ru
Feedback
Ethiopian Business Review

Ethiopian Business Review

Открыть в Telegram

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

Больше
9 573
Подписчики
+924 часа
+547 дней
+27930 дней

Загрузка данных...

Привлечение подписчиков
сентябрь '26
сентябрь '26
+297
в 0 каналах
август '26
+441
в 0 каналах
Get PRO
июль '26
+508
в 1 каналах
Get PRO
июнь '26
+264
в 2 каналах
Get PRO
май '26
+398
в 1 каналах
Get PRO
апрель '26
+431
в 0 каналах
Get PRO
март '26
+1 034
в 1 каналах
Get PRO
февраль '26
+391
в 3 каналах
Get PRO
январь '26
+603
в 4 каналах
Get PRO
декабрь '25
+558
в 3 каналах
Get PRO
ноябрь '25
+465
в 2 каналах
Get PRO
октябрь '25
+477
в 1 каналах
Get PRO
сентябрь '25
+377
в 1 каналах
Get PRO
август '25
+233
в 0 каналах
Get PRO
июль '25
+224
в 0 каналах
Get PRO
июнь '25
+199
в 1 каналах
Get PRO
май '25
+342
в 1 каналах
Get PRO
апрель '25
+105
в 1 каналах
Get PRO
март '25
+47
в 0 каналах
Get PRO
февраль '25
+21
в 0 каналах
Get PRO
январь '25
+35
в 0 каналах
Get PRO
декабрь '24
+37
в 0 каналах
Get PRO
ноябрь '24
+73
в 0 каналах
Get PRO
октябрь '24
+99
в 0 каналах
Get PRO
сентябрь '24
+129
в 0 каналах
Get PRO
август '24
+192
в 0 каналах
Get PRO
июль '24
+167
в 0 каналах
Get PRO
июнь '24
+134
в 0 каналах
Get PRO
май '24
+124
в 0 каналах
Get PRO
апрель '24
+147
в 0 каналах
Get PRO
март '24
+169
в 0 каналах
Get PRO
февраль '24
+340
в 0 каналах
Get PRO
январь '24
+598
в 0 каналах
Get PRO
декабрь '23
+582
в 0 каналах
Get PRO
ноябрь '23
+82
в 0 каналах
Get PRO
октябрь '23
+97
в 0 каналах
Get PRO
сентябрь '23
+72
в 0 каналах
Get PRO
август '23
+48
в 0 каналах
Get PRO
июль '23
+48
в 0 каналах
Get PRO
июнь '23
+47
в 0 каналах
Get PRO
май '23
+34
в 0 каналах
Get PRO
апрель '23
+31
в 0 каналах
Get PRO
март '23
+29
в 0 каналах
Get PRO
февраль '23
+32
в 0 каналах
Get PRO
январь '23
+92
в 0 каналах
Get PRO
декабрь '22
+100
в 0 каналах
Get PRO
ноябрь '22
+44
в 0 каналах
Get PRO
октябрь '22
+52
в 0 каналах
Get PRO
сентябрь '22
+35
в 0 каналах
Get PRO
август '22
+66
в 0 каналах
Get PRO
июль '22
+32
в 0 каналах
Get PRO
июнь '22
+41
в 0 каналах
Get PRO
май '22
+41
в 0 каналах
Get PRO
апрель '22
+28
в 0 каналах
Get PRO
март '22
+33
в 0 каналах
Get PRO
февраль '22
+31
в 0 каналах
Get PRO
январь '22
+13
в 0 каналах
Get PRO
декабрь '21
+50
в 0 каналах
Get PRO
ноябрь '21
+404
в 0 каналах
Дата
Привлечение подписчиков
Упоминания
Каналы
22 сентября+7
21 сентября+11
20 сентября+10
19 сентября+18
18 сентября+13
17 сентября+6
16 сентября+14
15 сентября0
14 сентября+15
13 сентября+10
12 сентября+11
11 сентября+7
10 сентября+16
09 сентября+11
08 сентября+20
07 сентября+31
06 сентября+13
05 сентября+16
04 сентября+11
03 сентября+21
02 сентября+17
01 сентября+19
Посты канала
Ethiopia Joins Global Coalition Backing Lower-Carbon Blended Cement Ahead of Hosting COP32 #EBR_News Sep 22, 2026 Ethiopia has joined a growing coalition of governments backing lower-carbon blended cement, alongside Cambodia, Ghana, Tanzania, and Uganda, bringing the number of nations supporting the Intergovernmental Council for Buildings and Climate's initiative to twelve, according to a report by World Cement. The announcement coincides with the launch of Blend Better Cement, a global campaign bringing together governments, industry, and climate organizations to advance national policies that boost the use of blended cement. According to World Cement, blended cements use alternative materials, known as supplementary cementitious materials, such as calcined clay, limestone fines, or industrial by-products, to reduce emissions while delivering comparable strength, durability, and cost to conventional Portland cement. The report said blended cement can cut emissions by 50 percent per tone of cement compared to Portland cement, and that concrete accounts for around 7 to 8 percent of global carbon emissions. Ethiopia and the other new signatories have pledged to use policy levers such as prioritizing blended cement in public procurement and updating national standards, joining Brazil, France, Germany, Italy, Kenya, Luxembourg, and New Zealand, who had previously signed the ICBC's Call to Action on Blended Lower Carbon Cement