Economy
The Past Week in Finance
StockMarket.et · 2 days ago · Read the Full Story on StockMarket.et
AI SUMMARY
Dangote launched Africa's largest IPO in Addis Ababa for up to 100 qualified Ethiopian investors, while national inflation eased and debt restructuring talks progressed.
- The Ethiopian Capital Market Authority issued a notice allowing up to 100 qualified Ethiopian investors to buy into the Dangote Petroleum Refinery IPO until October 23 at ETB 74.90 per share.
- Aliko Dangote pledged that 10% of his group's Ethiopian fertilizer business will be listed on the Ethiopian Securities Exchange.
- Dangote is building a $2.5 billion urea fertilizer complex in Gode, Somali Region, in partnership with Ethiopian Investment Holdings.
- Ethiopia’s annual headline inflation slowed to 14.9% in September from 15.1% in August.
- The National Bank of Ethiopia sold USD 140 million at Foreign Exchange Auction No. 30 at a weighted average rate of 160.1072 birr per dollar.
- The Ministry of Finance plans to issue 133.97 billion birr in Treasury bills in the second quarter of the 2026/27 fiscal year.
- IMF discussions on Ethiopia’s sixth review under the Extended Credit Facility are expected in November, with an Executive Board decision in early 2027.
- Ethiopia has finalized 11 of 14 bilateral debt agreements with official creditors, but its $1 billion Eurobond exchange remains pending.
- Fitch Ratings affirmed Ethiopia’s long-term foreign-currency rating at Restricted Default on October 16.
- The Cooperative Bank of Oromia posted a profit before tax of ETB 11.47 billion for the 2025/26 fiscal year.
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