Uncategorized

Ethiopia Finalizes $8.4 Billion Debt Relief Agreement with Official Creditors

Ethiopia has reached a landmark agreement with its official creditors to restructure $8.4 billion in public debt, marking a critical step in the country’s efforts to stabilize its economy and restore financial credibility after years of turbulence. The Ministry of Finance announced the deal on Friday, revealing that it includes $2.5 billion in debt service

March 23, 2025 • By Addis Insight

Tech

From Ethiopia to Silicon Valley: Better Auth’s Journey to Y Combinator Amid Visa Challenges

In a remarkable development for the Ethiopian tech ecosystem, Better Auth, a 7-month-old open-source authentication framework, has been selected for Y Combinator’s prestigious Spring 2025 Cohort. This accomplishment marks a significant milestone for the startup, securing $500,000 in seed funding and gaining entry into one of the world’s most competitive startup accelerator programs. With an

March 22, 2025 • By Addis Insight

Business

How Investment Banks Will Unlock New Opportunities for Ethiopian Entrepreneurs

Ethiopia’s historic decision to allow investment banks in the country is a significant move that has the potential to transform its business landscape and foster economic growth. By opening up the financial sector to investment banks, Ethiopia will create a more robust and diverse financial environment, enabling businesses to access capital more efficiently, enhance corporate

March 21, 2025 • By Addis Insight

Business

Ethiopian Capital Market Authority Licenses Five New Service Providers,

Addis Ababa, Ethiopia – The Ethiopian Capital Market Authority (ECMA) marked a major milestone in the country’s financial development by granting licenses to five new capital market service providers (CMSPs) on March 21, 2025. This event increases the number of licensed CMSPs from four to nine, signaling a significant expansion in Ethiopia’s capital markets. The

March 21, 2025 • By Addis Insight

Uncategorized

Ethiopia to Inaugurate GERD, Africa’s Largest Hydropower Dam, in the Coming Months

Ethiopia is set to officially inaugurate the Grand Ethiopian Renaissance Dam (GERD) in the coming months, marking the near-completion of Africa’s largest hydropower project. Prime Minister Abiy Ahmed (PhD) confirmed to the Ethiopian House of People’s Representatives that the GERD will be inaugurated within the next six months. The dam, which began construction 15 years

March 20, 2025 • By Addis Insight

Business

Ethiopian Airlines and Etihad Airways Forge Landmark Partnership to Boost Connectivity Across Africa, the Middle East, and Asia

Addis Ababa, Ethiopia – March 19, 2025 – Ethiopian Airlines and Etihad Airways have announced a strategic Joint Business Agreement to enhance connectivity between Africa, the Middle East, and Asia. This partnership includes a codeshare arrangement and the introduction of new direct flights between Addis Ababa and Abu Dhabi, facilitating seamless travel for passengers and

March 19, 2025 • By Addis Insight

Business

Ethiopian Airlines to Launch Direct Flights to Hanoi, Vietnam

Ethiopian Airlines has officially announced the launch of four weekly flights to Hanoi, the capital city of Vietnam, set to begin on July 10, 2025. This new route is part of the airline’s ongoing expansion strategy to enhance its international network and provide more travel options between Africa and Southeast Asia. Ethiopian Airlines Group CEO,

March 19, 2025 • By Addis Insight

Business

Feres Increases Fare by 30 Birr Following Ride’s Price Adjustment

Feres, a major ride-hailing service in Ethiopia, has raised its base fare from 100 birr to 130 birr, implementing a 30 birr price increase effective this week. This adjustment comes months after Ride, another leading ride-hailing platform, increased its base fare to 130 birr, making Feres one of the last major platforms to adopt the

March 19, 2025 • By Addis Insight

Business

Moody’s Keeps Ethiopia’s Low Credit Rating—What’s Next for the Economy?

Addis Ababa, March 14, 2025 – Moody’s Ratings has completed its periodic review of Ethiopia’s sovereign credit rating, maintaining its Caa3 foreign currency and Caa2 local currency issuer ratings. The assessment underscores Ethiopia’s ongoing financial struggles, particularly in managing its external debt burden, despite recent economic reforms and financial assistance from the International Monetary Fund

March 18, 2025 • By Addis Insight

Entertainment & Arts

Farewell to a Legend: Merawi Sitota, Ethiopia’s King of the Clarinet

Ethiopia mourns the passing of one of its greatest musical legends, Merawi Sitota, who has departed from this world’s burdens. A pioneer of Ethiopian modern music, he leaves behind a legacy spanning over five decades—an era in which he stood as a pillar of instrumental and orchestral composition. Recognized as one of the founding figures

March 18, 2025 • By Addis Insight