Business

Forex Bureaus Pressed to Grow Amid NBE’s Branch Expansion Freeze, Fueling Currency Access Concerns

The establishment of forex bureaus in Ethiopia marks a pivotal moment in the nation’s transition to a market-based foreign currency exchange system. As the National Bank of Ethiopia (NBE) moves away from a decade-long fixed exchange rate regime, these bureaus represent a critical step toward afostering greater transparency and efficiency within the foreign exchange market.

February 24, 2025 • By Addis Insight

Business

From Stadiums to Substations: Engineer Getu Geremew’s Leadership Journey

Engineer Getu Geremew Soressa has been appointed as the CEO of Ethiopian Electric Service, bringing with him extensive experience in the energy sector and a notable contribution to Ethiopian athletics. Born in Inchini City, Oromia Region, Engineer Getu has built a distinguished career in both fields, demonstrating expertise in electrical engineering and renewable energy. At

February 23, 2025 • By Addis Insight

Business

Exness Expands Operations in Ethiopia with Amharic Language Support

Exness, a leading global forex and CFD trading platform, has announced the introduction of Amharic language support, making Ethiopia one of its latest focus markets. The move is part of the company’s broader strategy to expand its footprint in Africa, where online trading continues to gain popularity. The introduction of Amharic on the Exness trading

February 22, 2025 • By Addis Insight

Business

Unprecedented Methane Emissions from Mount Fentale Raise Questions About Ethiopia’s Natural Gas Potential

The recent detection of large-scale methane emissions from Mount Fentale, an active stratovolcano in Ethiopia’s Great Rift Valley, has sparked scientific interest not only due to its geological and climate implications but also for what it could mean for the region’s natural gas potential. Satellite measurements have confirmed an unusual release of methane, a gas

February 22, 2025 • By Addis Insight

Business

Efforts Underway to Revive Tana Beles Sugar Factory

The Tana Beles Sugar Factory, located between Ethiopia’s Amhara and Benishangul-Gumuz regions, is undergoing a major restructuring following months of operational disruptions and workforce departures. Over the past two months, more than 75% of the factory’s employees have left, primarily due to unpaid wages. Many of these workers have since sought alternative employment elsewhere, while

February 22, 2025 • By Addis Insight

Business

Zewditu Memorial Hospital Opens Ethiopia’s First Pediatric Neurosurgery Center

Addis Ababa, February 21, 2025 – Ethiopia has taken a significant step in specialized pediatric care with the inauguration of the country’s first dedicated Pediatric Neurosurgery Center at Zewditu Memorial Hospital. Equipped with cutting-edge medical technology, the center aims to transform the treatment of children in need of life-saving neurosurgical interventions. The center features state-of-the-art

February 21, 2025 • By Addis Insight

Business

Ethiopia Unveils Locally Manufactured Electronic Passport

Addis Ababa, Ethiopia – February 21, 2025 – Ethiopia has introduced its first electronic passport (E-passport) in a launch event held at the Science Museum in Addis Ababa. The new passport is expected to enhance security, streamline travel documentation, and modernize the country’s immigration system. The initiative is led by Immigration and Citizenship Services (ICS)

February 21, 2025 • By Addis Insight

Business

Yango Ride Introduces Comfort Class, Delivering Enhanced Ride-Hailing at an Affordable Price

Addis Ababa, Ethiopia – February , 2024 – Yango Ride, a ride-hailing service under the global tech company Yango Group, has introduced its new Comfort Class in Ethiopia. With a starting fare of just 100 birr, the new tariff offers passengers a premium travel experience designed to meet the evolving needs of local passengers. By

February 19, 2025 • By Addis Insight

Business

Ethiopia Set for Surge in Digital Payments Ecosystem: Visa Study Reveals Path to Accelerated Growth 

Addis Ababa, Ethiopia, February 13 2025:  Visa (NYSE: V), a global leader in payments, today announced the launch of a new report, ‘Value of Acceptance: Understanding the Digital Payment Landscape in Ethiopia.’ The report reveals rapid digital payment adoption among small and medium-sized enterprises (SMEs), with the vast majority recognizing the benefits for consumers.  The

February 19, 2025 • By Addis Insight

Business

Ethiopian Capital Market Authority Grants Securities Investment Advisor License to Ethio Capital Solutions PLC

Addis Ababa, Ethiopia – February 19, 2025 The Ethiopian Capital Market Authority (ECMA) has officially issued a Securities Investment Advisor License to Ethio Capital Solutions PLC, expanding the range of professional investment advisory services available in the country’s capital market. The move is part of ECMA’s broader effort to develop a well-regulated, transparent, and dynamic

February 19, 2025 • By Addis Insight