Business

Ethio Telecom to sell mobile phones on credit with National Identity Guarantee

Ethio Telecom announced that it is preparing to sell smart phones on credit by using national ID as a guarantee. He said the company has been selling mobile phones to insured employees for the past one year and has so far sold more than 10,000 phones. Ethio Telecom’s Head of Sales, Mohamed Haji, said that

January 15, 2022 • By Addis Insight

Business

Hibret Bank head office building at a cost of over 2.7 billion birr inaugurated

The construction of the Hibret Bank head office building, which cost more than 2.7 billion birr, was completed in the presence of the President of the Federal Democratic Republic of Ethiopia, Sahlework Zewde. The 37-storey Hibret Bank headquarters is also known as the Union Tower. The inauguration ceremony was attended by FDRE President Woro Sahlework

January 15, 2022 • By Addis Insight

Business

Oromia Cooperative Bank introduces a new digital platform for loans

In collaboration with Payment Financial Technologies, Oromia Cooperative Bank has introduced a new digital platform called “Mechu” to provide loans without collateral. It is believed to be the first convenient loan service for small and medium enterprises that cannot access credit. It is a conventional loan and recovery application that you can use by downloading

January 13, 2022 • By Addis Insight

Business

Ethiopia-Djibouti railway records 37.5% increase in revenue

THE Ethiopia-Djibouti railway, which runs from Addis Ababa to the port in Djibouti City, recorded $US 86.13m in revenue in 2021, a 37.5% increase on 2020. The line was used by 449 passenger trains and 1469 freight trains over the year, transporting 77,357 TEUs. The company also improved the efficiency of operation, with the time to

January 12, 2022 • By Addis Insight

Business

Ethiopian Cargo launches new booking system

Africa’s largest cargo service provider Ethiopian Cargo and Logistics Services has launched a new air cargo booking platform. The new online system enables the airline’s customers to check flight schedules, space availability, loadability of freight, and make real-time bookings. “We are committed to start walking the long walk of taking out paper from the entire

January 12, 2022 • By Addis Insight

Business

An innovative event connecting Diaspora and Local Experts kicked off in Addis Ababa

Addis Ababa, Ethiopia, January 12, 2022 – An innovative event dedicated to connecting and inspiring diaspora with home-based experts from all sectors has officially started in Addis Ababa today. The event held under the theme “Connecting diaspora and home-based professionals to make a lasting Impact” showcased the power of effective partnerships in today’s fast-paced, interconnected

January 12, 2022 • By Addis Insight

Business

Dangdang criticize Luckin coffee monopolizing over Hambella coffee

Recently, Dangdang, a Chinese electronic commerce company, criticized Luckin coffee’s purchase of nearly half of the available Hambell coffee beans, suggesting that the transaction may constitute a masked monopoly in the upstream supply chain. The METAD Agricultural Development PLC owns Hambella coffee, a family-run business, distinctive in that it comes from a single estate in

January 12, 2022 • By Addis Insight

Business

News Alert:  Central Bank Lifts Restrictions Placed on Bank Transfers 

The National Bank of Ethiopia lifts the limit placed on bank transfers. It was a rule introduced to discourage players in the informal exchange market. Customers of banks were not allowed to make more than five bank transfers a week since the beginning of last year. Frezer Ayalew, Director of Banking Supervision at the National

January 11, 2022 • By Addis Insight

Business

National Bank of Ethiopia Lifts Restrictions Weekly Bank Transfer Limit

The National Bank of Ethiopia lifts the weekly transfer limit placed on bank transfers. The restriction was imposed restrain & discourage agents who are engaged in the black market. Bank customers were not allowed to make more than five bank transfers a week since the beginning of last year. Frezer Ayalew, Director of Banking Supervision

January 11, 2022 • By Addis Insight

Business

Ethiopian Airlines to Return to Argentina

On January 8, Ethiopian Airlines is said to return to Buenos Aires/Ezeiza (EZE), Argentina. Seven months have passed since Argentina restricted airline operations due to the rise of COVID-19 cases in Africa. Although other South American countries have suspended the return of any African airlines (due to the Omicron variant), Ethiopian Airlines’ return was originally

January 5, 2022 • By Addis Insight