By our staff reporter
Global Bank Ethiopia, a prominent player in the banking industry for nearly 11 years, announced a remarkable achievement in the last financial year. With a strategic rebranding effort represented by a new name and logo, the now former South Global Bank successfully demonstrated its commitment to growth and prosperity. As a result, the bank’s profit before tax surged by an impressive 88 percent, surpassing other banks in the industry.
The bank’s financial performance was truly outstanding, with a profit exceeding 836 million birr. This substantial increase compared to the previous year showcases the bank’s ability to generate substantial returns and deliver value to its stakeholders. Moreover, Global Bank Ethiopia’s deposits reached an impressive 13.7 billion birr, while its total assets expanded to a remarkable 19 billion birr.
In line with its commitment to shareholders, the bank declared a dividend of 29.2 percent, signifying a 23 percent increase over the planned distribution for the fiscal year. Such shareholder returns underscore the bank’s dedication to rewarding its investors.
Since its establishment in 2012 with a paid-up capital of 138.9 million birr, Global Bank Ethiopia has experienced remarkable growth. Today, it boasts a substantial capital base of 2.1 billion birr and has attracted approximately 20,000 shareholders. Notably, Global Bank Ethiopia achieved the highest profit margin among all banks during the last financial year, reaffirming its position as a leading institution in the banking sector.
The bank’s loan portfolio demonstrated significant expansion, growing from 9.4 billion birr to 13.7 billion birr, further reflecting the institution’s commitment to supporting economic activities through lending. With a growing customer base, Global Bank Ethiopia now serves 1.2 million clients and operates an extensive network of 152 branches.

By Eyasu Zekarias
The agricultural sector holds a central role in the lives and livelihoods of the majority of Ethiopians. It is estimated that around 12 million smallholder farming households contribute to approximately 95 percent of agricultural production and 85 percent of employment.
Innovations that will shape the future of fertilizer use are considered crucial for the sector, but they have not been adequately communicated to farmers through official channels. To address this gap, the Fertilizer for Food (F4F) Innovation Challenge has been launched in Ethiopia. The aim of this initiative is to improve the accessibility of fertilizers to Ethiopian farmers at reasonable prices, while also focusing on enhancing the resilience and productivity of the fertilizer supply chain.
The adoption and promotion of good agricultural practices, particularly the optimal use of fertilizers to maximize crop production, should prioritize reaching women, youth, and other vulnerable groups who are in need of improved access to fertilization, food security, job opportunities, and better living conditions. The Fertilizer for Food innovation challenge recognizes that the solution to this challenge in Ethiopia is within reach.
The United States Agency for International Development’s (USAID) CATALYZE Market System for Growth (MS4G) initiative, in collaboration with Iceaddis, has received a total of 40 innovative ideas from different parts of the country for the Fertilizer for Food (F4F) Open Innovation Challenge (OIC) Challenge. Out of these, 15 ideas have reached the semi-final stage, and 13 have advanced to the final stage to participate in a competition designed to identify and accelerate new solutions and business models for accessing fertilizers.
The competition attracted applicants from various regions of Ethiopia, including private sector businesses, social enterprises, and market-oriented non-governmental organizations. After a rigorous selection process, 13 applicants were chosen as semi-finalists. Among the remaining six contestants are Green.REE Recycling, Bogale Borona Organic Fertilizer Production Company, Thur Biotech, and Three AM Manufacturing.
Bogale Borena, one of the shortlisted applicants, operates an organic fertilizer manufacturing company and presents their innovative business model. They focus on the production of vermicompost, currently utilizing organic fertilizer on their 5-hectare land and distributing it to farmers in different areas of the Sidama Dale district.
Another contestant, Three AM Manufacturing, specializes in producing and supplying affordable organic liquid fertilizer enriched with micro and macro elements, as well as effective micro-organisms. Their organic liquid fertilizer improves soil quality, unlike chemical fertilizers that can pollute soil and water. Their innovation is tailored to specific geological conditions found throughout the country, allowing them to produce effective liquid organic fertilizers for different regions.
Thur Biotech specializes in advanced bacterial biofertilizers aimed at enhancing agricultural productivity and restoring soil health. These biofertilizers have undergone three years of research in three regions, proving their ability to increase crop yields by 20-30% while being three times more cost-effective than conventional chemical fertilizers. They also contribute to disease and drought resistance, reduce the need for pesticides, and make agriculture more resilient to climate change.
The creative competition started on August 22 and will run until October 20. The program is expected to last for one year and six months. Finalists in the competition will receive funding ranging from US$20,000 to $200,000, along with opportunities for business consulting and marketing networking services.

Chinese construction giant, Sinoma International through its Ethiopian subsidiary opens a training center in Ethiopia.
According to the construction firm, the Ethiopian Industry-Education Integration Training Center, will provide a good opportunity for its Ethiopian subsidiary which will further assist the development of local education.
“We will fully support the work of the Industry-Education Integration Training Center, and assist in the development of job skills training and vocational education. Furthermore, we shall explore the ‘Chinese vocational skills’ service on matters, international production capacity cooperation model, as well as contribute to improving the Chinese proficiency, vocational skills and comprehensive quality and ability of local employees which down the road will cultivate versatile talents to not only master Chinese, and understand Chinese culture, but also become proficient in professional technologies,” Cheng Jin, General Manager of Sinoma International Ethiopian subsidiary disclosed.
“Through it all, we will have the opportunity to share the Chinese culture as well as promote people-to-people connections between China and foreign countries. This will further build a bridge of friendship between China and Africa, and create a better future,” Cheng Jin further elaborated.
Sinoma International entered Ethiopia in 2007 and has since participated in the construction and operation of all new-dry process cement production lines.
Sinoma International currently has four branches registered in Ethiopia, with its business covering general contracting projects, design consultation, technical services, logistics warehousing and ready-mix concrete production.