Business

Federal Housing Corporation Posts 9.34B Birr Earnings, Surpassing Targets

Ethiopian Investment Holdings (EIH) has launched a review of the Federal Housing Corporation (FHC), following a year of record-breaking results and renewed ambitions for the state-owned enterprise. In the past fiscal year, the FHC achieved 9.34 billion birr in revenue, which is 155% of its provisional annual target—a remarkable over-performance that underscores the growing role

August 25, 2025 • By Addis Insight

Business

Security Forces Cancel Ashenda and Shadey Festivals in Addis Ababa Without Explanation

Ashenda, Shadey, and Solel: A Celebration of Womanhood in EthiopiaAshenda, Shadey, and Solel are regional names for a cherished annual festival in Ethiopia dedicated to celebrating girls and young women. Rooted in Orthodox Tewahedo traditions and cultural heritage, the festival is a vibrant display of music, dance, and community spirit. It is one of the

August 25, 2025 • By Addis Insight

Business

Ethiopia’s Largest Gold Mine Set to Launch in 2026

Ethiopia is on the verge of becoming one of Africa’s newest large-scale gold producers with the launch of the Kurmuk Gold Mine Project in Benishangul-Gumuz. Backed by an investment of around $500 million, the project is set to deliver first gold by mid-2026 and could dramatically reshape Ethiopia’s mining landscape. A Game-Changer for Ethiopia Kurmuk

August 24, 2025 • By Addis Insight

Business

Ethiopia Pauses Plan to Sell 35% of Ethio Telecom Shares

The Ethiopian government has shelved its plan to sell 35% of Ethio Telecom to foreign investors, stalling a key step in the country’s much-publicized economic reform program. According to sources, the share sale will not take place in the near future. Authorities are also reassessing how potential domestic shareholding might influence future privatization. For now,

August 24, 2025 • By Addis Insight

Business

Ethiopian Airlines Expands Nigeria Operations with 33 Weekly Flights

Adds New Evening Service from Abuja Starting October 28 Ethiopian Airlines is ramping up its Nigeria operations with three additional weekly evening flights from Abuja, bringing its total to 33 weekly flights across the country. The new schedule begins October 28, 2025, and will increase Abuja services to 10 flights per week. According to Firiehiwot

August 22, 2025 • By Addis Insight

Business

Businesses Warn USD Shortages Threaten Operations Despite Bank Allocations

Despite Ethiopian banks nearly doubling foreign currency allocations compared to last year, businesses continue to face severe U.S. dollar shortages that threaten daily operations and investment plans. Earlier this week, most commercial banks reported stronger allocations. Awash Bank earmarked $110 million for August, while Dashen Bank disbursed $11 million in the first six days. On

August 21, 2025 • By Addis Insight

Business

Telebirr Transactions Reach 2.38 Trillion Birr as Ethio Telecom Revenue Jumps 72% in 2017 EFY

Ethiopian Investment Holdings (EIH) opened its 2017 Ethiopian fiscal year (EFY) annual performance dialogue with a detailed review of Ethio Telecom’s impressive results, spotlighting the state-owned operator’s strong growth and expanding role in the country’s digital economy. Strong Operational and Financial Growth Ethio Telecom delivered solid year-on-year performance, underlined by a 6% increase in subscriptions

August 21, 2025 • By Addis Insight

Business

Development Bank of Ethiopia Reports Strong Growth in 2017 EFY

Addis Ababa – Ethiopian Investment Holdings (EIH), the nation’s sovereign wealth fund, concluded Day 3 of its annual performance dialogue with an in-depth review of the Development Bank of Ethiopia (DBE). The dialogue assessed the Bank’s financial and operational performance for the 2017 Ethiopian Fiscal Year (EFY), highlighting both achievements and areas requiring strategic improvement.

August 21, 2025 • By Addis Insight

Business

KCB in Talks to Acquire Up to 40% Stake in Ethiopian Bank

Nairobi, August 20, 2025 – Kenya’s largest lender, KCB Group Plc, is in discussions to purchase as much as 40% of an Ethiopian bank, positioning itself as one of the first foreign lenders to enter Africa’s second most populous nation following recent regulatory reforms. Ethiopia’s parliament passed legislation earlier this year allowing international banks to

August 20, 2025 • By Addis Insight

Business

Ethiopian Airlines to Inaugurate New Chinese-Built Headquarters in 2026

Addis Ababa – Ethiopian Airlines Group is preparing to move into a new state-of-the-art headquarters by August 2026, as Africa’s largest carrier continues to expand its infrastructure base. The project, financed and built with Chinese expertise, is one of the most significant developments in the airline’s history. A Landmark Development The new headquarters consists of

August 20, 2025 • By Addis Insight