Business

Ethiopia, RUSAL Advance Plan for $1 Billion Aluminium Smelter as MoU Signed

Addis Ababa — Ethiopian Investment Holdings (EIH) has signed a Memorandum of Understanding (MoU) with RUSAL, one of the world’s largest producers of low-carbon aluminium, to push forward plans for a major aluminium smelter in Ethiopia. The proposed plant will have an annual production capacity of 500,000 metric tons, positioning Ethiopia as a competitive player

November 14, 2025 • By Addis Insight

Business

Six Dead in Suspected Hemorrhagic Fever Outbreak in Ethiopia

Addis Ababa — A suspected outbreak of viral hemorrhagic fever in Jinka town, South Omo Zone, has claimed the lives of six people, among them a doctor and a nurse, intensifying concerns among health authorities and triggering an international emergency response. Local hospital officials who spoke to the BBC confirmed that the cause of the

November 13, 2025 • By Addis Insight

Business

IMF Flags Currency Risks as Kenya and Ethiopia Pivot to Yuan Debt Swaps

The International Monetary Fund has cautioned Kenya and Ethiopia over the rising financial risks tied to their recent decisions to convert portions of their Chinese loans from US dollars into Chinese yuan, warning that the strategy—while lowering immediate borrowing costs—may expose both economies to new layers of currency volatility. Kenya completed the shift on October

November 13, 2025 • By Addis Insight

Business

NBE Publishes Official List of Licensed Money Transfer Operators

The National Bank of Ethiopia (NBE) has released the official list of financial institutions authorized to provide money remittance and transfer services in the country, reaffirming that any unlicensed operation in this sector is illegal and punishable by law. In its announcement, the NBE emphasized that only licensed financial institutions are permitted to receive or

November 12, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Unveils ‘CBE Beje,’ a Digital Salary-Backed Savings and Loan Platform

The Commercial Bank of Ethiopia (CBE), the country’s largest financial institution, has launched a new digital savings and loan service branded “CBE Beje”, marking another major step in the bank’s ongoing digital transformation strategy. The launch event in Addis Ababa was attended by CBE President Abe Sano, Executive Vice President for Corporate Services Afereem Mekuria,

November 11, 2025 • By Addis Insight

Business

Addis Ababa Relaunches Edna Mall–British Embassy Road Project With 1.2 Billion Br Budget

Addis Ababa — The Addis Ababa City Roads Authority (AACRA) has officially relaunched the long-delayed road construction project stretching from Edna Mall to the British Embassy, with a total investment of 1.2 billion birr, after years of suspension due to zoning and administrative issues. The revamped project, now redesigned and fully restarted, aims to transform

November 11, 2025 • By Addis Insight

Business

Ethiopia Arrests 112 in Nationwide Crackdown on Illegal Foreign Exchange Networks

Ethiopian intelligence and law-enforcement agencies have launched one of the country’s widest coordinated operations targeting underground foreign currency markets, resulting in the arrest of 112 suspects, including both Ethiopian citizens and foreign nationals. The arrests come amid government efforts to stabilize the macro-economy, curb illicit capital flows, and protect the country’s limited foreign exchange reserves.

November 10, 2025 • By Addis Insight

Business

Ethiopia Issues Major Clarifications on Income Tax Amendment: What Businesses Must Know

ADDIS ABABA — The Ministry of Revenues (MoR) and Ministry of Finance (MoF) have jointly issued detailed clarifications on the implementation of Ethiopia’s Income Tax Amendment Proclamation No. 1395/2017, addressing years of confusion among tax offices, wholesalers, distributors, agents, transport associations, and digital service providers. The communication—circulated across federal and regional tax bureaus—aims to standardize

November 10, 2025 • By Addis Insight

Business

M-PESA Ethiopia Posts 175% Surge in Active Users, Expands National Digital Ecosystem

M-PESA Ethiopia has reported exceptional performance over the past six months, marking a 174.8% year-on-year growth with 3.4 million active customers transacting within a 90-day period. The mobile financial platform processed 12.3 billion Birr in transactions, underscoring its growing influence in Ethiopia’s digital payments landscape. The company has also broadened its merchant base to over

November 7, 2025 • By Addis Insight

Business

HD Hyundai’s Sales in Ethiopia Surge 470% as Gold Mining Boom

South Korea’s HD Hyundai Infracore has reported an unprecedented 470 percent jump in equipment sales in Ethiopia this year, reflecting the country’s accelerating mining boom and rising appetite for industrial machinery. The company, which sells construction and mining equipment under the Develon brand, said it delivered around 1,300 units in 2025—its highest annual volume to

November 7, 2025 • By Addis Insight