Coopbank's Michu Digital Lending Reaches 52.6 Billion Birr as FIFA World Cup Winners Announced

#EBR_News Apr 25, 2026

Cooperative Bank of Oromia's Michu digital lending platform has disbursed a cumulative 52.6 billion birr to nearly 2.94 million customers, even as the bank announced the winners of its "Road to FIFA World Cup 2026" promotional campaign at a draw ceremony held today at its headquarters.

The bank confirmed that kumilachew Kassu and Alazar Nigusu have been selected as the two primary winners, each entitled to a full travel package to attend the 2026 FIFA World Cup in North America along with one companion of their choice. Two alternate winners, Temesgen Nemera and Birehanu Dida, have been placed on a waiting list in case the primary winners are unable to travel.

The Michu digital lending platform, which offers uncollateralised loans to customers, has processed a total of 3.44 million loan applications since its inception. Of these, 2.94 million have been disbursed, representing an approval rate of approximately 85 percent.

The total disbursed amount stood at 52.6 billion birr as of today, up from 50 billion birr on April 1, 2026, indicating a 2.6 billion birr increase in less than four weeks. On the day of the draw alone, 1,558 loan applications were submitted, with 1,391 approved and 37.23 million birr disbursed.

The promotional campaign, which ran from March 21 to April 24, aimed to popularise Coopbank's recently launched Visa card services, including the Visa Classic Debit Card for domestic transactions, the Visa Classic Prepaid Card for international travellers, and the Visa Platinum Prepaid Card for premium customers.

To qualify for the draw, customers were required to spend over 200 birr on domestic POS machines, deposit 1,000 birr or more via the bank's ATMs, or make international payments exceeding $20.

Coopbank has stated that efforts to promote its Coop VISA card services will continue through upcoming events and rewards programmes.

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Coopbank Partners with UNDP to Embed Climate Insurance in Agricultural Lending

#EBR_News Apr 25, 2026

The Cooperative Bank of Oromia and the United Nations Development Programme have signed a Memorandum of Understanding to strengthen climate risk management in Ethiopia's agricultural sector by integrating climate insurance directly into the bank's lending operations, according to a joint announcement.

Agriculture contributes approximately 32 percent of Ethiopia's GDP but remains highly vulnerable to climate‑related shocks such as recurrent droughts and floods, which continue to be a primary barrier to agricultural credit for smallholder farmers. The partnership aims to bridge this financing gap by positioning insurance as a de‑risking tool, supporting the National Agricultural Finance Implementation Roadmap (NAFIR) and creating a scalable operational model for the wider financial industry.

Under the agreement, UNDP will provide technical assistance to Coopbank, including the establishment of a dedicated Insurance Desk at the bank to lead the integration of insurance into core lending operations.

UNDP will also apply advanced climate risk analytics to the bank's lending portfolio to assess, quantify, and mitigate concentrated climate‑financial exposure. The two parties will co‑design and pilot credit‑linked insurance products tailored to key agricultural value chains, working with the insurance industry.

Coopbank CEO Deribie Asfaw highlighted the importance of the partnership, emphasising that it leverages UNDP's global expertise to strengthen financial inclusion and expand sustainable support for farmers across Ethiopia.

The initiative will also position insurance as a credit mitigation instrument to strengthen the bank's risk profile and improve access to capital from international financiers and climate funds. Specialised training programmes will be delivered to enhance internal expertise in product design and climate risk management.

The partnership is supported by UNDP's Insurance and Risk Finance Facility (IRFF) under the Financial Resilience in Agriculture (FRA) programme. The MoU was signed on April 17, 2026.

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Ethiopia Included in $11.3 Million AfDB-Backed Green Energy Initiative to Power Fragile States

#EBR_News Apr 26, 2026

Energy Peace Partners (EPP), a US-registered non-profit, has partnered with the African Development Bank (AfDB) and the Nordic Development Fund (NDF) to launch an $11.3 million climate finance facility that will use a pioneering "Peace Renewable Energy Certificate" (P‑REC) model to fund mini‑grids across 14 fragile African countries, including Ethiopia.

