Author Archives: eba

30

Nov

Cooperative Bank of Oromia

4

Feb

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4

Feb

Chinese Investment in Ethiopia: Developmental Opportunity or Deepening China’s New Mercantilism?

Contrary to Western debt and assistance marked by various forms of economic and political overtones, China, using the South-South Cooperation, is in the process of bestowing a mix of loans with generous terms, debt forgiveness, infrastructure development, and other assistance to African nations so that they could be relieved from Western cultural, political, and economic hegemony. African governments have appreciated and responded enthusiastically to this new source of bottom-up, multiple,...

21

Jan

Integrated National ATM System to Be Launched

All banks operating in Ethiopia are going to have a national payment system that grants them an integrated system of automated teller machines (ATM). The newly to be launched system is said to enable customers access ATM service from any bank. A company, Etswitch S.C., is set up by Ethiopian banks in order to network and administer the operation. Bizuneh Bekele, CEO of Etswitch, noted preparations to start the networking...

16

Jan

New equity firm to invest in Ethiopian companies

A new private equity firm based in Mauritius, Ascent Capital, is looking forword to financing local businesses including start-ups in Ethiopia. The company on Friday officially opened its office in Addis Ababa in Abyssinia Mall near Bole Medhayialem Church. Lucas Kranck, managing partner, told Reporters that Ascent Capital has raised USD 50 million to be invested in Uganda, Kenya and Ethiopia. Kranck, one of the founders of Ascent, said his...

16

Jan

Foreign banks warm-up as Ethiopia signals opening the market

Ethiopia’s financial and telecom sectors were at the center of discussions during this week’s the Economist Ethiopia Summit. The country’s officials show signals to open the financial market for foreign investors after some time, while they indicated that Ethiopia has no intention at all to entertain foreign telecom operators. At the summit opened on Wednesday by the Prime Minister Hailemariam Desalegn, some of the invited panelists stressed the financial shortages...