and Supplementary Cementitious Materials. World Cement reported that governments are the world's largest buyers of concrete, meaning such procurement commitments can accelerate the scaling of lower-carbon cement in national markets. Dawit Alemu Beshah, Project Manager for the Climate Change Sector Reform Performance Project at the Ethiopian Ministry of Industry, said in the report that Ethiopia's commitment to blended cement reflects both environmental and industrial priorities. "Ethiopia has no doubts about scaling blended cement," Dawit said, according to World Cement. "It uses clean energy, strengthens our industry, and makes the most of the raw materials we are blessed with. It's not just an environmental story, but one about competitiveness and industrialisation." World Cement noted that Ethiopia is set to host COP32 in 2027, positioning the country to showcase approaches supporting infrastructure development and lower-emission construction as demand for new buildings and infrastructure grows across Africa. The report said the UN estimates that 75 percent of all infrastructure that will exist by 2050 has yet to be built, underscoring the scale of opportunity for scaling lower-carbon construction solutions on the continent. Gulnara Roll, Head of the GlobalABC Secretariat at the UN Environment Programme, said the addition of five new governments signals continued momentum for the initiative. "Through the ICBC's Call to Action on Blended Cement, countries are sharing experience, strengthening policies and helping create the market conditions needed to scale lower-emissions construction," Roll said, according to World Cement. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://www.facebook.com/share/1DAKyvnWSN/?mibextid=wwXIfr) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://whatsapp.com/channel/0029Vb7VyjjADTOJXYi7bN35)

2
Нет текста...
146
3
Wegagen Bank's Digital Lending Platform Disburses 5.99 Billion Birr to Women, Youth and MSMEs #EBR_News Sep 22, 2026 Wegagen Bank S.C. disbursed 5.99 billion birr in loans through its digital lending platform, Efoyta, during the 2025/26 fiscal year, with the bank stating the platform is aimed at expanding access to finance particularly for women, youth entrepreneurs, and Micro, Small and Medium Enterprises. The figures were presented at the bank's 33rd Ordinary and 16th Extraordinary Shareholders General Meeting, held at Hilton Hotel Addis Ababa on September 19, 2026. According to the bank, digital banking adoption grew significantly across the board during the fiscal year. Mobile banking subscriptions rose 21 per cent to 4,087,775, while internet banking subscriptions jumped 86 per cent to 41,494. Cardholders increased 45 per cent to 537,651. A digital wallet partnership with E-Birr yielded 664,347 E-float accounts, supported by a network of 7,445 agents. The bank said its overall digital lending exposure remains a modest but growing share of its loan book, accounting for 2 per cent of the gross loan portfolio, which reached 67.3 billion birr for the year, alongside larger segments including import financing at 22.2 per cent, construction at 19 per cent, and export financing at 18.2 per cent. Beyond digital channels, the bank said it onboarded 485 new institutional partners during the fiscal year, including 185 schools, 158 health centres, 61 entities across unions and utilities, 43 savings and credit cooperatives, and 38 water and sanitation offices. The bank's Interest Free Banking service mobilised a net deposit of 143 million birr during the year, a 3 per cent increase, bringing total outstanding interest-free deposits to 4.9 billion birr. The bank said its physical distribution network expanded to 458 branches, supported by 398 ATMs, 651 point-of-sale terminals, and 7,445 agents, providing what it described as an important foundation for improving accessibility and convenience for customers. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://www.facebook.com/share/1DAKyvnWSN/?mibextid=wwXIfr) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://whatsapp.com/channel/0029Vb7VyjjADTOJXYi7bN35)
334
4
Нет текста...
