News

Kazana Group’s Smilepay Debuts as Ethiopia’s Latest Licensed Remittance Platform

Smilepay, a Kazana Group portfolio company, just entered Ethiopia's digital remittance market. Licensed by NBE, it is integrated with 29 banks and aims for cross-border payment efficiency.

Safaricom Averages 30K New Customers Daily in Ethiopia

Safaricom Ethiopia invested roughly 300 billion Birr over four years on its way to 10 million 90-day active subscribers cementing itself as formidable competitive player in Ethiopia's telecom duopoly.

Ethiopia's Central Bank Ends Mandatory T-Bond Purchases

After 3 years, mandatory T-bond buys by commercial banks end. NBE's monetary policy committee says improved revenue & loans will finance the deficit. Credit cap at 18% remains for now.

Nigeria’s Qore Technologies Sets Up Shop in Ethiopia, Betting on a Cloud-First Future

Qore Technologies, the Nigeria-based core banking infrastructure provider, has officially entered Ethiopia, bringing its cloud-native platform to local banks, MFIs, and fintechs.

Ethiopia’s Development Faces Structural Barriers Despite Economic Growth, AfDB Report Finds

The AfDB’s latest Country Focus Report highlights the stark contrast between Ethiopia’s economic potential and its persistent development gaps. Economic growth amid poverty, debt and unemployment.

Five Ethiopian Agri-Tech Startups Share $40K Prize in AYuTE Challenge

Five Ethiopian startups win $40,000 through Heifer International’s 2025 AYuTE Challenge, backing local agri-tech innovation with funding, mentorship, and exposure. Nanex took the top prize.

Ethiopia Mandates Government Offices to Accept Digital Payments from All Service Providers

Despite reforms allowing fintechs and non-bank entities to enter the market, unfair trade practices and government favoritism have been prevalent in Ethiopia’s digital financial services sector.

Gadaa Bank Becomes Second Bank to List on Ethiopia’s Securities Exchange

Gadaa Bank has become the second bank to list on Ethiopia’s Securities Exchange, registering over 1.23M shares. It joins Wegagen as the second bank to list shares on ESX.