Business

Safaricom Ethiopia’s Active Customer Base Surpasses 10 Million

Addis Ababa, June 24, 2017 — Safaricom Ethiopia has announced that its 90-day active subscriber base has reached 10 million customers nationwide, marking a significant milestone nearly four years after receiving its telecommunications license. Wim Vanhelleputte, CEO of Safaricom Ethiopia, shared the update during a press briefing, highlighting the company’s substantial contribution to Ethiopia’s telecom

July 1, 2025 • By Addis Insight

Business

National Bank of Ethiopia Lifts Mandatory Bond Purchase Requirement for Commercial Banks

Addis Ababa – In a significant shift in monetary policy, the Monetary Policy Committee (MPC) of the National Bank of Ethiopia (NBE) has decided to lift the directive that required all commercial banks to purchase long-term government bonds. The decision was announced following the MPC’s third meeting of the fiscal year on June 23, 2017

June 30, 2025 • By Addis Insight

Business

Ethiopia Starts Supplying Electricity to Tanzania via Kenya

Ethiopia has begun exporting electricity to Tanzania for the first time, delivering power through Kenya’s high-voltage transmission network in a successful pilot that marks a milestone in regional energy trade. Kenya Electricity Transmission Company (KETRACO) Managing Director announced on social media that the trial transmitted power from Ethiopia along Kenya’s 400kV Suswa–Isinya line to the

June 30, 2025 • By Addis Insight

Business

Ethiopia Opens Banking Sector to Foreign Investors Starting Today

Ethiopia Opens Banking Sector to Foreign Investors in Landmark Reform By Addis Insight Business Desk | June 25, 2025 ADDIS ABABA — Ethiopia has officially opened its banking sector to foreign investors for the first time, marking a historic shift in the country’s tightly regulated financial landscape. The National Bank of Ethiopia (NBE) released Directive

June 25, 2025 • By Addis Insight

Business

Ethiopian Startup Better Auth Raises $5M to Democratize Secure Authentication

Beyond the Valley: Better Auth Raises $5M to Democratize Authentication for the World June 25, 2025 Just three months after Addis Insight reported on their remarkable journey from Ethiopia to Silicon Valley, the story of Better Auth has taken yet another extraordinary turn. The startup—founded by Bereket Engida and Kinfe Michael Tariku—has officially closed a

June 25, 2025 • By Addis Insight

Business

Ethiopia Mandates Federal Agencies to Accept All Licensed Digital Payments

Addis Ababa, June 2025 — Ethiopia’s Ministry of Finance has formalized Directive No. 1069/2025, requiring all federal public institutions—from tax offices to utility providers—to accept payments via any licensed payment service provider, including: These must be licensed by the National Bank of Ethiopia (NBE) (mofed.gov.et, africanenda.org, mfw4a.org). Key Provisions: Strategic Context & Sector Alignment Implications for

June 24, 2025 • By Addis Insight

Business

Addis Ababa Reports 89% Pass Rate in 8th Grade Exit Exam, Signaling Steady Academic Progress

ADDIS ABABA – June 24, 2025 — The Addis Ababa Education Bureau has officially released the results of the 2017 Ethiopian calendar (2024/2025 Gregorian) 8th Grade Exit Examination, revealing that an impressive 89 percent of students have successfully passed and are now eligible to advance to the 9th grade. Speaking at a press briefing this

June 24, 2025 • By Addis Insight

Business

Ethiopia Inks $3 Billion Fertilizer Deal With Dangote to Curb Import Dependence

ADDIS ABABA — Ethiopia is set to sign a $3 billion agreement with Nigerian billionaire Aliko Dangote to construct a large-scale fertilizer plant in the Somali Regional State, as the Horn of Africa nation seeks to reduce its reliance on imported agricultural inputs and stabilize local supply chains. The project, expected to break ground later

June 24, 2025 • By Addis Insight

Business

Ethiopia’s Government Officially Ends Fuel Subsidy: Prices to Follow Global Market Rates

Addis Ababa – June 21, 2025The Ethiopian government has officially announced the complete removal of its fuel subsidy, a policy shift set to recalibrate the country’s fuel pricing structure in line with international market rates. The Ministry of Trade and Regional Cooperation confirmed that the new directive, which has been in development for over a

June 21, 2025 • By Addis Insight

Business

Dashen Bank Unveils Secure Valuable Asset Deposit Service for Individuals and Institutions

Dashen Bank has officially launched a secure valuable asset deposit service, offering its customers the ability to store high-value items—such as securities, gemstones, gold, precious metals, and important documents—in specialized safes and deposit boxes with top-tier security protocols. The new service, introduced by Dashen’s Treasury Management Division, represents a significant step in the bank’s ongoing

June 20, 2025 • By Addis Insight