🌐 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
📌 Major Changes in the New NBE Proclamation:
💰 Short-Term Debt Instruments: It allows the NBE to issue its own short-term debt instruments as part of open market operations.
🖥 Regulatory Sandbox: The bill establishes and implements a regulatory sandbox framework to facilitate the testing and introduction of new and innovative financial services in the market.
💰 Authorized Capital: The authorized capital of the NBE is set at 20 billion Birr, with a minimum paid-up capital of 10 billion Birr, an increase from the previous half a billion Birr.
💰 General Reserve Fund: The net profit will be transferred to the General Reserve Fund until it equals 5% of the monetary liabilities of the NBE.
👨💼 Board Composition: The board of the National Bank will expand from seven to nine members.
💼 Financial Stability Committee: A Financial Stability Committee with seven members will be established under the NBE to regularly assess, analyze, and identify systemic risks to the financial system, propose macro and microprudential policies, and recommend policies related to the Lender of Last Resort and other crisis management tools.
💼 Monetary Policy Committee: A Monetary Policy Committee with seven members will also be established under the NBE, responsible for preparing and proposing monetary policy.
💰 Central Bank Digital Currency: The Board may issue directives regarding the operation of Central Bank Digital Currency.
@PatternFin
💰 Short-Term Debt Instruments: It allows the NBE to issue its own short-term debt instruments as part of open market operations.
🖥 Regulatory Sandbox: The bill establishes and implements a regulatory sandbox framework to facilitate the testing and introduction of new and innovative financial services in the market.
💰 Authorized Capital: The authorized capital of the NBE is set at 20 billion Birr, with a minimum paid-up capital of 10 billion Birr, an increase from the previous half a billion Birr.
💰 General Reserve Fund: The net profit will be transferred to the General Reserve Fund until it equals 5% of the monetary liabilities of the NBE.
👨💼 Board Composition: The board of the National Bank will expand from seven to nine members.
💼 Financial Stability Committee: A Financial Stability Committee with seven members will be established under the NBE to regularly assess, analyze, and identify systemic risks to the financial system, propose macro and microprudential policies, and recommend policies related to the Lender of Last Resort and other crisis management tools.
💼 Monetary Policy Committee: A Monetary Policy Committee with seven members will also be established under the NBE, responsible for preparing and proposing monetary policy.
💰 Central Bank Digital Currency: The Board may issue directives regarding the operation of Central Bank Digital Currency.
@PatternFin
👍1
A transformative shift in the banking industry is unfolding in 🇪🇹 as the draft legislative is ratified on today.
Pic ©️ Fasika Tadesse
#BankingBusinessProclamation
#NBE
@PatternFin
Pic ©️ Fasika Tadesse
#BankingBusinessProclamation
#NBE
@PatternFin
👍1
Ethiopia Opens Doors to Foreign Banks: Landmark Proclamation Paves the Way for International Investment
The National Bank of Ethiopia (NBE) has secured approval for its draft proclamation, introducing transformative reforms aimed at ensuring economic stability, fostering innovation, and strengthening governance.
At the heart of the proclamation is a recalibrated monetary policy framework, empowering the NBE to prioritize its objectives and deploy the most effective tools to achieve its goals. This includes the establishment of a Monetary Policy Committee to enhance decision-making and improve policy outcomes.
A bold feature of the reform is the introduction of a legal framework for a central bank digital currency (CBDC), signaling Ethiopia’s readiness to explore next-generation financial solutions and digitized monetary systems. Experts believe this could pave the way for greater financial inclusion and efficiency.
The proclamation also strengthens Ethiopia’s financial safety nets through the creation of a National Financial Stability Committee, tasked with safeguarding the resilience of the financial sector amid economic shifts. Furthermore, new measures will formalize price stability targets, designed in consultation with key government stakeholders to curb inflation and promote sustainable growth.
On the governance front, the proclamation redefines leadership structures, specifying the tenure, composition, and eligibility criteria for the NBE Board, Governor, and Vice Governors, ensuring greater accountability and transparency at the institution’s helm. It also sets clearer rules for the NBE’s relationship with the government, particularly concerning borrowing limits and loan repayment modalities, to foster fiscal discipline.
Significantly, the proclamation addresses consumer protection by establishing a legal framework to safeguard financial service users—an increasingly vital need as Ethiopia’s banking and fintech sectors evolve rapidly.
