Business

Ethiopia’s Macro Reforms at One: NBE Highlights Progress and Path Ahead

A year after launching a sweeping package of macroeconomic reforms, the National Bank of Ethiopia (NBE) is touting major strides in modernizing Ethiopia’s monetary, exchange rate, and financial systems. The reforms, which began on July 29, 2024, under the Home-Grown Economic Reform agenda, mark a decisive shift toward market-oriented policy frameworks aimed at stabilizing the

July 30, 2025 • By Addis Insight

Business

Ethiopia’s Parallel Forex Rate Surges to 174 ETB, Testing Government Reforms

Ethiopia’s parallel forex market continues to spiral upward, with the exchange rate hitting a staggering 174 ETB per USD—a sharp rise from 160 ETB just weeks ago and a significant jump from the official rates. This widening gap highlights the deepening strain on the government’s reform agenda and foreign exchange market liberalization efforts. Reform Momentum

July 29, 2025 • By Addis Insight

Business

Asset Recovery Proclamation No. 1364/2025 Published in the Federal Negarit Gazette

ADDIS ABABA – The Federal Democratic Republic of Ethiopia has instituted a comprehensive new legal framework, the Asset Recovery Proclamation No. 1364/2025, aimed at combating economic crime and recovering illicitly obtained assets. Published in the Federal Negarit Gazette on May 2, 2025, the law introduces powerful new measures, including the confiscation of “unexplained assets” and

July 29, 2025 • By Addis Insight

Business

Gasoline, White Diesel, and Kerosene Prices to Remain Unchanged for August, Says Ministry

Addis Ababa, July 20, 2017 (FMC) – The Ministry of Trade and Regional Cooperation announced today that the retail prices of key petroleum products — including gasoline, white diesel, kerosene, and aviation fuel — will remain unchanged for the month of August. The decision takes effect starting at 12:00 a.m. tonight. In a public statement

July 28, 2025 • By Addis Insight

Business

Abyssinia Bank Launches Paperless Banking Service Across All Branches

Abyssinia Bank has officially launched its new paperless banking service at its newly established Ras Special Branch. The inauguration was attended by the Governor of the National Bank of Ethiopia, Ato Mamo Mehret, the CEO of Abyssinia Bank, Ato Bekalu Zeleke, along with senior executives, employees, and invited guests. This new system allows customers to

July 27, 2025 • By Addis Insight

Business

2025 Guide: How Diasporas and Foreigners Can Legally Buy Property in Ethiopia

By Live Ethio Real Estate Consulting PLC Ethiopia’s Real Estate Market is Booming – But Can Foreigners Join In? Ethiopia’s real estate sector is on the rise, now valued at over US $1.15 trillion, according to recent data from Statista. Fueled by rapid urbanization, an expanding middle class, and growing interest from the diaspora and

July 25, 2025 • By Addis Insight

Business

Awash Investment Bank Set to Launch Operations with 200 Million Birr Capital

Addis Ababa – July 25, 2025 — Awash Investment Bank, a newly established subsidiary of Awash Bank, is set to begin operations after securing a business license and initial capital of 200 million birr. The bank, which aims to provide specialized investment banking services, announced that Dr. Andualem Hailu has been appointed as its inaugural

July 25, 2025 • By Addis Insight

Business

Ethiopian Airlines Expands MRO Facility, Cementing Position as Africa’s Aviation Leader

ADDIS ABABA, Ethiopia – Ethiopian Airlines has unveiled a major expansion of its Maintenance, Repair, and Overhaul (MRO) complex at Bole International Airport, a $150 million project that positions Ethiopia as the largest aircraft maintenance hub in Africa. The new facilities, constructed by China Communications Construction Company, are set to significantly boost the airline’s maintenance

July 24, 2025 • By Addis Insight

Business

Ethio Telecom Reports 162 Billion Birr Revenue and 4.9 Trillion Birr in Telebirr Transfers in 2017 Fiscal Year

Addis Ababa – July 24, 2025 – Ethio Telecom has reported a strong financial and operational performance for the 2017 Ethiopian fiscal year (2024/2025), achieving 162 billion birr in revenue, amounting to 99% of its annual target. The announcement was made by CEO Frehiwot Tamiru, who highlighted the company’s multifaceted contribution to advancing Digital Ethiopia

July 24, 2025 • By Addis Insight

Business

Creative Hub Ethiopia Set to Inaugurate National Innovation Space at Historic Arada Post Office

Addis Ababa, Ethiopia – July 28, 2025 — In a bold fusion of heritage and innovation, Creative Hub Ethiopia is set to inaugurate a landmark innovation and entrepreneurship space at the historic Arada Post Office, breathing new life into one of Addis Ababa’s most treasured architectural icons. Slated for launch on Monday, July 28, 2025,

July 24, 2025 • By Addis Insight