Apple Inc., the California-based global technology giant, is taking a major step toward expanding its market presence in East Africa. In high-level delegate discussions held in Addis Ababa on July 2, 2026, representatives from the technology company engaged in strategic talks with Ethiopian government officials—a significant development that could sustainably transform the country’s growing digital landscape.

Founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple has grown from a small computer operation started in a garage into a global company with a market valuation approaching $4 trillion.

During the discussions held between the Ministry of Innovation and Technology (MinT), the Ethiopian Investment Commission, and Ali Kanafer, Apple’s Director of Trade Policy and Government Affairs for Europe, Middle East, and Africa (EMEA), the focus was placed on aligning Ethiopia’s digital goals with Apple’s global strategy.

The Minister of Innovation and Technology, Belete Molla, stated that the “Digital Ethiopia 2025” strategy has achieved successful results in modernizing the country’s payment systems and creating an inclusive digital economy. Looking ahead, he informed the Apple delegation of the government’s ambitious plans to focus on the “Digital Ethiopia 2030” strategy, emphasizing their commitment to facilitating digital transformation and creating favorable conditions for global technology companies.

Known for iconic hardware products such as the iPhone, iPad, and Mac, as well as an extensive suite of digital services like the App Store, Apple Music, and iCloud, Apple continues to redefine how humanity interacts with technology.

Similarly, the Deputy Commissioner of the Ethiopian Investment Commission, Dagato Kumbe, who also held discussions with the company’s representative, emphasized the country’s commitment to building a robust digital economy.

Highlighting the opening of Ethiopia’s telecom and trade sectors to foreign companies, as well as the ongoing construction of the Information and Communication Technology (ICT) Park, the Commission extended an invitation for Apple to invest in Ethiopia.

For his part, Ali Kanafer expressed his admiration for the rapid policy reforms Ethiopia is undertaking and the strength of its digital ecosystem. Confirming Apple’s deep interest in Ethiopia’s market potential, Kanafer requested the necessary government support and the facilitation of partnerships with local stakeholders to streamline the company’s entry into the country.

The International Monetary Fund (IMF) has urged the National Bank of Ethiopia (NBE) to remain prepared to tighten monetary policy further if a second round of inflationary pressures emerges, emphasizing the need to preserve the macroeconomic gains achieved under Ethiopia’s economic reform program.

The IMF’s warning comes as inflation, which briefly fell to single digits in February, has accelerated again since April. The Ethiopian government has attributed the renewed price pressures largely to external shocks, particularly the conflict in the Middle East and concerns over disruptions to shipping through the Strait of Hormuz, which have driven up imported fuel costs.

The recommendation followed the IMF Executive Board’s completion of the fifth review of Ethiopia’s 48-month Extended Credit Facility (ECF), unlocking an immediate disbursement of about US$464 million to support the country’s balance of payments and fiscal financing needs.

According to the IMF, maintaining a tight monetary stance remains appropriate to anchor inflation expectations. However, the Fund stressed that the NBE should stand ready to tighten policy further if higher fuel prices and other external shocks trigger broader, second-round inflationary effects.

The IMF also encouraged the central bank to continue modernizing its monetary policy framework and deepen reforms in the foreign exchange market, including expanding the interbank FX market, easing selected exchange restrictions, enforcing net open FX position limits, and strengthening competition among banks.

Since August 2023, the NBE has maintained a credit growth cap on banks, which currently stands at 24 percent. The central bank had previously indicated it would begin lifting the cap by September 2025, while it was not happened. Although officials had signaled further adjustments by the end of last month, no changes have yet been announced.

Awash Bank, a renowned institution in Ethiopia, has officially announced its intention to expand beyond national borders into other regional markets. The bank has confirmed that it has submitted a formal request to the National Bank of Ethiopia (NBE) to realize this goal.

Tsehay Shiferaw, CEO of Awash Bank, explained that the request is currently in process, and a response is expected within the coming days. This effort toward regional expansion comes at a critical time for Ethiopia’s financial sector. Following a policy shift by the federal government allowing foreign banks to operate domestically, Awash Bank is moving to expand into neighboring countries that have strong trade ties with Ethiopia.

Although the bank did not specify by name which neighboring countries it plans to expand into, the CEO explained that its focus is on countries in the region with strong commercial relationships with Ethiopia.

While awaiting a response from the National Bank, the bank is focusing on its ongoing domestic transformation projects. Tsehay noted that the bank is working on digital integration and branch expansion—including the opening of 25 new branches recently—which will enable it to remain competitive and profitable in the changing economic landscape.

These details were disclosed during a statement regarding the bank’s performance for the 2025/26 fiscal year. As reported, the bank’s total deposits reached 467.8 billion Birr as of June 30, 2026.

Tsehay stated that the bank’s total assets reached 622 billion Birr, and the paid-up capital grew by 38 percent from 27.9 billion Birr last year, reaching 38.5 billion Birr as of June 30—an increase of 10.6 billion Birr.

The bank also indicated that its total revenue for the 2018 fiscal year exceeded 85.37 billion Birr, while its total expenditure reached 44.62 billion Birr.