In a parallel development, Ethiopia’s Parliament has passed a landmark banking proclamation that opens the door for foreign banks to enter the country’s financial sector. The new legislation allows foreign banks to purchase shares in local banks and, with case-by-case approval from the NBE, to fully acquire them. This reform marks a major step in opening Ethiopia’s banking industry to international investment, further enhancing the country’s financial ecosystem. Via #AddisInsight
#NBE
#BankingBusiness
#ForeignBanksEntry
@PatternFin
The National Bank of Ethiopia (NBE) has secured approval for its draft proclamation, introducing transformative reforms aimed at ensuring economic stability, fostering innovation, and strengthening governance.
At the heart of the proclamation is a recalibrated monetary policy framework, empowering the NBE to prioritize its objectives and deploy the most effective tools to achieve its goals. This includes the establishment of a Monetary Policy Committee to enhance decision-making and improve policy outcomes.
A bold feature of the reform is the introduction of a legal framework for a central bank digital currency (CBDC), signaling Ethiopia’s readiness to explore next-generation financial solutions and digitized monetary systems. Experts believe this could pave the way for greater financial inclusion and efficiency.
The proclamation also strengthens Ethiopia’s financial safety nets through the creation of a National Financial Stability Committee, tasked with safeguarding the resilience of the financial sector amid economic shifts. Furthermore, new measures will formalize price stability targets, designed in consultation with key government stakeholders to curb inflation and promote sustainable growth.
On the governance front, the proclamation redefines leadership structures, specifying the tenure, composition, and eligibility criteria for the NBE Board, Governor, and Vice Governors, ensuring greater accountability and transparency at the institution’s helm. It also sets clearer rules for the NBE’s relationship with the government, particularly concerning borrowing limits and loan repayment modalities, to foster fiscal discipline.
Significantly, the proclamation addresses consumer protection by establishing a legal framework to safeguard financial service users—an increasingly vital need as Ethiopia’s banking and fintech sectors evolve rapidly.
In a parallel development, Ethiopia’s Parliament has passed a landmark banking proclamation that opens the door for foreign banks to enter the country’s financial sector. The new legislation allows foreign banks to purchase shares in local banks and, with case-by-case approval from the NBE, to fully acquire them. This reform marks a major step in opening Ethiopia’s banking industry to international investment, further enhancing the country’s financial ecosystem. Via #AddisInsight
#NBE
#BankingBusiness
#ForeignBanksEntry
@PatternFin
👍2
Siinqee Bank
Siinqee Bank's Shareholders have Voted to Establish an Investment Bank Subsidiary.
Siinqee Bank's shareholders have voted to establish an investment bank as part of a broader plan to enter Ethiopia's capital market ecosystem.
The founding president Neway Megerssa announced that Deloitte was selected as an advisor to develop a business plan within three months, following an international bid. Deloitte, licensed by the Ethiopia Capital Market Authority (ECMA), is one of the firms qualified for this role.
Via #Capital Markets in Ethiopia
#InvestmentBank
#Deloitte
#ECMA
@PatternFin
Siinqee Bank's Shareholders have Voted to Establish an Investment Bank Subsidiary.
Siinqee Bank's shareholders have voted to establish an investment bank as part of a broader plan to enter Ethiopia's capital market ecosystem.
The founding president Neway Megerssa announced that Deloitte was selected as an advisor to develop a business plan within three months, following an international bid. Deloitte, licensed by the Ethiopia Capital Market Authority (ECMA), is one of the firms qualified for this role.
Via #Capital Markets in Ethiopia
#InvestmentBank
#Deloitte
#ECMA
@PatternFin
👍1
Our commercial banks are heralding us with their intent to establish investment banks. Do they have competitive advantages for this nascent industry?
Delving beyond the surface of similar industry names, while commercial banks primarily focus on accepting deposits and providing loans, investment banks specialize in services like underwriting, mergers and acquisitions, and advisory for large corporations and institutional investors.
Investment bankers are known worldwide for their extended working hours of numbers-crunching ranging from 80 to more than 100 hours per week. This extremely rigorous activity permits little room for errors in financial modeling and analysis. A slight error could result in catastrophe for the target business and investing public.
Given our commercial banks' practice of heavy reliance on physical collaterals to approve loans rather than through extensive financial analysis, their competencies for investment banking activities need to be verified before earmarking their shareholders' resources for this highly demanding venture.
