Norway is set to become the first country to fully transition to electric vehicles
Norway, which boasts vast oil and gas reserves, has long been recognized as a global leader in sustainable transportation.
The country’s electric vehicle sales have increased from less than 1% of total auto sales in 2010 to a whopping 88.9% last year.
“This is the new normal,” Norway’s Deputy Transport Minister Cecilie Knibe Kroglund told CNBC.
#CNBC
@PatternFin
Norway, which boasts vast oil and gas reserves, has long been recognized as a global leader in sustainable transportation.
The country’s electric vehicle sales have increased from less than 1% of total auto sales in 2010 to a whopping 88.9% last year.
“This is the new normal,” Norway’s Deputy Transport Minister Cecilie Knibe Kroglund told CNBC.
#CNBC
@PatternFin
👍1
Foreign Banks Entry.pdf
347.2 KB
How will the entry of foreign banks benefit consumers?
The entry of foreign banks promises increased competition, greater credit access, and improved services. However, risks like high fees, limited access, and complex products may require careful consideration.
Consumers must be informed, compare options, and understand product terms.
Financial planners and consumer protection bodies can offer valuable guidance. Ultimately, these changes can pave the way for a more secure and inclusive financial system.
©️Haimanot & Advocates
@PatternFin
The entry of foreign banks promises increased competition, greater credit access, and improved services. However, risks like high fees, limited access, and complex products may require careful consideration.
Consumers must be informed, compare options, and understand product terms.
Financial planners and consumer protection bodies can offer valuable guidance. Ultimately, these changes can pave the way for a more secure and inclusive financial system.
©️Haimanot & Advocates
@PatternFin
AFRICA will no longer accept to be misjudged by the scales of global credit rating agencies that overlook our reality - says Kenya’s in Ethiopia 🇪🇹.
“By relying on flawed models, outdated assumptions, and systemic bias, these agencies have painted an unfair picture of our economies, leading to distorted ratings, exaggerated risks, and unjustifiably high borrowing costs.”
“The establishment of an Africa Credit Rating Agency, backed by credible data that accurately reflects Africa’s reality, will unlock the much-needed finance to fund the continent’s development programmes and bring meaningful change to the people.”
@PatternFin
“By relying on flawed models, outdated assumptions, and systemic bias, these agencies have painted an unfair picture of our economies, leading to distorted ratings, exaggerated risks, and unjustifiably high borrowing costs.”
“The establishment of an Africa Credit Rating Agency, backed by credible data that accurately reflects Africa’s reality, will unlock the much-needed finance to fund the continent’s development programmes and bring meaningful change to the people.”
@PatternFin
Pattern Finance and Investment - ፋይናንስ
African Union launches rating agency to tackle bias by global firms
African Union launches rating agency to tackle bias by global firms
The African Union has announced the launch of its own rating agency, the African Credit Rating Agency (AfCRA), to address biases by global rating firms.
A study by the Africa Peer Review Mechanism and the United Nations Development Programme highlights that biased grading has cost Africa a staggering USD75 billion in lost opportunities.
According to Ruto, improving Africa’s rating by one notch could unlock $15.5 billion in additional funding for the continent, which could help replace a significant portion of official development assistance or be invested in Africa’s infrastructure needs.
Despite Africa’s abundant natural wealth, only two African nations are currently ranked as investment grade. “It is time for Africa to use the right scale, one that reflects its true weight,” Ruto added.
The African Union has previously criticized global rating agencies’ characterization of African economies. In January, the AU pointed out that Moody’s Ratings’ fluctuating assessment of Kenya’s outlook was flawed.
“As the continent continues its march towards economic integration and resilience, the establishment of the African Credit Rating Agency (AfCRA) represents a pivotal step in asserting Africa’s position on global financial governance.”
The agency aims to provide fair, transparent, and development-focused credit ratings that reflect the realities and potential of African economies.
The idea of creating an African credit rating agency has been in the pipeline for years. In September 2023, the AU officially announced its plans to move forward with the project.
This decision comes after repeated criticism of the “Big Three” rating agencies—Moody’s, Fitch, and S&P—accused of applying a “negative bias” when assessing African economies.
Critics argue that these ratings often lead to higher borrowing costs for African countries and, in some cases, make it harder for them to access international financial markets.
The push for an African credit rating agency indeed gained momentum in 2022 when Senegal’s former president Macky Sall, who was then chair of the AU, called for a new system to “end the injustices” faced by African countries.
