, fertilisers and food.
High-impact investments increased by 23% to $1.6 billion. "This performance underscores Afreximbank's ability to deliver strong and sustainable performance while continuing to fulfil its development mandate," Denys Denya, the bank's Senior Executive Vice President, said in the release.
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| 6 |  بدون متن... | 583 |
| 7 | Kenya opens $1.17 billion port concessions to private investors in Mombasa and Lamu
#EBR_News Oct 26, 2026
Kenya is preparing to open some of its most strategic maritime assets to private operators under a concession programme expected to attract about $1.17 billion in investment, according to figures disclosed by the National Treasury.
The programme covers terminals and cargo facilities at the ports of Mombasa and Lamu, as well as inland container depots, and marks a significant shift in how the country manages the gateways that serve much of East Africa.
The Treasury said the first phase is estimated to cost about $615 million (KSh79.69 billion), with the state-owned Kenya Ports Authority (KPA) contributing $60 million (KSh7.79 billion), Business Daily reported.
Private investors will provide the remaining capital and develop and operate the facilities through public-private partnerships, paying concession fees to the authority. The phase includes Mombasa berths 11 to 14, Mombasa Container Terminal I, Lamu Container Terminal berths one to three and the Lamu Special Economic Zone.
A second phase, valued at about $618 million (KSh80 billion), is also being prepared, according to Business Insider Africa and Splash247, which cited the Treasury figures. It would cover Mombasa Container Terminal II, Mbaraki Wharf, several cargo berths and inland container depots in Embakasi and Naivasha.
Together, the two phases are expected to draw KSh151.9 billion, or roughly $1.17 billion, in private capital, a figure that excludes the KPA contribution. The Treasury approved the feasibility report for the first phase in August, clearing the authority to begin competitive procurement.
The concessions will follow a landlord port model, under which KPA retains ownership of the land and foundational infrastructure while private concessionaires finance, build and run individual terminals. The Treasury argued that the assets share access channels, yards and logistics systems, and should therefore be structured as a portfolio rather than through separate deals.
Splash247 reported that redeveloping Mombasa's berths 11 to 14 could lift annual container capacity from about 300,000 twenty-foot equivalent units (TEU), the standard measure of container volume, to 900,000 TEU, with dredging and berth realignment allowing larger vessels to call. Lamu's first three berths have a combined design capacity of 1.2 million TEU.
Mombasa is the main entry point for Kenya and landlocked neighbours including Uganda, Rwanda and South Sudan, while Lamu is central to Kenya's plan for a northern corridor linking its coast with Ethiopia and South Sudan.
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| 9 | Ethiopia Becomes Third-Largest Buyer of Russian Fertiliser, TASS Reports
#EBR_News Oct 26, 2026
Ethiopia is now the third-largest importer of Russian fertilisers worldwide, Russia's Ambassador to Ethiopia, Yevgeny Terekhin, has said, according to Russian state news agency TASS. Terekhin made the remarks in an interview with TASS ahead of the Russia-Africa summit.
TASS reported that diammonium phosphate (DAP) is the main item in Ethiopia's purchases from Russia. Terekhin said the state-owned procurement company has an annual demand of 1.2 million metric tonnes of the product.
He attributed Ethiopia's ranking to Russian producers consistently meeting their contracted volumes this year, and added that Moscow is exploring ways to expand the presence of Russian companies in Ethiopia's agrochemical market.
The rise appears sharp when set against earlier trade records. According to the United Nations COMTRADE database, Ethiopia imported fertilisers worth about $1.2 billion in 2023, with Morocco supplying $674.2 million (56.3 percent), Egypt $317.1 million (26.5 percent) and Oman $98.4 million (8.2 percent). China and Nigeria followed with $43.8 million and $35.4 million respectively.
Russia's recorded sales to Ethiopia that year were only about $19,250, which suggests Russian shipments have grown considerably since then.
Ethiopia's heavy reliance on imports explains why suppliers are competing for the market. A market analysis titled Ethiopia Fertilizers Market 2026 Analysis and Forecast to 2035 estimates that 85 to 90 percent of the country's fertiliser supply comes from international procurement.
According to the report, urea and DAP blends account for roughly 60 to 70 percent of national volumes, while smallholder farmers make up 85 to 95 percent of end-use demand. It identifies foreign-exchange scarcity as the biggest supply bottleneck, noting that it delays import payments and causes periodic stockouts during planting seasons.
The report also projects that demand will grow by 6 to 9 percent annually, which would amount to a 50 to 80 percent expansion by 2035 compared with the 2026 baseline.
Ethiopia is, however, moving to reduce that exposure. Under a shareholders' agreement signed in August 2025, Dangote Group holds 60 percent of a planned urea plant in Gode, in the Somali Region, while Ethiopian Investment Holdings (EIH), the government's strategic investment arm, holds the remaining 40 percent.
