News Wire

Grand Ethiopian Renaissance Dam (GERD) Fifth Turbine Begins Power Generation

GERD Achieves Milestone as Fifth Turbine Begins Power Generation ADDIS ABABA, Ethiopia – February 19, 2025 – The Grand Ethiopian Renaissance Dam (GERD) has reached another milestone with the successful activation of its fifth operational turbine, Unit 6, marking a step forward in Ethiopia’s hydropower development. According to project officials, Unit 6 has begun generating

February 19, 2025 • By Addis Insight

Business

Yango Ride Introduces Comfort Class, Delivering Enhanced Ride-Hailing at an Affordable Price

Addis Ababa, Ethiopia – February , 2024 – Yango Ride, a ride-hailing service under the global tech company Yango Group, has introduced its new Comfort Class in Ethiopia. With a starting fare of just 100 birr, the new tariff offers passengers a premium travel experience designed to meet the evolving needs of local passengers. By

February 19, 2025 • By Addis Insight

Business

Ethiopia Set for Surge in Digital Payments Ecosystem: Visa Study Reveals Path to Accelerated Growth 

Addis Ababa, Ethiopia, February 13 2025:  Visa (NYSE: V), a global leader in payments, today announced the launch of a new report, ‘Value of Acceptance: Understanding the Digital Payment Landscape in Ethiopia.’ The report reveals rapid digital payment adoption among small and medium-sized enterprises (SMEs), with the vast majority recognizing the benefits for consumers.  The

February 19, 2025 • By Addis Insight

Business

Ethiopian Capital Market Authority Grants Securities Investment Advisor License to Ethio Capital Solutions PLC

Addis Ababa, Ethiopia – February 19, 2025 The Ethiopian Capital Market Authority (ECMA) has officially issued a Securities Investment Advisor License to Ethio Capital Solutions PLC, expanding the range of professional investment advisory services available in the country’s capital market. The move is part of ECMA’s broader effort to develop a well-regulated, transparent, and dynamic

February 19, 2025 • By Addis Insight

Business

AliExpress to Expand Local Currency Payments in Ethiopia and Beyond

AliExpress, the global e-commerce platform owned by Alibaba, is set to expand its local currency payment options across several African countries, including Ethiopia, Nigeria, Kenya, South Africa, and Egypt, by February 24. This initiative is designed to enhance accessibility and convenience for African consumers, eliminating the reliance on international payment methods such as credit cards

February 19, 2025 • By Addis Insight

Business

Hilton Expands Presence in Ethiopia with DoubleTree Hotels in Adama and Dire Dawa

Hilton is strengthening its footprint in Ethiopia with the signing of a deal with Brighton Hotels and Business Plc. to introduce two new DoubleTree by Hilton properties in Adama and Dire Dawa. Set to open in 2028, these hotels will bring internationally branded hospitality to two of Ethiopia’s key regional cities, supporting the country’s growing

February 18, 2025 • By Addis Insight

Business

Ethiopia Secures $600 Million Investment for Integrated Dairy and Commercial Farming Project

Addis Ababa, Ethiopia – Ethiopian Investment Holdings (EIH), Ethiopian Agricultural Business Corporation (EABC), and Asset Green have entered into a Shareholders Agreement (SHA) to jointly invest in an Integrated Dairy and Commercial Farming Project. The partnership aims to enhance Ethiopia’s agricultural sector through large-scale commercial investment and the introduction of advanced agricultural technology. The SHA

February 18, 2025 • By Addis Insight

Business

Airbus signs Flight Hour Services contract for Ethiopian Airlines’ A350 fleet

Dubai, United Arab Emirates, 17 February 2025 – Airbus has signed a 7-year Flight Hour Services (FHS) contract with Ethiopian Airlines for the comprehensive maintenance of its fleet of 24 Airbus A350 aircraft, including both the A350-900 and A350-1000 models. This agreement will provide Ethiopian Airlines with dedicated on-site stock in Addis Ababa, access to

February 17, 2025 • By Addis Insight

Business

Ethiopia’s Debt Crisis: Why Investors and the IMF Are Clashing

Ethiopia is caught in a financial dispute between international investors and the International Monetary Fund (IMF). At the center of this issue is Ethiopia’s $1 billion bond—a loan it took from private investors but stopped repaying in 2023 due to economic struggles and a civil war. Now, Ethiopia is trying to renegotiate its debt, but

February 17, 2025 • By Addis Insight

Business

Ethiopia Set to Introduce New Passport and Visa System by End of the Month

Ethiopia is set to officially introduce a new passport and visa system by the end of the current Ethiopian month, Yekatit 2017 (February 2025), according to the Immigration and Citizenship Service. The revised passport, designed with advanced security features and enhanced aesthetics, will replace the existing version, while the visa system will also undergo a

February 16, 2025 • By Addis Insight