Are hashtag#Insurance hashtag#stocks set to collapse?
LA wildfires have officially spread over 40,000 acres with INSURANCE LOSSES crossing $20 billion. Since the market closed on Friday, ESTIMATED DAMAGES have TRIPLED to $150 billion.
Insurance, power company, and other corporate bankruptcies could emerge from this.
As seen with the PG&E bankruptcy in 2019 after the Camp Fire disaster, these events can create economic ripple effects. E.g many bonds will be downgraded to "Junk" rating in the near future.
Could LA wildfires cause an economic ripple effect?
Source: The Kobeissi Letter
@PatternFin
LA wildfires have officially spread over 40,000 acres with INSURANCE LOSSES crossing $20 billion. Since the market closed on Friday, ESTIMATED DAMAGES have TRIPLED to $150 billion.
Insurance, power company, and other corporate bankruptcies could emerge from this.
As seen with the PG&E bankruptcy in 2019 after the Camp Fire disaster, these events can create economic ripple effects. E.g many bonds will be downgraded to "Junk" rating in the near future.
Could LA wildfires cause an economic ripple effect?
Source: The Kobeissi Letter
@PatternFin
Minimum Capital Requirement!
Sixteen commercial banks require over 45 billion birr of additional investment to meet the 5-billion-birr minimum capital requirement set by the National Bank of Ethiopia (NBE).
Source; Capital Market in Ethiopia
@PatternFin
Sixteen commercial banks require over 45 billion birr of additional investment to meet the 5-billion-birr minimum capital requirement set by the National Bank of Ethiopia (NBE).
Source; Capital Market in Ethiopia
@PatternFin
👍1
#InterestFreeBanking Hijira Bank's net profit rocketed over four times its previous record in 2023/24, posting more than 100 million Br after tax. The Bank showed no signs of slowing its pace, making its mark in the industry and proving its ability to innovate within the ever-evolving regulatory constraints.
Source; #AddisFortune
#Hijrabank
#Interestfreebanking
@PatternFin
Source; #AddisFortune
#Hijrabank
#Interestfreebanking
@PatternFin
👍2
Have you ever heard of the Dunning-Kruger Effect?
David Dunning and Justin Kruger, shared this concept in a 1999 study titled "Unskilled and Unaware of It: How Difficulties in Recognizing One's Own Incompetence Lead to Inflated Self-Assessments." It’s a cognitive bias where people with limited knowledge or expertise in a subject often overestimate their abilities, while those with greater competence tend to underestimate their expertise.
In leadership, this phenomenon can manifest in interesting ways:
1️⃣ Overconfidence in early stages: New or inexperienced leaders might overestimate their skills, believing they have all the answers. While confidence is valuable, overconfidence can lead to poor decisions or resistance to feedback.
2️⃣ Self-doubt in experienced leaders: On the flip side, seasoned leaders—who are acutely aware of the complexities of leadership—may underestimate their own expertise, questioning their abilities more than they should.
Why does this matter?
Great leadership requires self-awareness. Leaders need to balance confidence with humility:
For new leaders: Be open to feedback, recognize the value of diverse perspectives, and remain committed to learning.
For experienced leaders: Remember that your expertise is built on years of hard work. Share your knowledge confidently, even if you feel there’s more to learn.
Now, let’s address two practical questions:
1️⃣ How do you approach someone with overconfidence?
Start with curiosity: Ask open-ended questions to understand their perspective and reasoning. This can help them reflect on their assumptions without feeling defensive.
Offer constructive feedback: Share observations gently, using examples or data to highlight areas they may have overlooked. Focus on collaboration rather than criticism.
Encourage learning: Suggest resources, mentors, or training that can expand their knowledge and deepen their skills. Helping them grow is more effective than confronting them directly.
2️⃣ How can you speak up more courageously when you have the knowledge and experience?
Trust your expertise: Remind yourself of the work and effort that built your knowledge. Others may need your insights to make better decisions.
Frame your input constructively: Instead of saying, "You're wrong," try "Here’s another perspective we might consider." This makes it easier for others to engage with your ideas.
Practice small steps: Start speaking up in less intimidating scenarios to build confidence. Over time, this will make it easier to share your thoughts in high-stakes situations.
The key takeaway? Leadership is a journey. Recognizing where you (and your team) might fall on the Dunning-Kruger curve—and addressing it proactively—can lead to better growth, collaboration, and decision-making.