According to a March 25 press release from the AfDB, the Board of Directors has approved a $5.65 million reimbursable grant from the Sustainable Energy Fund for Africa (SEFA), matched by an equivalent contribution from NDF, to pilot the Peace Renewable Energy Certificate (P‑REC) Aggregation Facility.

The initiative will be jointly managed by Camco Clean Energy, a climate and impact fund manager, and EPP.

The P‑REC mechanism is a first-of-its-kind climate finance instrument. It will allow developers of small-scale renewable energy mini‑grids in fragile, conflict‑affected and energy‑poor countries to sell certificates for future power generation in advance.

These certificates will be purchased voluntarily by multinational corporations looking to maximise the social and environmental impact of their sustainability spending.

The upfront capital will help developers overcome one of the biggest hurdles in these markets: lack of access to commercial financing.

The facility will sign long‑term purchase agreements with eligible mini‑grid developers across 14 frontier countries: Burundi, Central African Republic, Chad, the Democratic Republic of Congo, Ethiopia, Liberia, Mali, Niger, Nigeria, Sierra Leone, Somalia, South Sudan, Sudan, and Uganda.

According to AfDB estimates, the initiative is expected to provide first‑time reliable electricity access to around 856,000 people, roughly half of them women, through approximately 240,000 new connections and the addition of 71 megawatts of new renewable energy capacity.

The project is fully aligned with Mission 300, the joint AfDB and World Bank initiative to connect 300 million Africans to electricity by 2030.

The Nordic Development Fund is contributing to the ambitious energy access targets of Mission 300 through its renewable energy portfolio and as a member of the Development Partner Coordination Group.

Energy Peace Partners is also the accredited I‑REC(E) Issuer in Ethiopia, and it proposes issuing P‑RECs to monetise renewable energy generated in the country.

This would stimulate the renewable energy market and extend the benefits of clean power to vulnerable communities, particularly in regions with limited infrastructure.

The P‑REC Aggregation Facility can accelerate that transition by converting corporate climate ambition into upfront capital for renewable energy developers who would otherwise struggle to close their projects.

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Ethiopian Airlines Wins Three PAX Readership Awards for Food Service, Passenger Experience and Children's Amenity Kit

#EBR_News Apr 24, 2026

Ethiopian Airlines has been recognised with three accolades at the PAX Readership Awards 2026 held in Hamburg, Germany, winning in the categories of Outstanding Food Service by a Carrier Africa, Best Overall Passenger Experience Africa, and Best Children's Amenity Kit Africa, according to a statement from the airline.

The awards, determined by passenger votes, highlight Ethiopian Airlines' continued commitment to delivering a superior and holistic passenger experience, combining world-class onboard catering, innovative service design, and thoughtful product offerings tailored to all customers, including families travelling with children.

Group CEO Mesfin Tasew stated that the airline is honoured to once again be recognised by passengers and industry partners. "Winning in three categories reflects our unwavering focus on enhancing every aspect of the customer journey, from inflight dining to overall experience and family-friendly services.

These awards are a testament to the dedication of our team and our commitment to delivering service excellence inspired by Ethiopian hospitality and global best practices," he said.

The recognition adds to Ethiopian Airlines' growing list of industry honours, including the Skytrax 'Best Airline in Africa' award for eight consecutive years and the APEX 'Best Overall in Africa' award.

The airline continues to invest in its modern fleet, innovative cabin products, and advanced inflight entertainment and connectivity solutions as part of its Vision 2035 strategy to become one of the world's top 20 aviation groups.

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Ethiopian Deposit Insurance Fund Collects 6.76 Billion Birr in Premiums, Assets Surge to 22.98 Billion Birr

#EBR_News Apr 24, 2026

The Ethiopian Deposit Insurance Fund has collected 6.76 billion birr in premiums during the first nine months of the 2025/26 fiscal year, achieving 100 percent of its target and marking a 31.26 percent increase compared to the same period last year, according to a press release from the Fund.

The Fund, established under Council of Ministers Regulation No. 482/2021 and accountable to the National Bank of Ethiopia, now has 95 member financial institutions, including 31 commercial banks and 64 microfinance institutions. To date, total premiums collected from member institutions have reached 20.61 billion birr.

