Ethiopian Business News

Ethiopia Attracts USD 1.432 Billion in FDI in First Quarter of 2026/27 Fiscal Year

Wed, 21 Oct 2026 14:19:30 GMT

Ethiopia attracted USD 1.432 billion in foreign direct investment (FDI) during the first quarter of the 2026/27 fiscal year, representing a 49 percent increase compared to the same period last year, according to the Ethiopian Investment Commission (EIC).

EEP Fast-Tracks 18 Power Grid Projects Ahead of COP32

Tue, 20 Oct 2026 13:39:20 GMT

Ethiopian Electric Power (EEP) is accelerating 18 electricity infrastructure projects to improve grid reliability and prepare the capital for the COP32 climate summit, scheduled for November 2027.

Ethiopia Joins Pan-African Payment System to Strengthen Regional Trade and Financial Integration

Fri, 16 Oct 2026 10:42:09 GMT

The National Bank of Ethiopia (NBE) has officially joined the Pan-African Payment and Settlement System (PAPSS), marking a significant milestone in the country’s efforts to modernize its financial sector and strengthen economic integration with African markets.

Ethiopian Parliament Approves USD 145.8 Million Loan for Power Sector Modernization

Wed, 14 Oct 2026 13:35:59 GMT

Ethiopia’s House of People’s Representatives (HPR) has unanimously approved a concessional loan agreement worth USD 145.8 million with the International Development Association (IDA) to finance the first phase of the Power Sector Reform, Investment, and Modernization Project.

Ethiopia: Oromia Bank Posts 49% Profit Growth to Birr 3.82 Billion Despite Liquidity Challenges

Mon, 12 Oct 2026 13:01:26 GMT

Oromia Bank reported a 49% increase in pre-tax profit to Birr 3.82 billion for the 2025/2026 fiscal year, despite liquidity constraints and broader economic challenges affecting Ethiopia’s banking sector.

Transaction history to open credit access for Ethiopian merchants

Wed, 07 Oct 2026 15:58:01 GMT

Ethiopian merchants will be able to access working capital loans based on their digital transaction history under a new payment and financing initiative launched by Visa and ETTA Solutions.

Lamu Refinery to Expand Ethiopia’s Fuel Supply Options and Strengthen Regional Trade, PM Abiy Says

Wed, 30 Sep 2026 14:45:32 GMT

Ethiopia is set to benefit from Kenya’s planned Lamu oil refinery through expanded access to regional refined petroleum supplies and increased opportunities for trade and investment, Prime Minister Abiy Ahmed said during the project’s groundbreaking ceremony.

Ethiopia: Council of Ministers Advances Key Legislative Decisions on Data, Energy and Taxation

Mon, 28 Sep 2026 14:30:25 GMT

Ethiopia’s Council of Ministers has advanced a series of legislative and regulatory decisions covering data governance, energy-sector financing, income tax administration and value added tax, with several draft laws approved for submission to the House of Peoples’ Representatives.

Ethiopia, Djibouti Unveil Cross-Border Fuel Pipeline to Strengthen Energy Corridor

Thu, 24 Sep 2026 14:32:15 GMT

Ethiopia and Djibouti have announced a major cross-border petroleum infrastructure project aimed at strengthening energy security, cutting logistics costs and deepening economic cooperation between the neighboring countries.

Ethiopia: Wegagen Bank Posts Birr 4.3 Billion Pre-Tax Profit as Assets Climb 32%

Mon, 21 Sep 2026 15:38:44 GMT

Wegagen Bank reported a pre-tax profit of Birr 4.3 billion for the 2025/26 fiscal year, supported by growth in income, deposits, lending and digital banking activity.