@PatternFin
The African Union has announced the launch of its own rating agency, the African Credit Rating Agency (AfCRA), to address biases by global rating firms.
A study by the Africa Peer Review Mechanism and the United Nations Development Programme highlights that biased grading has cost Africa a staggering USD75 billion in lost opportunities.
According to Ruto, improving Africa’s rating by one notch could unlock $15.5 billion in additional funding for the continent, which could help replace a significant portion of official development assistance or be invested in Africa’s infrastructure needs.
Despite Africa’s abundant natural wealth, only two African nations are currently ranked as investment grade. “It is time for Africa to use the right scale, one that reflects its true weight,” Ruto added.
The African Union has previously criticized global rating agencies’ characterization of African economies. In January, the AU pointed out that Moody’s Ratings’ fluctuating assessment of Kenya’s outlook was flawed.
“As the continent continues its march towards economic integration and resilience, the establishment of the African Credit Rating Agency (AfCRA) represents a pivotal step in asserting Africa’s position on global financial governance.”
The agency aims to provide fair, transparent, and development-focused credit ratings that reflect the realities and potential of African economies.
The idea of creating an African credit rating agency has been in the pipeline for years. In September 2023, the AU officially announced its plans to move forward with the project.
This decision comes after repeated criticism of the “Big Three” rating agencies—Moody’s, Fitch, and S&P—accused of applying a “negative bias” when assessing African economies.
Critics argue that these ratings often lead to higher borrowing costs for African countries and, in some cases, make it harder for them to access international financial markets.
The push for an African credit rating agency indeed gained momentum in 2022 when Senegal’s former president Macky Sall, who was then chair of the AU, called for a new system to “end the injustices” faced by African countries.
@PatternFin
የብሔራዊ ባንክ የግምጃ ቤት ሰነድ ወለድ ከግሽበት እና ፖሊሲ ምጣኔ በላይ መሆኑን አስታወቀ
የኢትዮጵያ ብሔራዊ ባንክ የግምጃ ቤት ሰነዶች (Tbills) የወለድ ምጣኔ ላይ ከፍተኛ ጭማሪ ማሳየቱንና ለመጀመሪያ ጊዜ ከፖሊሲ ምጣኔ በላይ መሆኑን አስታውቋል፣ ይህም አዎንታዊ ምጣኔን ያመለክታል ነው የተባለው።
የኢትዮጵያ ብሔራዊ ባንክ የካቲት 6፤2017 ዓ.ም. ባሳተመው አጭር ሪፖርት መሠረት የአንድ ዓመት የግምጃ ቤት ሰነዶች የወለድ ምጣኔ በበጀት ዓመቱ መጀመሪያ ላይ ከነበረው ጋር ሲነጻጸር በ57 በመቶ ጨምሯል።
በሐምሌ ወር 10 በመቶ የነበረው ምጣኔ በስድስት ወራት ውስጥ ወደ 15.7 በመቶ ከፍ ብሏል፣ ይህም ጥር ላይ ከተመዘገበው የ15.5 በመቶ የዋጋ ግሽበት እና የ15 በመቶ የፖሊሲ ምጣኔ አንጻር ከፍተኛው መጠን ሆኖ እንዲቀመጥ ያደረገ ነው።
