Subsidiary of Jupiter Group has formed joint venture with a Chinese electronics manufacturer to assemble energy meters in Ethiopia. The joint venture agreement was signed on Thursday, December 15, 2016 by Melaku Bisrat and Hu Ab, representing MYBABA Electronics Manufacturing PLC – the newly established JV Company – and Shenzhen Clou Electronics Co. Ltd.
Kacha Digital Financial Services launches a private payment document issuer service.
EthSwitch and Kacha Digital Financial Service signed an agreement to work together. Kacha joined EthSwitch, a payment platform for commercial banks, to expand its services and deliver efficient service to its customers.
The company is expected to collaborate with banks, microfinance institutions, insurance companies, and credit savings institutions to provide digital transactions in Ethiopia.
Expansion project Ethiopia is undertaking on Kality Wastewater Treatment Plant is said to be complete and go operational by the coming December.
Kenya Commercial Bank (KCB) is in negotiations with the National Bank of Ethiopia to acquire a stake in a local financial institution, CEO Paul Russo has confirmed. The move comes as Ethiopia gradually opens its banking sector to foreign players.
KCB is exploring entry through acquisition while considering an application for exemption from Ethiopia’s foreign ownership rules, which currently cap foreign shareholding at 49%. The bank is still searching for a local partner before formally approaching regulators.
Ethiopia began allowing foreign investors to apply for banking licenses in June 2025, a landmark reform that could reshape its financial landscape.
For KCB, expansion into Ethiopia aligns with its regional growth strategy. Subsidiaries outside Kenya contributed 36.6% of group profit after tax and 34% of total assets in the nine months to September 2024, compared to less than 5% a decade earlier. The bank reported an 8% rise in net profit in the first half of 2025, reaching USD 250 million.
Analysts say KCB’s entry could position it as a benchmark for Ethiopian banks preparing for the upcoming Ethiopian Securities Exchange.
Source: The Ethiopian Herald
