Business

IMF Calls for More Increases in Ethiopia’s Electricity Tariffs Amid Economic Reforms

Partners are calling for additional revisions to address currency rate fluctuations, despite the government’s recent implementation of a long-awaited electricity tariff adjustment in June 2024. On June 20, 2024, the Council of Ministers approved a new power rate adjustment during its 36th regular meeting, which came into effect on September 11, coinciding with the Ethiopian

January 22, 2025 • By Addis Insight

Market

Ethiopia’s Debt Reaches $68.86 Billion: What’s Next

Ethiopia’s Debt Reaches $68.86 Billion: Insights from the Ministry of Finance Ethiopia’s public debt has reached a total of $68.86 billion by June 2024, according to the Ministry of Finance’s recently released Public Sector Debt Portfolio Analysis No. 25. This figure represents 32.9% of the nation’s GDP, marking a decline from 57.2% in 2019, signaling

January 21, 2025 • By Addis Insight

Business

Ethiopia’s Coffee Exports Hit $988 Million in Six Months, Powered by Nekmet’s Global Surge

Key Takeaways Ethiopia’s Coffee Boom Ethiopia’s coffee industry is enjoying a remarkable run, posting robust gains in both export volume and earnings over the past six months. According to the Ethiopian Coffee and Tea Authority, the country shipped 240,260 tons of coffee—far outpacing the official target of 133,063 tons—and generated $988 million in revenue, well

January 21, 2025 • By Addis Insight

Business

Ethiopian Airlines Honors Visionary Leaders Behind Its Success

Ethiopian Airlines, Africa’s largest and most successful airline, hosted a grand recognition and award ceremony to honor the distinguished former leaders who have significantly contributed to shaping its legacy. These leaders, who served as General Managers and CEOs, were instrumental in transforming Ethiopian Airlines into a globally recognized carrier. The honorees included Colonel Semret Medhane,

January 18, 2025 • By Addis Insight

Business

How to Calculate Property Tax in Ethiopia

The Ethiopian government’s new property tax law has sparked widespread debate, with opposition parties and members of the business community firmly condemning the move. This article explores the key provisions of the tax, its intended use, and the concerns it has raised. Overview of the Property Tax Bill On January 14, 2025, the Ethiopian House

January 18, 2025 • By Addis Insight

Business

IMF Completes Second ECF Review for Ethiopia, Approves US$248 Million Disbursement

The International Monetary Fund (IMF) Executive Board has completed the second review under the Extended Credit Facility (ECF) arrangement for Ethiopia, enabling the immediate disbursement of approximately US$248 million (SDR 191.7 million). This brings total disbursements under the program to about US$1.611 billion since its approval in July 2024. The four-year ECF arrangement supports Ethiopia’s

January 18, 2025 • By Addis Insight

Business

IMF Completes Second ECF Review for Ethiopia, Approves US$248 Million DisbursementJanuary 17, 2025 | Washington, D.C.

The International Monetary Fund (IMF) Executive Board has completed the second review under the Extended Credit Facility (ECF) arrangement for Ethiopia, enabling the immediate disbursement of approximately US$248 million (SDR 191.7 million). This brings total disbursements under the program to about US$1.611 billion since its approval in July 2024. The four-year ECF arrangement supports Ethiopia’s

January 18, 2025 • By Addis Insight

Business

IMF to Decide on Ethiopia’s $3.4 Billion Program, Unlocking $250 Million Boost

Addis Ababa – The International Monetary Fund (IMF) Executive Board is set to meet on Friday, January 17, 2025, to evaluate Ethiopia’s progress under its $3.4 billion Extended Credit Facility (ECF) program. If approved, the second review could unlock over $250 million in funding, providing a significant boost to Ethiopia’s ongoing economic reform efforts. This

January 17, 2025 • By Addis Insight

Business

FirstBank Expresses Interest in Entering Ethiopia’s Financial Market

In a move that highlights the growing appeal of Ethiopia’s financial sector, FirstBank, one of Nigeria’s leading financial institutions, has announced its intention to expand into the Ethiopian market. This decision follows Ethiopia’s recent efforts to liberalize its banking industry, opening the door for foreign players to establish a presence in the country. Speaking to

January 16, 2025 • By Addis Insight

Business

TikTok Ban Threat: Will Ethiopian Creators Lose Their Diaspora

TikTok, one of the most popular social media platforms globally, is facing a potential ban in the United States. The Supreme Court is preparing to uphold the removal of TikTok from Apple and Android app stores unless its parent company, ByteDance, sells its US operations by January 19. This drastic move has sparked debates about

January 16, 2025 • By Addis Insight