Business

New Bus Line Connects Nairobi and Addis Ababa with Round-Trip Fare of 16,000 Birr

August 6, 2025 | Addis Ababa / Nairobi — A new cross-border ground transportation service has officially launched between Nairobi, Kenya and Addis Ababa, Ethiopia, offering an affordable travel alternative with enhanced comfort and daily service. Abyssinia Luxury Coach, a transport company operating in the region, began its services last Sunday, according to company director

August 6, 2025 • By Addis Insight

Business

Ethiopia’s Digital Creators Struggle for Inclusion in the Global Monetization Game

Ethiopia is witnessing a digital revolution. From TikTok comedians in Gonder to YouTube educators in Hawassa and Instagram stylists in Addis Ababa, a new creative class is shaping the nation’s online landscape. But despite explosive growth in internet and mobile penetration, Ethiopia’s creators remain locked out of the global digital economy. This isn’t a story

August 6, 2025 • By Addis Insight

Business

Ethiopia Sells $150M in Foreign Exchange Auction as Birr Weakens to 138.26/USD

Addis Ababa, August 5, 2025 — The National Bank of Ethiopia (NBE) has executed its largest foreign exchange auction to date, selling $150 million to 28 commercial banks at a weighted average rate of 138.2555 Birr per US dollar. The move marks another step in Ethiopia’s cautious shift toward a more market-reflective exchange regime. This

August 5, 2025 • By Addis Insight

Business

Ethiopian Airlines Reports $28 Million Loss from Domestic Flights, Confirms Ongoing Fund Freeze in Eritrea

Addis Ababa, August 5, 2025 — Ethiopian Airlines Group has reported a $28 million loss from its domestic flight operations over the past fiscal year, according to CEO Mesfin Tasew. The loss, he said, stems from rising costs in foreign currency while domestic ticket prices remained largely unchanged amid macroeconomic reforms. Speaking at a press

August 5, 2025 • By Addis Insight

Business

Starlink Launches in Somalia,But Triggers Political Tensions with Somaliland

Starlink, the satellite internet division of Elon Musk’s SpaceX, has officially launched operations in Somalia, delivering high-speed, low-latency broadband across the Horn of Africa nation. The announcement—hailed as a transformative step for digital inclusion—has also sparked diplomatic friction with the breakaway region of Somaliland over territorial representation. The launch was confirmed early Tuesday via a

August 5, 2025 • By Addis Insight

Business

Ethiopian Airlines to Begin Construction of $10 Billion Bishoftu Airport in November

Ethiopian Airlines Group has announced it will break ground in November 2025 on one of Africa’s most ambitious aviation infrastructure projects: the $10 billion Bishoftu International Airport. Located approximately 39 kilometers southeast of Addis Ababa, near the town of Bishoftu (Debre Zeit), the airport will become a central pillar of Ethiopia’s long-term aviation and economic

August 5, 2025 • By Addis Insight

Business

Ethiopian Airlines Denies Reports of Aircraft Lease Talks with Russia

Addis Ababa – August 5, 2025Ethiopian Airlines Group CEO Mesfin Tasew has firmly denied reports claiming the airline is in negotiations to lease aircraft to Russia, calling the allegations “completely false.” The statement comes in response to a recent article published by Capital newspaper, which suggested that Ethiopian authorities were in talks with their Russian

August 5, 2025 • By Addis Insight

Business

Wegagen Bank Secures $85M Trade Finance Boost from TDB and Afreximbank

Wegagen Bank has secured an $85 million international trade finance guarantee facility through partnerships with the Eastern and Southern African Trade and Development Bank (TDB) and the African Export-Import Bank (Afreximbank). The facility is expected to enhance the bank’s capacity to support Ethiopian traders by easing access to Letters of Credit and trade-related guarantees. This

August 5, 2025 • By Addis Insight

Business

Ethiopia’s Halal Meat Exports Surge to $120 Million, Driven by Gulf Demand

Ethiopia has recorded a sharp increase in earnings from halal meat and livestock by-product exports, generating $120 million in the fiscal year ending June 2025 — a 53% rise compared to the previous year, according to the Ethiopian Institute of Animal Development. The surge was largely driven by strong demand from Gulf nations, with Saudi

August 5, 2025 • By Addis Insight

Business

Ethiopian Airlines Reports Record $7.6 Billion Revenue in 2025 Fiscal Year

Ethiopian Airlines Group, Africa’s largest and most profitable carrier, has announced a record-breaking annual revenue of over $7.6 billion for the 2017 Ethiopian fiscal year. The announcement was made by Group CEO Ato Mesfin Tase, who attributed the achievement to strong demand for the airline’s services and continued expansion into new markets. According to the

August 5, 2025 • By Addis Insight