Business

Addis Insight Launches Exclusive Birr Exchange Rate Plugin & Converter

Now Offering the Best Daily Exchange Rates—Exclusively for Addis Insight Users – – Addis Insight is proud to introduce its enhanced Birr Exchange Rate WordPress Plugin & Birr Converter, designed exclusively for Addis Insight’s platform. This powerful tool ensures users always get the best exchange rate of the day by automatically

January 12, 2025 • By Addis Insight

Business

Wegagen Bank Becomes First Company Listed on Ethiopian Stock Exchange

Addis Ababa, January 10, 2025 – Wegagen Bank has officially become the first company to list on the Ethiopian Stock Exchange (ESX), marking a historic milestone in Ethiopia’s financial sector. The announcement was made during the ESX launch ceremony at the Science Museum in Addis Ababa, attended by Prime Minister Abiy Ahmed (PhD) and other

January 11, 2025 • By Addis Insight

Business

Ethiopia Launches the Ethiopian Securities Exchange (ESX)

Addis Ababa, January 10, 2025 (FM C) – Ethiopian Prime Minister Abiy Ahmed (PhD) has officially launched the Ethiopian Securities Exchange (ESX), marking a significant milestone in the country’s financial sector. In a statement shared on his social media platform, the Prime Minister declared: “In a historic step for our economy and financial system, we

January 10, 2025 • By Addis Insight

Business

Import Substitution: The Key to Ethiopia’s Economic Resilience Amid Floating Exchange Crisis?

On Tuesday, fuel prices surged, a sharp reminder of the turbulent waves unleashed by Ethiopia’s shift to a floating exchange rate. This unshackled currency now dances to the unpredictable tune of market forces, sending shockwaves through industries and households alike. Importers grapple with relentless cost hikes, while exporters cautiously savor the promise of a level

January 10, 2025 • By Addis Insight

Business

House of Representatives Passes Law to Close Legal Loophole in Government and Public Property Restitution

The House of People’s Representatives has approved a new Property Restitution Law, designed to close legal loopholes in the recovery of government and public assets. During its 14th regular session held today, the House reviewed the draft law and considered the report and recommendations presented by the Standing Committee on Legal and Justice Affairs. Following

January 9, 2025 • By Addis Insight

Business

Ethiopia Faces Fuel Distribution Crisis with Fewest Gas Stations Per Capita in Africa

The House of Peoples’ Representatives has approved a draft proclamation aimed at regulating the trade of petroleum products in Ethiopia. The report, presented by the Standing Committee on Trade and Tourism Affairs, was reviewed and passed with two votes in favor and one against. During the session, Sahrela Abdulahi, Director General of the Petroleum and

January 9, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Reports 5.3 Trillion Birr in Digital Transactions in Six Months

The Commercial Bank of Ethiopia (CBE) has announced that it processed 5.3 trillion Birr through its digital banking services in the first half of the current fiscal year, highlighting the growing adoption of digital financial solutions in the country. According to the bank, 79 percent of all money transfer transactions are now conducted via digital

January 8, 2025 • By Addis Insight

Business

Air Arabia Introduces Direct Flights to Addis Ababa

Air Arabia has announced the launch of its latest direct flight service to Addis Ababa, Ethiopia’s capital, further expanding its global network. Starting January 30, the airline will operate three weekly flights between Sharjah International Airport and Addis Ababa Bole International Airport, with departures scheduled on Tuesdays, Thursdays, and Saturdays. Adel Al Ali, Group Chief

January 8, 2025 • By Addis Insight

Business

Ethiopia Adjusts Retail Fuel Prices Amid Market Changes

Addis Ababa, Ethiopia – January 7, 2025 The Ethiopian Ministry of Trade and Regional Integration has announced an adjustment in the retail prices of petroleum products, effective from January 7, 2025 (Tahsas 29, 2017 Ethiopian Calendar), at midnight (12:00 AM). The revised prices apply to Addis Ababa and will remain in effect for the next

January 8, 2025 • By Addis Insight

Business

WIDU.Africa: Unlocking Entrepreneurial Potential in Ethiopia through Diaspora Collaboration

In a world increasingly focused on harnessing technology to bridge economic divides, WIDU.Africa stands out as an innovative platform transforming how diaspora communities contribute to the development of their countries of origin. Launched in Ethiopia in August 2021, WIDU.Africa connects Ethiopian entrepreneurs with members of the African diaspora in Europe, creating a collaborative framework that

January 6, 2025 • By Addis Insight