Business

National Bank of Ethiopia Urges Local Banks to Brace for Foreign Competition

“Many Foreign Banks Are Applying for Licenses,” Says Governor Mamo Mihret The Governor of the National Bank of Ethiopia (NBE), Mamo Mihret, has called on domestic banks to step up their preparedness as Ethiopia’s banking sector inches closer to opening its doors to foreign competitors. His remarks come at a time when a growing number

August 1, 2025 • By Addis Insight

Business

Addis Ababa’s Arat Kilo Plaza Emerges as a Modern Urban Landmark

Innovative and People-Centered Projects Take Shape in Addis Ababa Addis Ababa Mayor Adanech Abebe has reaffirmed the city administration’s commitment to advancing inclusive and participatory development. She emphasized that the capital is rapidly implementing innovative, people-centered projects designed to meet the needs of its residents. In a recent ceremony, Mayor Adanech inaugurated 73 new shopping

August 1, 2025 • By Addis Insight

Business

Ethiopian Airlines Unveils World-Class Passenger Terminal in Kombolcha

Ethiopian Airlines has officially inaugurated a brand-new, state-of-the-art passenger terminal and associated support facilities at Kombolcha Airport in the Wollo region. The inauguration ceremony took place in the presence of His Excellency Arega Kebede, President of the Amhara Regional State, alongside other high-ranking government officials and Ethiopian Airlines Group CEO, Mr. Mesfin Tasew. The multimillion-euro

August 1, 2025 • By Addis Insight

Business

Telebirr Lent 13.2 Billion Birr in One Year—but Borrowers Say They’re Paying the Price

Telebirr recently announced it has disbursed more than 25.8 billion ETB in digital microloans to over 11.9 million customers since its 2021 launch. Developed by Ethio Telecom in partnership with Dashen Bank, the Commercial Bank of Ethiopia, and Sinqe Bank, the platform has also mobilized 24.6 billion ETB in digital savings from 3.9 million users

August 1, 2025 • By Addis Insight

Business

Ethiopia’s Central Bank Celebrates One Year of Sweeping Reforms as Economy Enters New Era

By Addis Insight Staff | July 29, 2025 – Addis Ababa Ethiopia’s central bank marked the one-year anniversary of its historic macroeconomic reform program on Monday, touting significant progress on inflation control, foreign exchange inflows, and banking sector modernization—milestones the government hopes will anchor long-term stability in Africa’s second-most populous nation. The reform package, introduced

July 31, 2025 • By Addis Insight

Business

Introducing the Eight: Ethiopia’s First Licensed Capital Market Players

By Addis Insight | July 2025 In a significant move towards building a vibrant and regulated capital market, Ethiopia’s nascent financial sector witnessed a historic milestone as the Ethiopian Capital Market Authority (ECMA) officially authorized a set of capital market service providers. The announcement marks a crucial step in operationalizing the Ethiopia Securities Exchange (ESX),

July 30, 2025 • By Addis Insight

Business

Ethiopia’s Macro Reforms at One: NBE Highlights Progress and Path Ahead

A year after launching a sweeping package of macroeconomic reforms, the National Bank of Ethiopia (NBE) is touting major strides in modernizing Ethiopia’s monetary, exchange rate, and financial systems. The reforms, which began on July 29, 2024, under the Home-Grown Economic Reform agenda, mark a decisive shift toward market-oriented policy frameworks aimed at stabilizing the

July 30, 2025 • By Addis Insight

Business

Ethiopia’s Parallel Forex Rate Surges to 174 ETB, Testing Government Reforms

Ethiopia’s parallel forex market continues to spiral upward, with the exchange rate hitting a staggering 174 ETB per USD—a sharp rise from 160 ETB just weeks ago and a significant jump from the official rates. This widening gap highlights the deepening strain on the government’s reform agenda and foreign exchange market liberalization efforts. Reform Momentum

July 29, 2025 • By Addis Insight

Business

Asset Recovery Proclamation No. 1364/2025 Published in the Federal Negarit Gazette

ADDIS ABABA – The Federal Democratic Republic of Ethiopia has instituted a comprehensive new legal framework, the Asset Recovery Proclamation No. 1364/2025, aimed at combating economic crime and recovering illicitly obtained assets. Published in the Federal Negarit Gazette on May 2, 2025, the law introduces powerful new measures, including the confiscation of “unexplained assets” and

July 29, 2025 • By Addis Insight

Business

Abyssinia Bank Launches Paperless Banking Service Across All Branches

Abyssinia Bank has officially launched its new paperless banking service at its newly established Ras Special Branch. The inauguration was attended by the Governor of the National Bank of Ethiopia, Ato Mamo Mehret, the CEO of Abyssinia Bank, Ato Bekalu Zeleke, along with senior executives, employees, and invited guests. This new system allows customers to

July 27, 2025 • By Addis Insight