303
5
New Report Maps How Ethiopia Could Turn Farm Waste Into a Multi-Million-Dollar Industry #EBR_News Sep 22, 2026 Ethiopia could unlock significant economic value from its agricultural leftovers, according to a new report jointly commissioned by the Embassy of the Kingdom of the Netherlands in Ethiopia and prepared by Dutch circular economy firm SPAAK and the non-profit TRAIDE Foundation. Titled "From Waste to Value: Valorising Agricultural Waste Streams in Ethiopia" and released in July 2026, the study identifies practical business opportunities in coffee, oilseed, livestock, banana and fruit residues that are currently burnt, dumped or left to rot. According to the report, roughly 70 percent of Ethiopia's organic waste ends up rotting in open dumps, contaminating water sources, while about a quarter of the country's farmland has become degraded and highly acidic. The report notes that Ethiopia also spends heavily on imported fertiliser and paper products that could, in principle, be substituted with locally processed materials made from agricultural residues. Coffee emerged as a central focus. The report states that Ethiopia, Africa's largest coffee producer, earns 30 to 35 percent of its export revenue from the crop, yet more than half of every coffee cherry is discarded during processing, with production reaching around 501,000 tonnes in 2024. The report proposes drying and grading coffee husks into cascara tea and flour for European specialty beverage and health-food markets, which it says could generate additional income for smallholder farmers who currently earn about USD 1.37 a day from the crop. Beyond coffee, the report outlines four further business concepts. It estimates that turning avocado oil processing residues into powder, cosmetic oil, animal feed or biochar could generate USD 2 million to 6 million a year from powder exports alone. It also proposes combining poultry manure and brewery waste into organic fertiliser to ease Ethiopia's reliance on nearly two million tonnes of imported fertiliser each year, converting banana stems into paper pulp for local and export packaging markets, which the report says could create around 1,100 temporary jobs at a plant processing 40 tonnes a day, and processing mango pruning waste into biochar to restore soil health around coffee plantations. The report also points to a shifting policy landscape that could support such ventures. It cites Ethiopia's 2025 Solid Waste Proclamation, which requires households, farms and businesses to separate waste at source, alongside a 2026 investment incentive reform that classifies agricultural waste projects as environmental protection or agro-industrial activities eligible for reduced corporate income tax of between 5 and 15 percent, as well as customs and VAT exemptions on imported equipment. However, the report cautions that regulatory oversight remains fragmented across multiple government agencies, with weak enforcement and limited awareness among farmers and businesses about existing rules. Bethelhem Dejene, chief executive of Zafree Papers, was quoted in the report saying that pushing for enforcement of the law and raising customer awareness would support the viability of such business models. The report's authors, including SPAAK's innovation lead Livio Bod and TRAIDE's Ethiopia partnerships lead Maud Hartstra, recommend that the Dutch embassy help connect local ventures with Dutch investors and off-takers, fund pilot projects and build a centralised database of standards and regulations for waste valorisation. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://www.facebook.com/share/1DAKyvnWSN/?mibextid=wwXIfr) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://whatsapp.com/channel/0029Vb7VyjjADTOJXYi7bN35)
418
6
Нет текста...
397
7
Dashen Bank Super App Crosses Half a Trillion Birr in Transactions, More Than Doubling Since February #EBR_News Sep 22, 2026 Dashen Bank's Super App has surpassed half a trillion birr in cumulative transaction volume across more than 50 million transactions, according to a social media post by the bank. The milestone represents more than a doubling of transaction volume since February 2026, when the bank reported the platform had processed over 220 billion birr across 23 million transactions and reached 2 million customers, as EBR reported at the time. The transaction count has also more than doubled over the same period, from 23 million to over 50 million. Launched in January 2025 as Ethiopia's first banking super application, the platform integrates personal and business banking services including instant fund transfers, QR payments, virtual cards, and interest-free banking options compliant with Sharia principles. It features AI-powered self-onboarding with identity verification, budget management tools, and "Chat Banking" capabilities allowing fund transfers via social media messaging, alongside third-party integrations enabling flight bookings, entertainment access, and purchases through a "Three Click Shopping" feature. The app was developed in collaboration with EagleLion System Technology. The growth in transaction volume follows a recent expansion of the platform's capacity. As the bank reported on September 14, Dashen Bank raised the Super App's transaction limits, allowing customers to transfer up to 1 million birr in a single transaction and up to 5 million birr per day. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://www.facebook.com/share/1DAKyvnWSN/?mibextid=wwXIfr) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://whatsapp.com/channel/0029Vb7VyjjADTOJXYi7bN35)
533
8
Нет текста...