The Fund's total investment has reached 22.98 billion birr, showing an 89.76 percent increase compared to the same period last year. Of this, 20.97 billion birr is invested in government Treasury bills, while 2.01 billion birr is held in Mudarabah (interest-free) investment accounts. During the nine-month period, the Fund generated 1.74 billion birr in investment income.

Premium collections by institution category show that private banks contributed 10.41 billion birr, the Commercial Bank of Ethiopia contributed 9.96 billion birr, and microfinance institutions contributed 240 million birr. By deposit type, 18.72 billion birr came from conventional deposits and 1.89 billion birr from interest-free deposits.

The primary objective of the Fund is to protect individual and institutional depositors by providing insurance coverage of up to 100,000 birr per depositor in the event of a member financial institution's failure, thereby contributing to the stability of the financial system.

The Fund collects premiums from member institutions and reinvests these funds to enhance its financial capacity.

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EU and Germany Launch Tax and Customs Reform Project to Support Private Sector Growth in Ethiopia

#EBR_News Apr 24, 2026

The European Union and Germany have officially launched a new initiative to modernise tax administration and customs management in Ethiopia, aiming to create a more transparent and predictable business environment for domestic and international investors, according to a press release issued during the EU–Ethiopia Business Forum on April 21.

The project, titled "Modernise and Harmonise Tax Administration and Customs Management for Private Sector Growth in Ethiopia," is implemented by GIZ and forms part of the second phase of German Development Cooperation's Private Sector Development Project in Ethiopia. It will run until the end of 2029.

The initiative is designed to strengthen tax and customs systems, making them more efficient and aligned with international standards, thereby contributing to Ethiopia's goal of joining the World Trade Organization in due course. By supporting public institutions, the project aims to improve the overall business environment, enabling Ethiopian and international firms to invest, grow, and integrate into regional and global value chains.

Ferdinand von Weyhe, Deputy Ambassador of Germany to Ethiopia, stated that Ethiopia's reform agenda offers significant opportunities for private sector-led growth. "By improving the transparency and efficiency of tax and customs systems, this initiative will help create the conditions for domestic and foreign investment and job creation," he said.

Sofie From-Emmesberger, EU Ambassador to Ethiopia, described the project as an important step in supporting Ethiopia's efforts to modernise its tax and customs systems. "By improving efficiency and addressing key bottlenecks, it will help create a more predictable and business-friendly environment for private sector growth," she said.

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Global Coffee Industry Launches Ethiopia-Focused Mapping Initiative to Tackle Deforestation and Protect EU Market Access

#EBR_News Apr 24, 2026

A coalition of the world's largest coffee companies has launched an industry‑first global mapping initiative that will begin with a pilot across six East African nations, including Ethiopia, to identify deforestation risks and help millions of smallholder farmers comply with new European Union regulations, according to a press release issued by JDE Peet's on April 22.

The Coffee Canopy Partnership, initiated by JDE Peet's, now part of Keurig Dr Pepper brings together leading coffee traders including Louis Dreyfus Company, Sucden, Neumann Kaffee Gruppe, Touton, Sucafina, and Tchibo. Using advanced satellite technology from Airbus, the partnership will create the world's first comprehensive, openly‑accessible map of global coffee production.

The pilot phase covers 1.2 million square kilometers of coffee landscapes across Ethiopia, Tanzania, Kenya, Uganda, Burundi and Rwanda. Ethiopia's inclusion is critical: the country is the birthplace of Arabica coffee and Africa's largest producer, with coffee accounting for approximately 30‑35 percent of its foreign income and supporting around 15 million people along the value chain.

Under the EU Deforestation Regulation (EUDR), coffee grown on land classified as forest after December 2020 may not enter EU markets. The regulation threatens to exclude millions of smallholder farmers, including many in Ethiopia ,simply because existing maps incorrectly classify their agroforestry or shade‑grown coffee production land as forest.

By leveraging Airbus's very high‑resolution satellite imagery (up to 30cm resolution), combined with artificial intelligence and on‑the‑ground verification, the partnership will establish two definitive datasets:

A 2020‑2021 baseline map showing the true extent of coffee cultivation, correcting widespread misclassifications of coffee agroforestry systems as forest; and a 2024‑2025 updated map to support the identification of potential new coffee production land and areas where forest change has occurred since 2020.