Source; Timothy T Tiryaki, PhD (LinkedIn)
Share us your thoughts on the comment section❗️
@PatternFin
David Dunning and Justin Kruger, shared this concept in a 1999 study titled "Unskilled and Unaware of It: How Difficulties in Recognizing One's Own Incompetence Lead to Inflated Self-Assessments." It’s a cognitive bias where people with limited knowledge or expertise in a subject often overestimate their abilities, while those with greater competence tend to underestimate their expertise.
In leadership, this phenomenon can manifest in interesting ways:
1️⃣ Overconfidence in early stages: New or inexperienced leaders might overestimate their skills, believing they have all the answers. While confidence is valuable, overconfidence can lead to poor decisions or resistance to feedback.
2️⃣ Self-doubt in experienced leaders: On the flip side, seasoned leaders—who are acutely aware of the complexities of leadership—may underestimate their own expertise, questioning their abilities more than they should.
Why does this matter?
Great leadership requires self-awareness. Leaders need to balance confidence with humility:
For new leaders: Be open to feedback, recognize the value of diverse perspectives, and remain committed to learning.
For experienced leaders: Remember that your expertise is built on years of hard work. Share your knowledge confidently, even if you feel there’s more to learn.
Now, let’s address two practical questions:
1️⃣ How do you approach someone with overconfidence?
Start with curiosity: Ask open-ended questions to understand their perspective and reasoning. This can help them reflect on their assumptions without feeling defensive.
Offer constructive feedback: Share observations gently, using examples or data to highlight areas they may have overlooked. Focus on collaboration rather than criticism.
Encourage learning: Suggest resources, mentors, or training that can expand their knowledge and deepen their skills. Helping them grow is more effective than confronting them directly.
2️⃣ How can you speak up more courageously when you have the knowledge and experience?
Trust your expertise: Remind yourself of the work and effort that built your knowledge. Others may need your insights to make better decisions.
Frame your input constructively: Instead of saying, "You're wrong," try "Here’s another perspective we might consider." This makes it easier for others to engage with your ideas.
Practice small steps: Start speaking up in less intimidating scenarios to build confidence. Over time, this will make it easier to share your thoughts in high-stakes situations.
The key takeaway? Leadership is a journey. Recognizing where you (and your team) might fall on the Dunning-Kruger curve—and addressing it proactively—can lead to better growth, collaboration, and decision-making.
Source; Timothy T Tiryaki, PhD (LinkedIn)
Share us your thoughts on the comment section❗️
@PatternFin
Property Tax Proclamation!
The house of People's Representatives in it's 4th year, 15th regular meeting has approved the draft proclamation on Property Tax.
The house passed a resolution to endorse the tax law and ratified the draft under proclamation number 1365/2017.
@PatternFin
The house of People's Representatives in it's 4th year, 15th regular meeting has approved the draft proclamation on Property Tax.
The house passed a resolution to endorse the tax law and ratified the draft under proclamation number 1365/2017.
@PatternFin
A Perfect Storm
Ethiopia’s Banking Sector Navigates Uncharted Waters
Ethiopia’s banking sector is currently grappling with a severe liquidity crunch, causing significant distress to individuals and businesses. The effects are palpable, with delayed transfers, restricted cash withdrawals, and challenges in securing loans becoming the norm.
Why are banks struggling with liquidity? How have the government’s recent economic reforms impacted the banking sector? What are the real-world implications for businesses and consumers? And what steps are being taken to address the crisis? These are the pressing questions that need answers.
This in-depth analysis by EBR’s Munir Shemsu explores these questions, examining the root causes of the liquidity crisis, the challenges banks face, and the potential consequences for the broader economy. The liquidity crisis in the banking sector is not just a problem for individual banks or their customers. It has the potential to significantly disrupt the entire economy, affecting businesses, consumers, and investors alike. #EBR
@PatternFin
Ethiopia’s Banking Sector Navigates Uncharted Waters
Ethiopia’s banking sector is currently grappling with a severe liquidity crunch, causing significant distress to individuals and businesses. The effects are palpable, with delayed transfers, restricted cash withdrawals, and challenges in securing loans becoming the norm.
Why are banks struggling with liquidity? How have the government’s recent economic reforms impacted the banking sector? What are the real-world implications for businesses and consumers? And what steps are being taken to address the crisis? These are the pressing questions that need answers.
