Siket Bank
Siket Bank announced impressive financial results, with a net profit of 1.54 billion Br, representing a 50pc surge from the preceding year. The bank's paid-up capital witnessed a 25pc increase, reaching 5.46 billion Br, exceeding the minimum capital requirement set by the National Bank of Ethiopia.
The bank’s stellar financial performance is further evidenced by a substantial 36pc growth in total deposits, which now stand at 4.9 billion Br. Formerly Addis Credit & Saving Institution, Siket Bank has made significant investments in its infrastructure, implementing a new core banking system and constructing a state-of-the-art data center. (Addis Fortune)
@PatternFin
Siket Bank announced impressive financial results, with a net profit of 1.54 billion Br, representing a 50pc surge from the preceding year. The bank's paid-up capital witnessed a 25pc increase, reaching 5.46 billion Br, exceeding the minimum capital requirement set by the National Bank of Ethiopia.
The bank’s stellar financial performance is further evidenced by a substantial 36pc growth in total deposits, which now stand at 4.9 billion Br. Formerly Addis Credit & Saving Institution, Siket Bank has made significant investments in its infrastructure, implementing a new core banking system and constructing a state-of-the-art data center. (Addis Fortune)
@PatternFin
Coffee price surges to highest on record
Coffee drinkers may soon see their morning treat get more expensive, as the price of coffee on international commodity markets has hit its highest level on record.
On Tuesday, the price for Arabica beans, which account for most global production, topped $3.44 a pound (0.45kg), having jumped more than 80% this year. The cost of Robusta beans, meanwhile, hit a fresh high in September.
It comes as coffee traders expect crops to shrink after the world's two largest producers, Brazil and Vietnam, were hit by bad weather and the drink's popularity continues to grow.
የዓለም ቡና ዋጋ በታሪክ ከፍተኛው ላይ ደረሰ፡፡
ከውሃ ቀጥሎ ሰዎች ዘብዝተው የሚጠጡት ቡና በየጊዜው ዋጋው እየጨመረ ይገኛል፡፡
የዓለማችን ዋነኛ ቡና አምራች ከሆኑ ሀገራት መካከል የሚጠቀሱት ብራዚል እና ቬትናም በጎርፍ እና በድርቅ መመታታቸው በዓለም ቡና ዋጋ ላይ አሉታዊ አስቷጽዖ አድርሷል፡፡
በዚህ ምክንትም አሁን ላይ አንድ ኪሎ ቡና በዓለም ገበያ ላይ በ6 ነጥብ 8 ዶላር እየተሸጠ ሲሆን ኢትዮጵያ የምታመርተው ኮፊ አረቢካ የሚባለው የቡና ዝርያ ደግሞ ውድ ምርት ሆኗል፡፡
BBC
#Coffee #CoffeeArabica #ቡና
Coffee drinkers may soon see their morning treat get more expensive, as the price of coffee on international commodity markets has hit its highest level on record.
On Tuesday, the price for Arabica beans, which account for most global production, topped $3.44 a pound (0.45kg), having jumped more than 80% this year. The cost of Robusta beans, meanwhile, hit a fresh high in September.
It comes as coffee traders expect crops to shrink after the world's two largest producers, Brazil and Vietnam, were hit by bad weather and the drink's popularity continues to grow.
የዓለም ቡና ዋጋ በታሪክ ከፍተኛው ላይ ደረሰ፡፡
ከውሃ ቀጥሎ ሰዎች ዘብዝተው የሚጠጡት ቡና በየጊዜው ዋጋው እየጨመረ ይገኛል፡፡
የዓለማችን ዋነኛ ቡና አምራች ከሆኑ ሀገራት መካከል የሚጠቀሱት ብራዚል እና ቬትናም በጎርፍ እና በድርቅ መመታታቸው በዓለም ቡና ዋጋ ላይ አሉታዊ አስቷጽዖ አድርሷል፡፡
በዚህ ምክንትም አሁን ላይ አንድ ኪሎ ቡና በዓለም ገበያ ላይ በ6 ነጥብ 8 ዶላር እየተሸጠ ሲሆን ኢትዮጵያ የምታመርተው ኮፊ አረቢካ የሚባለው የቡና ዝርያ ደግሞ ውድ ምርት ሆኗል፡፡
BBC
#Coffee #CoffeeArabica #ቡና
Data from the Ethiopian Communications Authority (ECA) shows a significant increase in foreign investment within the country's telecommunications sector.
Annual FDI in telecommunications services (fixed, mobile, and internet) has grown steadily, from 1.7 billion birr in 2017 to 17.4 billion birr by 2022.
