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Ethio Telecom Accelerates Growth on Digital Push as Telebirr Sets New Records

State-owned telecom provider Ethio Telecom has reported its fastest profit and revenue growth in years, driven by rising demand for digital services across Ethiopia. Meanwhile, its mobile money unit Telebirr continues hitting milestones that are deepening financial inclusion in the nation. Ethio Telecom announced this week that net profit jumped 21 percent to 21.8 billion […]

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New Ethiopian Platform Connects Ethiopian Fans Directly with Celebrity Talent

Zemeo, a pioneering Ethiopian startup, is bringing the popular Cameo-style celebrity video message platform to the East African nation. Founded just 9 months ago, Zemeo has already signed up an impressive roster of 134 celebrities across various industries – from top Instagram influencers like Hanan Tarik to 90s entertainment sensations like Abent Agonafir. The platform

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SACCOmania Sweeps Addis Ababa

Flexibility sought as sector’s loans, members multiply. Savings and credit cooperatives (SACCOs) have become major players in Ethiopia’s financial landscape, filling an important gap in access to credit left unmet by traditional banks. As consumer demand for loans has intensified in recent years, particularly to purchase vehicles and housing, SACCOs have experienced rapid growth by

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Prolonged Drought for Insurers

3+ Years Pass Without a Single New Entrant in Ethiopia’s Neglected Sector While Ethiopia’s banking sector boomed with player numbers doubling, its insurance industry stagnated over six years despite premiums skyrocketing. Only one new insurer entered despite a 25 billion birr premium jump. Insurers face obstacles like inflation eroding margins, regulatory barriers hindering innovation, and

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Bonda Booms Edge Out Homegrown Fashion

Used clothing imports known locally as “bonda” have come to dominate over half of Ethiopia’s clothing market in recent decades. Bonda provides affordable garment options that are appealing to consumers across income levels. Since the 1980s, bulk shipments of sorted Western overstock and returns have been arriving from abroad and sold locally. This has posed

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PM Abiy Updates Lawmakers on Ethiopia’s Growth, Debt Woes and IMF Talks

Ethiopian Prime Minister Abiy Ahmed (PhD) gave lawmakers an extensive rundown on Thursday of his government’s economic stewardship to date as well as ongoing fiscal and monetary challenges. In his address to parliament, Abiy said Ethiopia has brought down its debt-to-GDP ratio from previous high levels to 17.5 percent currently. “Our target is to reach

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