በቲ-ቢል ምጣኔዎች ላይ የቅርብ ጊዜ ጭማሪ የአለም አቀፋዊ የገንዘብ ድርጅት (አይኤምኤፍ ) የሚሰጠውን ምክር ተከትሎ የመጣ ሲሆን፣ ይህም ማዕከላዊ ባንክ ተጨማሪ ተጫራቾችን ለመሳብ እና ሀብት ለማሰባሰብ የሚረዳ መሆኑ ነው አይኤምኤፍ ሲገለጽ የቆየው፡፡
አሁን ላይ የተቀማጭ ወለድ ከግሽበት አንጻር በከፍተኛ መጠን ቅናሽ ያለው መሆኑ ይጠቀሳል፡፡ በተመሳሳይ የመግስት የግምጃ ቤት ሰነድ ጨረታ ላይ ማእከላዊ ባንኩ የሚቀበለው የወለድ ምጣኔ ከ10 በመቶ አይበልጥም ነበር፡፡
በመሆኑም ከፍ ያለ ወለድ የሚጠይቁ ተጫራቾች በጨረታው አያሸንፉም ነበር፡፡ ሆኖም ባለፉት ጥቂት ወራት ባንኩ ከፍ ያሉ የወለድ መጠኖችን እየተቀበለ መምጣቱ ነው የሚነገረው፡፡ #Capital
@PatternFin
የኢትዮጵያ ብሔራዊ ባንክ የግምጃ ቤት ሰነዶች (Tbills) የወለድ ምጣኔ ላይ ከፍተኛ ጭማሪ ማሳየቱንና ለመጀመሪያ ጊዜ ከፖሊሲ ምጣኔ በላይ መሆኑን አስታውቋል፣ ይህም አዎንታዊ ምጣኔን ያመለክታል ነው የተባለው።
የኢትዮጵያ ብሔራዊ ባንክ የካቲት 6፤2017 ዓ.ም. ባሳተመው አጭር ሪፖርት መሠረት የአንድ ዓመት የግምጃ ቤት ሰነዶች የወለድ ምጣኔ በበጀት ዓመቱ መጀመሪያ ላይ ከነበረው ጋር ሲነጻጸር በ57 በመቶ ጨምሯል።
በሐምሌ ወር 10 በመቶ የነበረው ምጣኔ በስድስት ወራት ውስጥ ወደ 15.7 በመቶ ከፍ ብሏል፣ ይህም ጥር ላይ ከተመዘገበው የ15.5 በመቶ የዋጋ ግሽበት እና የ15 በመቶ የፖሊሲ ምጣኔ አንጻር ከፍተኛው መጠን ሆኖ እንዲቀመጥ ያደረገ ነው።
በቲ-ቢል ምጣኔዎች ላይ የቅርብ ጊዜ ጭማሪ የአለም አቀፋዊ የገንዘብ ድርጅት (አይኤምኤፍ ) የሚሰጠውን ምክር ተከትሎ የመጣ ሲሆን፣ ይህም ማዕከላዊ ባንክ ተጨማሪ ተጫራቾችን ለመሳብ እና ሀብት ለማሰባሰብ የሚረዳ መሆኑ ነው አይኤምኤፍ ሲገለጽ የቆየው፡፡
አሁን ላይ የተቀማጭ ወለድ ከግሽበት አንጻር በከፍተኛ መጠን ቅናሽ ያለው መሆኑ ይጠቀሳል፡፡ በተመሳሳይ የመግስት የግምጃ ቤት ሰነድ ጨረታ ላይ ማእከላዊ ባንኩ የሚቀበለው የወለድ ምጣኔ ከ10 በመቶ አይበልጥም ነበር፡፡
በመሆኑም ከፍ ያለ ወለድ የሚጠይቁ ተጫራቾች በጨረታው አያሸንፉም ነበር፡፡ ሆኖም ባለፉት ጥቂት ወራት ባንኩ ከፍ ያሉ የወለድ መጠኖችን እየተቀበለ መምጣቱ ነው የሚነገረው፡፡ #Capital
@PatternFin
👍1
The richest man in Africa, Aliko Dangote, will set up a second production line at his cement factory in Ethiopia – increasing its capacity to 5 million tonnes per annum, up from 2.5 million tonnes currently.
In addition, the Nigerian billionaire’s conglomerate will set up a new grinding unit near the Ethiopian capital, with a capacity of 3 million tonnes per annum and a Urea production plant.
Dangote is also interested in Ethiopia’s sugar industry, including enhancing operations at the Omo Kuraz sugar company.
#TheKenyanWallStreet
@PatternFin
In addition, the Nigerian billionaire’s conglomerate will set up a new grinding unit near the Ethiopian capital, with a capacity of 3 million tonnes per annum and a Urea production plant.
Dangote is also interested in Ethiopia’s sugar industry, including enhancing operations at the Omo Kuraz sugar company.
#TheKenyanWallStreet
@PatternFin
African Stock Market and Export Growth.pdf
19.1 MB
African stock exchanges and Export Growth;
An Analytical Perspective
African stock exchanges play a vital role in financing export-driven industries, driving economic growth and global competitiveness. Understanding this connection is key for investors and policymakers.
Read the attached resourceful document!
Doc prepared by #Bruh_Finance
@PatternFin
An Analytical Perspective
African stock exchanges play a vital role in financing export-driven industries, driving economic growth and global competitiveness. Understanding this connection is key for investors and policymakers.