This trend aligns with Ethiopia's recent policy reforms to attract foreign investment into its telecommunications sector.
©️Shega
#Safaricom #Ethiotelecom #FDI #Ethiopia
Annual FDI in telecommunications services (fixed, mobile, and internet) has grown steadily, from 1.7 billion birr in 2017 to 17.4 billion birr by 2022.
This trend aligns with Ethiopia's recent policy reforms to attract foreign investment into its telecommunications sector.
©️Shega
#Safaricom #Ethiotelecom #FDI #Ethiopia
Governor Mamo Mihretu hosted a briefing for a large group of CEOs of major African banks on the sidelines of the African Financial Summit held in Casablanca, Morocco. The Governor highlighted that Ethiopia is one of Africa’s last remaining finance frontiers and noted the banking sector’s significant recent growth in terms of assets, capital, and profits as well as the untapped opportunities for new entrants to provide fresh competition through innovative product and service offerings. There was very strong and enthusiastic interest expressed by both banks and DFIs in the Ethiopian market, especially in light of the recent improvement in macro, monetary, and financial sector policies. (NBE)
#DIgitalBanking
#DFS
#ForeignBanks
#Fintech
@PatternFin
#DIgitalBanking
#DFS
#ForeignBanks
#Fintech
@PatternFin
👍1
Over the past decade, the outreach of commercial banks in Ethiopia has seen notable growth. This chart shows the number of commercial bank branches per 100,000 adults from 2004 to 2022, highlighting the increasing accessibility of banking services.
#Shega
#BankBranches
#Commercial_Banks
@PatternFin
#Shega
#BankBranches
#Commercial_Banks
@PatternFin
በሀረሪ ክልል ለኮሪደር ልማት ስራዎችን የሁለት ሚልዮን ብር ድጋፍ እንዲያደርጉ የተጠየቁ የባንክ ቅርንጫፎች በጊዜው ገንዘቡን ገቢ አላደረጋችሁም በሚል በዚህ መልኩ እንዲታሸጉ ተደርጓል፡፡
ቅርንጫፎች የመወሰን ስልጣን እንደሌላቸው እየታወቀ እንደዚህ ማድረግ ለምን እንዳስፈለገ ግልፅ አይደለም፡፡
#ባንኮች
#የባንኮች_ማህበር
@PatternFin
ቅርንጫፎች የመወሰን ስልጣን እንደሌላቸው እየታወቀ እንደዚህ ማድረግ ለምን እንዳስፈለገ ግልፅ አይደለም፡፡
#ባንኮች
#የባንኮች_ማህበር
@PatternFin
👍2❤1
🌐 Five Nations Dominate Africa’s Economy🔥
- South Africa, Egypt, Algeria, Nigeria, and Ethiopia generate half of Africa’s $2.8 trillion GDP.
- The remaining 48 countries contribute the other half. - South Africa leads with a GDP of $373 billion. - This highlights a significant economic divide in Africa.
#Maritimeanaltica
#GDP
#Africa
#EthiopianGDP
@PatternFin
- South Africa, Egypt, Algeria, Nigeria, and Ethiopia generate half of Africa’s $2.8 trillion GDP.
- The remaining 48 countries contribute the other half. - South Africa leads with a GDP of $373 billion. - This highlights a significant economic divide in Africa.
