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Last Week in the Economy: Ethiopia Revalues Economy to $210B Amid Persistent Inflation

StockMarket.et · yesterday · Read the Full Story on StockMarket.et
Last Week in the Economy: Ethiopia Revalues Economy to $210B Amid Persistent Inflation
AI SUMMARY

Ethiopia rebased its economy to 31.86 trillion birr while facing 14.6% October inflation, major foreign exchange debt revaluation losses at Electric Power, and shifting financial landscapes across telecom and banking sectors.

  • Ethiopia’s economy for 2025/26 is revalued at 31.86 trillion birr or about $210.7 billion after rebasing, compared to the IMF’s earlier estimate of $127 billion.
  • Annual inflation slowed slightly to 14.6% in October from 14.9% in September, with non-food inflation rising to 15.4% to surpass food inflation at 14.1%.
  • The National Bank of Ethiopia kept its policy rate at 16% and stated that single-digit inflation is at least six months away.
  • The IMF urged the National Bank of Ethiopia to withdraw from the gold market where it currently acts as the sole authorized buyer and exporter.
  • Safaricom Ethiopia reported a pre-tax loss before interest and tax of KES 11.4 billion for the six months to September, with active customers reaching approximately 15.4 million.
  • Safaricom Ethiopia's cumulative funding reached $2.84 billion, consisting of $2.37 billion in equity and $474 million in debt.
  • Ahadu Bank posted a pre-tax profit of 1.07 billion birr for 2025/26, representing a 113.1% increase, and is preparing a prospectus to enter the capital market.
  • IFC made its first investment in Kifiya Financial Technology to support agricultural lending and expansion across African markets.
  • Ethiopian Electric Power reported a net loss of 122.08 billion birr for the year to July 7, 2025, driven by 290.51 billion birr in net foreign exchange losses on borrowings and cash after currency reforms.
  • Ethiopia and China signed a $15 million grant for supplementary works on the Ethio-Djibouti railway, covering spare parts, hardware, and technical training.
Read the Full Story on StockMarket.et
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