Read the attached resourceful document!
Doc prepared by #Bruh_Finance
@PatternFin
Ethiopia bond investors accuse IMF over debt relief
Debtholders committee says government finances boosted by jump in coffee and gold exports
#TheFinancialTimes
Link; https://www.ft.com/content/40c35ffd-fa86-445f-9c4c-dc434b61de25
Debtholders committee says government finances boosted by jump in coffee and gold exports
#TheFinancialTimes
Link; https://www.ft.com/content/40c35ffd-fa86-445f-9c4c-dc434b61de25
Pattern Finance and Investment - ፋይናንስ
Photo
Africa's richest man just got a lot richer.
Meet Aliko Dangote.
He's now worth an estimated $23.9 billion.
Almost double the $13.9B Forbes pegged him at last year.
And according to an article published in the magazine just yesterday, he insists he's even richer. 👀
Here's how the GOAT of African industrialization got there.
Born in Kano, Nigeria, in 1958.
To a wealthy trading family.
Started as an 8-year-old trader.
Used his allowance to buy sweets in bulk.
Recruited a team to sell at school.
Collected the profit.
Went on to study business.
In Cairo at Al-Azhar University.
Graduated.
Got a $500k loan from his uncle.
Started an import-export trading firm in Lagos.
But he had bigger dreams.
Nigeria was transitioning from military rule to democracy.
He saw an opportunity to build, not just trade.
Seized it.
Pivoted to manufacturing.
Started with sugar, flour, and cement.
Built Dangote Cement Plc into an empire — generating 60%+ gross margins most years.
Then in 2013, he made his boldest bet (yet).
A $23 billion investment in oil refining.
Africa's largest petroleum refinery.
Everyone said it couldn't be done.
11 years of setbacks and challenges.
65 million cubic meters of sand dredged.
Still ~$3 billion in outstanding debt today.
But he persisted.
Today, that bet has paid off:
• Africa's largest refinery
• Processing 500,000 barrels per day
• 7th largest globally
• Made Nigeria a net exporter of jet fuel, naphtha, and fuel oil
• Doubled his fortune to $23.9B (at minimum)
His mission now?
Provide a blueprint for African industrialization.
"Africa has been a mere dumping ground for finished products. We have to build our own nation by ourselves. We have to build our own continent by ourselves."
Next up?
• Taking the refinery public
• Building a subsea gas pipeline
• Doubling fertilizer production
"I've been fighting battles all my life, and I haven't lost one yet." — Aliko Dangote
@PatternFin
Meet Aliko Dangote.
He's now worth an estimated $23.9 billion.
Almost double the $13.9B Forbes pegged him at last year.
And according to an article published in the magazine just yesterday, he insists he's even richer. 👀
Here's how the GOAT of African industrialization got there.
Born in Kano, Nigeria, in 1958.
To a wealthy trading family.
Started as an 8-year-old trader.
Used his allowance to buy sweets in bulk.
Recruited a team to sell at school.
Collected the profit.
Went on to study business.
In Cairo at Al-Azhar University.
Graduated.
Got a $500k loan from his uncle.
Started an import-export trading firm in Lagos.
But he had bigger dreams.
Nigeria was transitioning from military rule to democracy.
He saw an opportunity to build, not just trade.
Seized it.
Pivoted to manufacturing.
Started with sugar, flour, and cement.
Built Dangote Cement Plc into an empire — generating 60%+ gross margins most years.
Then in 2013, he made his boldest bet (yet).
A $23 billion investment in oil refining.
Africa's largest petroleum refinery.
Everyone said it couldn't be done.
11 years of setbacks and challenges.
65 million cubic meters of sand dredged.
Still ~$3 billion in outstanding debt today.
But he persisted.
Today, that bet has paid off:
• Africa's largest refinery
• Processing 500,000 barrels per day
• 7th largest globally
• Made Nigeria a net exporter of jet fuel, naphtha, and fuel oil
• Doubled his fortune to $23.9B (at minimum)
His mission now?
Provide a blueprint for African industrialization.
"Africa has been a mere dumping ground for finished products. We have to build our own nation by ourselves. We have to build our own continent by ourselves."
Next up?
• Taking the refinery public
• Building a subsea gas pipeline
• Doubling fertilizer production
"I've been fighting battles all my life, and I haven't lost one yet." — Aliko Dangote
@PatternFin
👍1
Exciting Update!
