Safaricom CEO Peter Ndegwa took home KES 294.2 million ($2.2 million) in total pay for the year ending March 2025 — a record-breaking figure that underscores the telco's return to growth.

His earnings rose 17% from the previous year, thanks to a mix of salary, bonus, performance shares, and perks like housing or school fees. (#ቅምሻ)

@PatternFin

Awash Bank has announced the establishment of an investment banking subsidiary with an initial capital of 200 million Br, marking it as the third player in the budding capital markets sector.

Following record-breaking profits of 22 billion Br before tax in the 2024/25 fiscal year, the Bank wants to diversify income streams beyond the conventional interest-focused model.
#Fortune

@PatternFin

𝗘𝘁𝗵𝗶𝗼𝗽𝗶𝗮 𝗗𝗼𝘂𝗯𝗹𝗲𝘀 𝗗𝗼𝘄𝗻 𝗼𝗻 𝗔𝗜 𝗪𝗶𝘁𝗵 𝟰𝟮% 𝗕𝘂𝗱𝗴𝗲𝘁 𝗕𝗼𝗼𝘀𝘁 𝘁𝗼 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗲

Ethiopia’s latest federal budget allocates 1.13 billion Birr to the Ethiopian Artificial Intelligence Institute, a 42% increase from last year. The rise signals the state’s growing stake in a technology reshaping industry globally.

Founded during the pandemic, the Institute (EAII) now sits at the intersection of tech innovation, policy advising, and national security.

Despite a notable budget expansion and pilot success in health tech, the lack of open policy documents and an underdeveloped infrastructure may undermine momentum. Over-reliance on state institutions could also limit innovation and long-term scalability.
Via #Shega

@PatternFin

Aliko Dangote announced a $3 billion strategic agreement with the Ethiopian government to build a world-class fertilizer plant in Gode, Somalia.

Mr. Dangote emphasized that the project represents more than just an investment; it's a firm commitment to Ethiopia's agricultural self-sufficiency and regional economic integration. He highlighted the urgent need for action, citing the country's supply challenges, particularly its heavy reliance on imports from Morocco and Russia.

@PatternFin

#Breaking

Ethiopia officially launched its first securities trading platform today, marking a moment in the country’s financial history.

The Ethiopian Securities Exchange (ESX) began operations with the public registration and trading of government treasury bills (T-bills) on its secondary market. #Fortune

@PatternFin

በኢትዮጵያ ፈር ቀዳጅ በመሆን ከ11 ዓመታት በፊት የተሟላ ከወለድ ነፃ የባንክ አገልግሎት መስጠት የጀመረው የኢትዮጵያ ንግድ ባንክ፣ በአሁኑ ጊዜ ከ7.3 ሚሊዮን በላይ አስቀማጭ ደንበኞችን በማፍራት የተቀማጭ ገንዘቡን ከ200 ቢሊዮን ብር በላይ ማድረስ ችሏል። 

የኢትዮጵያ ንግድ ባንክ በወለድ ነፃ የባንክ አገልግሎት ተቀማጭ ገንዘብ ከኢንዱስትሪው የ51.3 በመቶ ድርሻ መያዝ ችሏል።

ባንኩ በሲቢሲ ኑር ከወለደ ነፃ የባንክ አገልግሎት ባለፉት 11 ዓመታት ከ150 ቢሊዮን ብር በላይ በተለያዩ የሥራ ዘርፎች ለተሠማሩ ደንበኞች የፋይናስ አቅርቦት ያደረገ ሲሆን፣ በአሁኑ ጊዜ በዚሁ ዘርፍ ተሰጥቶ የሚገኘው ጠቅላላ የብድር መጠን ከ79.2 ቢሊዮን ብር በላይ ነው።

ባንኩ ከወለድ ነፃ ፋይናንሲንግ ዘርፉም የኢንዱስትሪውን 48 በመቶ ድርሻ በመያዝ በመምራት ላይ ይገኛል።

(ከኢ.ን.ባ ገፅ የተወሰደ)

𝐃𝐢𝐯𝐢𝐝𝐞𝐧𝐝 𝐓𝐚𝐱 𝐨𝐧 𝐑𝐞𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐭𝐨 𝐁𝐞 𝐑𝐞𝐦𝐨𝐯𝐞𝐝 𝐮𝐧𝐝𝐞𝐫 𝐏𝐫𝐨𝐩𝐨𝐬𝐞𝐝 𝐀𝐦𝐞𝐧𝐝𝐦𝐞𝐧𝐭

The Ministry of Finance has introduced a draft amendment to the Income Tax Proclamation that would treat reinvested dividends including those used to settle unpaid subscribed shares as tax-exempt.