The plant is designed to produce 3 million tonnes of urea a year, using gas from the Calub and Hilala fields delivered through a dedicated pipeline.
Construction officially began in October 2025, with commissioning targeted after about 40 months, which points to early 2029. Reports indicate that the cost has risen from an original estimate of $2.5 billion to more than $4 billion as the scope has widened to include a 110-kilometre pipeline, a 120 MW power plant and a 2-million-tonne NPK blending facility, though sources differ on the final figure.
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| 10 |  بدون متن... | 693 |
| 11 | Mesob One-Stop Service to Launch in IPDC-Managed Industrial Parks Within a Month
#EBR_News Oct 26, 2026
The Mesob One-Stop Service is set to begin operating in Special Economic Zones and industrial parks managed by the Industrial Parks Development Corporation (IPDC) in less than a month, according to the corporation's Chief Executive Officer, Fitsum Ketema.
Fitsum made the announcement during a meeting between an IPDC delegation and the leadership of the Federal Democratic Republic of Ethiopia's Mesob One-Stop Service, held to discuss preparations for the launch at Bole Lemi Special Economic Zone, according to the IPDC.
Speaking at the meeting, Fitsum said the one-stop service arrangements currently operating in IPDC-managed investment hubs have not fully met investors' needs for comprehensive investment-related services. He pointed to the absence of some relevant government institutions from the service centres as a major challenge, which has meant investors cannot access all the essential services in one place.
To close these gaps, IPDC has been consulting the Mesob One-Stop Service and other stakeholders to build a more comprehensive and efficient service delivery system across its hubs, the corporation said.
The service is expected to improve access to government services for investors, employees working in the parks and zones, and surrounding communities, while also streamlining administrative procedures and improving the investment climate.
IPDC currently administers 14 Special Economic Zones and industrial parks nationwide. According to the corporation, more than 320 investors operate within these hubs, which have created jobs for over 100,000 citizens.
Mesob, short for Modern Ethiopian Services for Organized Benefit, is Ethiopia's integrated digital and physical public service centre, bringing services from several federal institutions under one roof. In its pilot phase, the platform integrates 12 federal institutions offering 41 services, including national ID issuance, immigration, tax registration, trade and investment facilitation, document authentication and banking services through the Commercial Bank of Ethiopia.
The service operates under the Federal Civil Service Commission and is regulated by Council of Ministers Regulation No. 583/2026, which aims to improve speed, transparency and accountability, and to standardize service delivery.
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| 12 |  بدون متن... | 828 |
| 13 | Zamzam Bank Reports 1.56 Billion Birr Pre-Tax Profit for the 2025/26 Financial Year
#EBR_News 25, 2026
Zamzam Bank convened its sixth ordinary and fifth extraordinary general shareholders' meeting at the Adwa Memorial Museum on October 25, 2026, to present its operational performance report for the 2025/26 financial year.
For the 2025/26 financial year, the bank reported a pre-tax profit of 1.56 billion birr, alongside total operating income exceeding 3 billion birr. Financial reporting indicates that the pre-tax earnings represent a growth rate compared to the previous fiscal period.
Deposit mobilization recorded an increase during the period, reaching 20.4 billion birr by the close of the budget year, with figures rising to over 22.2 billion birr during the day of the general meeting. Concurrently, the total number of customers grew by 56 percent compared to the previous fiscal year, reaching 973,441 account holders.
The institution distributed 13.8 billion birr in financing, achieving 106 percent of its planned allocation for the budget year. Additionally, digital banking service users increased by over 106 percent following investments in digital infrastructure and technological platforms.
Paid-up capital increased to 5.64 billion birr, reflecting a growth rate of 112.5 percent. This followed the approval of the bank's registration statement by the Ethiopian Capital Market Authority on June 29, 2026, which authorized the registration of five million ordinary shares and one million additional shares through dividend capitalization.
Total assets expanded by 76 percent year-on-year to reach 29.24 billion birr at the close of the financial year on June 30, 2026. Operational capacity expanded to include 130 branches nationwide, staffed by a total of 2,115 permanent and contract personnel.
Through its Ansar digital financing initiative, the bank disbursed 1.07 billion birr without collateral to over 10,000 small and micro-enterprise clients, with a focus on women beneficiaries. The bank also formally adopted a three-year strategic plan covering the period from 2026/27 to 2029/30.
The reporting session was overseen by Board Chairperson Dr. Nasir Dino and Chief Executive Officer Melika Bedri. Discussions during the proceedings included updates on the ongoing design phase of the bank's future headquarters building in Addis Ababa and compliance with Sharia-compliant investment standards.
