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Private Banks Continue their profitability for Half of 2022/2021 fiscal year

Private banks in Ethiopia are continuing their profitable trend into the 2022/2021 financial year. According to their half year financial report, most banks were able to double their profitability compared to the 6 months in 2021/2020 financial year.

Awash Bank has managed to earn a gross profit of 4.6 billion birr while Abyssinia Bank grossed 3.3 billion birr for the first 6 months of 2022/2021 half year.

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Annual Report for Financial Performance of Ethiopian Banks for 2021/2020 G.C (2013 E.C) budget year

Most private banks in Ethiopia have reported their annual financial report for the 2021/2020 G.C (2013 E.C) budget year. We have compiled key indicators from their annual financial reports and have also estimated data for remaining banks by carefully analyzing previous year growth, current year’s performance as well as other key factors. The following table will be adjusted whenever new and verified information is available.

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Annual Financial Performance of Ethiopian Insurance Companies for 2021/2020 G.C (2013 E.C) budget year

Most private insurance companies in Ethiopia have reported their annual financial report for the 2021/2020 G.C (2013 E.C) budget year which ended on June 30, 2021 G.C (ሰኔ 2013). We compiled their annual report and have also estimated data for remaining insurance companies by carefully analyzing previous year growth, current year’s performance as well as other key factors. The following table will be adjusted whenever new and verified information is available.

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Most profitable Ethiopian Private Insurance Companies for 2021/2020 budget year

A number of private insurance companies in Ethiopia have reported their unaudited gross profits for the 2021 / 2020 G.C (2013 E.C) budget year which ended on June 30, 2021 G.C (ሰኔ 2013). We have estimated the profit of the remaining insurance companies by carefully analyzing previous year growth, current year’s performance as well as other key factors. The following table will be adjusted whenever new and verified information is available.

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Annual FDI Earning of Ethiopia Reaches 3.9 billion USD

The Ethiopian Investment Commission (EIC) revealed that the country has managed to attract over USD 3.9 billion in Foreign Direct Investment (FDI) during the Ethiopian fiscal year that ended on July 8, 2021.

The USD 800 million telecom license fee paid by the international consortium Safaricom to enter the Ethiopian market as the first telecom service provider accounts for the larger portion of the annual FDI drawn.

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Products and Services in Ethiopia

Date: May 12, 2022
Currency (Code)Buying RateSelling Rate
US DollarUS Dollar(USD)51.457152.4862
EuroEuro(EUR)54.318155.4045
Pound SterlingPound Sterling(GBP)60.709461.9236
UAE DirhamUAE Dirham(AED)12.676912.9304
Saudi RiyalSaudi Riyal(SAR)12.414312.6626
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