Business

Adey Ababa Stadium to Be Fully Completed with 19 Billion Birr Investment

Addis Ababa – March 31, 2025 In a groundbreaking development for Ethiopia’s sports infrastructure, the Ministry of Culture and Sports has officially signed a contract worth 19 billion birr to fully complete the Adey Ababa Stadium, one of the country’s most anticipated national projects. The agreement was signed today between the Ministry, represented by Minister

March 31, 2025 • By Addis Insight

Business

Foreign Banks Can Now Enter Ethiopia—But It’ll Cost 5 Billion Birr

Foreign Banks Welcome, But on Strict Terms: Ethiopia’s Central Bank Issues Landmark Directive Reshaping Banking Sector Addis Ababa, Ethiopia — March 31, 2025 The National Bank of Ethiopia (NBE) has unveiled a sweeping new directive titled “Requirements for Licensing and Renewal of Banking Business and Representative Office Directive No. SBB/XX/2025”, marking a historic shift in

March 31, 2025 • By Addis Insight

Business

Ethiopia’s Koysha Hydropower Dam Reaches 65% Completion

Ethiopia’s bold push toward energy self-sufficiency and regional power exportation continues with major progress on the Koysha Hydropower Dam, now 65% complete as of March 2025. Located in South West Ethiopia on the Omo River, the Koysha project is one of the country’s largest and most ambitious energy undertakings to date, with an expected capacity

March 27, 2025 • By Addis Insight

Business

Ethiopian Airlines Partners with Archer Aviation to Launch Electric Air Taxi Network in Africa

ADDIS ABABA, March 27, 2025 — Ethiopian Airlines, Africa’s largest carrier and a Star Alliance member, has entered into a groundbreaking agreement with Archer Aviation (NYSE: ACHR) to deploy Archer’s electric vertical takeoff and landing (eVTOL) aircraft, Midnight, under Archer’s recently announced “Launch Edition” program. The deal is valued at up to $30 million. The

March 27, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Launches MasterCard Payment System to Boost Digital Transaction

In a significant step toward enhancing the country’s digital financial infrastructure, the Commercial Bank of Ethiopia (CBE) has officially launched a MasterCard payment system in collaboration with the global payments giant, MasterCard. According to the bank, the newly introduced system is expected to play a pivotal role in advancing digital payment services across Ethiopia. It

March 27, 2025 • By Addis Insight

Business

MIDROC Ethiopia Expands Fleet with New Modern Aircraft

Addis Ababa, Ethiopia – March 24, 2025 MIDROC Ethiopia has added a new modern aircraft to its fleet, expanding its operational capacity in the mining and agricultural sectors. The aircraft, a Cessna Caravan X, was received today at Bole International Airport at a cost of $3.6 million, according to company officials. Speaking to ABC News,

March 24, 2025 • By Addis Insight

Business

Ethiopia Adjusts Fuel Prices Amid Global Market Pressure and Domestic Budget Realignments

Addis Ababa, March 23, 2025 — The Ministry of Trade and Regional Integration has revised fuel prices across the country, effective March 21, 2025 (Megabit 12, 2017 E.C.), citing global oil market volatility and the need to stabilize local fuel supply chains. The adjustments reflect Ethiopia’s continued efforts to reconcile international energy costs with domestic

March 23, 2025 • By Addis Insight

Business

Zemedeneh Nigatu Appointed CEO of Newly Licensed CBE Capital

Zemedeneh Nigatu, a seasoned Ethiopian-American investment advisor, has been appointed the founding Chief Executive Officer of CBE Capital S.C., following the company’s receipt of an investment banking license from the Ethiopian Capital Markets Authority (ECMA) on March 21. The license makes CBE Capital one of the country’s first officially recognized investment banks. The same day

March 23, 2025 • By Addis Insight

Business

How Investment Banks Will Unlock New Opportunities for Ethiopian Entrepreneurs

Ethiopia’s historic decision to allow investment banks in the country is a significant move that has the potential to transform its business landscape and foster economic growth. By opening up the financial sector to investment banks, Ethiopia will create a more robust and diverse financial environment, enabling businesses to access capital more efficiently, enhance corporate

March 21, 2025 • By Addis Insight

Business

Ethiopian Capital Market Authority Licenses Five New Service Providers,

Addis Ababa, Ethiopia – The Ethiopian Capital Market Authority (ECMA) marked a major milestone in the country’s financial development by granting licenses to five new capital market service providers (CMSPs) on March 21, 2025. This event increases the number of licensed CMSPs from four to nine, signaling a significant expansion in Ethiopia’s capital markets. The

March 21, 2025 • By Addis Insight