AliExpress is set to start transactions in local currency beginning February 24, 2025! This significant milestone will greatly enhance trade and business operations in Ethiopia and other African countries, making it easier for local entrepreneurs to engage in international commerce.
This move not only simplifies transactions but also fosters a more inclusive trade environment. Let's embrace this new era of smoother trade!
@PatternFin
AliExpress is set to start transactions in local currency beginning February 24, 2025! This significant milestone will greatly enhance trade and business operations in Ethiopia and other African countries, making it easier for local entrepreneurs to engage in international commerce.
This move not only simplifies transactions but also fosters a more inclusive trade environment. Let's embrace this new era of smoother trade!
@PatternFin
UK Deputy PM Secures USD598 Million Investment Deal in Ethiopia Amid Political Criticism
UK Deputy Prime Minister Angela Rayner has concluded a high-profile visit to Ethiopia, securing a USD 598 million investment agreement to bolster trade and economic cooperation between the two nations. The Times reports that the deal, backed by British private equity firms, will inject capital into Ethiopia’s infrastructure, manufacturing, and financial sectors as the country progresses with market liberalisation.
Rayner met with Ethiopian Prime Minister Abiy Ahmed and senior officials to discuss trade expansion, financial market development, and regional cooperation. The visit comes at a pivotal moment for Ethiopia, which launched the Ethiopian Securities Exchange (ESX) on January 10 and is intensifying efforts to integrate into the global economy through its bid to join the World Trade Organization (WTO). British firms are well-positioned to capitalise on these developments, with increasing interest in Ethiopia’s evolving financial landscape.
Beyond investment and trade, discussions also centred on technological collaboration, particularly in artificial intelligence. The UK has been at the forefront of AI development, and Ethiopia’s ambitions in digital transformation offer potential avenues for joint initiatives.
However, Rayner’s diplomatic engagement has not gone without controversy. According to the Times, critics within the Conservative Party have questioned the timing of her visit, arguing that she should prioritise domestic economic challenges, including housing and local governance reforms. No. 10 defended the trip, asserting that strengthening UK-Ethiopia ties is a strategic priority that will benefit British businesses and enhance the UK’s global economic footprint.
#EBR
@PatternFin
UK Deputy Prime Minister Angela Rayner has concluded a high-profile visit to Ethiopia, securing a USD 598 million investment agreement to bolster trade and economic cooperation between the two nations. The Times reports that the deal, backed by British private equity firms, will inject capital into Ethiopia’s infrastructure, manufacturing, and financial sectors as the country progresses with market liberalisation.
Rayner met with Ethiopian Prime Minister Abiy Ahmed and senior officials to discuss trade expansion, financial market development, and regional cooperation. The visit comes at a pivotal moment for Ethiopia, which launched the Ethiopian Securities Exchange (ESX) on January 10 and is intensifying efforts to integrate into the global economy through its bid to join the World Trade Organization (WTO). British firms are well-positioned to capitalise on these developments, with increasing interest in Ethiopia’s evolving financial landscape.
Beyond investment and trade, discussions also centred on technological collaboration, particularly in artificial intelligence. The UK has been at the forefront of AI development, and Ethiopia’s ambitions in digital transformation offer potential avenues for joint initiatives.
However, Rayner’s diplomatic engagement has not gone without controversy. According to the Times, critics within the Conservative Party have questioned the timing of her visit, arguing that she should prioritise domestic economic challenges, including housing and local governance reforms. No. 10 defended the trip, asserting that strengthening UK-Ethiopia ties is a strategic priority that will benefit British businesses and enhance the UK’s global economic footprint.
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Trends and Developments 2025
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Aman & Partners authored the Ethiopia legal section of "Trends and Developments 2025" in the Chambers and Partners publication.
Current legal issues covered include banking sector liberalization, currency floating, capital market, joint venture with EIH, PPP, new VAT legislation, among others.
@PatternFin
Current legal issues covered include banking sector liberalization, currency floating, capital market, joint venture with EIH, PPP, new VAT legislation, among others.
@PatternFin
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Financial inclusion in Africa often turns into financial extraction.
That's according to Dr. Milford Bateman, a development studies and economics professor who researches & teaches internationally about the economics of development.
@PatternFin
That's according to Dr. Milford Bateman, a development studies and economics professor who researches & teaches internationally about the economics of development.
@PatternFin