Uncategorized

Dr. Sidy Mohamed Tah Elected as New President of the African Development Bank

May 29, 2025 | Addis Insight In a significant leadership shift for Africa’s premier financial institution, Dr. Sidy Mohamed Tah, the current Minister of Finance of Mauritania, has officially been elected as the new President of the African Development Bank (AfDB). The announcement was made today following a vote by the Bank’s Board of Governors,

May 29, 2025 • By Addis Insight

Culture

Addis Ababa’s Hotel Star Ratings Updated: Only 11 Five-Star Hotels in Africa’s Diplomatic Capital

Ethiopia | May 2025 – The Ethiopian Ministry of Tourism has released the official results of its latest hotel star grading reassessment for Addis Ababa, conducted for the year 2017 E.C. (2024/25 G.C.). A total of 40 hotels were evaluated, with ratings spanning from one to five stars based on internationally benchmarked service and infrastructure

May 29, 2025 • By Addis Insight

Business

Ethiopia’s Digital Creator Economy Gets a Boost as JAMI and Arifpay Launch Country’s First Multi-Currency Tipping Platform

Addis Ababa, Ethiopia — May 29, 2025 Ethiopia’s fast-growing digital economy just got a major shot in the arm. JAMI, a newly launched content monetization platform founded by local tech entrepreneur Nathan Damtew, has officially partnered with leading fintech company Arifpay to debut the country’s first multi-currency digital tipping service for creators. The platform, unveiled

May 29, 2025 • By Addis Insight

Business

Oromia Bank Joins Digital Lending Race with Launch of Miliki App

Oromia Bank has entered Ethiopia’s rapidly evolving digital lending space with the launch of Miliki, a new mobile application that offers collateral-free loans through an AI-driven credit assessment system. Developed in partnership with local fintech firm Quantum Technology, the app is part of the bank’s broader strategy to expand financial access and align with national

May 29, 2025 • By Addis Insight

Politics

Mengistu Haile Mariam at 88: Reflecting on the Legacy of Ethiopia’s Most Controversial Revolutionary

Mengistu Haile Mariam: Ethiopia’s Revolutionary Strongman and the Legacy of Power in Exile Mengistu Haile Mariam, born on May 21, 1937, is a figure etched deeply into Ethiopia’s 20th-century political history. As the leader of the Derg, a Marxist-Leninist military junta, Mengistu ushered in a brutal new era following the fall of Emperor Haile Selassie.

May 28, 2025 • By Addis Insight

Business

Ethiopian Airlines to Launch Daily Flights Between Moscow and Addis Ababa by December 2025

Addis Ababa, May 28, 2025 — Ethiopian Airlines has announced plans to significantly expand its air service between Moscow and Addis Ababa, with daily flights scheduled to commence in December 2025. This marks a major step in strengthening air connectivity between Ethiopia and Russia. Michael Endale Taffesse, Head of Ethiopian Airlines’ Representative Office in Russia

May 28, 2025 • By Addis Insight

Business

CBE Raises Dollar Rate by 7 Birr, Adds 10 Birr Remittance Bonus to Counter Black Market

Addis Ababa, Ethiopia – May 28, 2025 — In a swift and strategic shift, the Commercial Bank of Ethiopia (CBE) has increased its official dollar buying rate by 7 birr—from 124.0086 to 131 birr—in under a week. The move marks one of the most significant rate jumps in recent history, as the bank seeks to

May 28, 2025 • By Addis Insight

Business

National Bank of Ethiopia Raises Daily Transaction Limit to 300,000 Birr

Addis Ababa, May 27, 2025 — The National Bank of Ethiopia (NBE) has introduced a sweeping amendment to its Licensing and Authorization of Payment Instrument Issuer Directive, issued as Directive No. ONPS/10/2025, aimed at modernizing the country’s digital payment landscape. The directive introduces new compliance mandates, operational standards, and interoperability requirements, signaling a bold step

May 27, 2025 • By Addis Insight

Business

Ethiopian Airlines Earns $5.6 Billion in Revenue in Nine Months, Sets New Records in Passenger Growth and Expansion

Addis Ababa – May 2025 Ethiopian Airlines Group has reported a remarkable $5.6 billion in revenue over the past nine months, reflecting an 8% increase compared to the same period last year. The airline’s Chief Executive Officer, Mr. Mesfin Tasew, shared the performance update in an interview with the Ethiopian Broadcasting Corporation (EBC), highlighting the

May 27, 2025 • By Addis Insight

Business

IMF Executive Board to Review Ethiopia’s $3.4 Billion Program This Summer Amid Economic Reform Push

Addis Ababa, Ethiopia – The International Monetary Fund (IMF) is expected to hold a crucial Executive Board meeting this summer to review the third installment of Ethiopia’s $3.4 billion Extended Credit Facility (ECF) and Extended Fund Facility (EFF) program, according to IMF spokesperson Julie Kozack. The meeting could unlock the disbursement of around $265 million,

May 26, 2025 • By Addis Insight