Business

National Bank of Ethiopia Announces $150 Million Forex Auction to Ease Currency Pressure

In a move signaling increased momentum in foreign currency management, the National Bank of Ethiopia (NBE) has announced plans to hold its ninth foreign exchange (forex) auction, scheduled for Tuesday, August 5, 2025. The central bank has allocated $150 million USD for this round—tripling the amount offered in the previous auction. This decision follows a

August 4, 2025 • By Addis Insight

Business

A $4.5 Billion Drop Overnight: What’s Behind the Shake-up of Al Amoudi’s Empire?

A Deal that Reshaped a Billionaire’s Empire: How the Sale of Preem Erased $4.5B from Al Amoudi’s Net Worth ADDIS ABABA – A dramatic plunge in the wealth of Saudi-Ethiopian billionaire Mohammed Al Amoudi, which saw his net worth plummet from approximately $10.5 billion to $5.98 billion around April 4, 2025, can be attributed to

August 4, 2025 • By Addis Insight

Business

Russia Turns to Ethiopian Airlines for Aircraft Amid Western Sanctions

Addis Ababa | August 3, 2025 As Western sanctions continue to isolate Russia’s aviation sector, Moscow is turning its gaze toward Africa—specifically, Ethiopian Airlines—as a potential partner to sustain its crippled fleet operations. Blocked from acquiring Airbus and Boeing jets and their spare parts, Russia has struggled to maintain its commercial aviation industry. In response,

August 3, 2025 • By Addis Insight

Business

National Bank of Ethiopia Warns Diaspora Against Using Unlicensed Money Transfer Operators

Addis Ababa, August 2, 2025 —In a stern public advisory issued today, the National Bank of Ethiopia (NBE) has warned the Ethiopian diaspora community against using unauthorized money transfer services, following the identification of several operators allegedly involved in illicit activities. The central bank emphasized that all cross-border fund transfers must be conducted through formal,

August 2, 2025 • By Addis Insight

Business

National Bank of Ethiopia Urges Local Banks to Brace for Foreign Competition

“Many Foreign Banks Are Applying for Licenses,” Says Governor Mamo Mihret The Governor of the National Bank of Ethiopia (NBE), Mamo Mihret, has called on domestic banks to step up their preparedness as Ethiopia’s banking sector inches closer to opening its doors to foreign competitors. His remarks come at a time when a growing number

August 1, 2025 • By Addis Insight

Business

Addis Ababa’s Arat Kilo Plaza Emerges as a Modern Urban Landmark

Innovative and People-Centered Projects Take Shape in Addis Ababa Addis Ababa Mayor Adanech Abebe has reaffirmed the city administration’s commitment to advancing inclusive and participatory development. She emphasized that the capital is rapidly implementing innovative, people-centered projects designed to meet the needs of its residents. In a recent ceremony, Mayor Adanech inaugurated 73 new shopping

August 1, 2025 • By Addis Insight

Business

Ethiopian Airlines Unveils World-Class Passenger Terminal in Kombolcha

Ethiopian Airlines has officially inaugurated a brand-new, state-of-the-art passenger terminal and associated support facilities at Kombolcha Airport in the Wollo region. The inauguration ceremony took place in the presence of His Excellency Arega Kebede, President of the Amhara Regional State, alongside other high-ranking government officials and Ethiopian Airlines Group CEO, Mr. Mesfin Tasew. The multimillion-euro

August 1, 2025 • By Addis Insight

Business

Telebirr Lent 13.2 Billion Birr in One Year—but Borrowers Say They’re Paying the Price

Telebirr recently announced it has disbursed more than 25.8 billion ETB in digital microloans to over 11.9 million customers since its 2021 launch. Developed by Ethio Telecom in partnership with Dashen Bank, the Commercial Bank of Ethiopia, and Sinqe Bank, the platform has also mobilized 24.6 billion ETB in digital savings from 3.9 million users

August 1, 2025 • By Addis Insight

Business

Ethiopia’s Central Bank Celebrates One Year of Sweeping Reforms as Economy Enters New Era

By Addis Insight Staff | July 29, 2025 – Addis Ababa Ethiopia’s central bank marked the one-year anniversary of its historic macroeconomic reform program on Monday, touting significant progress on inflation control, foreign exchange inflows, and banking sector modernization—milestones the government hopes will anchor long-term stability in Africa’s second-most populous nation. The reform package, introduced

July 31, 2025 • By Addis Insight

Business

Introducing the Eight: Ethiopia’s First Licensed Capital Market Players

By Addis Insight | July 2025 In a significant move towards building a vibrant and regulated capital market, Ethiopia’s nascent financial sector witnessed a historic milestone as the Ethiopian Capital Market Authority (ECMA) officially authorized a set of capital market service providers. The announcement marks a crucial step in operationalizing the Ethiopia Securities Exchange (ESX),

July 30, 2025 • By Addis Insight