The Ethiopian Ministry of Agriculture (MoA) has formally denied issuing import permits for meat products from Uganda. In response to growing concerns over food safety regulatory breaches and illicit trade channels, the Ministry has launched an official investigation into how the unauthorized shipments entered the country.

Fikru Regassa, State Minister for the Livestock and Fishery Resources Development Sector, confirmed that no legal framework or bilateral agreement currently exists to allow Ugandan meat products into the Ethiopian market.

The Ministry’s statement directly contradicts a recent announcement by Ugandan meat processing firm Ranchers Finest Ltd. On July 1, 2026, the company stated it had dispatched its inaugural shipment of processed beef to Ethiopia’s Diamond Hotel and Restaurant Group. Under the reported supply agreement, the firm planned to export approximately 20 tons of processed beef and other premium meat products, including sausages, steaks, and lamb, on a monthly basis to the Ethiopian hospitality sector.

According to Ranchers Finest, the contract was secured through a competitive procurement process, with the company selected due to its compliance with international food safety standards, including ISO 22000:2018 and HACCP certifications. The company’s CEO, Collin Muyanja, expressed confidence that the agreement reflected growing trust in Uganda’s meat industry and would unlock further regional export opportunities. Ugandan officials celebrated the development as a historic milestone, with Hilary Emmanuel Musoke Kisanja, Senior Presidential Advisor on Agribusiness, describing it as a major achievement for Uganda’s livestock value-addition capabilities.

Despite the accolades in Kampala, Ethiopian regulatory bodies maintain that the shipment bypassed standard legal channels. Fikru stated that he tried to verify the matter with the agricultural authority, but they have no record or knowledge of the transaction. He emphasized that this is a major concern for the Ministry, which is now investigating how the product managed to bypass regulatory checkpoints.

Fikru further emphasized that unlike the formal bilateral agreements Ethiopia has established with other nations, it has signed no Memorandum of Understanding (MoU) with Uganda regarding meat products. He pointed out that unauthorized entry points indicate smuggling corridors that the government intends to deeply investigate and shut down. The State Minister shared these disclosures during a press briefing reviewing the four-year achievements recorded under the Yelemat Tirufat initiative.

While strict controls are being enforced against unauthorized imports, Fikru used the opportunity to outline Ethiopia’s broader economic direction under the African Continental Free Trade Area (AfCFTA). Ethiopia officially launched duty-free export trade to AfCFTA member states on October 9, 2025, with meat products being among the first air shipments sent to Kenya, Somalia, and South Africa.

Although Ethiopia has implemented preferential tariff reductions for 24 African nations, including Uganda, officials reiterated that regional trade liberalization does not exempt commercial entities from strict national biosecurity and regulatory compliance protocols.

A one third shareholders and the leadership of Anbesa Bank have requested an urgent meeting with National Bank of Ethiopia (NBE) Governor Eyob Tekalign after the central bank revoked its earlier approval of the bank’s 21st General Assembly minutes related to the election of its board of directors.

According to documents obtained by Capital, the NBE on June 19 withdrew a letter it had issued on June 8 to the Documents Authentication and Registration Service (DARS) confirming approval of the minutes of Anbesa Bank’s 21st General Assembly, which was held in October 2025.

In its revised decision, the central bank approved all resolutions passed at the general assembly except those related to the election of the board of directors. The NBE instructed DARS to authenticate all other resolutions while excluding the board election from registration.

Following the decision, Anbessa Bank’s board formally appealed to the regulator, requesting a review of the ruling. However, the NBE rejected the appeal in a subsequent letter issued on July 1, maintaining its earlier position and directing the bank to convene another general assembly this month to conduct a fresh board election.

The decision has prompted a strong response from shareholders. Sources told Capital that investors representing approximately 35 percent of the bank’s paid-up capital signed a petition on July 4, requesting a meeting with the NBE governor to seek clarification over the regulator’s decision and the current governance situation at the bank.

According to the sources, shareholders believe the central bank may have been misinformed about the nature of disagreements within the bank’s board of directors.
“They were led to believe that the board is deeply divided,” one source said. “Differences of opinion among board members are normal in any institution and are part of healthy corporate governance, particularly on issues affecting the bank’s profitability.”

However, the sources claimed the dispute extends beyond ordinary governance matters and involves broader political interests linked to Tigray.

They noted that Anbesa Bank has significant exposure to businesses and customers in the region, many of whom were severely affected by the northern Ethiopia conflict that erupted in November 2020.

According to the sources, the bank currently holds approximately 12 billion birr in non-performing loans (NPLs), with a substantial portion linked to borrowers in Tigray, including companies affiliated with EFFORT, the conglomerate historically associated with the TPLF.

The disagreement within the board reportedly centers on whether the bank should extend new loans and allocate foreign currency to companies that already have large outstanding debts.

“Some board members have been pushing for additional financing and foreign currency allocations for companies with significant unpaid loans,” one source said. “The majority of the board has opposed those requests, arguing that such decisions would violate prudent banking practices and regulatory requirements.”

Sources added that the current leadership believes its primary responsibility is to safeguard the bank’s financial stability while complying with NBE regulations.
“They have resisted pressure to provide fresh financing to heavily indebted borrowers,” the source said. “As a result, another group is attempting to replace the current board with directors who would be more supportive of those interests.”

In addition to the shareholders’ petition, Board Chairman Alem Asfaw has also formally requested a meeting with Governor Eyob Tekalign to present the board’s position and seek clarification on the regulator’s decision.

Despite rejecting the board election, the NBE upheld the general assembly’s resolution approving the bank’s capital increase after conducting what sources described as extensive verification. The approval enabled Anbesa Bank to raise its paid-up capital to more than six billion birr, exceeding the five-billion-birr minimum capital requirement that all commercial banks were required to meet by June 30, 2026.

The dispute has now evolved into one of the most closely watched governance issues in Ethiopia’s banking sector, with shareholders awaiting the regulator’s response to their request for direct engagement.

Gadaa Bank S.C. has officially launched a public offering of one million ordinary shares, leveraging strategic partnerships with Ethiopia’s leading investment firms. Following regulatory clearance from the Ethiopian Capital Market Authority (ECMA), the launch was announced in a joint statement by the bank’s CEO, Wolde Bulto, and Tilahun Esmael, CEO of the Ethiopian Securities Exchange (ESX).

To facilitate the transaction process, Gadaa Bank is collaborating with a syndicate of licensed brokerage firms, including Gadaa Securities Dealer, CBE Capital, Awash Capital, and Wegagen Capital Investment Bank. The shares are priced at an accessible 1,050 birr per unit—a strategy intentionally designed to ensure affordability, democratize equity ownership, and expand the bank’s retail investor base.

It was indicated that this capital injection aims to support Gadaa Bank’s next phase of growth, specifically targeting the expansion of digital banking infrastructure. This share issuance comes after the bank concluded a successful fiscal year, recording a pre-tax profit surpassing 1 billion birr and driving its total asset base to 16.54 billion birr.

The share subscription window opened on June 30, 2026 and it has been stated that it will remain open until September 27, 2026.