Business

Behind the Fintech Boom: Ethiopian Fintech’s Untold Challenges

Ethiopia’s Financial Technology (fintech) sector is on a promising upward trajectory, driven by innovative products and a growing appetite for digital solutions. Mobile wallets, online banking, and digital payment platforms are transforming the way people transact, making financial services more accessible than ever before. From peer-to-peer transfers to bill payments, fintech is reshaping how individuals

December 19, 2024 • By Addis Insight

Africa News

Ethiopian Cargo Expands Fleet with Two Boeing 767 Freighters to Meet Growing Demand

Addis Ababa, — Ethiopian Cargo and Logistics Services has announced the addition of two Boeing 767 freighters, ET-BBE and ET-BBF, to its growing fleet. This move marks a significant enhancement in the airline’s capacity to meet the surging global demand for air cargo services. With the addition of the two aircraft, Ethiopian Cargo now

December 17, 2024 • By Addis Insight

Business

Digital Money Transfers Surpass Cash Transactions in Ethiopia, Says National Bank Governor

On December 17, 2024, the Governor of the National Bank of Ethiopia (NBE), Mamo Miheret, addressed the House of People’s Representatives, highlighting the increasing digitization of the country’s financial system. According to his statement, digital money transfers facilitated by banks have now exceeded cash transactions this year. Governor Mamo noted that Ethiopia’s banking activities are

December 17, 2024 • By Addis Insight

Business

NBE’s Landmark Proclamation Ushers in Bold Reforms for Monetary and Financial Stability

In a major stride toward modernizing Ethiopia’s financial landscape, the National Bank of Ethiopia (NBE) has secured approval for its draft proclamation, introducing transformative reforms aimed at ensuring economic stability, innovation, and stronger governance. At the heart of the proclamation is a recalibrated monetary policy framework, empowering the NBE to prioritize its objectives and deploy

December 17, 2024 • By Addis Insight

Business

Ethiopian Airlines Celebrates Air Congo’s Launch Tomorrow as Second Boeing 737 Lands in Kinshasa

Kinshasa, DR Congo – Ethiopian Airlines, Africa’s largest carrier, is ushering in a new era of aviation with the launch of Air Congo, a joint venture with the Democratic Republic of Congo (DRC). The airline’s second Boeing 737-800 touched down at Kinshasa International Airport yesterday, signaling the final preparations for Air Congo’s official debut. The

December 15, 2024 • By Addis Insight

Business

East Africa Electric Highway Begins Trial Supply from Ethiopia to Tanzania

The East Africa Electric Highway project, a pivotal power infrastructure initiative among Ethiopia, Kenya, and Tanzania, has entered a new phase with the official commencement of trial power supply from Kenya to Tanzania. This achievement builds on Ethiopia’s broader ambition to establish itself as a renewable energy hub in East Africa. Key Developments in the

December 15, 2024 • By Addis Insight

Business

Amid Severe Challenges, Bunna Bank Delivers 930.1 Million Birr Profit and 20% Growth in Deposits

In a year marked by economic hurdles, Bunna Bank S.C. has demonstrated remarkable resilience, reporting a pre-tax profit of 930.1 million birr for the fiscal year. Despite the challenges posed by high inflation, foreign exchange shortages, regulatory complexities, and regional conflicts, the bank managed to maintain a solid financial standing. Key highlights from the bank’s

December 15, 2024 • By Addis Insight

Business

Ethiopian Airlines Flight to Dubai Returns Safely to Addis Ababa After Technical Issue

Addis Ababa, December 14, 2024 – Ethiopian Airlines flight ET 612, en route from Addis Ababa to Dubai, experienced a technical issue approximately 30 minutes after takeoff. Following standard safety protocols, the aircraft returned to Addis Ababa and landed safely without incident. All passengers and crew were evacuated promptly and safely as a precautionary measure,

December 15, 2024 • By Addis Insight

Business

Addis Ababa Mandates Full Nighttime Lighting on Main Roads

The Addis Ababa City Administration Cabinet held its 4th regular meeting today, during which several important decisions were discussed and approved to improve services and city management. Key Resolutions: A regulation aimed at preventing pollution in rivers and along riverbanks has been approved. This measure is intended to benefit public health and enhance the city’s

December 14, 2024 • By Addis Insight

Business

The Controversial Minimum Salary Floor for Hospitality and Service Sectors Set by Addis Ababa Revenue Bureau

“There is a ridiculous difference between what is paid and what they say they will pay,” said the Addis Ababa Revenue Bureau in a recent statement that has stirred legal debates and ignited public discourse on wage disparity and tax collection methods in Ethiopia. In a move aimed at improving payroll tax compliance, the Addis

December 14, 2024 • By Addis Insight