Weekly Insights · Market Updates
Download latest PDF
Market Updates & Research

Weekly Insights. Stay informed.

Follow inflation, exchange rates, T-bill yields, equity-market activity, and market movement in plain language for people watching Ethiopia's markets.

Latest report

Weekly Insight · January 1, 2026

Issue 8 · January 1–28, 2026
PDF

Inflation continues to trend downward, the birr held broadly stable near 155 per USD, and short-term T-bill yields declined as Ethiopia entered Q1 2026 with improving investor confidence.

MacroFXT-BillsEquity Market
Market Outlook

Lower inflation is improving the case for cautious market participation.

Lower inflation and positive real yields may increase investor interest in fixed-income products during 2026, while equity participation remains early-stage and concentrated in banks.

Market Snapshot

January 2026 desk view

Inflation
9.7%

Disinflation continues

91-day T-bill yield
13.19%

Short-term yield moved lower

Highest listed equity
CBE

Banking remains the key exposure

Market trend
Cautious improvement

Confidence is building from a low base

Investor sentiment
Cautiously positive

Education and trust still matter most

In this issue

What changed this week.

Research for investors, institutions & partners
Inflation
9.7%

Headline inflation eased into year-end from 13.9%

USD / ETB
~155

Exchange rate stayed broadly stable through January

91-day T-bill
13.19%

Yield dropped sharply versus December auction

Market tone
Improving

Confidence and liquidity trends strengthened

What this means for investors

Data becomes useful when it changes decisions.

Falling inflation is improving the real-return profile of Treasury Bills for cautious investors.
Short-term T-bills may become less attractive if yields continue declining, especially for investors seeking income.
Banks remain the dominant listed equity exposure on the ESX, so diversification is still limited.
Fixed-income products currently offer a clearer first step than equities for many new investors because volatility is easier to understand.
Risk Watch
  • Liquidity in the secondary market remains limited, which can make exits slower or less predictable.
  • Listed equity exposure is still concentrated in banking institutions.
  • Inflation has improved but remains above long-term stability levels.
  • Regulatory, custody, market-data, and settlement infrastructure reforms are still evolving.
Beginner Insight

What is a Treasury Bill?

Treasury Bills are short-term government securities issued through the National Bank of Ethiopia. Investors lend money to the government and receive a fixed return at maturity.

Ethiopia market dashboard

Turn weekly notes into a clear market intelligence view.

Instead of only showing PDFs, Kashup Insights can show Ethiopia's market picture: watchlists, T-bills, exchange rates, inflation, liquidity, and investor interest by region.

Local market view
Built for Ethiopian shares, T-bills, bonds, and partner broker steps.
Clear investor notes
Simple trend language for retail, diaspora, and professional users.
Market dashboard
Addis Ababa Market Desk
Ethiopia context
ESX mood
Improving

Bank shares and T-bills are getting more attention

USD / ETB
155.2

A simple exchange-rate reference for the week

91-day T-bill
13.19%

Short-term government bill yields moved lower

Inflation
9.7%

Headline inflation eased from the prior quarter

ESX watchlist
Indicative market monitor
CBE
Commercial Bank of Ethiopia
ETB 742
+1.8%
EIH
Ethio Investment Holdings
ETB 318
+0.9%
WGB
Wegagen Bank
ETB 286
-0.4%
TBL91
Treasury bill 91D
13.19%
-42 bps
Equity Market
BanksT-billsIssuers
Addis Ababa
Company activity
High
Dire Dawa
Diaspora interest
Rising
Hawassa
Business interest
Active
For first-time investors

New to investing? Start with simulated portfolios and learn how Ethiopian markets work before placing real investment requests.

Start learning
Report archive

All research notes.

All ReportsMacroFXT-Bills & BondsEquitiesCapital MarketsResearch Notes
Visual research dashboard

Ethiopia market dashboard

Addis Ababa desk
ESX mood
Improving

Bank shares and T-bills are getting more attention

USD / ETB
155.2

A simple exchange-rate reference for the week

91-day T-bill
13.19%

Short-term government bill yields moved lower

Inflation
9.7%

Headline inflation eased from the prior quarter

Fixed Income Market
Market watchlist
Prices and rates in plain view
CBE
Commercial Bank of Ethiopia
ETB 742
+1.8%
EIH
Ethio Investment Holdings
ETB 318
+0.9%
WGB
Wegagen Bank
ETB 286
-0.4%
TBL91
Treasury bill 91D
13.19%
-42 bps
Addis Ababa
Company activity
High
Dire Dawa
Diaspora interest
Rising
Hawassa
Business interest
Active
Weekly report

Weekly Insight · April 2026

Macro · Equity market · FX

Recent market notes, exchange-rate watch, and investor context from Ethiopia's securities markets.

MacroFX
Weekly report

Weekly Insight · January 1, 2026

Issue 8

Inflation and T-bill trends with market implications for investors and institutions heading into Q1.

MacroT-BillsFX
Weekly report

Weekly Insight · December 29, 2025

Issue 7

Year-end market conditions, yield movement, and portfolio positioning notes for fixed-income investors.

RatesLiquidity
Weekly report

Weekly Insight · December 10, 2025

Issue 6

Capital-market overview with issuer and investor context, including listed company performance.

EquitiesMacro
Weekly report

Weekly Insight · November 1–25, 2025

Issue 5

A broader monthly-style market wrap with rate and policy context across fixed income and equities.

MacroBonds
Weekly report

Weekly Insight · October 1–15, 2025

Issue 4

A short update on money-market and exchange-rate movement during the Q4 transition.

FXT-Bills
Weekly report

Weekly Insight · September 23–30, 2025

Issue 3

Weekly investor note on listings, capital flows, and yield expectations as ESX volumes grow.

EquitiesRates
Weekly report

Weekly Insight · August 6–20, 2025

Issue 2

Early research archive covering fixed-income conditions and key investor themes.

ResearchFixed Income
Weekly report

Weekly Insight · August 5, 2025

Issue 1

Foundational insight report for historical context and market baseline tracking from launch.

Archive
Sources
National Bank of Ethiopia (NBE)Ethiopian Securities Exchange (ESX)Ethiopian Statistical Service (ESS)

Data is provided for informational purposes only and may be delayed, estimated, or revised. Kashup Insights is educational research, not investment advice.

Subscribe

Get Weekly Insights in your inbox.

Subscribe for market updates, macro commentary, and new research notes from Kashup — delivered every week to investors, institutions, and partners.