News

Five Ethiopian Insurers Unite under Pula to Protect 10 million Farmers

A new consortium (AICE) is launching to provide insurance for 10M Ethiopian small holder farmers with affordable tech-driven coverage. Kenya based insure-tech Pula is leading the charge.

Ethiopia Partners with Nigerian Billionaire Dangote on Fertilizer Plant, Prime Minister Says

Ethiopia to build a fertilizer plant in partnership with Nigerian billionaire Aliko Dangote, PM Abiy announces. The project is set to be completed in a little over three years.

Siinqee Bank Sees 897% Growth in Deposits, Surpassing 100 Billion Birr in Three Years

In just three years, Siinqee Bank has grown total deposits by 897%, reaching 102.5 billion Birr while surpassing the central banks paid capital requirement well ahead of schedule.

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.