Ethiopia daily brief, 11-Nov-26

• Awash Insurance became the first insurance company listed on the Ethiopian Securities Exchange's Main Market, under the ticker AWIN.
• Allied Gold poured its first gold at the Kurmuk mine and forecasts 240,000 to 270,000 ounces for 2027.
• The National Bank of Ethiopia published a directive setting up a framework for interest-free monetary operations.
• Ethiopia's WTO accession talks entered what officials call a critical phase at a Geneva working party meeting.
• Ethiopia's GDP was recalculated on a new base year, moving the country to fifth among Africa's largest economies.

TOP STORIES

* Awash Insurance lists 6,750,604 shares on ESX Main Market as first insurance company
  The Ethiopian Securities Exchange has admitted Awash Insurance S.C. to its Main Market under the ticker AWIN, with 6,750,604 shares listed. It is the first insurance company on the Exchange, and a Bell Ringing Ceremony marked the listing. Ethiopian Business Daily reports that trading began on November 10 and that the shares tripled in the first morning of trading.
  Ethiopian Securities Exchange; also Ethiopian Business Daily (Telegram)

* Allied Gold Pours First Gold at Kurmuk, Targets 240,000–270,000 Ounces in 2027
  Allied Gold announced that it poured its first gold at the Kurmuk mine in Ethiopia's Benishangul-Gumuz region on November 9, 2026. The company forecasts 25,000 to 35,000 ounces for the rest of 2026 and 240,000 to 270,000 ounces in 2027, with commercial production expected before the end of 2026. Remaining power infrastructure and haulage fleet mobilization are due in November.
  Birr Metrics; also Capital Ethiopia

* Ethiopia's central bank publishes directive EPD/01/2026 on interest-free monetary operations
  The National Bank of Ethiopia published directive EPD/01/2026 on November 9, setting up a separate framework for interest-free open-market operations and standing facilities. Birr Metrics reports that issuance of Islamic Treasury bills and sovereign Sukuk remains unconfirmed and would need rules beyond this directive. On October 29, 2026, the bank absorbed 317 billion birr from six bidders at a fixed 16 percent annual rate.
  Birr Metrics

* Ethiopia holds 8th WTO accession working party meeting in Geneva
  Ethiopia's WTO accession talks entered what the Ministry of Trade and Regional Integration calls a critical phase at the eighth Working Party meeting in Geneva on November 9 and 10, 2026. Minister Yasmin Wohabrebbi, the chief negotiator, led the delegation and said membership is part of Ethiopia's macroeconomic reform program. Bilateral market access talks were held with the United States and the European Union; 17 countries have requested such talks and agreements are signed with 11.
  Ministry of Trade and Regional Integration (Telegram)

POLITICS

* Ethiopia Has Over 4.2 Million Vacant Government Posts, Civil Service Commissioner Says
  Civil Service Commissioner Mekuria Haile says Ethiopia has over 4.2 million vacant government positions needing workers, and the government has no plan to lay off workers.
  Ethiopian Business Daily (Telegram)

ECONOMY

* Ethiopia's Ministry of Revenues Opens Draft Tax Directives, Including Error-Correction Rules, for Comment
  The Ministry of Revenues opened three draft tax directives for business comment.
  Tikvah Ethiopia (Telegram); also Ethiopian Business Daily (Telegram)

* Ethiopia's Trade Ministry sets Jan. 9, 2027 cutoff for khat exporter competency certificates
  Khat exporters must get a pre-license competency certificate and complete licence issuance, renewal or amendment within 30 days.
  Birr Metrics

* Ethiopia Seeks Nearly $11 Billion From Development Partners for Electrification Program
  Ministry of Water and Energy presented National Electrification Programme 3.0 on October 27, 2026, seeking nearly 11 billion dollars; higher scenario 18.1 billion, universal access by 2035.
  Birr Metrics

BUSINESS

* Ethiopian Airlines and Air Peace sign interline agreement covering passengers and checked baggage
  Ethiopian Airlines Group and Nigeria's Air Peace signed a bilateral interline agreement covering passengers and checked baggage.
  Ethiopian Business Review (Telegram); also Fana (English)

BANKS AND FINTECH

* NBE Auction Draws $156.73 Million in Bids Against $140 Million Allocation
  Commercial banks bid 156.73 million dollars in the National Bank's latest forex auction, above the 140 million allocation.
  Birr Metrics

FOREIGN RELATIONS

* Ethiopia's PM Abiy Meets Turkey's Erdoğan in Antalya Ahead of COP31
  Ethiopian Prime Minister Abiy Ahmed arrived in Antalya, Türkiye, ahead of the COP31 Leaders' Summit and met President Erdoğan.
  Fana (English)

OPINIONS AND ANALYSIS

* Ethiopia's GDP recalculation lifts it to Africa's 5th largest economy, from 9th
  Ethiopia rebased GDP to the 2017 Ethiopian calendar year from 2008, putting it at 24.03 trillion birr (201.42 billion dollars), up 59.2 percent and moving Ethiopia from ninth to fifth in Africa.
  BBC News Amharic; also Addis Fortune

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The Observatory · https://observatory.mgorsky.net/archive/356/