Business

Ethiopia’s Coffee Exports Hit $268 Million in July Despite Lower Volumes

Addis Ababa – Ethiopia, Africa’s largest coffee producer and the birthplace of Arabica beans, earned $268 million in export revenues from coffee in July, according to the Ethiopian Coffee and Tea Authority. Revenue Surge Amid Decline in Volume Public Relations and Communications Director Sahlemariam Gebremedhin revealed that the country had planned to export 53,480 tons

August 26, 2025 • By Addis Insight

Business

Ethio Telecom Targets 88 Million Subscribers with Ambitious Three-Year Strategy

Addis Ababa – Ethio Telecom has announced an ambitious plan to increase its subscriber base to 88 million in the current fiscal year, up from 83.2 million, as part of a sweeping three-year “Next-Generation Strategy” designed to accelerate Ethiopia’s digital transformation. The plan, unveiled alongside the company’s 2018 Ethiopian fiscal year work program, was presented

August 26, 2025 • By Addis Insight

Business

Enat Bank Wins Women Empowerment Award as It Expands Growth Strategy

Addis Ababa, Aug 13 (Addis Insight) – Enat Bank has been named the winner of the Excellence in Women Empowerment Award at the 23rd Connected Banking Summit – Innovation & Excellence Awards 2025, hosted by the International Center for Strategic Alliances (ICSA). The award recognizes the bank’s pioneering role in advancing women’s access to finance

August 26, 2025 • By Addis Insight

Business

Federal Housing Corporation Posts 9.34B Birr Earnings, Surpassing Targets

Ethiopian Investment Holdings (EIH) has launched a review of the Federal Housing Corporation (FHC), following a year of record-breaking results and renewed ambitions for the state-owned enterprise. In the past fiscal year, the FHC achieved 9.34 billion birr in revenue, which is 155% of its provisional annual target—a remarkable over-performance that underscores the growing role

August 25, 2025 • By Addis Insight

Business

Security Forces Cancel Ashenda and Shadey Festivals in Addis Ababa Without Explanation

Ashenda, Shadey, and Solel: A Celebration of Womanhood in EthiopiaAshenda, Shadey, and Solel are regional names for a cherished annual festival in Ethiopia dedicated to celebrating girls and young women. Rooted in Orthodox Tewahedo traditions and cultural heritage, the festival is a vibrant display of music, dance, and community spirit. It is one of the

August 25, 2025 • By Addis Insight

Business

Ethiopia’s Largest Gold Mine Set to Launch in 2026

Ethiopia is on the verge of becoming one of Africa’s newest large-scale gold producers with the launch of the Kurmuk Gold Mine Project in Benishangul-Gumuz. Backed by an investment of around $500 million, the project is set to deliver first gold by mid-2026 and could dramatically reshape Ethiopia’s mining landscape. A Game-Changer for Ethiopia Kurmuk

August 24, 2025 • By Addis Insight

Business

Ethiopia Pauses Plan to Sell 35% of Ethio Telecom Shares

The Ethiopian government has shelved its plan to sell 35% of Ethio Telecom to foreign investors, stalling a key step in the country’s much-publicized economic reform program. According to sources, the share sale will not take place in the near future. Authorities are also reassessing how potential domestic shareholding might influence future privatization. For now,

August 24, 2025 • By Addis Insight

Business

Ethiopian Airlines Expands Nigeria Operations with 33 Weekly Flights

Adds New Evening Service from Abuja Starting October 28 Ethiopian Airlines is ramping up its Nigeria operations with three additional weekly evening flights from Abuja, bringing its total to 33 weekly flights across the country. The new schedule begins October 28, 2025, and will increase Abuja services to 10 flights per week. According to Firiehiwot

August 22, 2025 • By Addis Insight

Business

Businesses Warn USD Shortages Threaten Operations Despite Bank Allocations

Despite Ethiopian banks nearly doubling foreign currency allocations compared to last year, businesses continue to face severe U.S. dollar shortages that threaten daily operations and investment plans. Earlier this week, most commercial banks reported stronger allocations. Awash Bank earmarked $110 million for August, while Dashen Bank disbursed $11 million in the first six days. On

August 21, 2025 • By Addis Insight

Business

Telebirr Transactions Reach 2.38 Trillion Birr as Ethio Telecom Revenue Jumps 72% in 2017 EFY

Ethiopian Investment Holdings (EIH) opened its 2017 Ethiopian fiscal year (EFY) annual performance dialogue with a detailed review of Ethio Telecom’s impressive results, spotlighting the state-owned operator’s strong growth and expanding role in the country’s digital economy. Strong Operational and Financial Growth Ethio Telecom delivered solid year-on-year performance, underlined by a 6% increase in subscriptions

August 21, 2025 • By Addis Insight