Business

Foreign banks who wants to operate in Ethiopia must partner with Local banks

Foreign banks seeking to operate in Ethiopian following liberalisation of the country’s banking sector would be required to do so in partnership with local banks. Business Insider Africa observes that this could give room to some mergers and acquisitions in the Ethiopian banking sector. Ethiopia is in the process of liberalising its banking sector, with

May 25, 2022 • By Addis Insight

Business

FIFA World Cup Trophy has finally arrived in Ethiopia!

FIFA World Cup Trophy Tour has officially begun with Her Excellency President Sahle-Work Zewde accepting the Trophy at the National Palace. During the reception, CCBA-Ethiopia Managing Director Daryl Wilson stated “as Ethiopia is amongst the selected 51 countries in the world and first of the nine countries in the African Continent, the trophy tour presents

May 24, 2022 • By Addis Insight

Business

Ethio telecom recieved approval to launch micro-credit service

Ethio telecom’s Telebirr received a green light from the National Bank of Ethiopia to launch micro credit and saving services. Governor of the National Bank, Yinager Dessie (PhD), stated that the provision of these services through Telebirr would financially benefit a large number of Ethiopians. The National Bank’s decision was also given as part of

May 24, 2022 • By Addis Insight

Business

Beu Delivery Surpass Deliver Addis & Raised Multi-Million Dollar Seed Funding

A Chinese overseas company focused on the African food delivery market, has completed a multi-million dollar seed round of financing, led by Y Combinator, Goodwater Capital and Ethiopian angel investor Addis Alemayehou. Chapter 42 has served as a financial advisor.  The newly raised funds in this round will be used for market expansion and technology

May 24, 2022 • By Addis Insight

Business

Ermias Amelega Recommendations for what ails the economy

Recommendations for what ails the economy: The road to stainable economic recovery and growth starts with a large (US$4-6 billion) non-debt foreign currency infusion to reboot the economy and anchor the liberalization of the exchange rate regime to a managed float after which market forces will balance supply and demand of foreign exchange. 2. The

May 22, 2022 • By Addis Insight

Business

Ethio Telecom Signs An Agreement To Lease Its Modern Modular Data Center For Five Institutions

Ethio telecom built and launched a modern modular data center recently and has been utilizing it for own multiple purposes and leasing for enterprises. The company has signed a memorandum of agreement today with Zemen Bank, Rays Micro Finance, ZamZam Bank, Hijira Bank and Websprix that would enable these institutions use this modern high-capacity world

May 21, 2022 • By Addis Insight

Business

Tulu Kapi targets 250 Million USD of gold export annually from Ethiopia

Media Statement In London this morning 17 May 2022, KEFI shareholders formally approved the recent capital raisings which were in several stages providing GBP28 million for KEFI to inject into early development works mainly at Tulu Kapi and also at the two Saudi Arabian projects. The total is the equivalent of Ethiopian Birr 1.8 billion

May 19, 2022 • By Addis Insight

Business

Ethiopia Investment Holdings to Oversee Formation of Capital Market

Ethiopia Investment Holdings, the country’s sovereign abundance reserve shaped recently, declared it has been entrusted with laying out the Ethiopian protections trade (ESX), assuming control over the obligation from the National Bank of Ethiopia. It has been almost two years since the national bank started laying out Ethiopia’s most memorable capital market. The administrative body

May 18, 2022 • By Addis Insight

Africa News

Ethiopia among the top 10 African countries for highest corporate tax

In this article, we are going to list the top 10 major economies in Africa by gross domestic product (GDP) with the highest corporate tax rates. Corporate tax rates vary across the globe and reflect the unique economic needs of every country. Countries rich in natural resources, for example, often generate a bulk of their

May 17, 2022 • By Addis Insight

Business

Ethiopia joins The International Forum of Sovereign Wealth Funds

IFSWF Strengthens its Footprint in Africa with Three New Memberships London, 17 May 2022 – The International Forum of Sovereign Wealth Funds (IFSWF), a global network of sovereign wealth funds from over 40 countries, has admitted the Sovereign Fund of Egypt, as a full member, as well as Ethiopian Investment Holdings and the Fonds Souverain de Djibouti

May 17, 2022 • By Addis Insight