Business

Ethiopia’s Banking Crossroads: Risks of Foreign Bank Entry Amid Domestic Fragility

Why Rushing Liberalization Could Undermine Local Banks and Widen Economic Inequality By Henok Gidey (BA, MBA, ACCA, CFIP), Finance Specialist Addis Ababa — The Governor of the National Bank of Ethiopia (NBE) recently announced that foreign banks will be allowed to operate in Ethiopia starting next year. While this bold move is part of Ethiopia’s

May 21, 2025 • By Addis Insight

Business

Ethiopia Sets $150K Minimum for Foreign Property Ownership, Bans Local Bank Loans

A new draft proclamation has been submitted to Ethiopia’s House of People’s Representatives, setting out strict regulations on foreign ownership of real estate and land for residential construction. The proposed legislation seeks to attract foreign investment while protecting the domestic financial sector. Among its key provisions is a clause prohibiting foreign nationals and foreign-owned entities

May 20, 2025 • By Addis Insight

Business

NBE Lifts Limit: Importers Can Now Make $50K Advance Payments

The National Bank of Ethiopia Introduces New Measures to Reform the Foreign Exchange Market The National Bank of Ethiopia (NBE) has announced the implementation of several reform measures aimed at improving the country’s foreign exchange market system. These reforms are intended not only to align Ethiopia’s foreign exchange market with international best practices but also

May 20, 2025 • By Addis Insight

Business

Africa at the Crossroads: A New Economic Dawn Fueled by Innovation, Diaspora Capital, and Bold Leadership

Interview with Lulite Ejigu, Chairperson of GRV and CEO & Managing Partner of Tevah Capital About Lulite Ejigu Lulite Ejigu brings a wealth of global financial expertise to her leadership at the Ethiopian Diaspora Trust Fund and currently serves as CEO & Managing Partner at Tevah Capital, a global advisory firm specializing in investment, capital

May 20, 2025 • By Addis Insight

Business

M-Pesa Lite Officially Launches in Ethiopia, Expanding Cross-Network Mobile Money Access

Addis Ababa – May 19, 2025 — Ethiopia has reached a major milestone in digital finance with the official launch of M-Pesa Lite, a streamlined version of the popular mobile money platform designed to enhance accessibility and financial inclusion across the country. The newly released M-Pesa for All app is now compatible with both Safaricom

May 19, 2025 • By Addis Insight

Business

Ethiopian Electric Power Opens $445 Million International Bid for Landmark 62-Story HQ

Addis Ababa, Ethiopia – May 19, 2025 – Ethiopian Electric Power (EEP) has launched an international pre-qualification process for the design and construction of a landmark 62-story headquarters in the heart of Addis Ababa, valued at an estimated $445 million. The mega project will rise in the city’s Mexican neighborhood, on a 20,792-square-meter plot within

May 19, 2025 • By Addis Insight

Business

Google’s NotebookLM Launches Amharic Support, Enhancing AI Accessibility in Ethiopia

In a significant stride towards inclusivity, Google has expanded its AI-powered note-taking assistant, NotebookLM, to support Amharic, Ethiopia’s official language. This development is part of a broader initiative to make advanced AI tools accessible to a more diverse global audience. NotebookLM, initially introduced as Project Tailwind, utilizes Google’s Gemini 1.5 Pro large language model to

May 16, 2025 • By Addis Insight

Business

Ethiopian Capital Market Authority Launches Probe into Unlicensed Fundraising Involving Ermias Amelga

The Ethiopian Capital Market Authority (ECMA) has initiated a formal investigation into alleged illegal fundraising activities involving well-known entrepreneur Ato Ermias Amelga and a company identified as Genesis Investment Services. In an official statement released this week, the Authority revealed that it has received multiple complaints regarding unauthorized public fundraising through the sale of securities.

May 7, 2025 • By Addis Insight

Business

National Bank of Ethiopia Sells USD at Average Rate of 132 Birr

Addis Ababa, May 7, 2025 — The National Bank of Ethiopia (NBE) sold U.S. dollars at an average exchange rate of 132.9643 birr during its most recent foreign currency auction held today, continuing its new auction-based approach to managing the country’s forex supply. According to the central bank, a total of 16 commercial banks participated

May 7, 2025 • By Addis Insight

Business

Ethiopia’s Hasab AI Launches Groundbreaking Voice Intelligence Platform for African Languages

Addis Ababa, Ethiopia — May 7, 2025 In a bold step toward tech inclusion and linguistic equity, Hasab AI, an Ethiopian startup co-founded by Kidus Yared, has officially launched a voice intelligence platform built specifically for low-resource and African languages. The announcement was made via LinkedIn, where Yared shared the team’s vision, technical breakthroughs, and

May 7, 2025 • By Addis Insight