Business

Ethiopian Airlines signed partnership with Israel Aerospace Industries (IAI)

Ethiopian Airlines signed an agreement with Israel Aerospace Industries (IAI) to set up a conversion center in Addis Ababa. The new IAI facility will serve as an extension of Ethiopian’s MRO center, allowing it to convert Boeing 767-300 airliners into cargo aircraft. According to IAI’s press release, the new site is going to become the

June 4, 2022 • By Addis Insight

Business

Ministry of Mines Inaugurated State of The Art Gallery

Ethiopian Mining Gallery inaugurated by the Ministry of Mines.Members of the diplomatic community, industry and investors, as well as senior government officials, including German Ambassador Stephen Urn, attended the graduation ceremony. State Minister of Mines Million Matthews said mining is a major growth option. He said the gallery, which will be open to the public

June 4, 2022 • By Addis Insight

Business

Bethlehem Tilahun Inducted into the Global Business Hall of Fame

Bethlehem founded soleRebels when she saw skilled artisans in her community in Zenebework living with chronic unemployment. soleRebels allows them to showcase their skills and provides sustainable jobs. Since it opened in 2005, soleRebels has flourished. The company has grown to 300 employees in Ethiopia, and products are distributed to 30 countries worldwide, including through

June 4, 2022 • By Addis Insight

Business

Private commercial banks are charging up to 30 Birr per US dollar to allow foreign exchange

Private commercial banks are charging up to 30 Birr per US dollar to allow foreign exchange for their importing customers, according to Wazema Radio. According to the importers , the official sale price of one US dollar is 52 birr to 64 cents to be approved by foreign commercial banks. The sale of foreign exchange

June 3, 2022 • By Addis Insight

Business

NBE unsuspended Cashgo & Mama’s Pay Remittance Apps

Digital remittance applications that have been suspended for almost 3 months by order of the National Bank are about to be launched. Apps Cashgo and Mama Pay, which are operated by the Bank of Abyssinia, have been suspended due to non-compliance. “Cashgo” is produced by Solgett, and Mama Pays is produced by Bell Cash. Sources

June 2, 2022 • By Addis Insight

Business

Ethiopian Airlines Increases Presence in India, Expands Cargo Fleet

On July 2, Ethiopian Airlines will commence twice-weekly flight operations to Chennai, India — which will join the vast Ethiopian network as the fourth destination in India after New Delhi, Mumbai, and Bengaluru, India. Ethiopian started its service to India with a debut flight to New Delhi in 1966 — just 20 years after the

June 1, 2022 • By Addis Insight

Business

Ethiopia to receive $200 million financial assistance from World Bank: official

Ethiopia is set to receive 200 million U.S. dollars in financial assistance from the World Bank, an Ethiopian official said Wednesday. “The funds will be used to build skilled manpower and boost the capacity of state-owned technical and vocational training institutes,” Ethiopian Minister of Labor and Skills Development Muferiat Kamil said in a Facebook post.

June 1, 2022 • By Addis Insight

Business

Ethiopian to connect Washington with Lomé, Togo

Ethiopian Airlines has announced it will commence thrice-weekly passenger service to Washington Dulles via Lomé, Togo as of today, June 1, 2022. The new flight increases the frequency of Ethiopian Airlines’ flights to Washington DC to 10 from the existing seven weekly flights it operates via Dublin. The new flight is operated with Boeing 787-8

June 1, 2022 • By Addis Insight

Business

Coca-Cola Beverages Inaugurates a 100 million USD bottling plant at Sebeta

Sebeta, Ethiopia, May 31 – A new US$100 million Coca-Cola bottling plant at Sebeta in Ethiopia is set to unlock export opportunities, increase local production and ease foreign exchange constraints as it adds 500 employees to the workforce of Coca-Cola Beverages Africa (CCBA) in the country. The inauguration of the Sebeta Dima Coca-Cola factory was attended

May 31, 2022 • By Addis Insight

Business

CBE lost 1 billion birr due to fraud

According to a new survey conducted by the Ministry of Justice, banks have lost 1.8 billion birr due to fraud in the last four years. The results of the new study were unveiled during an event now taking place at the Sheraton Addis Hotel. It disclosed that 50.7 percent of the looting took place at

May 30, 2022 • By Addis Insight