Business

Malaysia Reopens Embassy in Addis Ababa After 43 Years

Malaysia has officially re-established its diplomatic presence in Ethiopia, reopening its embassy in Addis Ababa after more than four decades of closure. The decision marks a significant step in strengthening political, economic, and cultural links between the two countries and underscores Malaysia’s growing interest in the African continent. Historic Closure and Reopening Malaysia’s Ministry of

September 29, 2025 • By Addis Insight

Business

Abyssinian Flight Launches First Tourist Charter to the Grand Ethiopian Renaissance Dam

Abyssinian Flight Services & Aviation Academy (AFS), one of Ethiopia’s leading private air charter operators, has inaugurated the first tourist charter flight to the Grand Ethiopian Renaissance Dam (GERD), positioning the iconic dam as a premier national tourism destination. The milestone flight, carrying Ethiopian-American diaspora visitors, took place on September 25, 2025, shortly after the

September 28, 2025 • By Addis Insight

Business

Ethiopia to Enforce 30% Tax on Petroleum Products in Current Fiscal Year

The Ministry of Finance has announced that it will fully implement a 30% tax on petroleum products during the current 2018 fiscal year. The tax comprises a 15% value-added tax (VAT) and a 15% excise duty. According to the ministry, this policy marks a significant shift in the country’s fiscal strategy and forms part of

September 28, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Strikes North America Remittance Deal With Ramad Pay

The Commercial Bank of Ethiopia (CBE), the country’s largest financial institution, has signed a memorandum of understanding (MoU) with Ramad Pay, a North America–based money transfer company, in a move designed to capture a larger share of Ethiopia’s fast-growing remittance market and bring more of those flows into formal channels. Tapping Into a Multi-Billion Dollar

September 27, 2025 • By Addis Insight

Business

Ethiopian Interbank Money Market Hits 1 Trillion Birr in Cumulative Trades

Addis Ababa — Ethiopia’s interbank money market has crossed a symbolic threshold, with cumulative trades surpassing 1 trillion birr less than a year after the platform’s launch. The milestone underscores the rapid evolution of the country’s nascent money markets and signals a deepening of financial-sector reforms. Rapid Growth Under a New Policy Regime Launched in

September 26, 2025 • By Addis Insight

Business

Ethiopia Inks Nuclear Deal With Russia in Energy Sovereignty Push

Ethiopia and Russia have signed a landmark action plan to begin constructing Ethiopia’s first nuclear power plant, a project poised to reshape the East African nation’s energy mix and reduce reliance on hydropower amid climate variability. Rosatom Director General Alexey Likhachev and Ethiopian Foreign Minister Gedion Timotheos signed the agreement in Moscow during a high-level

September 26, 2025 • By Addis Insight

Business

Ethiopia Unveils Record 1.93 Trillion Birr Citizens’ Budget to Power Post-War Recovery and Growth

Addis Ababa — Ethiopia’s Ministry of Finance has released a record-breaking 1.93 trillion birr ($33.7 billion) national budget for the Ethiopian Fiscal Year (EFY) 2018 (July 2025–June 2026), marking a bold pivot toward post-war reconstruction, macroeconomic reform, and long-term sustainable growth. The “Citizens’ Budget,” a simplified public-facing version of the official plan, aims to demystify

September 25, 2025 • By Addis Insight

Business

Ethiopia’s T-Bill Market Draws Heavy Bids as Finance Ministry Reforms Gain Traction

Addis Ababa — Ethiopia’s Treasury-bill market is attracting record investor interest after a series of debt-market reforms, signaling a new phase of domestic borrowing that could reduce the country’s reliance on external lenders. The Finance Ministry said it raised 111.1 billion birr ($1.9 billion) in the first two months of the 2025/26 fiscal year—exceeding a

September 25, 2025 • By Addis Insight

Business

Addis Ababa Police Announce Road Closures for Meskel Demera Festival

The Addis Ababa Police Headquarters has advised motorists to plan ahead and use alternative routes on Monday, September 16, as the city prepares for the annual Meskel Demera festival at Meskel Square. The Joint Security and Safety Task Force has completed preparations to ensure a safe and orderly celebration and will begin operations early Monday

September 25, 2025 • By Addis Insight

Business

Ethiopia’s Airbnb Dilemma: A Grey-Market Boom Waiting for a Digital Fix

Addis Ababa’s short-term rental market is primed for takeoff—if payments, policy, and power can catch up. Addis Ababa’s short-term rental (STR) scene sits at a strange crossroads. On paper, it has everything going for it: a pro-tourism policy agenda, a globally connected flag carrier and hub airport, and a large, motivated diaspora that flies home

September 25, 2025 • By Addis Insight