#Maritimeanaltica
#GDP
#Africa
#EthiopianGDP
@PatternFin
አንበሳ ኢንሹራንስ በኢንዱስትሪዉ ከፍተኛዉን የአርቦን ገቢ መሰብሰብ መቻሉን አስታውቋል
በኢንዱስትሪ ደረጃ በበጀት ዓመቱ በጠቅላላ መድን ዘርፉ ብር 28.3 ቢሊዮን አረቦን የተሰበሰበ ሲሆን፤ የአንበሳ ኢንሹራንስ ኩባንያ ደግሞ ብር 1.178 ቢሊዮን የእረቦን ገቢ በማስመዝገብ የገበያ ድርሻውን 4.38 በመቶ ማድረስ መቻሉን ገልጿል።
በተጠናቀቀው በጀት ዓመት ከጠቅላላ መድን ዘርፍ ብር 1.15 ቢሊዮን እና ከህይወትና ጤና መድን ዘርፍ 23.1 ሚሊዩን በድምሩ ብር 1.173 ቢሊዮን የአረቦን ገቢ በማስመዝገብና ግብርና ህጋዊ መጠባበቂያ ተቀንሶ የተገኘው የተጣራ ትርፍ 185.3 ሚሊዮን ብር መሆኑን በሪፖርቱ ጠቁሟል።
ይህ የተባለው ኩባንያው ባካሄደው 17ኛ የባለ-አክሲዮኖች መደበኛ ጉባኤ ላይ ነዉ ። በዚህም በተጠናቀቀዉ ሂሳብ ዓመት አንበሳ ኢንሹራንስ አጠቃላይ ሃብት ብር 2.78 ቢሊዮን የደረሰ ሲሆን፤ ካለፈው ዓመት ጋር ሲነፃጸር የብር 705.9 ሚሊዮን ወይም 33.9 በመቶ እድገት ማስመዝገብ ችሏል ብሏል።
#CapitalNews
#አንበሳኢንሹራንስ
#LionInsurance
#Insurance
@PatternFin
በኢንዱስትሪ ደረጃ በበጀት ዓመቱ በጠቅላላ መድን ዘርፉ ብር 28.3 ቢሊዮን አረቦን የተሰበሰበ ሲሆን፤ የአንበሳ ኢንሹራንስ ኩባንያ ደግሞ ብር 1.178 ቢሊዮን የእረቦን ገቢ በማስመዝገብ የገበያ ድርሻውን 4.38 በመቶ ማድረስ መቻሉን ገልጿል።
በተጠናቀቀው በጀት ዓመት ከጠቅላላ መድን ዘርፍ ብር 1.15 ቢሊዮን እና ከህይወትና ጤና መድን ዘርፍ 23.1 ሚሊዩን በድምሩ ብር 1.173 ቢሊዮን የአረቦን ገቢ በማስመዝገብና ግብርና ህጋዊ መጠባበቂያ ተቀንሶ የተገኘው የተጣራ ትርፍ 185.3 ሚሊዮን ብር መሆኑን በሪፖርቱ ጠቁሟል።
ይህ የተባለው ኩባንያው ባካሄደው 17ኛ የባለ-አክሲዮኖች መደበኛ ጉባኤ ላይ ነዉ ። በዚህም በተጠናቀቀዉ ሂሳብ ዓመት አንበሳ ኢንሹራንስ አጠቃላይ ሃብት ብር 2.78 ቢሊዮን የደረሰ ሲሆን፤ ካለፈው ዓመት ጋር ሲነፃጸር የብር 705.9 ሚሊዮን ወይም 33.9 በመቶ እድገት ማስመዝገብ ችሏል ብሏል።
#CapitalNews
#አንበሳኢንሹራንስ
#LionInsurance
#Insurance
@PatternFin
Bunna Bank
The bank, which has been established for 15 years, announced that its profit decreased by 429 million Birr compared to the same period last year.
It was stated that the high inflation rate, foreign exchange shortage, and the issuance and implementation of overlapping regulatory guidelines during the fiscal year were difficult conditions for the banking sector.
Made a profit of 930M birr before tax!
The bank’s total wealth reached 54.53 billion birr ↑8.14 billion from last year.
The bank's paid-up 4.83B birr ↑549.2 million birr from last year.
Decided to distribute 490.6M birr to the bank's shareholders as dividends.
#BunnaBank
#GeneralAssembly
#DigitalBanking
@PatternFin
The bank, which has been established for 15 years, announced that its profit decreased by 429 million Birr compared to the same period last year.
It was stated that the high inflation rate, foreign exchange shortage, and the issuance and implementation of overlapping regulatory guidelines during the fiscal year were difficult conditions for the banking sector.
Made a profit of 930M birr before tax!
The bank’s total wealth reached 54.53 billion birr ↑8.14 billion from last year.
The bank's paid-up 4.83B birr ↑549.2 million birr from last year.
Decided to distribute 490.6M birr to the bank's shareholders as dividends.
#BunnaBank
#GeneralAssembly
#DigitalBanking
@PatternFin
External Debt of Ethiopia
According to the World Bank International Debt Report 2024 report, Ethiopia's external debt reached $33.2 billion in 2023.
The creditors share of the total debt is;
💰Multilateral creditors 48%
💰Bilateral creditors 36% (China only17%)
💰Private creditors 17%.
👉Debt service remains relatively low at 0.6% of GNI,
👉Net financial flows - $5.79 billion.
From 2010 to 2023, Ethiopia's debt rose significantly, increasing from $7.3 billion to $33.2 billion, driven primarily by long-term loans. In 2023, disbursements rose to $3.82 billion, while principal repayments declined to $1.03 billion. Interest payments also fell to $379 million, providing some relief to the country's debt servicing obligations. Overall, Ethiopia continues to depend heavily on external financing, with multilateral and bilateral creditors playing a central role in its debt structure.
