Society

Ethiopia Becomes the World’s 10th Most Populous Nation

Ethiopia’s population in 2024 is estimated at approximately 133 million, making it the second-most populous country in Africa after Nigeria, according to Worldometer. The nation accounts for about 1.62% of the world’s total population, positioning it as the 10th most populous country globally. Its rapid population growth, urbanization, and predominantly youthful demographic present both opportunities

October 21, 2024 • By Addis Insight

Africa News

Africa Hall Reopens After $57M Makeover: Honoring the Birthplace of African Unity

Addis Ababa – The historic Africa Hall, a monumental site in the annals of African history, will be officially reopened today following an extensive renovation. This iconic hall is where the leaders of 32 African nations gathered in 1963 to establish the Organization of African Unity (OAU), the precursor to today’s African Union (AU). The

October 21, 2024 • By Addis Insight

Business

Ethiopia’s Betting Ban: Physical Shops Shutter, but Digital Doors Open

Ethiopia’s ambitious crackdown on sports betting, which saw over 6,000 betting shops shut down across Addis Ababa and other cities, has been in effect for some time now. This effort has led many to abandon betting, easing some of the related social issues. While the physical outlets may have closed, the betting culture remains resilient,

October 21, 2024 • By Addis Insight

Business

New Salary Scale to Take Effect Nationwide Starting October, Says Finance Minister Ahmed Shide

Ahmed Shide, the Minister of Finance, has announced that October salary payments will commence using the newly revised pay scale. “The new salary structure, effective from October, has been approved by the cabinet. Over the past few weeks, the Ministry of Finance and the Civil Service Commission have completed the necessary preparations, including the implementation

October 19, 2024 • By Addis Insight

Business

Ethio Foreign Exchange Bureau Goes Operational: A New Era in Currency Trade

Unveiling Ethiopia’s First Independent Forex BureausThe National Bank of Ethiopia (NBE) has recently granted operational licenses to five new independent foreign exchange bureaus, marking a significant development in the country’s financial landscape. This milestone marks a crucial step in the country’s transition to a market-based exchange regime, following the recent floatation of the Ethiopian birr.

October 19, 2024 • By Addis Insight

Business

Ministry of Finance Greenlights Entry of Fuel Vehicles Stuck at Djibouti and Dire Dawa Ports

Addis Ababa, October 19, 2024 – The Federal Democratic Republic of Ethiopia’s Ministry of Finance, in collaboration with the Customs Commission, has issued a new directive regarding the import of fuel-powered vehicles stored at Djibouti and Dire Dawa Dry Port. The directive is aimed at resolving the issue of vehicles that have been restricted from

October 19, 2024 • By Addis Insight

Politics

Devastating Drone Strikes in North Gojam: Over 100 Civilians Killed, Eyewitnesses Say

Gerchich (Mehal Genat), a city in the South Mecha district of Ethiopia’s North Gojam Zone, has become a focal point of intense conflict and devastation since early October 2024. Eyewitnesses and residents, speaking with the BBC, have reported that a series of drone strikes allegedly carried out by government forces have resulted in the deaths

October 19, 2024 • By Addis Insight

Business

Zemen Bank Achieves Record 3.77 Billion Birr Profit Amid Economic Challenges

Zemen Bank has reported a significant profit of 3.77 billion birr for the 2023 fiscal year, marking a milestone achievement in its 16th Annual General Meeting. The bank’s president, Dereje Zebene, highlighted the performance, emphasizing the bank’s growth amidst a challenging economic environment. The profit per share for shareholders stood at an impressive 37.6%, reflecting

October 19, 2024 • By Addis Insight

Business

Cameroonian Prof. Kelly Kingly Succeeds Ethiopian Dr. Yohannes Biru  as  ATIDI’s  New Board Chairman

·       At its recently concluded Board Meeting, Professor Kelly Mua Kingsley was elected as the new Chair of the Board and Ms. Christina Westholm- Schröder was elected as the new Vice Chair of the Board. ·       ATIDI was recently upgraded by Moody’s from A3/Positive to A2/Stable – while S&P affirmed its A/Stable rating, reflecting the organization’s strong

October 18, 2024 • By Addis Insight

Business

Navigating Dubai’s Real Estate Market: Insights from Ethiopian Property Consultant Samrawit A. Kassaye

As an Ethiopian who has successfully transitioned into Dubai’s highly competitive real estate industry, Samrawit A. Kassaye offers a unique perspective on navigating this dynamic market. With a passion for real estate sparked at a young age, Samrawit’s career journey is an inspiring tale of perseverance, strategic thinking, and deep industry knowledge. Her insights into

October 18, 2024 • By Addis Insight