Business News & Information

🌍WEEKLY BUSINESS NEWS HIGLIGHTS

The following business highlights, sourced from recent reports in The Reporter Ethiopia, provide key updates on the investment landscape and economic developments within the country:

May 7,2026

Telecommunications & Digital Infrastructure

• Strategic Partnerships: Ethio telecom has successfully concluded talks with British International Investment (BII), the UK’s development finance institution, to support its ongoing development.

• Universal Access Funding: Telecom operators, including Ethio telecom and Safaricom, are now required to contribute 1.5% of their gross annual revenue to a new Universal Access Fund.

• Digital Finance Trends: While mobile money is expanding rapidly in the merchant economy, a recent report indicates that digital payments have not yet translated into widespread access to formal credit.

Capital Markets & Investment Climate

• Shareholder Landscape: The Ethiopian Capital Market Authority (ECMA) noted that the total number of shareholders across all industries remains below 500,000, highlighting significant room for growth in the domestic capital market.

• Private Investment Initiatives: The government has identified several public projects that currently lack funding and is seeking approximately USD 7.3 billion in private investment to develop and operate these assets.

• Investor Feedback: At recent business forums, investors highlighted restrictive visa policies for foreign professionals as a primary barrier to entry, despite over USD 13 billion in investment deals being inked during a two-day event.

State Enterprises & Trade Regulation

• Industrial Park Growth: The Industrial Parks Development Corporation (IPDC) reported a net profit of nearly 650 million Birr for the 2024/25 fiscal year, driven by gains in lease income and foreign exchange.

• Regulatory Amendments: A proposed amendment to the Customs Proclamation suggests stricter penalties, including vehicle seizures, for transport providers involved in contraband trade.

• Insurance Oversight: The National Bank of Ethiopia (NBE) has issued a six-month deadline for insurance companies to secure official approval for all senior executive positions.

International Economic Relations

• Sustainable Energy: Ethiopia was ranked among the top 10 recipients of European Union financing for energy projects related to sustainable development goals between 2014 and 2024.

• Bilateral Collaboration: Officials are encouraging Italian firms to move beyond traditional trade and focus on deeper technology transfer and long-term industrial collaboration.

🌍Business woman of the Year

Rekik Bekele is a transformative leader in Ethiopia’s renewable energy sector, and featuring her as the "Business Woman of the Year" on the Ethiopian Diaspora Business Network (EDBN) website would highlight a powerful example of local innovation and social impact.

Business Woman of the Year:

Rekik Bekele

Founder & CEO, Green Scene Energy PLC

A Vision for an Empowered Ethiopia

Rekik Bekele is an electrical engineer and a pioneering entrepreneur dedicated to solving one of Ethiopia’s most pressing challenges: energy access. As the Founder and CEO of Green Scene Energy PLC, Rekik has bridged the gap between advanced technology and rural necessity, bringing light and opportunity to thousands of households across the nation.

Key Achievements & Impact

• Pioneering Solar Energy: Since establishing Green Scene Energy in 2016, Rekik has spearheaded the distribution of solar home systems and renewable energy solutions to over 100 off-grid communities.

• Transforming Lives: Her work has directly impacted more than 42,000 lives, providing reliable lighting to schools, clinics, and families. Her passion was sparked early in her career when she witnessed the critical importance of electricity for maternal health and emergency medical care in remote areas.

• Award-Winning Leadership: In recognition of her significant contributions to the private sector and her role as a trailblazer for women in engineering, Rekik was honored with the Influential Women in Energy Award in 2021.

• Advocacy and Mentorship: Beyond her business success, Rekik is a dedicated mentor who frequently speaks at universities and vocational schools (TVETs), inspiring the next generation of female entrepreneurs to pursue careers in STEM and renewable energy.

Why She Represents the EDBN Spirit

Rekik Bekele embodies the resilience and forward-thinking nature of Ethiopian business leaders. By combining technical expertise with a profound commitment to community-managed sustainability, she has built a scalable business model that serves as a blueprint for development. Her recognition as "Business Woman of the Year" celebrates her role in driving economic growth and improving the quality of life for all Ethiopians through innovation.

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