Ethiopia Shuts Down Entire Betting Industry, Revokes All Licenses

Ethiopia shuts down its entire betting industry two weeks after revoking 22 licenses, the Lottery Service ordered banks & payment operators to halt all betting transactions amid investigations.

Sharia-Compliant ZamZam Bank Reports 940.8 Million Birr Net Profits

ZamZam Bank reports near-Birr 1 billion net profit for FY 2024/25, as total assets surge to 16.6B Birr and deposits climb to 11.6B Birr

Ethiopia to Introduce Digital Voter and Candidate Registration Ahead of 2026 Election

Ethiopia’s 7th national election will introduce digital voter and candidate registration for the first time.

Fayda Digital ID to Become Mandatory for Banking Services as Ethiopia Begins Nationwide Account Harmonization

NBE has set April 8, 2026, as the final deadline for nationwide implementation. Addis Ababa and other regional capitals have been given a shorter timeline.

Ethiopia Plans to Allow Outbound Cross-border Payments in Proposed Digital Payments Strategy

Proposed National Digital Payments Strategy (2026–2030) plans to enable low-value outbound cross-border transfers via cards, mobile wallets, and digital banking.

M-PESA Ethiopia Says Its New App Was Blocked on Ethio Telecom Mobile Data Days After Launch

Two months ago, the World Bank had voiced concerns about the lack of fair play in Ethiopia’s telecommunications sector.

Premier Switch Solutions Posts Modest 4% Net Profit Growth Amid Birr Depreciation, Inflation Pressures

Premier Switch Solutions has reported a 4% rise in profit to 88.8 million Br, holding off fee increases even as the Birr depreciated 170% and inflation sustained.

Ethiopia's Sovereign Wealth Fund Prepares to Launch Startup Incubation Program Within SOEs

Ethiopia’s sovereign wealth fund, EIH, is set to launch Jump Start-Up, an incubation program for startups across its state-owned enterprises, according to CEO.