Business

MIDROC Ethiopia Expands Fleet with New Modern Aircraft

Addis Ababa, Ethiopia – March 24, 2025 MIDROC Ethiopia has added a new modern aircraft to its fleet, expanding its operational capacity in the mining and agricultural sectors. The aircraft, a Cessna Caravan X, was received today at Bole International Airport at a cost of $3.6 million, according to company officials. Speaking to ABC News,

March 24, 2025 • By Addis Insight

Business

Ethiopia Adjusts Fuel Prices Amid Global Market Pressure and Domestic Budget Realignments

Addis Ababa, March 23, 2025 — The Ministry of Trade and Regional Integration has revised fuel prices across the country, effective March 21, 2025 (Megabit 12, 2017 E.C.), citing global oil market volatility and the need to stabilize local fuel supply chains. The adjustments reflect Ethiopia’s continued efforts to reconcile international energy costs with domestic

March 23, 2025 • By Addis Insight

Business

Zemedeneh Nigatu Appointed CEO of Newly Licensed CBE Capital

Zemedeneh Nigatu, a seasoned Ethiopian-American investment advisor, has been appointed the founding Chief Executive Officer of CBE Capital S.C., following the company’s receipt of an investment banking license from the Ethiopian Capital Markets Authority (ECMA) on March 21. The license makes CBE Capital one of the country’s first officially recognized investment banks. The same day

March 23, 2025 • By Addis Insight

Business

How Investment Banks Will Unlock New Opportunities for Ethiopian Entrepreneurs

Ethiopia’s historic decision to allow investment banks in the country is a significant move that has the potential to transform its business landscape and foster economic growth. By opening up the financial sector to investment banks, Ethiopia will create a more robust and diverse financial environment, enabling businesses to access capital more efficiently, enhance corporate

March 21, 2025 • By Addis Insight

Business

Ethiopian Capital Market Authority Licenses Five New Service Providers,

Addis Ababa, Ethiopia – The Ethiopian Capital Market Authority (ECMA) marked a major milestone in the country’s financial development by granting licenses to five new capital market service providers (CMSPs) on March 21, 2025. This event increases the number of licensed CMSPs from four to nine, signaling a significant expansion in Ethiopia’s capital markets. The

March 21, 2025 • By Addis Insight

Business

Ethiopian Airlines and Etihad Airways Forge Landmark Partnership to Boost Connectivity Across Africa, the Middle East, and Asia

Addis Ababa, Ethiopia – March 19, 2025 – Ethiopian Airlines and Etihad Airways have announced a strategic Joint Business Agreement to enhance connectivity between Africa, the Middle East, and Asia. This partnership includes a codeshare arrangement and the introduction of new direct flights between Addis Ababa and Abu Dhabi, facilitating seamless travel for passengers and

March 19, 2025 • By Addis Insight

Business

Ethiopian Airlines to Launch Direct Flights to Hanoi, Vietnam

Ethiopian Airlines has officially announced the launch of four weekly flights to Hanoi, the capital city of Vietnam, set to begin on July 10, 2025. This new route is part of the airline’s ongoing expansion strategy to enhance its international network and provide more travel options between Africa and Southeast Asia. Ethiopian Airlines Group CEO,

March 19, 2025 • By Addis Insight

Business

Feres Increases Fare by 30 Birr Following Ride’s Price Adjustment

Feres, a major ride-hailing service in Ethiopia, has raised its base fare from 100 birr to 130 birr, implementing a 30 birr price increase effective this week. This adjustment comes months after Ride, another leading ride-hailing platform, increased its base fare to 130 birr, making Feres one of the last major platforms to adopt the

March 19, 2025 • By Addis Insight

Business

Moody’s Keeps Ethiopia’s Low Credit Rating—What’s Next for the Economy?

Addis Ababa, March 14, 2025 – Moody’s Ratings has completed its periodic review of Ethiopia’s sovereign credit rating, maintaining its Caa3 foreign currency and Caa2 local currency issuer ratings. The assessment underscores Ethiopia’s ongoing financial struggles, particularly in managing its external debt burden, despite recent economic reforms and financial assistance from the International Monetary Fund

March 18, 2025 • By Addis Insight

Business

Ethiopian Airlines Expands VIP Charter Services with New Boeing 737-800 Business Jet

Addis Ababa, Ethiopia – March 17, 2025 – Ethiopian Airlines, Africa’s largest and most successful airline, has taken delivery of its first Boeing 737-800 Business Jet (BBJ), marking a strategic expansion into VIP and special charter services. The newly acquired aircraft will cater to high-profile business travelers, organizations, and individuals seeking premium charter services, particularly

March 17, 2025 • By Addis Insight