Business

Ethiopia Unveils $30 Billion Infrastructure Push, Including Nuclear Plant

Addis Ababa — Ethiopia is preparing to launch six large-scale infrastructure projects worth an estimated $30 billion, Prime Minister Abiy Ahmed said in a national address, underscoring the government’s push to expand energy production, refine oil domestically, and address urban housing shortages. The initiative includes a nuclear power plant, an oil refinery, a natural gas

September 9, 2025 • By Addis Insight

Business

EIB Global Partners with Ethiopian Banks to Unlock Climate Finance

The European Investment Bank’s development arm, EIB Global, has signed technical assistance agreements with Zemen Bank SC, Dashen Bank SC and Hibret Bank in Ethiopia that will support them in strengthening their ability to identify, assess, and manage climate-related risks, integrating them into their business strategies and daily operations. The banks will be better equipped

September 9, 2025 • By Addis Insight

Business

Lake Nigat: Africa’s Newest and Largest Man-Made Lake

When Ethiopia completed the Grand Ethiopian Renaissance Dam (GERD) this year, it didn’t just build Africa’s largest hydropower facility—it also gave birth to a vast, entirely new lake. Known as Lake Nigat, this reservoir is one of the largest artificial water bodies in the world, stretching 246 kilometers in length and holding up to 74

September 8, 2025 • By Addis Insight

Business

GERD to Generate $1 Billion a Year: Ethiopia’s Energy Ambition Realized

September 8, 2025 Ethiopia has formally completed the construction of the Grand Ethiopian Renaissance Dam (GERD), marking the conclusion of a 14-year national endeavor that has reshaped the country’s economic trajectory and regional influence. With an installed generation capacity of 5,150 megawatts (MW) and an expected annual output of 15,700 gigawatt-hours (GWh), the GERD is

September 8, 2025 • By Addis Insight

Business

Addis Ababa Witnesses Rare Blood Moon

Addis Ababa, Ethiopia — On Sunday night, the Ethiopian capital looked skyward as a rare astronomical drama unfolded. The full moon, usually a silver sentinel above the highlands, turned an otherworldly crimson. The phenomenon, known as a blood moon, is the result of a total lunar eclipse — a celestial alignment of the Sun, Earth,

September 7, 2025 • By Addis Insight

Business

Who’s Coming for GERD Inauguration? 10+ African-Caribbean Leaders Expected

Ethiopia’s GERD Inauguration Puts Guba on the Diplomatic Map — and to the Test Addis Ababa / Guba, Benishangul-Gumuz — Ethiopia’s government is preparing for the most high-stakes event in its recent history: the official inauguration of the Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile. The ceremony, planned for Tuesday in Guba, Benishangul-Gumuz,

September 7, 2025 • By Addis Insight

Business

60 Years, 6 Dams: How Salini Built Ethiopia’s Hydro Legacy

Salini’s Enduring Legacy: Six Dams That Reshaped Ethiopia’s Water and Power Landscape Introduction: An Ethio-Italian Saga Forged in Concrete and Water For more than sixty years, one Italian company has stood at the heart of Ethiopia’s transformation into the “Water Tower of Africa.” Salini Costruttori—today Webuild—is not merely a foreign contractor. Across four political regimes,

September 6, 2025 • By Addis Insight

Business

Why the U.S. Embassy’s Tribute Insults Ethiopians

Introduction: A Tale of Two Ethiopias In the quiet halls of Addis Ababa’s diplomatic quarter, Ethiopia’s economic story is being retold in glowing terms. When the U.S. Embassy issued a farewell tribute to Mamo Mihretu, the outgoing Governor of the National Bank of Ethiopia (NBE), it was not just a polite send-off. It was a

September 5, 2025 • By Addis Insight

Business

Ethiopian Banks Dangle Up to 10 Birr-per-Dollar Bonuses in New Year FX Race

Addis Ababa — Ethiopia’s banking sector has turned the upcoming Enkutatash holiday into a high-stakes currency competition, with banks rolling out headline-grabbing promotions — some offering fixed Birr bonuses per dollar, others floating percentage uplifts — to capture diaspora remittances and festive FX flows. The Context: Why Enkutatash Triggers an FX Bidding War The Offers:

September 5, 2025 • By Addis Insight

Business

Addis Ababa Inaugurates 5th Corridor Development Project

Addis Ababa’s ongoing urban transformation marked another milestone today with the inauguration of the 5th corridor development project of the second round, officially opened in the presence of Prime Minister Dr. Abiy Ahmed. The project, which stretches across some of the city’s most iconic and densely used areas, reflects Ethiopia’s broader ambition to create a

September 4, 2025 • By Addis Insight