485
9
Egypt Says It Approved South Sudan's Fula Dam, Draws Contrast With Its Opposition to Ethiopia's GERD #EBR_News Sep 22, 2026 Egypt has agreed to South Sudan's planned Fula hydropower dam after reviewing technical studies submitted under the Nile Basin Initiative, Egyptian Water Resources and Irrigation Minister Hani Sewilam said in Cairo on Sunday, according to Ahram Online. Sewilam said the reviews found the project's anticipated effects to be "very limited" and within manageable levels. According to Ahram Online, Sewilam's comments followed remarks by South Sudan's Energy and Dams Minister Agok Makur, who said Juba was ready to proceed with dam projects, including Fula, and had no reason to fear opposition from downstream countries. "We are not afraid to build our dams because we have a right and we are sovereign, and also South Sudan is part of the Nile Basin," Makur said, according to the report. Sewilam said Makur's remarks had been misunderstood in some media coverage and stressed that Egypt did not oppose the Fula project. Ahram Online reported that southern Nile Basin states submitted 36 proposed projects for review under the Nile Basin Initiative, including five protection schemes, 13 multipurpose projects, and four hydropower dams. Sewilam drew a distinction between Egypt's approval of the Fula project and its position on Ethiopia's Grand Ethiopian Renaissance Dam, which Cairo opposes in its current form. According to Ahram Online, Sewilam said the GERD had caused damage and violated international law, and that Egypt's priority was to ensure its citizens did not bear the consequences of the dam's operation. He said the dam's initial filling severely affected Sudan, describing the resulting flow interruption as a "human-induced drought" that forced drinking-water stations to stop operating, and said Ethiopia released water irregularly following the GERD's inauguration on September 9, 2025, contributing to flooding in Sudan. Sewilam said Egypt would enter renewed negotiations with Ethiopia only if Ethiopia recognised Egypt's water rights for its 120 million citizens, complied with international law, and accepted a firm timetable measured in weeks rather than another open-ended process. "No one has been able to affect Egypt's share of Nile water, and we will never accept that," Sewilam said, according to Ahram Online, adding that the GERD dispute had neither ended nor been forgotten. Ahram Online reported that Egypt's annual per-capita water share has fallen to around 490 cubic metres, less than half the internationally recognised water-poverty threshold of 1,000 cubic metres per person, with the country relying on the Nile for more than 98 per cent of its freshwater needs, which total nearly 120 billion cubic metres annually. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://www.facebook.com/share/1DAKyvnWSN/?mibextid=wwXIfr) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://whatsapp.com/channel/0029Vb7VyjjADTOJXYi7bN35)
563
10
Нет текста...
560
11
Maersk Extends Late Payment Fee Grace Period to 15 Days for Djibouti and Ethiopia #EBR_News Sep 22, 2026 Maersk has extended the grace period for its Late Payment Fee application in Djibouti and Ethiopia from 7 calendar days to 15 calendar days after the invoice due date, according to a notice from the shipping company dated September 18, 2026. According to Maersk, a Late Payment Fee is applied when an invoice remains unpaid beyond the allowed payment period following the invoice due date. The fee remains unchanged at $40 per shipment. Maersk said the extended timeline recognises that additional time may be required to complete the clearance and payment process, giving customers more time to settle outstanding invoices before the fee becomes applicable. The change applies to shippers using Maersk's services through Djibouti, Ethiopia's primary maritime trade gateway, and comes as the company described the move as part of its ongoing efforts to support customers and provide a smoother payment experience. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://www.facebook.com/share/1DAKyvnWSN/?mibextid=wwXIfr) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://whatsapp.com/channel/0029Vb7VyjjADTOJXYi7bN35)
719
12
Нет текста...
