Business

Can Ethiopia Win the 2028 AFCON Bid? Inside the Nation’s Ambitious Stadium and Infrastructure Surge

The formal submission of Ethiopia’s bid to host the 2028 Africa Cup of Nations (AFCON) represents a definitive intersection of sporting ambition and a multi-dimensional national development agenda. This move, finalized by the Ethiopian Football Federation (EFF) on January 2, 2026, marks a significant acceleration of the country’s previous objective to host the 2029 edition.

January 31, 2026 • By Addis Insight

Business

Ethiopia Unveils Landmark Shebele Resort in Push for Regional Tourism Hub

Ethiopia officially inaugurated the Shebele Resort in the Somali Region on Saturday, marking a major milestone in Prime Minister Abiy Ahmed’s ambitious “Dine for Generation” (Gebeta Le Tewled) initiative. The ceremony, held in Jigjiga, was attended by Djibouti President Ismail Omar Guelleh and Somalia President Hassan Sheikh Mohamud, highlighting the project’s significance for regional diplomacy

January 31, 2026 • By Addis Insight

Business

Ethiopia Submits Official Bid to Host 2028 Africa Cup of Nations

The Ethiopian Football Federation (EFF) has formally submitted a bid to host the 2028 Africa Cup of Nations (AFCON), adjusting its long-term hosting ambitions following a major change to the tournament’s scheduling by the Confederation of African Football (CAF). Ethiopia had originally positioned itself as a candidate for the 2029 edition of the continent’s flagship

January 30, 2026 • By Addis Insight

Business

Safaricom Ethiopia Revenue Jumps Nearly 48% in Q3 FY26 as Data, Voice and M-PESA Surge

Addis Ababa, Jan 30, 2026 — Safaricom Ethiopia reported strong revenue growth in the third quarter of FY2026, signaling accelerating commercial traction in Africa’s second-most populous market, driven by rising data consumption, a rebound in voice services, and rapid expansion of M-PESA usage. Total revenue rose 47.9% year-on-year to KES 9.97 billion, up from KES

January 30, 2026 • By Addis Insight

Business

Ethiopia Pauses $1 Bln Eurobond Restructuring After Official Creditors Reject Terms

Addis Ababa, Ethiopia – January 30, 2026 — The Government of Ethiopia has announced a major setback in its ongoing sovereign debt restructuring process, with official creditors deeming the current Eurobond deal terms non-compliant with international fairness standards, stalling implementation of the plan agreed earlier this month. Official Creditors Push Back on Deal The Ministry

January 30, 2026 • By Addis Insight

Business

24 Betting-Fraud Suspects Released as Authorities Remain Silent on Case Status

Twenty-four individuals previously arrested in connection with a large-scale betting-related revenue fraud—estimated at over 100 billion birr—have been fully released from prison, according to information obtained by Addis Insight. Authorities, however, have not issued an official announcement or explanation regarding the releases, leaving the legal status of the case unclear. The individuals were initially detained

January 29, 2026 • By Addis Insight

Business

Ethio Telecom Customer Base Reaches 87.1 Million as Telebirr Transactions

Ethio Telecom has reported strong growth in its customer base and digital financial services, according to its six-month performance report for the 2018 fiscal year, presented to journalists on Tuesday. Speaking at the briefing, Ethio Telecom Chief Executive Officer Frehiwot Tamiru said the company has undertaken major infrastructure upgrades to support up to 108 million

January 29, 2026 • By Addis Insight

Business

Ethiopian Airlines Cancels Flights to Tigray Cities Without Official Explanation

ADDIS ABABA — Ethiopian Airlines has canceled all scheduled flights between Addis Ababa and multiple cities in Ethiopia’s Tigray region, disrupting passenger travel and raising questions amid the absence of an official explanation from the airline or government authorities. Passengers scheduled to travel on Thursday, January 21, 2018 (Ethiopian Calendar), reported receiving short text messages

January 29, 2026 • By Addis Insight

Business

National Bank of Ethiopia Launches Automated Interbank Trading FX Market Platform

Addis Ababa, Ethiopia — January 28, 2026 The National Bank of Ethiopia (NBE) has launched the country’s first Automated Interbank Foreign Exchange Market, a landmark move aimed at strengthening price transparency and accelerating Ethiopia’s broader macroeconomic and financial sector reforms. The new platform enables commercial banks to trade foreign currency through a real-time, market-based system,

January 28, 2026 • By Addis Insight

Business

Ethiopia Launches Automated Interbank FX Market in Major Step Toward Price Liberalization

Ethiopia has launched its first Automated Interbank Foreign Exchange Market, marking a significant milestone in the country’s ongoing macroeconomic reforms and efforts to modernize its financial sector. The National Bank of Ethiopia (NBE) announced that the new interbank foreign exchange trading platform has officially begun operations, enabling commercial banks to trade foreign currency through a

January 28, 2026 • By Addis Insight