Business

Ethiopian Electric Power Opens $445 Million International Bid for Landmark 62-Story HQ

Addis Ababa, Ethiopia – May 19, 2025 – Ethiopian Electric Power (EEP) has launched an international pre-qualification process for the design and construction of a landmark 62-story headquarters in the heart of Addis Ababa, valued at an estimated $445 million. The mega project will rise in the city’s Mexican neighborhood, on a 20,792-square-meter plot within

May 19, 2025 • By Addis Insight

Business

Google’s NotebookLM Launches Amharic Support, Enhancing AI Accessibility in Ethiopia

In a significant stride towards inclusivity, Google has expanded its AI-powered note-taking assistant, NotebookLM, to support Amharic, Ethiopia’s official language. This development is part of a broader initiative to make advanced AI tools accessible to a more diverse global audience. NotebookLM, initially introduced as Project Tailwind, utilizes Google’s Gemini 1.5 Pro large language model to

May 16, 2025 • By Addis Insight

Business

Wegagen Capital Becomes First Trading Member of Ethiopian Securities Exchange

In a landmark moment for Ethiopia’s financial sector, Wegagen Capital Investment Bank S.C. has become the first institution to receive a Trading Membership Certificate from the Ethiopian Securities Exchange (ESX). This achievement follows the firm’s recent investment banking license from the Ethiopian Capital Market Authority (ECMA), positioning Wegagen Capital at the forefront of the country’s

May 15, 2025 • By Addis Insight

Uncategorized

White Coats Down: 70% of Ethiopia’s Health Services Halt in Nationwide Protest

Health professionals across Ethiopia have commenced a partial strike following what they say is the government’s failure to respond to long-standing grievances over inadequate salaries, poor working conditions, and systemic neglect of the health sector. The workers had issued a 30-day notice demanding urgent reforms, but after receiving no formal reply, they began to withdraw

May 13, 2025 • By Addis Insight

Uncategorized

Is Ethiopia Truly Benefiting from Selling Energy to Bitcoin Miners?By Henok Gidey

By Henok Gidey Ethiopia’s abundant renewable energy resources, particularly hydropower, have recently attracted global attention—not just for the Grand Ethiopian Renaissance Dam (GERD), but also as a new hotspot for cryptocurrency mining. Foreign Bitcoin mining companies are establishing data centers in Ethiopia, drawn by the country’s low-cost electricity. While this development is often portrayed as

May 13, 2025 • By Addis Insight

Business

President of Ethiopian Health Professionals Association and Doctors Arrested Amid Growing Tensions

The President of the Ethiopian Health Professionals Association, Ato Yonatan Daneye, along with three doctors from Arba Minch General Hospital, has been taken into police custody. This brings the total number of health professionals arrested in Addis Ababa, the Amhara Region, and the Southern Nations, Nationalities, and Peoples’ Region to five. Meanwhile, five others detained

May 12, 2025 • By Addis Insight

Entertainment & Arts

“Yasteseryal” at 20: The Album that Revolutionized Ethiopian Music and Consciousness

In 2005, a voice rose from the heart of Ethiopia that cut through political silence, generational apathy, and cultural amnesia. That voice belonged to Tewodros Kassahun—better known as Teddy Afro—and the message was Yasteseryal. Today, two decades later, we commemorate this landmark album not just as a musical achievement but as a cultural reckoning and

May 10, 2025 • By Addis Insight

Uncategorized

Ethiopia Increases Fuel Prices by 10 Birr per Litre at Retail Level

Starting from today, May 8, 2025 (Miyazya 30, 2017 E.C.), at 6:00 p.m., the Ethiopian Ministry of Trade and Regional Integration has announced a 10 Birr increase in the retail price of petroleum products. This adjustment is based on global fuel price trends and will affect all fuel stations nationwide. According to the updated price

May 8, 2025 • By Addis Insight

Business

Ethiopian Capital Market Authority Launches Probe into Unlicensed Fundraising Involving Ermias Amelga

The Ethiopian Capital Market Authority (ECMA) has initiated a formal investigation into alleged illegal fundraising activities involving well-known entrepreneur Ato Ermias Amelga and a company identified as Genesis Investment Services. In an official statement released this week, the Authority revealed that it has received multiple complaints regarding unauthorized public fundraising through the sale of securities.

May 7, 2025 • By Addis Insight

Business

National Bank of Ethiopia Sells USD at Average Rate of 132 Birr

Addis Ababa, May 7, 2025 — The National Bank of Ethiopia (NBE) sold U.S. dollars at an average exchange rate of 132.9643 birr during its most recent foreign currency auction held today, continuing its new auction-based approach to managing the country’s forex supply. According to the central bank, a total of 16 commercial banks participated

May 7, 2025 • By Addis Insight