This in-depth analysis by EBR’s Munir Shemsu explores these questions, examining the root causes of the liquidity crisis, the challenges banks face, and the potential consequences for the broader economy. The liquidity crisis in the banking sector is not just a problem for individual banks or their customers. It has the potential to significantly disrupt the entire economy, affecting businesses, consumers, and investors alike. #EBR
@PatternFin
Ethiopia’s forex parallel market continues to experience significant volatility, with the rate soaring to 150 ETB per USD, a sharp increase from the 130 ETB per USD recorded just two weeks ago. This fluctuation underscores the challenges of aligning the official and parallel exchange rates, despite ongoing efforts by the government and commercial banks to stabilize the market.
@PatternFin
@PatternFin
ወጋገን ባንክ ወጋገን ኢ-ብር የተሰኘ የሞባይል ዋሌት አገልግሎት በይፋ አስጀመረ
ወጋገን ባንክ ደንበኞች ወደ ባንክ ቅርንጫፎች መሄድ ሳይጠበቅባቸው በሞባይል ስልካቸው ከፕሌይስቶር ወይም አፕ ስቶር ኢ-ብር የተሰኘ መተግበሪያ በማውረድ እንዲሁም በአጭር የጽሑፍ መልዕክት በመጠቀም የዋሌት ሂሳብ መክፈት፣ ገንዘብ ማንቀሳቀስ፣ ክፍያ መፈፀም እና ሂሳብ ማስተዳደር የሚያስችል የሞባይል ዋሌት አገልግሎት ከኢ-ብር ሞባይል ፋይናንሻል ሰርቪስስ ጋር በመተባበር መስጠት መጀመሩን አስታወቀ፡፡
#WegagenBank
#E_Birr
@PatternFin
ወጋገን ባንክ ደንበኞች ወደ ባንክ ቅርንጫፎች መሄድ ሳይጠበቅባቸው በሞባይል ስልካቸው ከፕሌይስቶር ወይም አፕ ስቶር ኢ-ብር የተሰኘ መተግበሪያ በማውረድ እንዲሁም በአጭር የጽሑፍ መልዕክት በመጠቀም የዋሌት ሂሳብ መክፈት፣ ገንዘብ ማንቀሳቀስ፣ ክፍያ መፈፀም እና ሂሳብ ማስተዳደር የሚያስችል የሞባይል ዋሌት አገልግሎት ከኢ-ብር ሞባይል ፋይናንሻል ሰርቪስስ ጋር በመተባበር መስጠት መጀመሩን አስታወቀ፡፡
#WegagenBank
#E_Birr
@PatternFin
Alleged Shareholder Sues Sunpay, Demands Dissolution
#Sunpay Solutions’ alleged shareholder, Bruck Fikre, has filed a lawsuit seeking the company's dissolution and compensation for his shares, citing a lack of transparency and financial mismanagement.
The fintech company recently had its license revoked by the National Bank of Ethiopia due to numerous operational failures and regulatory violations, including failure to commence operations and hold mandatory shareholder meetings.
The legal proceedings are ongoing, with a court date set for January 2025.
#Fortune
@PatternFin
#Sunpay Solutions’ alleged shareholder, Bruck Fikre, has filed a lawsuit seeking the company's dissolution and compensation for his shares, citing a lack of transparency and financial mismanagement.
The fintech company recently had its license revoked by the National Bank of Ethiopia due to numerous operational failures and regulatory violations, including failure to commence operations and hold mandatory shareholder meetings.
The legal proceedings are ongoing, with a court date set for January 2025.
#Fortune
@PatternFin
👍2
Federal Judge Suspends Addis Chamber's Assembly as Leadership Dispute Intensifies
A legal dispute has stalled the Addis Abeba Chamber of Commerce & Sectoral Associations (AACCSA) general assembly.
Board member Abera A. Eshete sued Chamber President Mesenbet Shenkute, alleging illegal dismissal for opposing a proposed constitutional overhaul that would make membership mandatory. Mesenbet argued the change is necessary to strengthen the Chamber financially, while Abera claims it is a power grab.
The lawsuit seeks Abera's reinstatement and a halt to the restructuring plan, leaving the Chamber's future and its 17,000 members in uncertainty. A court injunction currently prevents the Chamber from operating. #Fortune
@PatternFin
A legal dispute has stalled the Addis Abeba Chamber of Commerce & Sectoral Associations (AACCSA) general assembly.