By #Million_Kibret
#InvestmentBank
#ESX
#ECMA
@PatternFin
Delving beyond the surface of similar industry names, while commercial banks primarily focus on accepting deposits and providing loans, investment banks specialize in services like underwriting, mergers and acquisitions, and advisory for large corporations and institutional investors.
Investment bankers are known worldwide for their extended working hours of numbers-crunching ranging from 80 to more than 100 hours per week. This extremely rigorous activity permits little room for errors in financial modeling and analysis. A slight error could result in catastrophe for the target business and investing public.
Given our commercial banks' practice of heavy reliance on physical collaterals to approve loans rather than through extensive financial analysis, their competencies for investment banking activities need to be verified before earmarking their shareholders' resources for this highly demanding venture.
By #Million_Kibret
#InvestmentBank
#ESX
#ECMA
@PatternFin
👍2
📌 Major highlights from the new banking law that allows foreign banks to enter the nation’s previously closed banking sector.
🏦 The proclamation permits overseas firms to acquire stakes in existing or new domestic banks, establish subsidiaries, open branches, or set up representative offices.
💰 Direct shareholding by strategic foreign investors is limited to 40%, while total holdings by non-citizens and foreign-owned companies are capped at 49%. Non-strategic foreign national investors and foreign juridical persons are limited to 7% and 10% of subscribed shares in a bank, respectively.
💵 All foreign investments must be made in foreign currency, and the number of foreign banks allowed to enter the sector will be determined by the central bank.
💼 The law allows foreign banks to take over distressed lenders on an exceptional basis to ensure financial stability.
🤝 The board of directors of a bank must include independent directors.
📄 A bank must prepare a recovery plan outlining measures to restore its financial position in the event of severe stress. This plan, which should be approved by the NBE, should be updated at least annually or whenever there are significant changes.
🉑 A bank cannot enter into a merger without prior written approval from the National Bank, nor can it engage in any share transfer or purchase that results in significant ownership changes without NBE’s approval.
©️Fasika Tadesse
@PatterFin
🏦 The proclamation permits overseas firms to acquire stakes in existing or new domestic banks, establish subsidiaries, open branches, or set up representative offices.
💰 Direct shareholding by strategic foreign investors is limited to 40%, while total holdings by non-citizens and foreign-owned companies are capped at 49%. Non-strategic foreign national investors and foreign juridical persons are limited to 7% and 10% of subscribed shares in a bank, respectively.
💵 All foreign investments must be made in foreign currency, and the number of foreign banks allowed to enter the sector will be determined by the central bank.
💼 The law allows foreign banks to take over distressed lenders on an exceptional basis to ensure financial stability.
🤝 The board of directors of a bank must include independent directors.
📄 A bank must prepare a recovery plan outlining measures to restore its financial position in the event of severe stress. This plan, which should be approved by the NBE, should be updated at least annually or whenever there are significant changes.
🉑 A bank cannot enter into a merger without prior written approval from the National Bank, nor can it engage in any share transfer or purchase that results in significant ownership changes without NBE’s approval.
©️Fasika Tadesse
@PatterFin
👍2
አዲሱ የኢትዮጵያ ብሔራዊ ባንክ አዋጅ ቁጥር 1359/2017 ጸደቀ | RATIFICATION OF THE NEW NATIONAL BANK OF ETHIOPIA PROCLAMATION NO. 1359/2017
#NBE
#የኢትዮጵያብሔራዊባንክ
@PatternFin
#NBE
#የኢትዮጵያብሔራዊባንክ
@PatternFin
Who do you think will be perfectly benefited from foreign banks entry?
Final Results
6%
Local private banks
2%
Commercial Bank of Ethiopia
20%
Foreign investors
22%
Consumers
13%
Corporate borrowers
17%
Foreign banks
17%
Government of Ethiopia
2%
Others
Forwarded from Pattern Finance and Investment Chat
Who do you think will be most negatively affected?
Final Results
71%
Local private banks
8%
Commercial Bank of Ethiopia
10%
Local shareholders/investors
3%
Consumers
4%
Retail borrowers
2%
Foreign banks
1%
Others
ESX has officially started an online training hub called ESX Digital Academy which specialized on finance and capital market.
You can enrol via the link below.
https://esxacademy.com/
#ESX
@PatternFin
You can enrol via the link below.
https://esxacademy.com/
#ESX
@PatternFin