Business

Feres Increases Fare by 30 Birr Following Ride’s Price Adjustment

Feres, a major ride-hailing service in Ethiopia, has raised its base fare from 100 birr to 130 birr, implementing a 30 birr price increase effective this week. This adjustment comes months after Ride, another leading ride-hailing platform, increased its base fare to 130 birr, making Feres one of the last major platforms to adopt the

March 19, 2025 • By Addis Insight

Business

Moody’s Keeps Ethiopia’s Low Credit Rating—What’s Next for the Economy?

Addis Ababa, March 14, 2025 – Moody’s Ratings has completed its periodic review of Ethiopia’s sovereign credit rating, maintaining its Caa3 foreign currency and Caa2 local currency issuer ratings. The assessment underscores Ethiopia’s ongoing financial struggles, particularly in managing its external debt burden, despite recent economic reforms and financial assistance from the International Monetary Fund

March 18, 2025 • By Addis Insight

Business

Ethiopian Airlines Expands VIP Charter Services with New Boeing 737-800 Business Jet

Addis Ababa, Ethiopia – March 17, 2025 – Ethiopian Airlines, Africa’s largest and most successful airline, has taken delivery of its first Boeing 737-800 Business Jet (BBJ), marking a strategic expansion into VIP and special charter services. The newly acquired aircraft will cater to high-profile business travelers, organizations, and individuals seeking premium charter services, particularly

March 17, 2025 • By Addis Insight

Business

5.5-Magnitude Earthquake Strikes Ethiopia’s Afar Region, Tremors Felt in Multiple Cities

A 5.5-magnitude earthquake struck Ethiopia’s Afar region on Sunday, March 7, according to the U.S. Geological Survey (USGS). The earthquake’s epicenter was located approximately 45 kilometers north of Awash city, a region known for its geological activity. The tremor, which occurred at a relatively shallow depth of 10 kilometers, was strong enough to be felt

March 17, 2025 • By Addis Insight

Business

Ethiopia Unveils $7.8 Billion Mega Airport in Bishoftu: A Game Changer for African Aviation

March 16, 2025 Ethiopia is set to redefine the future of air travel in Africa with its ambitious $7.8 billion Bishoftu Airport Hub. Ethiopian Airlines Group, Africa’s largest and most profitable airline, has unveiled plans for the new airport as it moves to alleviate mounting congestion at Addis Ababa’s Bole International Airport. The project, formally

March 16, 2025 • By Addis Insight

Business

Tensions Escalate in Mekele as Tigray Forces Seize Key Institutions Amid Political Crisis

Mekele, the capital of the Tigray region, witnessed a dramatic shift in political control on Thursday, March 3, 2017, as members of the Tigray Forces aligned with the TPLF faction led by Dr. Debretsion Gebremichael seized key government offices and media institutions. This power struggle between factions of the Tigray People’s Liberation Front (TPLF) underscores

March 14, 2025 • By Addis Insight

Business

Ethiopia’s Wheat Miracle: A Grand Vision or a Statistical Illusion?

Ethiopia has long been striving to transform its agricultural sector, and in recent years, Prime Minister Abiy Ahmed has championed a major push for wheat self-sufficiency. His government claims that the country, once synonymous with famine, has not only met its domestic wheat needs but is also exporting surplus grain. If true, this would represent

March 14, 2025 • By Addis Insight

Business

Ethio-Djibouti Railway Line Now Powered by a Dedicated Electrical Supply

Addis Ababa, March 4, 2017 (FMC) – The Ethiopian Electricity Service has announced the completion of a dedicated power line for the Ethio-Djibouti Railway, ensuring a stable and uninterrupted electricity supply for the critical transport corridor. The 39-million-birr infrastructure project was undertaken to address the persistent power disruptions that previously affected railway operations. The Ethio-Djibouti

March 13, 2025 • By Addis Insight

Business

Muyalogy Aims to Bridge Ethiopia’s Skills Gap with Digital Learning

Addis Ababa, Ethiopia – January 2025 A growing skills gap continues to challenge Ethiopia’s job market, leaving many graduates and job seekers struggling to find employment while industries face shortages of qualified professionals. In response, Muyalogy, an Ethiopian digital learning platform, is working to address this issue by providing accessible, skills-based education for a diverse

March 12, 2025 • By Addis Insight

Business

Investment Crisis in Ethiopia: Rising Costs and Uncertainty Drive Business Exodus

Amid shifting policies and persistent instability, investors in Ethiopia are grappling with significant challenges in managing their businesses, with many opting to migrate abroad in search of more favorable opportunities. In response, the Addis Ababa Investors Forum recently brought together key stakeholders, offering a platform for them to share their struggles and call for a

March 12, 2025 • By Addis Insight