Business

Ethiopia: Passport Services to Require National ID (Fayida) Starting June 1

Addis Ababa, April 18, 2017 (FMC) — In a major policy shift aimed at enhancing security and improving service delivery, Ethiopia’s Immigration and Citizenship Service has announced that a valid National ID, known as Fayida, will become a mandatory prerequisite for obtaining a passport, effective June 1, 2017. The Immigration and Citizenship Service disclosed that

April 26, 2025 • By Addis Insight

Business

Fitch Upgrades Ethiopia’s Local Currency Rating Amid Macroeconomic Reforms

April 26, 2025 Hong Kong – Fitch Ratings has upgraded Ethiopia’s Long-Term Local-Currency Issuer Default Rating (LTLC IDR) from ‘CCC-‘ to ‘CCC+’, citing easing financing pressures and improved macroeconomic stability. However, the country’s Long-Term Foreign-Currency IDR (LTFC IDR) remains at ‘RD’ (Restricted Default), reflecting its ongoing external debt restructuring efforts. The upgrade reflects a series

April 26, 2025 • By Addis Insight

Entrepreneurship

Weyra Academy Launches 6-Week Web Development Course to Build Ethiopia’s Digital Workforce

Addis Ababa, Ethiopia — April 25, 2025 – In a move aimed at accelerating digital literacy and workforce development in Ethiopia, Weyra Academy has announced the launch of a 6-week web development course beginning May 26, 2025. The program is designed to equip beginners with the foundational skills needed to build websites and pursue careers

April 25, 2025 • By Addis Insight

Business

Ethio Telecom Sells Only 10.7% of 100 Million Shares After 121 Days of IPO Offering

Share Sale Results: Only a Fraction Sold Six months after launching Ethiopia’s first-ever Initial Public Offering (IPO), Ethio telecom announced it had sold just 10.7 million out of the 100 million ordinary shares on offer. Initially planned to run from October to January, the IPO was extended by an additional five weeks and officially closed

April 25, 2025 • By Addis Insight

Business

Lemi National Cement Powers Ethiopia’s Construction Boom with Over 12 Million Quintals Delivered

Lemi National Cement PLC is making major waves in Ethiopia’s construction industry, having supplied more than 12 million quintals of cement in just six months. This surge in distribution comes at a critical time, helping to ease the country’s long-standing cement shortage. With an impressive annual production capacity of 4.5 million metric tons, Lemi accounts

April 25, 2025 • By Addis Insight

Business

National Bank of Ethiopia Launches Modernized Ethiopian Automated Transfer System

The National Bank of Ethiopia (NBE) has officially launched the enhanced Ethiopian Automated Transfer System (EATS), a landmark upgrade that now operates using the internationally recognized ISO 20022 messaging standard. This significant development represents a pivotal step forward in the modernization of Ethiopia’s national payment infrastructure, aligning it with global best practices in financial communication

April 25, 2025 • By Addis Insight

Ethiopian War

Drone Strike Kills Over 100 Civilians in East Gojjam: Enarj Enawga Community Devastated by Tragedy

A devastating drone strike in the rural town of Enarj Enawga Woreda, located in the East Gojjam zone of Ethiopia’s Amhara region, has claimed the lives of over 100 individuals, according to local residents and eyewitnesses who spoke with the BBC. The incident, which occurred on Thursday, April 9, 2017 (Ethiopian calendar), has sparked national

April 23, 2025 • By Addis Insight

Business

Kenya Poised to Surpass Ethiopia as East Africa’s Largest Economy in 2025

April 23, 2025 | Africa Economics Desk Kenya is on track to overtake Ethiopia as East Africa’s largest economy this year, according to projections from the International Monetary Fund (IMF). The shift, driven largely by divergent monetary policies and currency dynamics, marks a turning point in the economic landscape of the region. GDP Projections Signal

April 23, 2025 • By Addis Insight

Uncategorized

Reunion After 16 Years: How Matt Damon’s Spark Fueled Hermella Wondimu’s Mission to Bring Clean Water to Ethiopia

On April 22, 2009, at a local airport in Ethiopia’s Tigray Region, Hermella Wondimu Woldehana, then a spirited university student, stood with six of her classmates from Mekelle University, eagerly anticipating a rare encounter with a global icon. That icon was Matt Damon—Hollywood star and humanitarian—whose visit to the region stirred excitement. But the meeting,

April 23, 2025 • By Addis Insight

Business

Boeing Expands African Presence with New Office in Addis Ababa

Addis Ababa, Ethiopia – April 23, 2025 – In a move underscoring its long-term commitment to the African aviation industry, Boeing has officially opened a new administrative office in Addis Ababa, Ethiopia. This marks the company’s second office on the continent and reinforces its strategic efforts to support airline partners and aviation stakeholders across Africa.

April 23, 2025 • By Addis Insight