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Category: Business

IMF Managing Director Kristalina Georgieva Arrives in Ethiopia for Official Visit
Business

IMF Managing Director Kristalina Georgieva Arrives in Ethiopia for Official Visit

Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has arrived in Addis Ababa for a two-day official visit aimed at strengthening economic cooperation between Ethiopia and the global financial institution. During her visit, Ms. Georgieva is scheduled to meet with Prime Minister Abiy Ahmed and senior government officials to discuss Ethiopia’s economic

February 8, 2025 • By Addis Insight
As Digital Banking Rises, Are Ethiopian Banks Cutting Back on Branches?
Business

As Digital Banking Rises, Are Ethiopian Banks Cutting Back on Branches?

Paperless banking has become a global trend, with financial institutions transitioning to digital transactions for greater efficiency, security, and sustainability. Many countries have embraced digital banking, mobile payments, and blockchain technology to reduce reliance on physical paperwork. In Ethiopia, banks are steadily digitizing their operations, paving the way for a fully paperless banking experience. Leading

February 6, 2025 • By Addis Insight
Arat Kilo Plaza Underground Passage and Recreation Area Officially Opens
Business

Arat Kilo Plaza Underground Passage and Recreation Area Officially Opens

Addis Ababa, Ethiopia – The Arat Kilo Plaza Underground Passage and Recreation Area has officially been inaugurated and is now open to the public, marking a significant milestone in the city’s urban development. This newly completed infrastructure is part of Addis Ababa’s corridor development projects, designed to enhance the city’s social and economic landscape while

February 5, 2025 • By Addis Insight
Ethiopia Plans Four New Expressways to Boost Connectivity from Addis Ababa
Business

Ethiopia Plans Four New Expressways to Boost Connectivity from Addis Ababa

January 28, 2017 (Ahadu Radio) – Ethiopia is setting the stage for a transformative infrastructure upgrade with the planned construction of four new expressways extending from Addis Ababa. The Ethiopian Roads Administration has announced that a comprehensive study is currently underway to determine the feasibility and design of these ambitious road projects. The proposed expressways

February 5, 2025 • By Addis Insight
Ethiopian Capital Market Authority Issues Compliance Directive for Public Companies
Business

Ethiopian Capital Market Authority Issues Compliance Directive for Public Companies

Addis Ababa, February 4, 2025 — The Ethiopian Capital Market Authority (ECMA) has issued a public notice requiring all publicly held companies in Ethiopia to submit detailed information about their existing shares. This move follows the enactment of the Public Offer and Trading of Securities Directive No. 1030/2024, which took effect on November 13, 2024.

February 4, 2025 • By Addis Insight
Ethiopia and Russia Expand Non-Dollar Trade Amid Potential U.S. Tariffs
Business

Ethiopia and Russia Expand Non-Dollar Trade Amid Potential U.S. Tariffs

Ethiopia has strengthened its economic ties with Russia by reaching a new trade agreement that allows transactions in their respective national currencies, bypassing the US dollar. This move is part of Ethiopia’s broader strategy to address its persistent foreign currency shortages while deepening trade relations with global partners outside the Western financial system. The agreement

February 3, 2025 • By Addis Insight
Addis Ababa Revenue Bureau Establishes Quality Assurance Unit for Tax Audits
Business

Addis Ababa Revenue Bureau Establishes Quality Assurance Unit for Tax Audits

The Addis Ababa City Administration Revenue Bureau has announced the establishment of a new quality assurance unit to enhance the accuracy and fairness of tax audit decisions. This unit will be responsible for re-auditing tax assessments to ensure their quality and correctness. The newly formed unit aims to review audit decisions that were previously solely

February 3, 2025 • By Addis Insight
Commercial Bank of Ethiopia Surpasses 1.4 Trillion Birr in Total Deposits
Business

Commercial Bank of Ethiopia Surpasses 1.4 Trillion Birr in Total Deposits

The Commercial Bank of Ethiopia (CBE) has achieved a significant milestone, with its total deposits exceeding 1.4 trillion birr. This accomplishment was announced during the bank’s half-year performance review for the 2017 fiscal year, highlighting its robust financial growth and operational efficiency. In the first six months of the fiscal year, the CBE successfully mobilized

February 3, 2025 • By Addis Insight
Ethiopian Shipping and Logistics Reports 9.3 Billion Birr Profit in the First Half of the Fiscal Year
Business

Ethiopian Shipping and Logistics Reports 9.3 Billion Birr Profit in the First Half of the Fiscal Year

Addis Ababa, Ethiopia – Ethiopian Shipping and Logistics (ESL) has recorded a 9.3 billion birr profit in the first half of the 2024/25 fiscal year, significantly exceeding its initial financial projections. As Africa’s only deep-sea shipping operator, ESL continues to strengthen its foothold in the maritime logistics industry, contributing to Ethiopia’s trade and economic growth.

February 3, 2025 • By Addis Insight
Ethiopia to Lift Lending Cap by September, Paving the Way for Credit Expansion
Business

Ethiopia to Lift Lending Cap by September, Paving the Way for Credit Expansion

Ethiopia is set to remove its two-year-old lending cap by September 2025, a major shift aimed at stimulating credit growth and supporting economic expansion. The move, announced in the latest International Monetary Fund (IMF) review of Ethiopia’s economic reform program, is part of broader efforts to modernize the country’s financial sector and transition toward a

February 3, 2025 • By Addis Insight