Board member Abera A. Eshete sued Chamber President Mesenbet Shenkute, alleging illegal dismissal for opposing a proposed constitutional overhaul that would make membership mandatory. Mesenbet argued the change is necessary to strengthen the Chamber financially, while Abera claims it is a power grab.
The lawsuit seeks Abera's reinstatement and a halt to the restructuring plan, leaving the Chamber's future and its 17,000 members in uncertainty. A court injunction currently prevents the Chamber from operating. #Fortune
@PatternFin
ዳሸን ባንክ በኢትዮጵያ የባንክ ኢንዱስትሪ የመጀመሪያውን ሱፐር አፕ ለአገልግሎት አቀረበ
@PatternFin
@PatternFin
ዳሸን ባንክ በኢትዮጵያ የባንክ ኢንዱስትሪ የመጀመሪያውን ሱፐር አፕ ለአገልግሎት አቀረበ
ዳሸን ባንክ በኢትዮጵያ የባንክ ኢንዱስትሪ ዘርፍ የመጀመሪያ የሆነውንና በርካታ አገልግሎቶችን በአንድ ማዕቀፍ ያካተተ ዘመናዊ፣ ፈጣንና አስተማማኝ አገልግሎት ማቅረብ የሚያስችል ሱፐር አፕ (መተግበሪያ) በሸራተን አዲስ ሆቴል አስመርቋል፡፡
ይህ ሱፐር አፕ;
አካውንቶችን መክፈት፣ ገንዘብ ማስተላለፍ፣ እንዲሁም በገንዘብ ልውውጥ ላይ የተመሰረተ የብድር አገልግሎት መስጠትና ሌሎች አገልግሎቶችን በአንድ የያዘ መተግበሪያ ነው፡፡
የደንበኞችን ማንነትና በህይወት መኖራቸውን ለማረጋገጥ የሚያስችል ነው፡፡
በሸሪዓህ ህግ መሰረት የቀረቡ ከወለድ ነፃ የባንክ አገልግሎቶችን ማግኘት ይችላሉ፡፡
ደንበኞች የግል ወጪያቸውን መምራት የሚችሉበት “በጀት” የተሰኘ አገልግሎት
ደንበኞች በሶስት ንክኪ ብቻ (Three Click Shopping) የተለያዩ ምርቶችና
አገልግሎቶችን በፍጥነትና አመቺ በሆነ መልኩ መገብየት የሚያስችለው ነው፡፡
የዲጂታል ካርድ ወይም ቨርቹዋል ካርድ አገልግሎት እንዲያገኙ አማራጭ አቅርቧል፡፡
ደንበኞች ሌላ የአገልግሎት አማራጮችን መክፈት ሳያስፈልጋቸው የአየር ትኬት ለመቁረጥና ተያያዥ አገልግሎቶችን ለማግኘት፣ በቴሌቲቪ አማካኝነት የአገር ውስጥ ፊልሞች ለመመልከት፣ የዲሴስቲቪ አገልግሎቶችን ለማግኘትና ሌሎች በርካታ አገልግሎቶችን ማግኘት የሚያስችሉ መተግበሪያዎችን ያካተተ ነው፡፡
እስካሁን ያልነበረና ለአገራችን የባንክ አገልግሎት ዘርፍ የመጀመሪያ የሆነውና በዚህ ሱፐር አፕ የተካተተው አገልግሎት “ቻት ባንኪንግ” ይሰኛል፡፡
በዳሸን ሱፐር አፕ የተካተቱ በርካታ አገልግሎቶች በቅደም ተከተል የሚቀርቡ ሲሆን በሁለተኛው ምዕራፍ ደንበኞች በሱፐር አፑ በሚያደርጉት አጠቃላይ የገንዘብ ልውውጥ ላይ የተመሰረት አነስተኛ የብድር አገልግሎት በቀጥታ ማግኘት ያስችላቸዋል፡፡
#DashenBank
#DashenSuperApp
#ChatBanking
#ዳሸንባንክ
@PatternFin
ዳሸን ባንክ በኢትዮጵያ የባንክ ኢንዱስትሪ ዘርፍ የመጀመሪያ የሆነውንና በርካታ አገልግሎቶችን በአንድ ማዕቀፍ ያካተተ ዘመናዊ፣ ፈጣንና አስተማማኝ አገልግሎት ማቅረብ የሚያስችል ሱፐር አፕ (መተግበሪያ) በሸራተን አዲስ ሆቴል አስመርቋል፡፡
ይህ ሱፐር አፕ;
አካውንቶችን መክፈት፣ ገንዘብ ማስተላለፍ፣ እንዲሁም በገንዘብ ልውውጥ ላይ የተመሰረተ የብድር አገልግሎት መስጠትና ሌሎች አገልግሎቶችን በአንድ የያዘ መተግበሪያ ነው፡፡
የደንበኞችን ማንነትና በህይወት መኖራቸውን ለማረጋገጥ የሚያስችል ነው፡፡
በሸሪዓህ ህግ መሰረት የቀረቡ ከወለድ ነፃ የባንክ አገልግሎቶችን ማግኘት ይችላሉ፡፡
ደንበኞች የግል ወጪያቸውን መምራት የሚችሉበት “በጀት” የተሰኘ አገልግሎት
ደንበኞች በሶስት ንክኪ ብቻ (Three Click Shopping) የተለያዩ ምርቶችና
አገልግሎቶችን በፍጥነትና አመቺ በሆነ መልኩ መገብየት የሚያስችለው ነው፡፡
የዲጂታል ካርድ ወይም ቨርቹዋል ካርድ አገልግሎት እንዲያገኙ አማራጭ አቅርቧል፡፡
ደንበኞች ሌላ የአገልግሎት አማራጮችን መክፈት ሳያስፈልጋቸው የአየር ትኬት ለመቁረጥና ተያያዥ አገልግሎቶችን ለማግኘት፣ በቴሌቲቪ አማካኝነት የአገር ውስጥ ፊልሞች ለመመልከት፣ የዲሴስቲቪ አገልግሎቶችን ለማግኘትና ሌሎች በርካታ አገልግሎቶችን ማግኘት የሚያስችሉ መተግበሪያዎችን ያካተተ ነው፡፡
