Business

National Bank of Ethiopia Launches Platform for Customer Complaints

Addis Ababa, Ethiopia The National Bank of Ethiopia (NBE) has introduced an online platform and a dedicated hotline (7230) to assist customers in lodging complaints against financial institutions. This initiative reflects NBE’s commitment to addressing common issues in the financial sector, such as aggressive sales practices, deceptive advertising, and inadequate transparency, as detailed in a

December 20, 2024 • By Addis Insight

Business

Behind the Fintech Boom: Ethiopian Fintech’s Untold Challenges

Ethiopia’s Financial Technology (fintech) sector is on a promising upward trajectory, driven by innovative products and a growing appetite for digital solutions. Mobile wallets, online banking, and digital payment platforms are transforming the way people transact, making financial services more accessible than ever before. From peer-to-peer transfers to bill payments, fintech is reshaping how individuals

December 19, 2024 • By Addis Insight

Africa News

Ethiopian Cargo Expands Fleet with Two Boeing 767 Freighters to Meet Growing Demand

Addis Ababa, — Ethiopian Cargo and Logistics Services has announced the addition of two Boeing 767 freighters, ET-BBE and ET-BBF, to its growing fleet. This move marks a significant enhancement in the airline’s capacity to meet the surging global demand for air cargo services. With the addition of the two aircraft, Ethiopian Cargo now

December 17, 2024 • By Addis Insight

Business

Digital Money Transfers Surpass Cash Transactions in Ethiopia, Says National Bank Governor

On December 17, 2024, the Governor of the National Bank of Ethiopia (NBE), Mamo Miheret, addressed the House of People’s Representatives, highlighting the increasing digitization of the country’s financial system. According to his statement, digital money transfers facilitated by banks have now exceeded cash transactions this year. Governor Mamo noted that Ethiopia’s banking activities are

December 17, 2024 • By Addis Insight

Business

Ethiopian Airlines Celebrates Air Congo’s Launch Tomorrow as Second Boeing 737 Lands in Kinshasa

Kinshasa, DR Congo – Ethiopian Airlines, Africa’s largest carrier, is ushering in a new era of aviation with the launch of Air Congo, a joint venture with the Democratic Republic of Congo (DRC). The airline’s second Boeing 737-800 touched down at Kinshasa International Airport yesterday, signaling the final preparations for Air Congo’s official debut. The

December 15, 2024 • By Addis Insight

Business

East Africa Electric Highway Begins Trial Supply from Ethiopia to Tanzania

The East Africa Electric Highway project, a pivotal power infrastructure initiative among Ethiopia, Kenya, and Tanzania, has entered a new phase with the official commencement of trial power supply from Kenya to Tanzania. This achievement builds on Ethiopia’s broader ambition to establish itself as a renewable energy hub in East Africa. Key Developments in the

December 15, 2024 • By Addis Insight

Business

Addis Ababa Mandates Full Nighttime Lighting on Main Roads

The Addis Ababa City Administration Cabinet held its 4th regular meeting today, during which several important decisions were discussed and approved to improve services and city management. Key Resolutions: A regulation aimed at preventing pollution in rivers and along riverbanks has been approved. This measure is intended to benefit public health and enhance the city’s

December 14, 2024 • By Addis Insight

Business

Ethiopian Securities Exchange to Launch in January

The Ethiopian Securities Exchange (ESX) has announced its official launch, scheduled for January 2024. According to Dr. Tilahun Ismail, the institution’s CEO, the ESX has been undertaking extensive preparatory activities over the past year to bring this initiative to fruition. Yodit Kassa, Chief Business Development Officer of the ESX, highlighted the development of a digital

December 13, 2024 • By Addis Insight

Business

Ethiopia Startup Data Hub Launched: A Game-Changer for Startups and Investors

A new open-access data platform has been launched in Ethiopia, offering a centralized hub for insights into the country’s startup ecosystem. Developed in partnership with the Ministry of Innovation and Technology, Systemic Innovation, GrowthAfrica, and Dealroom.co, and funded by the FCDO through The RISA Fund, this platform is designed to transform how stakeholders access and

December 13, 2024 • By Addis Insight

Business

From ETB 2,900 to 1,500: How Lemi National Cement is Transforming Ethiopia’s Cement Market

When the Ethiopian government lifted the ban on foreign direct investment (FDI) in 2020, it was a clear step toward realizing its vision of industrial growth and self-reliance. This move has given a boost to the cement sector, which has become a vital part of Ethiopia’s rapid urbanization and ambitious infrastructure projects. From roads to

December 13, 2024 • By Addis Insight