683
13
Study of 638,000 Addis Ababa Students Finds School Lunches Cut Dropout Rate by Half #EBR_News Sep 21, 2026 A study covering public primary schools in Addis Ababa has found that a school feeding programme reduced the average student dropout rate from 2.91 percent to 1.48 percent, according to research published in the journal Scientifica. The study was conducted by a research team from the University of Gondar. The study examined 24 public primary schools in Kolfe Keranio sub-city, part of a wider School Feeding and School Supplies Program that covers 638,857 students across 264 public primary schools in Addis Ababa. Researchers compared dropout rates in the three years before the programme began in the schools (2026–2018) against the four years after (2019–2022), finding that in every year following the programme's introduction, dropout rates never exceeded the lowest rate recorded before it started. The researchers said statistical testing showed the decline was unlikely to be explained by random variation. The study found one gap the programme did not close: female students consistently had higher dropout rates than male students both before and after the programme began, with second-grade girls in 2017 recording the highest dropout rate in the entire study period, at 5.07 percent. The researchers did not identify a specific cause, though the paper notes that factors such as housework, caregiving responsibilities, and safety on the way to school may contribute to dropout risk among girls in ways that food provision alone cannot address. The Addis Ababa findings are consistent with other Ethiopian studies cited in the paper. Previous research found dropout rates of 0.2 percent in Bishoftu schools with feeding programmes compared to 0.9 percent in schools without, while a separate 2021 study found non-participating children were six times more likely to drop out than participating children. Separately, the UN World Food Programme has reported that regular school meals reduced dropout rates nationally by 5 percentage points for boys and 6 percentage points for girls, with school retention in the Afar and Somali regions improving by 10 percent. School feeding in Ethiopia began in 1994 through a partnership between the Ministry of Education and WFP, and was elevated to a national policy framework in 2021, with a target of providing meals to all preschool, primary, and secondary students by 2030. The study's authors acknowledged limitations, noting the research did not include a control group of non-participating schools and could not fully isolate the effect of school meals from other simultaneous improvements in education infrastructure. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://www.facebook.com/share/1DAKyvnWSN/?mibextid=wwXIfr) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://whatsapp.com/channel/0029Vb7VyjjADTOJXYi7bN35)
1 050
14
Нет текста...
963
15
MIDROC Raises Minimum Starting Salary to 10,000 Birr, Allocates 3.24 Billion Birr for Pay Increments #EBR_News Sep 21, 2026 MIDROC Investment Group will raise its minimum starting salary to 10,000 birr, up from 6,000 birr, for the 2026/27 fiscal year, according to CEO Jemal Ahmed, who announced the change at the group's Family Day and annual performance evaluation event. The company said it has allocated an additional 3.244 billion birr toward salary increments starting in September. According to Jemal, the salary increase brings MIDROC's total annual payroll to 13 billion birr, up from 8.5 billion birr previously. He said the group distributed 1.2 billion birr in employee bonuses during the 2025/26 fiscal year, with individual bonuses ranging from one to four months' salary depending on performance. Separately, 700 top-performing employees each received individual recognition awards ranging from 100,000 to 500,000 birr for outstanding results during the year. Jemal said MIDROC directed 10 per cent of its total company profits toward community social support initiatives during the fiscal year. "We have paid out 10 percent of our profits, there is a reason we say MIDROC belongs to the public," Jemal said. He described MIDROC as "the kind institution of a kind man," and said the group generated $390 million in foreign exchange for the country during the fiscal year. According to the company, MIDROC's workforce has grown from 47,000 employees six years ago to 80,000 today. Jemal said the group's continued expansion comes against a backdrop of strong macroeconomic performance in Ethiopia. He said MIDROC has also engaged new global partners during the year, including representatives from the International Finance Corporation. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://www.facebook.com/share/1DAKyvnWSN/?mibextid=wwXIfr) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://whatsapp.com/channel/0029Vb7VyjjADTOJXYi7bN35)
1 135
16
Нет текста...
