Wealth Management - Ethiopia

  • Ethiopia
  • In Ethiopia, the Wealth Management market is expected to witness significant growth in the coming years.
  • By 2024, the projected assets under management in this market are estimated to reach US$2,333.00m.
  • Digital Investment services are expected to dominate the market with a projected market volume of US$1,482.00m by 2024.
  • Looking ahead, the assets under management are anticipated to display an annual growth rate of 6.17% from 2024 to 2028, resulting in a market volume of US$2,964.00m by 2028.
  • Ethiopia's Wealth Management market is experiencing a surge in demand as the country's economy continues to grow and attract foreign investors.

Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore

Region comparison

Analyst Opinion

Wealth Management market in Ethiopia is developing at a steady pace, driven by various factors such as increasing disposable income, growing middle class, and a rising demand for financial planning and investment services.

Customer preferences:
Ethiopian customers are increasingly seeking professional advice and assistance in managing their wealth. They are looking for personalized and tailored investment solutions that can help them achieve their financial goals. This shift in customer preferences is fueled by a growing awareness about the importance of financial planning and the benefits of investing in diverse asset classes. Additionally, customers are becoming more tech-savvy and are open to using digital platforms for wealth management services.

Trends in the market:
One of the key trends in the Wealth Management market in Ethiopia is the emergence of robo-advisory services. Robo-advisors, which are online platforms that use algorithms to provide investment advice, are gaining popularity among tech-savvy customers who prefer a low-cost and convenient way of managing their wealth. This trend is driven by the increasing penetration of smartphones and internet connectivity in the country. Another trend in the market is the growing interest in socially responsible investing (SRI). Ethiopian customers are increasingly conscious about the social and environmental impact of their investments and are looking for wealth management solutions that align with their values. This trend is in line with the global shift towards sustainable investing and presents an opportunity for wealth management firms to cater to this growing demand.

Local special circumstances:
Ethiopia has a young and rapidly growing population, which presents a unique opportunity for the Wealth Management market. As the country continues to experience economic growth and urbanization, more individuals are entering the workforce and accumulating wealth. This demographic dividend creates a favorable environment for wealth management firms to tap into a growing customer base and expand their services.

Underlying macroeconomic factors:
The Ethiopian economy has been growing at a steady rate in recent years, driven by investments in infrastructure, agriculture, and manufacturing sectors. This economic growth has contributed to an increase in disposable income and a growing middle class, which in turn fuels the demand for wealth management services. Additionally, the government's efforts to promote financial inclusion and improve the regulatory framework for the financial sector have also played a role in the development of the Wealth Management market in Ethiopia. In conclusion, the Wealth Management market in Ethiopia is experiencing growth and development due to increasing customer preferences for professional wealth management services, emerging trends such as robo-advisory and socially responsible investing, local special circumstances such as a young and growing population, and underlying macroeconomic factors including economic growth and government initiatives. As the market continues to evolve, wealth management firms have the opportunity to cater to the diverse needs and preferences of Ethiopian customers and contribute to their financial well-being.


Data coverage:

The data encompasses B2C enterprises. The figures are based on gross revenues, assets under management, and user & advisor data of relevant services and products offered within the Wealth Management market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research activities (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as: GDP, gross national income (GNI), consumer spending, total investment (% of GDP), high income (% of population), and number of high-net-worth individuals (HNWI). This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).


  • Assets Under Management (AUM)
  • Analyst Opinion
  • Financial Advisors
  • High Net Worth Individuals
  • Methodology
  • Key Market Indicators
Please wait


Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)