These maps are planned to be integrated into a transparent, openly accessible geospatial platform, designed to enable farmers, governments and the coffee industry to access data that can support sustainability planning and forest protection.

The pilot phase of the initiative is supported by the UK Foreign, Commonwealth & Development Office (FCDO) and endorsed by the UN Food and Agriculture Organization (FAO).

Building on the pilot's success, the Coffee Canopy Partnership aims to achieve worldwide coverage of all coffee‑growing regions in 2027 through expanded industry and institutional co‑investment. The Partnership plans to support coffee‑related deforestation remediation efforts over time, in collaboration with governments and local communities, with the objective of contributing to landscape restoration and reducing future forest loss.

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Ethiopian Airlines Launches Three Weekly Freighter Flights from Hong Kong to Glasgow Prestwick

#EBR_News Apr 24, 2026

Ethiopian Airlines has launched a scheduled freighter service connecting Hong Kong International Airport (HKG) with Glasgow Prestwick Airport (PIK) in Scotland, ramping up its e-commerce capacity as global parcel volumes continue to surge. The thrice-weekly flights will operate on Tuesdays, Wednesdays and Saturdays, carried aboard the airline’s Boeing 777 freighter fleet.

The new service is expected to carry predominantly e-commerce shipments into Prestwick, which has positioned itself as a dedicated e-commerce gateway for the UK market after investing heavily in a purpose-built handling model. The aircraft then continues to Seoul Incheon (ICN) before returning to Hong Kong, with a stop at Oslo Airport (OSL) on the return leg.

Glasgow Prestwick has transformed itself into a specialist e-commerce hub, processing more than 25 million parcels through its Terminal E facility in February, a milestone it reached with the help of Air China Cargo and China Southern Airlines, which already operate a combined 15 weekly scheduled freighter flights from mainland China.

The airport’s growth in long-haul cargo services is expected to facilitate up to GBP 250 million in cross‑border trade in 2026. Royal Mail and EVRi established e‑commerce hubs in the airport’s dedicated 5,302 m² facility last year, and the expansion has already created over 250 direct jobs.

Scottish salmon exporters, pharmaceuticals, life sciences companies and other perishable industries also benefit from Prestwick’s dedicated cool‑chain facilities and specialist import-export services.

The new Hong Kong-Prestwick link is the latest in a series of Ethiopian Cargo expansion moves. In recent months the airline added a twice-weekly charter route connecting Macao and Madrid, which is expected to exceed 20,000 tons of cross‑border cargo annually.

It also integrated its booking system into the Freightos platform, giving freight forwarders digital access to real-time rates and e-booking across Ethiopian’s network, which serves more than 145 cargo destinations worldwide.

With an e‑commerce, mail and courier hub capable of handling 150,000 tons annually, Ethiopian Cargo continues to position itself as the critical logistics bridge between Asia, Africa and beyond.

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Ethiopia Attracts $3.52 Billion FDI in Nine Months, Up 23.7% Year-on-Year

#EBR_News Apr 24, 2026

Ethiopia has attracted $3.52 billion in foreign direct investment during the first nine months of the 2018 Ethiopian fiscal year, marking a 23.7 percent increase compared to the same period last year, according to a performance review conducted by the Ethiopian Investment Commission.

Deputy Commissioner Dagato Kumbe stated that the Commission has successfully discharged its institutional responsibilities over the nine-month period, driven by the firm implementation of its Targeted Investment Promotion Strategy. He also noted that the Commission exceeded its target for issuing new investment permits, granting licenses to 372 investors against a plan of 371, achieving over 100 percent of its goal.

During the review, officials also highlighted that the "Invest in Ethiopia 2026" Forum, held earlier this year, resulted in the signing of new investment agreements worth a total of $13.1 billion.

Deputy Commissioner Zinabu Yirga emphasized that the Commission recorded significant achievements in investor attraction, job creation, transitioning investment projects into operation and production, and generating foreign exchange earnings. He added that revenue from the export sector, along with import substitution efforts through domestic production, enabled the institution to meet its set targets.

The performance review also noted strengthened aftercare services, corrective actions taken against non-compliant investors, and productive consultation platforms held with stakeholders and investment associations.

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