Business

Ethiopian Electric Power Reports Record 75.4 Billion Birr Revenue as GERD Powers Energy Boom

Addis Ababa, August 1, 2025 (FMC) — The Ethiopian Electric Power (EEP) has reported a historic 75.4 billion birr (~$1.3 billion USD) in revenue for the 2017 Ethiopian fiscal year, driven by strong domestic consumption, increasing energy exports, and the accelerating output of the Grand Ethiopian Renaissance Dam (GERD). In a press briefing held today

August 7, 2025 • By Addis Insight

Business

National Bank of Ethiopia: $500M Monthly Forex Flow Now Available Through Banks

Addis Ababa, July 30, 2025 (FMC) — The Governor of the National Bank of Ethiopia (NBE), Ato Mamo Mehretu, has called on the business community to immediately cease using the parallel (informal) foreign exchange market. His remarks come amid a significant rise in the country’s official foreign exchange reserves and renewed efforts to stabilize the

August 6, 2025 • By Addis Insight

Business

National Bank of Ethiopia Issues Stern Warning to Illegal Money Transmitters Operating in UAE

Addis Ababa, Ethiopia – The National Bank of Ethiopia (NBE) has issued a strong warning against unauthorized money transmitters operating from the United Arab Emirates, particularly Dubai, for fueling the black market and destabilizing Ethiopia’s formal foreign exchange system. In an official statement released this week, NBE Governor Ato Mamo Mehret said the central bank

August 6, 2025 • By Addis Insight

Business

New Bus Line Connects Nairobi and Addis Ababa with Round-Trip Fare of 16,000 Birr

August 6, 2025 | Addis Ababa / Nairobi — A new cross-border ground transportation service has officially launched between Nairobi, Kenya and Addis Ababa, Ethiopia, offering an affordable travel alternative with enhanced comfort and daily service. Abyssinia Luxury Coach, a transport company operating in the region, began its services last Sunday, according to company director

August 6, 2025 • By Addis Insight

Business

Ethiopia’s Digital Creators Struggle for Inclusion in the Global Monetization Game

Ethiopia is witnessing a digital revolution. From TikTok comedians in Gonder to YouTube educators in Hawassa and Instagram stylists in Addis Ababa, a new creative class is shaping the nation’s online landscape. But despite explosive growth in internet and mobile penetration, Ethiopia’s creators remain locked out of the global digital economy. This isn’t a story

August 6, 2025 • By Addis Insight

Business

Ethiopia Sells $150M in Foreign Exchange Auction as Birr Weakens to 138.26/USD

Addis Ababa, August 5, 2025 — The National Bank of Ethiopia (NBE) has executed its largest foreign exchange auction to date, selling $150 million to 28 commercial banks at a weighted average rate of 138.2555 Birr per US dollar. The move marks another step in Ethiopia’s cautious shift toward a more market-reflective exchange regime. This

August 5, 2025 • By Addis Insight

Business

Ethiopian Airlines Reports $28 Million Loss from Domestic Flights, Confirms Ongoing Fund Freeze in Eritrea

Addis Ababa, August 5, 2025 — Ethiopian Airlines Group has reported a $28 million loss from its domestic flight operations over the past fiscal year, according to CEO Mesfin Tasew. The loss, he said, stems from rising costs in foreign currency while domestic ticket prices remained largely unchanged amid macroeconomic reforms. Speaking at a press

August 5, 2025 • By Addis Insight

Business

Starlink Launches in Somalia,But Triggers Political Tensions with Somaliland

Starlink, the satellite internet division of Elon Musk’s SpaceX, has officially launched operations in Somalia, delivering high-speed, low-latency broadband across the Horn of Africa nation. The announcement—hailed as a transformative step for digital inclusion—has also sparked diplomatic friction with the breakaway region of Somaliland over territorial representation. The launch was confirmed early Tuesday via a

August 5, 2025 • By Addis Insight

Business

Ethiopian Airlines to Begin Construction of $10 Billion Bishoftu Airport in November

Ethiopian Airlines Group has announced it will break ground in November 2025 on one of Africa’s most ambitious aviation infrastructure projects: the $10 billion Bishoftu International Airport. Located approximately 39 kilometers southeast of Addis Ababa, near the town of Bishoftu (Debre Zeit), the airport will become a central pillar of Ethiopia’s long-term aviation and economic

August 5, 2025 • By Addis Insight

Business

Ethiopian Airlines Denies Reports of Aircraft Lease Talks with Russia

Addis Ababa – August 5, 2025Ethiopian Airlines Group CEO Mesfin Tasew has firmly denied reports claiming the airline is in negotiations to lease aircraft to Russia, calling the allegations “completely false.” The statement comes in response to a recent article published by Capital newspaper, which suggested that Ethiopian authorities were in talks with their Russian

August 5, 2025 • By Addis Insight