እስካሁን ያልነበረና ለአገራችን የባንክ አገልግሎት ዘርፍ የመጀመሪያ የሆነውና በዚህ ሱፐር አፕ የተካተተው አገልግሎት “ቻት ባንኪንግ” ይሰኛል፡፡
በዳሸን ሱፐር አፕ የተካተቱ በርካታ አገልግሎቶች በቅደም ተከተል የሚቀርቡ ሲሆን በሁለተኛው ምዕራፍ ደንበኞች በሱፐር አፑ በሚያደርጉት አጠቃላይ የገንዘብ ልውውጥ ላይ የተመሰረት አነስተኛ የብድር አገልግሎት በቀጥታ ማግኘት ያስችላቸዋል፡፡
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@PatternFin
Africa is the only inhabited continent without any Fortune Global 500 companies.
That's a problem because large firms are productivity powerhouses that create quality jobs, drive innovation, and generate the economic value needed to lift millions out of poverty.
To improve livelihoods, the continent needs:
• More scaled enterprises that can compete globally
• Higher-productivity SMEs that can grow sustainably
• Quality salaried jobs, not just subsistence micro-entrepreneurship
That's the case The Economist makes in their latest analysis of African business dynamics. And it rings true.
But what's blocking business growth in Africa?
Two fundamental constraints:
1) Access to finance: Average bank lending rates of 25% (compared to 9% in India and Vietnam).
2) Access to reliable electricity: Power cuts cost African firms 25 days of economic activity annually.
Productivity is perhaps the biggest issue the continent faces, and increasing it requires tackling these fundamental barriers to growth, along with investing heavily in human infrastructure.
#afrigigest
@PatternFin
That's a problem because large firms are productivity powerhouses that create quality jobs, drive innovation, and generate the economic value needed to lift millions out of poverty.
To improve livelihoods, the continent needs:
• More scaled enterprises that can compete globally
• Higher-productivity SMEs that can grow sustainably
• Quality salaried jobs, not just subsistence micro-entrepreneurship
That's the case The Economist makes in their latest analysis of African business dynamics. And it rings true.
But what's blocking business growth in Africa?
Two fundamental constraints:
1) Access to finance: Average bank lending rates of 25% (compared to 9% in India and Vietnam).
2) Access to reliable electricity: Power cuts cost African firms 25 days of economic activity annually.
Productivity is perhaps the biggest issue the continent faces, and increasing it requires tackling these fundamental barriers to growth, along with investing heavily in human infrastructure.
#afrigigest
@PatternFin
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