Wegagen Capital Posts 46.6 Million Birr Profit in First Full Year
Wegagen Capital Investment Bank (WCIB) has concluded its first full year of commercial operations with a profit before tax of 46.6 million Birr. This result marks a turnaround from...
Aksion Latest News
Latest Ethiopian capital market news, business analysis, and financial intelligence from Aksion.ET.
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Canaan Pauses Bitcoin Mining Operations in Ethiopia
Hardware manufacturer Canaan has suspended its Bitcoin mining activities in Ethiopia, leaving 35 percent of its global reported hashrate capacity inactive.
Hijra Bank Proposes Digital Transaction Data as Alternative Collateral for MSMEs
Hijra Bank is advocating for the use of digital payment records from its HalalPay platform as a substitute for physical collateral to improve credit access for Ethiopian small and medium-sized enterprises.
Foreigners Can Now Own a Home in Ethiopia From $100,000
The Ministry of Urban and Infrastructure has officially released Directive 1147/2018, providing the legal framework for foreign nationals to acquire residential property in Ethiopi...
NBE Confirms Abduljuhad Hassen Muhammed as Shabelle Bank CEO
The National Bank of Ethiopia (NBE) has formally approved the appointment of Abduljuhad Hassen Muhammed as the Chief Executive Officer of Shabelle Bank S.C. The confirmation, issue...
Dangote Targets October Groundbreaking for $16 Billion Kenya Refinery
Nigerian billionaire Aliko Dangote has confirmed that his conglomerate will break ground on a massive 700,000-barrel-per-day (bpd) refinery on Kenya's Lamu coast by October 2026. T...
Siket Bank Reports 1.54 Billion Birr Pre-Tax Profit for 2025/26 Fiscal Year
Siket Bank concluded the 2025/26 fiscal year with a pre-tax profit of 1.54 billion Birr and total assets reaching 29 billion Birr.
Ethiopian Capital Market Authority Registers Hibret Bank Shares
The Ethiopian Capital Market Authority has officially registered over 11.6 million existing shares of Hibret Bank S.C. in compliance with national capital market regulations.
Ethiopian Securities Exchange Appoints Yodit Kassa as CEO
The Ethiopian Securities Exchange (ESX) has announced a leadership transition, naming Yodit Kassa as its new Chief Executive Officer. She succeeds Dr. Tilahun Esmael Kassahun, the...
NBE Grants CNETPay Payment System Operator License
The National Bank of Ethiopia (NBE) has issued a Payment System Operator (PSO) license to CNETPay Financial Technologies S.C., authorizing the firm to operate payment gateway and p...