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| 14 |  بدون متن... | 1 052 |
| 15 | Ethiopian Airlines Tops Ethiopia's Brand Value Ranking at $323.9 Million
#EBR_News Oct 24, 2026
Ethiopian Airlines has been ranked the most valuable brand in Ethiopia, with a brand value of $323.9 million in the 2026 global company value assessment, according to the Ethiopian Intellectual Property Authority (EIPA).
The ranking, titled "Top 5,000 companies in Ethiopia with highest global brand value", places the national carrier first in the airlines category. The statement did not name the organisation that compiled the assessment or explain the methodology used to arrive at the valuation.
In its statement, the Authority congratulated the airline's management, flight crew, technical team and ground staff, describing the result as a historic achievement and a source of national pride. It said the airline had strengthened its operational capability and introduced modern operations while facing global economic and market challenges.
The Authority attributed the result to a customer-centric operation focused on service quality, saying growing customer trust forms the main foundation of the airline's high brand value.
According to the statement, the impact of the valuation extends beyond the airline itself, with what it called a highly positive effect on the wider economic ecosystem for both domestic and African companies. The Authority, which registers trademarks and licenses trademark agents.
EIPA, established in 2003, is the federal body responsible for administering and protecting intellectual property rights in Ethiopia, including patents, trademarks and copyrights, according to its website. It also runs a tribunal that handles IP appeals and disputes, and conducts public awareness and training programmes.
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| 17 | Abiy Inaugurates Megech Dam, Expected to Irrigate More Than 17,000 Hectares Around Gondar
#EBR_News Oct 24, 2026
Prime Minister Abiy Ahmed (PhD) has officially inaugurated the Megech Irrigation Dam Project, a long-delayed scheme intended to expand irrigation and water supply in Gondar and surrounding communities, the Ethiopian News Agency reported on Friday.
According to ENA, the dam has a storage capacity of 185 million cubic metres and is expected to irrigate more than 17,000 hectares of farmland. The agency said the project will directly benefit tens of thousands of farmers.
Abiy cited by ENA said implementation challenges that had held up the project for years were overcome through the Medemer philosophy, the government's concept of collective effort and national consensus.
Beyond irrigation the dam will supply clean drinking water to Gondar and nearby towns. The project is also expected to open wider economic opportunities, including urban agriculture, large-scale fisheries and tourism resorts, which would create jobs for local youth and stimulate economic growth.
Abiy stressed that Gondar still requires further development and urged the public to take an active part in its progress.
"While this success stems from rigorous monitoring, Gondar still deserves much more development," he was quoted as saying. He reaffirmed the government's commitment to ensuring that Ethiopia's development is inclusive, with benefits reaching all regions and citizens.
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| 19 | Kilitch Drugs to Sell Ethiopian Subsidiary to State-Owned HarmeeCare for $14 Million
#EBR_News Oct 24, 2026
India's Kilitch Drugs (India) Limited has announced plans to sell its entire shareholding in its Ethiopian subsidiary, Kilitch Estro Biotech PLC (KEB), to HarmeeCare Pharmaceuticals, an Ethiopian state-owned enterprise, in a deal valued at $14 million.
The company said on Friday, October 23, 2026, that the transaction forms part of a broader plan to optimise its business portfolio and redirect capital to its home market.
According to the company, the deal has been approved by its Board of Directors and is expected to close by January 31, 2027. Completion remains subject to shareholder approval, regulatory requirements and the necessary documentation.
Kilitch Drugs said it will use the net proceeds to reduce existing borrowings, lower finance costs and support the phased expansion of its new manufacturing facility in Pen, Maharashtra. The company plans to produce liquid injectable vials, lyophilised (freeze-dried) injectable vials and ophthalmic eye drops at the site, and to develop and manufacture GLP-1 (Glucagon-Like Peptide-1) therapies.
GLP-1 drugs are a fast-growing class of medicines, and the company is positioning itself to enter the segment as patents on key molecules expire in several international markets, according to the company.
The company is also targeting European Union Good Manufacturing Practice (EU GMP) and Pharmaceutical Inspection Co-operation Scheme (PIC/S) accreditations, which would strengthen its position in regulated export markets. Kilitch Drugs noted that these expansion plans remain subject to regulatory approvals.
"The divestment of our Ethiopian subsidiary will enable us to unlock capital, strengthen our balance sheet and accelerate expansion plans in India," said Bhavin Mehta, Whole-Time Director of Kilitch Drugs.
He added that the company's priorities include expanding its manufacturing capabilities, entering high-potential pharmaceutical segments and deepening its presence in international regulated markets.
Despite exiting ownership, Kilitch Drugs said it intends to keep a commercial foothold in Ethiopia. It proposes to sign a long-term supply and technical services agreement with HarmeeCare Pharmaceuticals, an arrangement the company says is meant to support continued operations at the Ethiopian manufacturing facility while preserving its commercial relationship in the region.
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