Business

Ethiopian Parliament Approves Major Amendment to Federal Income Tax Law to Align with Digital Economy

Addis Ababa, Ethiopia — July 17, 2025In a significant legislative development, the House of Peoples’ Representatives has approved a draft amendment to the longstanding Federal Income Tax Proclamation. The decision was made during the House’s second emergency session held today, signaling the government’s push toward modernizing its fiscal framework to reflect evolving economic realities. The

July 17, 2025 • By Addis Insight

Business

IMF Warns Structural Challenges May Sustain Ethiopia’s Parallel Market Premium Despite Forex Reform

Addis Ababa, July 2025 – Ethiopia’s ambitious reform to unify its foreign exchange market is showing results but faces stubborn structural hurdles that could keep the parallel market premium alive in the medium term, the International Monetary Fund has warned. According to the IMF’s Country Report No. 25/189, Ethiopia eliminated most official FX rationing in

July 16, 2025 • By Addis Insight

Business

Ethiopia Proposes Major Income Tax Reforms, Including Quarterly Prepayments for Large Businesses

Addis Ababa, Ethiopia – Ethiopia’s new draft Income Tax Proclamation proposes a significant shift for Category “A” taxpayers, requiring businesses with annual income exceeding 2 million birr to pre-pay 25% of the previous fiscal year’s profit tax liability each quarter. Instead of settling the entire tax due after submitting the annual report, companies will make

July 13, 2025 • By Addis Insight

Business

Ethiopia’s First Securities Exchange Begins Trading

Ethiopia’s long-awaited securities exchange has officially launched trading, introducing a secondary market for government treasury bills (T-bills) in electronic form. The milestone event was held at the Sheraton Addis Hotel, organized in collaboration with the National Bank of Ethiopia (NBE), the Ethiopian Capital Market Authority (ECMA), and the Ethiopian Securities Exchange (ESX). It brought together

July 12, 2025 • By Addis Insight

Business

U.S. Embassy Limits Ethiopian Nonimmigrant Visas to Three Months, Single Entry

The U.S. Embassy in Addis Ababa has announced a new restriction on the validity of most nonimmigrant visas for Ethiopian citizens, reducing them to single-entry visas valid for only three months. Effective July 8, 2025, this change applies to all newly issued nonimmigrant visas. The Embassy confirmed the update in an official statement released on

July 10, 2025 • By Addis Insight

Business

Ethiopia Proposes Raising Top Income Tax Threshold to 14,000 Birr

A new bill tabled in Ethiopia’s House of People’s Representatives aims to increase the threshold for the highest income tax rate, moving the point at which the 35 percent tax applies from 10,900 birr to 14,000 birr. The current top rate and its threshold were established by the 2008 Income Tax Proclamation, which set the 35 percent

July 9, 2025 • By Addis Insight

Business

Ethiopian Airlines Set to Launch First-Ever Flights to Australia

Ethiopian Airlines is preparing to launch passenger flights to Australia—the only continent it has not served in its eighty-year history. The new service will connect Addis Ababa with Melbourne, forging a long-awaited link between Africa and Australia while boosting trade, tourism, and investment flows. Given the route’s long distance, the airline is expected to deploy

July 7, 2025 • By Addis Insight

Business

Ethiopia’s Securities Exchange Set to Begin Official Trading This Week

Ethiopia’s much-anticipated Securities Exchange (ESX) is poised to launch full-scale trading next week, marking a watershed moment in the country’s financial modernization journey. This milestone follows successful pilot transactions conducted just two weeks ago, paving the way for a fully operational, regulated securities market that promises to reshape investment and economic growth in Africa’s second-most-populous

July 7, 2025 • By Addis Insight

Business

CBE Achieves Historic ETB 1.69 Trillion in Total Deposits, Fueling Confidence in Ethiopia’s Banking Sector

The Commercial Bank of Ethiopia (CBE), the country’s largest state-owned bank, announced on Tuesday that it has reached a record-breaking ETB 1.69 trillion in total deposits, marking an unprecedented milestone in the history of Ethiopia’s banking industry. The figure represents a remarkable increase of over ETB 515 billion during the 2024/25 fiscal year alone—an annual

July 2, 2025 • By Addis Insight

Business

Ethiopian Parliament Approves Proclamation Granting Foreigners the Right to Own Immovable Property

Addis Ababa, June 24, 2017— Ethiopia’s House of People’s Representatives has formally approved a new proclamation granting foreign nationals the right to own immovable residential properties, marking a significant policy shift aimed at attracting foreign investment in the country’s housing sector. The legislation, which passed after thorough debate in Parliament, was presented by the House’s

July 1, 2025 • By Addis Insight