Ethiopian Business News

The Ministry of Water and Energy has signed a contract worth more than Birr 933.6 million with Bigeta Business PLC for the drilling and construction of water wells in Angacha Woreda, Kembata Zone, Central Ethiopia Regional State.

Ethiopia has set a target of generating USD 13.4 billion in export revenue during the 2026/27 fiscal year, as the government seeks to increase foreign exchange earnings and expand the country’s presence in international markets.

Siinqee Bank reported a pre-provision profit of Birr 10.7 billion for the 2025/26 fiscal year, according to figures presented during the bank’s annual operational review held at the Ethiopian Skylight Hotel.

Ethio telecom and Chinese telecommunications technology company ZTE have expanded 4G population coverage to 92 percent within ZTE’s service circle as the two companies advance a major network modernization and expansion program across Ethiopia.

EthSwitch S.C., operator of Ethiopia’s national payment infrastructure, has opened an international settlement account with Bank of Abyssinia as part of efforts to connect the country’s payment system with global card networks.