Business

Ethiopia Proposes 1.93 Trillion Birr Budget for 2018 Fiscal Year

Addis Ababa — The Ethiopian federal government has presented a draft national budget of 1.93 trillion birr for the 2018 Ethiopian fiscal year, Finance Minister Ahmed Shide announced during a parliamentary session with the House of People’s Representatives. According to the breakdown of the proposed budget: Minister Ahmed stated that 1 trillion birr, or 73%

June 10, 2025 • By Addis Insight

Business

Dangote Reaffirms Investment Commitment in Ethiopia After Meeting with PM Abiy

Dangote Group Signals Renewed Commitment to Ethiopia’s Industrial Growth Following High-Level Meeting with PM Abiy Ahmed Addis Ababa, Ethiopia – June 7, 2025 In a major show of confidence in Ethiopia’s economic potential, Aliko Dangote, Africa’s richest man and Chairman of the Dangote Group, met with Prime Minister Abiy Ahmed today in Addis Ababa. The

June 7, 2025 • By Addis Insight

Business

Jaquar Group Opens Flagship Bath & Light Showroom in Ethiopia, Reinforcing Commitment to Innovation and Skills Development

“Jaquar is investing in community upliftment through professional training initiatives and certification programs aimed at building a skilled workforce.” Addis Ababa, Ethiopia – June 5, 2025 – Jaquar Group, a global leader in complete bathroom and lighting solutions, proudly announces the opening of its flagship showroom in Ethiopia. Located on the 1st floor of the

June 5, 2025 • By Addis Insight

Business

Ethiopia’s Birr Falls to 134.95 in Latest Foreign Exchange Auction as NBE Continues Biweekly Adjustments

June 5, 2025 – Addis Ababa The Ethiopian Birr fell to a new low of 134.9519 per U.S. dollar in Thursday’s foreign exchange auction, marking a continued slide in the local currency as the central bank faces growing pressure to manage dwindling reserves and rising demand. The National Bank of Ethiopia (NBE) announced that 12

June 5, 2025 • By Addis Insight

Business

Ethiopia Proposes Record ETB 2 Trillion Federal Budget for 2025/26 Fiscal Year

In a landmark move signaling the government’s commitment to economic transformation, Ethiopia’s Council of Ministers has approved a historic draft federal budget of nearly ETB 2 trillion (approximately $35 billion USD) for the 2025/2026 fiscal year. This record-breaking budget—the largest in the country’s history—has now been submitted to the House of People’s Representatives (HoPR) for

June 5, 2025 • By Addis Insight

Business

Ethiopia Enacts Landmark Startup Proclamation to Boost Innovation and Youth-Led Enterprises

Addis Ababa, June 5, 2025 — Ethiopia has taken a significant step toward fostering a vibrant startup ecosystem with the official endorsement of its first-ever Startup Proclamation. The new legal framework, announced by the Office of the Prime Minister, is aimed at creating a favorable environment for innovation-driven enterprises, particularly those led by youth, while

June 5, 2025 • By Addis Insight

Business

Ethiopia Introduces Sweeping Tax Reforms Targeting Digital Creators, Consultants, and High Earners

Addis Ababa – June 4, 2025 The Ethiopian government has tabled a comprehensive amendment to its federal income tax proclamation, signaling a major shift in the country’s fiscal framework to align with digital economy realities and bolster domestic revenue mobilization. The newly proposed changes, referenced as the “Income Tax Amendment Proclamation /2017,” were submitted to

June 4, 2025 • By Addis Insight

Business

Wegagen Capital Investment Bank Becomes Ethiopia’s First Private Investment Bank

Addis Ababa, June 4, 2025 – In a landmark development for Ethiopia’s emerging financial sector, Wegagen Capital Investment Bank S.C. has officially launched operations, becoming the country’s first private investment bank. The announcement was made during a high-profile inauguration event held at the Hilton Hotel in Addis Ababa, attended by key figures from government institutions,

June 4, 2025 • By Addis Insight

Business

Addis International Bank Unveils New Identity as “Addis Bank,”

Addis Ababa, Ethiopia – In a significant milestone marking its evolution and ambitions for the future, Addis International Bank has officially rebranded as “Addis Bank”, unveiling a new name, logo, and corporate motto: “Trusted for Your Success.” The announcement was made during a formal launch event held in Addis Ababa this evening, attended by senior

June 4, 2025 • By Addis Insight

Business

Store251 Launches New Website and App to Enhance the Ethiopian Shopping Experience

Addis Ababa, Ethiopia – May 30, 2025 – Store251, an online shopping platform based in Addis Ababa, is excited to announce the launch of its newly developed mobile application and website, introducing a more user-friendly, and rewarding way to explore and shop Ethiopian-made products. The launch will be held on May 30th at Atlas Store251,

June 3, 2025 • By Addis Insight