This proposal directly contradicts the Supreme Court’s prior interpretation, which led to billions in retroactive tax claims across the financial sector. If passed, the amendment will offer legal clarity and resolve ongoing disputes involving banks, insurers, and other share companies.

𝐓𝐡𝐞 𝐝𝐫𝐚𝐟𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐲𝐞𝐭 𝐥𝐚𝐰 𝐚𝐧𝐝 𝐢𝐬 𝐬𝐭𝐢𝐥𝐥 𝐮𝐧𝐝𝐞𝐫 𝐩𝐚𝐫𝐥𝐢𝐚𝐦𝐞𝐧𝐭𝐚𝐫𝐲 𝐫𝐞𝐯𝐢𝐞𝐰.
#Aksion.et

@PatternFin

𝗡𝗶𝗯 𝗕𝗮𝗻𝗸 𝗕𝗲𝘁𝘀 𝗼𝗻 𝗜𝗻-𝗛𝗼𝘂𝘀𝗲 𝗦𝘂𝗽𝗲𝗿 𝗔𝗽𝗽 𝘁𝗼 𝗟𝗲𝗮𝗱 𝗙𝗶𝘃𝗲-𝗬𝗲𝗮𝗿 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗥𝗲𝗯𝗼𝘂𝗻𝗱

Nib Bank has launched its in-house developed super app, Nibtera, consolidating mobile banking, internet banking, and merchant services.

The bank’s new super app aims to attract and retain users with multi-channel payments, budget tools, and full-service banking, from a single platform.

The launch aligns with a broader roadmap to reposition Nib as a fintech-forward institution amid growing competition in Ethiopia’s digital finance space.
Via #Shega

@PatternFin

Africa’s Billionaires 2025 – Forbes Ranking
A Continent of Opportunity and Growth
From energy magnates to telecom tycoons, Africa continues to shape global wealth dynamics.
Top 5 Billionaires in 2025:
1️⃣ Aliko Dangote – $23.9B (🇳🇬 Nigeria)
2️⃣ Johann Rupert – $14B (🇿🇦 South Africa)
3️⃣ Nicky Oppenheimer – $10.4B (🇿🇦 South Africa)
4️⃣ Nassef Sawiris – $9.6B (🇪🇬 Egypt)
5️⃣ Mike Adenuga – $6.8B (🇳🇬 Nigeria)
Key Insights:
🇳🇬 Nigeria dominates with 4 billionaires in the top 10.
🇪🇬 Egypt is home to three members of the billionaire Mansour and Sawiris families.
🇿🇦 South Africa showcases strong wealth across retail, media, and luxury sectors.
🇲🇦 Morocco and 🇹🇿 Tanzania maintain influential representation.
📈 This billionaire landscape reflects robust growth in energy, telecom, construction, and finance—sectors ripe with investment potential.

#Invest

@PatternFin

AfDB Exposes Scale of Illicit Financial Flows in Ethiopia

Ethiopia is losing up to 2.2% of its GDP and 10–30% of government revenue annually due to illicit financial flows (IFF), according to the African Development Bank's 2025 Country Focus Report.

The report identifies trade mis-invoicing—particularly import over-invoicing and export under-invoicing—as the main source of these losses, accounting for up to 80% of IFF. These practices, often tied to cross-border crimes, severely undermine tax revenue, public investment, and economic stability.

Despite reforms, Ethiopia continues to struggle with weak enforcement, limited inter-agency coordination, and poor financial intelligence. Key sectors like mining remain vulnerable to unregulated exports and illegal transactions.

Business activity is also suffering: between 2021 and 2023, business registrations fell nearly 20%, with Addis Ababa alone seeing a 39% drop in new licenses.

While efforts like tax digitization and the upcoming Ethiopian Securities Exchange offer hope, experts warn that without stronger oversight and systemic reforms, the country’s economy remains at risk.

“Illicit finance is no longer a shadow issue—it’s a structural one,” the report concludes.
#Reporter

@PatternFin