1 030
17
Gadaa Bank's Profit Before Tax Jumps 135% to 1.05 Billion Birr in 2025/26 #EBR_News Sep 19, 2026 Gadaa Bank S.C. reported profit before tax of 1.05 billion birr for the 2025/26 fiscal year, a 135 percent increase from 444.79 million birr the previous year, according to the bank's consolidated annual report presented at its 5th Annual General Meeting, held at the Addis Ababa International Convention Center on September 19, 2026. According to the report, gross revenue reached 2.96 billion birr, up 77 percent from the previous year, while total expenses stood at 1.9 billion birr, an increase of 55 percent attributed to sustained branch expansion, staffing, and technological development. After an income tax expense of 286.76 million birr, profit for the year stood at 759.23 million birr, more than double the 342.76 million birr recorded the previous year. Total comprehensive income for the year reached 801.28 million birr, up from 355.71 million birr in 2025. Basic earnings per share rose to 52 percent, up from 29 percent the prior year. Board Chairman Hassen Hussien (PhD) said in the report that the fiscal year marked the first full implementation of the bank's revised corporate strategy, describing it as a milestone demonstrating institutional resilience, strategic foresight, and record-breaking growth. According to Hassen, total assets grew 66 percent to reach 16.8 billion birr, while total capital grew 56 percent to 2.8 billion birr as of June 30, 2026. He said the growth was driven by higher non-interest income, optimised foreign currency management, and rapid adoption of digital channels, with Return on Equity improving to 27 percent and Return on Assets to 6 percent. The bank's deposit base expanded significantly during the year. Total deposits, including a margin held of 985 million birr, reached 11.89 billion birr, a 68 percent increase, while the bank's consolidated credit and interest-free financing portfolio expanded to 6.1 billion birr. Customer accounts grew from 575,977 to 1,005,014 during the fiscal year, supported by the opening of 10 additional branches, bringing the bank's total network to 110 branches nationwide. The bank's capital markets arm, Gadaa Securities Dealer S.C., made significant early progress, opening brokerage accounts for 3,000 clients since its establishment. Digital banking channels also expanded, surpassing 300,000 subscribers across internet and mobile banking platforms. On asset quality, the report said Gadaa Bank's Capital Adequacy Ratio stood at 12.3 percent as of June 2026, while its Non-Performing Loan ratio remained at 0.7 percent. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://www.facebook.com/share/1DAKyvnWSN/?mibextid=wwXIfr) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://whatsapp.com/channel/0029Vb7VyjjADTOJXYi7bN35)
1 259
18
Нет текста...
1 080
19
Wegagen Bank Net Profit Grows 13.6% to 3.15 Billion Birr in 2025/26 #EBR_News Sep 19, 2026 Wegagen Bank S.C. reported a net profit of 3.15 billion birr for the 2025/26 fiscal year, up 13.6 percent from 2.78 billion birr the previous year, according to the bank's financial performance presented at its 33rd Ordinary and 16th Extraordinary Shareholders General Meeting, held at Hilton Hotel Addis Ababa on Saturday. According to the bank's consolidated statement of profit or loss, the net profit followed an income tax expense of 1.15 billion birr on a profit before tax of 4.3 billion birr, itself a 12 percent increase from 3.85 billion birr the previous year. Basic and diluted earnings per share stood at 34.40 percent for the year, down from 46.10 percent in 2024/25. The decline in the per-share figure comes even as absolute profit grew, consistent with the bank's paid-up capital expanding from 7.0 billion birr to 10.09 billion birr during the year, a 44 percent increase in outstanding capital. Aklilu Wubet (PhD), CEO of Wegagen Bank, said the Bank’s priorities extend beyond financial results, focusing on building a customer-centric, digitally enabled, and operationally efficient institution. He emphasized that its new five-year strategy prioritizes investments in systems, people, partnerships, and risk management to deliver sustainable results. The bank's profit growth has moderated over the past two years after a sharper rise the year before. Net profit rose from 1.60 billion birr in 2023/24 to 2.78 billion birr in 2024/25, a 73 percent increase, before growing a further 13.6 percent to 3.15 billion birr in 2025/26. Total income for the 2025/26 fiscal year reached 16.4 billion birr, up 21 percent from 13.5 billion birr in the preceding year, while total expenses grew 25 percent to 12.1 billion birr, driven primarily by interest expense and employee salaries and benefits. Presenting the 2025/26 fiscal year report, Board Chairperson Abdishu Hussein said Wegagen Bank expanded its balance sheet, strengthened its capital position, and advanced key business and technology initiatives despite domestic and global challenges. Return on Average Assets stood at 3.2 percent and Return on Average Equity at 20.9 percent for the year. The bank's balance sheet expanded significantly alongside its earnings. Total assets grew 32 percent to 111.3 billion birr, up from 84.3 billion birr the previous year. Total deposits reached 81.3 billion birr, up 23 percent, while the gross loan portfolio expanded 26 percent to 67.3 billion birr. Total equity increased 35 percent to 17.3 billion birr, contributed by 15,598 shareholders. In international banking, the bank mobilised $366 million in foreign exchange during the fiscal year, a 34 percent increase from the previous year, driven by export proceeds, foreign exchange market dealings, and remittances. https://ethiopianbusinessreview.net/wegagen-bank-net-profit-grows-13-6-to-3-15-billion-birr-in-2025-26/
1 219
20
Нет текста...
1 019