Business

Ethiopian Electric Power Opens $445 Million International Bid for Landmark 62-Story HQ

Addis Ababa, Ethiopia – May 19, 2025 – Ethiopian Electric Power (EEP) has launched an international pre-qualification process for the design and construction of a landmark 62-story headquarters in the heart of Addis Ababa, valued at an estimated $445 million. The mega project will rise in the city’s Mexican neighborhood, on a 20,792-square-meter plot within

May 19, 2025 • By Addis Insight

Business

Google’s NotebookLM Launches Amharic Support, Enhancing AI Accessibility in Ethiopia

In a significant stride towards inclusivity, Google has expanded its AI-powered note-taking assistant, NotebookLM, to support Amharic, Ethiopia’s official language. This development is part of a broader initiative to make advanced AI tools accessible to a more diverse global audience. NotebookLM, initially introduced as Project Tailwind, utilizes Google’s Gemini 1.5 Pro large language model to

May 16, 2025 • By Addis Insight

Business

Wegagen Capital Becomes First Trading Member of Ethiopian Securities Exchange

In a landmark moment for Ethiopia’s financial sector, Wegagen Capital Investment Bank S.C. has become the first institution to receive a Trading Membership Certificate from the Ethiopian Securities Exchange (ESX). This achievement follows the firm’s recent investment banking license from the Ethiopian Capital Market Authority (ECMA), positioning Wegagen Capital at the forefront of the country’s

May 15, 2025 • By Addis Insight

Business

President of Ethiopian Health Professionals Association and Doctors Arrested Amid Growing Tensions

The President of the Ethiopian Health Professionals Association, Ato Yonatan Daneye, along with three doctors from Arba Minch General Hospital, has been taken into police custody. This brings the total number of health professionals arrested in Addis Ababa, the Amhara Region, and the Southern Nations, Nationalities, and Peoples’ Region to five. Meanwhile, five others detained

May 12, 2025 • By Addis Insight

Business

Ethiopian Capital Market Authority Launches Probe into Unlicensed Fundraising Involving Ermias Amelga

The Ethiopian Capital Market Authority (ECMA) has initiated a formal investigation into alleged illegal fundraising activities involving well-known entrepreneur Ato Ermias Amelga and a company identified as Genesis Investment Services. In an official statement released this week, the Authority revealed that it has received multiple complaints regarding unauthorized public fundraising through the sale of securities.

May 7, 2025 • By Addis Insight

Business

National Bank of Ethiopia Sells USD at Average Rate of 132 Birr

Addis Ababa, May 7, 2025 — The National Bank of Ethiopia (NBE) sold U.S. dollars at an average exchange rate of 132.9643 birr during its most recent foreign currency auction held today, continuing its new auction-based approach to managing the country’s forex supply. According to the central bank, a total of 16 commercial banks participated

May 7, 2025 • By Addis Insight

Business

Ethiopia’s Hasab AI Launches Groundbreaking Voice Intelligence Platform for African Languages

Addis Ababa, Ethiopia — May 7, 2025 In a bold step toward tech inclusion and linguistic equity, Hasab AI, an Ethiopian startup co-founded by Kidus Yared, has officially launched a voice intelligence platform built specifically for low-resource and African languages. The announcement was made via LinkedIn, where Yared shared the team’s vision, technical breakthroughs, and

May 7, 2025 • By Addis Insight

Business

Ethiopia Ushers in New Era of Banking Reform with Basel-Aligned Capital Directive

Addis Ababa, May 7, 2025 — Ethiopia’s banking landscape is undergoing a major transformation as the National Bank of Ethiopia (NBE) unveils its most comprehensive regulatory reform yet. In a decisive move to modernize and fortify the financial sector, the NBE has issued Directive No. SBB/XX/2025, establishing Risk-Based Capital Adequacy Requirements for all banks operating

May 7, 2025 • By Addis Insight

Business

Ethiopia to Launch Unified Vehicle License Plates Featuring National Branding

Addis Ababa, Ethiopia – The Ministry of Transport and Logistics has issued a new directive mandating a nationwide overhaul of vehicle license plates, introducing a standardized design aimed at strengthening national identity and improving administrative efficiency. Under the new system, all vehicles registered in Ethiopia will adopt a uniform plate design featuring the letters “ET”

May 3, 2025 • By Addis Insight

Business

Council of Ministers Forwards Draft Proclamation on Foreign Ownership of Property to Parliament

April 23, 2017 – In its 44th regular session held today, the Council of Ministers unanimously agreed to forward a draft proclamation to the House of People’s Representatives. The draft aims to define the legal conditions under which foreigners can own or possess immovable property in Ethiopia. The proposed legislation establishes a framework that protects

May 1, 2025 • By Addis Insight