Business

Ethiopia’s Forex Auction Sets Average Exchange Rate at 136.63 Birr/USD

This development comes as part of the central bank’s ongoing managed forex auction system aimed at addressing Ethiopia’s foreign currency shortages while ensuring fair and market-reflective pricing. The weighted average rate reflects the mean of all successful bids submitted by participating banks. According to the announcement, the NBE continues to implement periodic forex auctions in

June 19, 2025 • By Addis Insight

Business

Meet Ethiopian-American Dr. Aminé: A Rapper Reimagining Diaspora, Academia, and Home

When Adam Aminé Daniel—better known simply as Aminé—returned to Portland State University this June, he did so not as a student or guest performer, but as an honoree. Nine years after he left the university to pursue music full-time, the institution awarded him an honorary Doctorate of Humane Letters. In that moment, as the applause

June 18, 2025 • By Addis Insight

Business

National Palace Museum Officially Opens Its Doors to the Public

Addis Ababa — June 17, 2025 The National Palace Museum in Addis Ababa, renovated and inaugurated four months ago, is now officially open to the public, marking a significant milestone in Ethiopia’s efforts to promote cultural tourism. Mitku Deresa, Director General of the Palace Administration, announced that the museum is open for public visits starting

June 17, 2025 • By Addis Insight

Business

Ethiopian Airlines Suspends Tel Aviv Flights Amid Heightened Regional Tensions

Addis Ababa, June 16, 2025 — Ethiopian Airlines has temporarily suspended all flights between Addis Ababa (ADD) and Tel Aviv (TLV) until June 22, 2025, citing “operational considerations,” according to an official announcement shared on the airline’s social media channels. The suspension affects both outbound and inbound flights and comes amid intensifying tensions in the

June 16, 2025 • By Addis Insight

Business

Addis Ababa Approves Record 350 Billion Birr Budget for 2025 Fiscal Year

Addis Ababa, June 16, 2025 — The Addis Ababa City Administration Cabinet has approved a landmark 350 billion birr (approx. $6 billion USD) draft budget for the 2018 Ethiopian fiscal year (2025/26), marking the city’s largest budget allocation to date. The proposal will now be submitted to the City Council for final approval. The decision

June 16, 2025 • By Addis Insight

Business

Ethiopia at Risk of U.S. Travel Ban Amid Growing Immigration Scrutiny

Addis Ababa, Ethiopia – June 15, 2025 Ethiopia has been named among 36 countries facing potential travel restrictions to the United States, according to a classified memo from the U.S. State Department leaked to The Washington Post. The document, signed by Secretary of State Marco Rubio, signals a new chapter in U.S. immigration enforcement and

June 15, 2025 • By Addis Insight

Business

Ethiopia Opens Trade Sectors to Foreign Investors: New Directive Unlocks Export, Import, Wholesale, and Retail Markets”

ADDIS ABABA, Ethiopia — June 13, 2025 — In a sweeping policy reform aimed at attracting foreign capital and invigorating the country’s trade sector, the Ethiopian Investment Board has issued a landmark directive—Directive No. 1082/2025—lifting long-standing restrictions on foreign participation in export, import, wholesale, and retail trade. The move marks a significant departure from Ethiopia’s

June 13, 2025 • By Addis Insight

Business

Ethiopia Plans to Unveil 15% New Fuel and Vehicle Taxes to Bolster Public Revenue

The Ethiopian government is preparing to roll out a new set of fuel and vehicle taxes as part of a broader fiscal reform aimed at boosting domestic revenue and easing pressure on state finances. The plan includes a 15% value-added tax (VAT) on fuel, a 15% excise duty, and a newly proposed vehicle circulation tax

June 11, 2025 • By Addis Insight

Business

Ethiopia Proposes 1.93 Trillion Birr Budget for 2018 Fiscal Year

Addis Ababa — The Ethiopian federal government has presented a draft national budget of 1.93 trillion birr for the 2018 Ethiopian fiscal year, Finance Minister Ahmed Shide announced during a parliamentary session with the House of People’s Representatives. According to the breakdown of the proposed budget: Minister Ahmed stated that 1 trillion birr, or 73%

June 10, 2025 • By Addis Insight

Business

Dangote Reaffirms Investment Commitment in Ethiopia After Meeting with PM Abiy

Dangote Group Signals Renewed Commitment to Ethiopia’s Industrial Growth Following High-Level Meeting with PM Abiy Ahmed Addis Ababa, Ethiopia – June 7, 2025 In a major show of confidence in Ethiopia’s economic potential, Aliko Dangote, Africa’s richest man and Chairman of the Dangote Group, met with Prime Minister Abiy Ahmed today in Addis Ababa. The

June 7, 2025 • By Addis Insight