Ethiopian Business Daily


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On 29 December 2024, ZamZam Bank announced significant growth in deposits, pre-tax profits, total assets, and more, surpassing the records set during the 2023/24 fiscal year.

Learn how ZamZam Bank's strategic investments and impactful social initiatives drove growth across all aspects of the bank and earned it well-deserved recognition.

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Source: linkUpbusiness
@Ethiopianbusinessdaily


The National Bank of Ethiopia (NBE) is instigating a quiet change in the commercial banking industry, issuing new directives to overhaul corporate governance structures. The focus of these reforms targets introducing tighter regulations on board compositions, implementing comprehensive databases, and enforcing updated credit profiles to mitigate systemic risk.

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Source: addisfortune
@Ethiopianbusinessdaily


#Daily_Quiz What is the primary function of hashtags in social media?
Poll
  •   A) To increase website traffic
  •   B) To categorize content
  •   C) To create ads
  •   D) To enhance video quality
887 votes


#Daily_Update

ብሄራዊ ባንክ በውጭ ምንዛሬ ግብይት መሠማራት ለሚፈልጉ የግል የውጭ ምንዛሬ ቢሮዎች ለጊዜው ፍቃድ መስጠት አቁሟል።

ባንኩ ለግል የውጭ ምንዛሬ ቢሮዎች ፍቃድ መስጠት ያቆመው፣ ካሁን ቀደም ፍቃድ የወሰዱ አምስት ቢሮዎችን የሥራ አፈጻጸም በቅድሚያ መገምገም ስለፈለገ መሆኑ ታውቋል።

Source: The Ethiopian Economist View
@Ethiopianbusinessdaily


#Daily_Quiz Which digital marketing tactic is best for retargeting previous website visitors?
Poll
  •   A) Display advertising
  •   B) Email marketing
  •   C) Social media advertising
  •   D) Search engine marketing
895 votes


Ethiopian banks are set to raise loan interest rates by 3 to 5 percent for both new and existing borrowers, as reported by Sheger Radio. This adjustment will see rates increase from the current range of 17–19 percent to 20–22 percent. Borrowers, including those financing home purchases or importing goods, are expected to face significant challenges as a result of the hike.

While the increase aligns with contractual agreements tied to economic conditions, experts caution that it could place additional strain on the economy. The higher rates are anticipated to reduce market activity and lower import volumes, potentially passing increased costs onto consumers. This development underscores growing concerns about the broader economic impact of rising borrowing costs.

Source: linkUpbusiness
@Ethiopianbusinessdaily


Nyala Insurance Becomes First Ethiopian Insurer to Integrate M-Pesa

Nyala Insurance and Safaricom have entered into a partnership that allows users to make premium payments, renew policies, and conduct other insurance-related transactions through M-PESA.

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Source: shegamedia
@Ethiopianbusinessdaily


Utopia Green Mobility has launched an innovative program enabling customers to own electric vehicles with just a 30% initial payment and lease options of up to 10 years.

The initiative includes partnerships with banks and an equb system to ease upfront costs. Renowned artist Engdasew Habte (Teddy) has been announced as the brand ambassador

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Source: linkUpbusiness
@Ethiopianbusinessdaily


Ethiopia accuses Somaliland of fueling clan conflicts

Ethiopia has accused the Somaliland government’s security apparatus of involvement in clan conflicts within the country. During a meeting in Jigjiga, security officials from both nations discussed the current situation.

Reliable sources from the Somali region report that clashes between two Somali clans have occurred in recent weeks in the Yoale kebele (district), near the Somaliland border in the Harshin woreda of the Jigjiga zone.

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Source: capitalethiopia
@Ethiopianbusinessdaily


#CustomsPharma In letters to both the Ethiopian Customs Commission (ECC) and the Ministry of Health (MoH), the Association has asked for a fixed price framework and a revised, accurate list of raw materials to resolve these issues.

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Source: addisfortune
@Ethiopianbusinessdaily


Oromia Bank's expansion plan, designed to decentralise and diversify the customer base, has shown a mixed impact. While the Bank's capital-to-asset ratio has grown, indicating stronger capital buffers, the decision to open more branches floundered. The strain of operational costs and a 35pc increase in personnel expenses weighed heavily on the bottom line, leading to a slip in net profit. With branches reporting low returns and draining resources, a shift in strategy looks imminent.

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Source: addisfortune
@Ethiopianbusinessdaily


#Daily_Quiz What is the primary purpose of a landing page in digital marketing?
Poll
  •   A) To generate leads
  •   B) To improve website design
  •   C) To increase brand awareness
  •   D) To boost SEO rankings
770 votes


The changes to immigration regulation have had far-reaching effects. Business communities from abroad warn that the new rules could discourage foreign investment. The China Chamber of Commerce in Ethiopia reported a drastic drop in Chinese workers from nearly 100,000 to around 8,000. Renewing work permits has become both costlier and more time-consuming, creating uncertainty for businesses. For some, Ethiopia is becoming less welcoming, pushing them to consider moving their operations elsewhere.

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Source: addisfortune
@Ethiopianbusinessdaily


#CorporateTax The largest private banks in the country, including Awash Bank, are among the plaintiffs. These institutions, already having paid half the demanded tax, would see their capital base seriously compromised if the ruling were to go against them. This is feared to trigger a damaging ripple effect, constraining lending and discouraging new investment.

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Source: addisfortune
@Ethiopianbusinessdaily


Firehiwot Tamiru, Ethio telecom's CEO, seeks a 1.14 billion dollar financing for a major infrastructure expansion this fiscal year, on her bid to deploy mobile networks in 1,000 new locations, including 496 rural areas. However, the state-owned teleco provider faces a substantial funding gap that could derail its ambitions.

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Source: addisfortune
@Ethiopianbusinessdaily


The Addis Abeba Trade Bureau (AATB) has shifted the responsibility of distributing sugar from the consumer unions to delivery companies. City authorities say this move is aimed at improving service efficiency and preventing product waste.

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Source: addisfortune
@Ethiopianbusinessdaily


Experts call for responsible land management through national land policy

Experts in land management have emphasized the urgent need for responsible land governance in Ethiopia, warning that current practices could hinder productivity, weaken land markets, and negatively impact human rights, social cohesion, and environmental protection.

During the 2nd Ethiopian Land Day, organized by Land for Life under the theme “The Quest for Resilient Land Governance for a Better Life in Ethiopia,”

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Source: capitalethiopia
@Ethiopianbusinessdaily


#Daily_Quiz Which psychological factor can significantly influence a consumer's decision to purchase a product?
Poll
  •   A) Brand loyalty
  •   B) Price elasticity
  •   C) Market segmentation
  •   D) Supply chain logistics
931 votes


Leaders of the Ethiopian Bankers' Association (EBA) proactively address the issue, taking it straight to the Prime Minister's Office. They claim that potential taxation on undistributed dividends, intended for recapitalisation, lacks appropriate legal grounds. They argue that the potential repercussions on the financial sector include risking a crisis from paying billions in taxes on what are essentially reinvested funds.

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Source: addisfortune
@Ethiopianbusinessdaily


Oromia Bank shareholders’ patience appeared to have worn thin, while the Bank’s executives believe that the shift to technology and branch consolidation, combined with disciplined credit management, would help restore their confidence. Whether this recalibration is enough to propel Oromia Bank back to robust profitability remains open. But with a clear priority on cost control, digital expansion, and prudent lending, executives hope to steer the Bank toward a steadier path, aligning its founding ideals with the realities of a modern, increasingly tech-savvy market.

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Source: addisfortune
@Ethiopianbusinessdaily

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