#WorldBank
#Ethiopia
#InternationalDebtReport2024
@PatternFin
According to the World Bank International Debt Report 2024 report, Ethiopia's external debt reached $33.2 billion in 2023.
The creditors share of the total debt is;
💰Multilateral creditors 48%
💰Bilateral creditors 36% (China only17%)
💰Private creditors 17%.
👉Debt service remains relatively low at 0.6% of GNI,
👉Net financial flows - $5.79 billion.
From 2010 to 2023, Ethiopia's debt rose significantly, increasing from $7.3 billion to $33.2 billion, driven primarily by long-term loans. In 2023, disbursements rose to $3.82 billion, while principal repayments declined to $1.03 billion. Interest payments also fell to $379 million, providing some relief to the country's debt servicing obligations. Overall, Ethiopia continues to depend heavily on external financing, with multilateral and bilateral creditors playing a central role in its debt structure.
#WorldBank
#Ethiopia
#InternationalDebtReport2024
@PatternFin
😁1
Reflections on Parkinson’s Law
==========================
A year ago, I received an email from a junior staff member from one of our branches. The email detailed an unexpected situation: the branch manager had rejected a customer’s deposit of 20 million. At first, I couldn’t understand why, especially given the competitive push for deposit mobilization. As I read further, the reason became clear—and shocking.
The branch manager had already met his annual deposit target three months before the year’s end. His concern? Accepting the additional deposit might lead to a higher target being set for the next year—something he felt would be more challenging to achieve.
This incident was both surprising and concerning. It highlighted a deeper issue that I believe is prevalent in many organizations: the unintended consequences of target setting and the behaviors it can drive. Reflecting on this, I connected this phenomenon to a concept that I knew from the PMI-Book reading —> Parkinson’s Law.
Parkinson’s Law, introduced by British historian Cyril Northcote Parkinson, suggests that “work expands to fill the time available for its completion.” When too much time or overly generous plans are allotted for tasks, efficiency can suffer, and individuals or teams may overcomplicate or delay work unnecessarily.
The same principle applies to goal-setting and performance management. When targets are poorly calibrated or perceived as overly ambitious, they can inadvertently lead to counterproductive behaviors.
As leaders, we must ensure that goals, plans, and timelines are not only ambitious but also realistic and well-aligned. Striking this balance fosters a culture of efficiency, accountability, and trust.
I’m curious—have you encountered similar situations in your leadership journey? How have you managed or resolved such challenges? Let’s exchange insights on overcoming the “Parkinson’s effect” in your workplaces.
Via #Melaku_Kebede
#Planning
#GoalSetting
#Parkinsonlaw
@PatternFin
==========================
A year ago, I received an email from a junior staff member from one of our branches. The email detailed an unexpected situation: the branch manager had rejected a customer’s deposit of 20 million. At first, I couldn’t understand why, especially given the competitive push for deposit mobilization. As I read further, the reason became clear—and shocking.
The branch manager had already met his annual deposit target three months before the year’s end. His concern? Accepting the additional deposit might lead to a higher target being set for the next year—something he felt would be more challenging to achieve.
This incident was both surprising and concerning. It highlighted a deeper issue that I believe is prevalent in many organizations: the unintended consequences of target setting and the behaviors it can drive. Reflecting on this, I connected this phenomenon to a concept that I knew from the PMI-Book reading —> Parkinson’s Law.
Parkinson’s Law, introduced by British historian Cyril Northcote Parkinson, suggests that “work expands to fill the time available for its completion.” When too much time or overly generous plans are allotted for tasks, efficiency can suffer, and individuals or teams may overcomplicate or delay work unnecessarily.
The same principle applies to goal-setting and performance management. When targets are poorly calibrated or perceived as overly ambitious, they can inadvertently lead to counterproductive behaviors.
As leaders, we must ensure that goals, plans, and timelines are not only ambitious but also realistic and well-aligned. Striking this balance fosters a culture of efficiency, accountability, and trust.
I’m curious—have you encountered similar situations in your leadership journey? How have you managed or resolved such challenges? Let’s exchange insights on overcoming the “Parkinson’s effect” in your workplaces.
Via #Melaku_Kebede
#Planning
#GoalSetting
#Parkinsonlaw
@PatternFin
👍1
ለረጅም ጊዜ በስራ የቆየውን የሀገር ውስጥ ባንኮች ከለላ የሚሰጠውን የባንክ ስራ አዋጅ፤ የውጭ ባንኮች መግባት በሚፈቅድ መልኩ በዛሬ ቀን በህ.ተ.ም.ቤት ይፀድቃል ተብሎ ይጠበቃል፡፡
@PatternFin
@PatternFin
👍2