Business

Commercial Bank of Ethiopia Disburses $122.5 Million to Customers to Support Import Trade

Addis Ababa, March 26, 2017 – The Commercial Bank of Ethiopia (CBE) has announced the disbursement of $122.5 million in foreign exchange to its customers to support the country’s import trade. This move is part of the bank’s ongoing efforts to ensure the smooth functioning of Ethiopia’s foreign exchange market and to meet the increasing

April 4, 2025 • By Addis Insight

Business

The 2025 Billionaires Breakdown: Tech Titans, Finance Moguls, and the Sectors Shaping Global Wealth

The 2025 Forbes World’s Billionaires List, published on April 1, 2025, provides a comprehensive overview of global wealth, identifying 3,028 billionaires with a collective net worth of $16.1 trillion. This marks a significant increase from 2024, with 247 more billionaires and a $2 trillion rise in total wealth. Below is an in-depth breakdown of the

April 4, 2025 • By Addis Insight

Business

Ethiopian Airlines Expands Global Reach with the Launch of Macao Cargo Route

Ethiopian Airlines, Africa’s leading airline and a key player in global air transportation, has announced the launch of its new cargo route to Macao. This expansion comes as part of the airline’s ongoing efforts to strengthen its global network and provide efficient and reliable solutions for international trade. With two weekly flights and an impressive

April 3, 2025 • By Addis Insight

Business

Chapa Enabled Millions of Ethiopians to pay and receive their National ID seamlessly in less than a year.

Addis Ababa, Ethiopia – April 3, 2025 Ethiopian fintech company Chapa partnered with the Ethiopian Postal Service and the National ID (Fayda) platform, marking a significant milestone in the country’s push toward digitized public service delivery. The partnership allows citizens to request their National ID cards online, pay securely via Chapa’s gateway, and collect their

April 3, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Posts Record 32.6 Billion Birr Profit

Addis Ababa, Ethiopia – April 3, 2025 — The Commercial Bank of Ethiopia (CBE), the nation’s largest state-owned bank, has reported a staggering 32.6 billion birr profit in just the past eight months, marking a 170.5% surge compared to the same period last year, according to the bank’s president, Abe Sano. The announcement came during

April 3, 2025 • By Addis Insight

Business

President Trump Implements 10% Tariffs, Impacting Ethiopia and Other Nations

April 2, 2025 In a bold move to overhaul U.S. trade relations, President Donald Trump announced a comprehensive set of tariffs on April 2, 2025, marking the day as “Liberation Day.” The new tariffs aim to address longstanding trade imbalances and promote domestic manufacturing. Key Components of the Tariff Strategy: Impact on Ethiopia: Ethiopia, along

April 3, 2025 • By Addis Insight

Business

Saudi Billionaires Reinstated on Forbes List After 8 Years – But Mohammed Al Amoudi Still Left Out

In a surprising yet symbolic development, Forbes has reinstated 15 Saudi billionaires in its 2025 World’s Billionaires List after an eight-year exclusion that began in 2018. The move signals a thaw in the opacity that once surrounded the Kingdom’s financial elite following the sweeping 2017 anti-corruption purge. However, while the list now features a new

April 2, 2025 • By Addis Insight

Business

National Bank of Ethiopia to Launch Regular Foreign Exchange Auctions

Addis Ababa, March 31, 2025 – The National Bank of Ethiopia (NBE) has announced the launch of a bi-weekly foreign exchange auction system aimed at strengthening the country’s foreign exchange market and supporting macroeconomic stability. Starting April 1, 2025, the central bank will conduct foreign exchange (FX) auctions every two weeks, providing the private sector

March 31, 2025 • By Addis Insight

Business

Adey Ababa Stadium to Be Fully Completed with 19 Billion Birr Investment

Addis Ababa – March 31, 2025 In a groundbreaking development for Ethiopia’s sports infrastructure, the Ministry of Culture and Sports has officially signed a contract worth 19 billion birr to fully complete the Adey Ababa Stadium, one of the country’s most anticipated national projects. The agreement was signed today between the Ministry, represented by Minister

March 31, 2025 • By Addis Insight

Business

Foreign Banks Can Now Enter Ethiopia—But It’ll Cost 5 Billion Birr

Foreign Banks Welcome, But on Strict Terms: Ethiopia’s Central Bank Issues Landmark Directive Reshaping Banking Sector Addis Ababa, Ethiopia — March 31, 2025 The National Bank of Ethiopia (NBE) has unveiled a sweeping new directive titled “Requirements for Licensing and Renewal of Banking Business and Representative Office Directive No. SBB/XX/2025”, marking a historic shift in

March 31, 2025 • By Addis Insight