Author: Addis Insight

Addis Insight is Ethiopia’s fastest growing digital news platform, providing consumers with the latest news from Ethiopia and its diaspora. We provide marketers with innovative opportunities to leverage our stories and overall brand with a fiercely curious and highly engaged audience.

Business

30 Days After Ethiopia’s Currency Float: Development Bank Leads with 110% USD Rate Spike

Ethiopia’s recent decision to float its currency on July 28, 2024, has led to a significant devaluation of the Ethiopian Birr (ETB) against major global currencies such as the Euro (EUR), US Dollar (USD), and British Pound (GBP). This strategic move was intended to stabilize the economy by allowing market forces to determine the exchange

August 29, 2024 • By Addis Insight

Business

Ethiopia Ends 22-Year Tax Exemption on Water, Electricity, and Transport Services

The Ethiopian government has announced a new directive aimed at revising the existing subsidy framework for water and electricity services. For the past 22 years, low-income households in Ethiopia have enjoyed water and electricity services exempt from additional value-added tax (VAT). This exemption was initially intended to alleviate the financial burden on low-income households. However,

August 29, 2024 • By Addis Insight

Culture

Meet Yonas Alemu: The Ethiopian Entrepreneur Who Exported Teff Pasta to Italy

Yonas Alemu, a visionary Ethiopian entrepreneur, has made headlines by exporting teff pasta to Italy, a country known for its rich pasta tradition. His journey from rural Ethiopia to global finance and back to his homeland is a testament to determination, innovation, and a deep connection to his roots. The Roots of an Idea Yonas

August 29, 2024 • By Addis Insight

News

Ambassador Lencho Bati Denied Accreditation by the U.S. Government

Thursday, August 29, 2024: Reports indicate that Ambassador Lencho Bati, who was recently appointed as Ethiopia’s ambassador to the United States, has been denied accreditation by the U.S. government. This decision comes just weeks after Ambassador Lencho was recalled from his previous post in Saudi Arabia and selected to represent Ethiopia in Washington, D.C. According

August 29, 2024 • By Addis Insight

Politics

Ethiopia Responds to Escalating Tensions in the Horn of Africa Following Egypt-Somalia Security Pact

The Federal Democratic Republic of Ethiopia’s Ministry of Foreign Affairs has released a statement addressing the current developments in the Horn of Africa, particularly in light of the recent military aid delivered by Egypt to Somalia. This move has heightened tensions in the region, with significant implications for Ethiopia. The impending establishment of a new