Business

Zemen Bank Achieves Record 3.77 Billion Birr Profit Amid Economic Challenges

Zemen Bank has reported a significant profit of 3.77 billion birr for the 2023 fiscal year, marking a milestone achievement in its 16th Annual General Meeting. The bank’s president, Dereje Zebene, highlighted the performance, emphasizing the bank’s growth amidst a challenging economic environment. The profit per share for shareholders stood at an impressive 37.6%, reflecting

October 19, 2024 • By Addis Insight

Business

Cameroonian Prof. Kelly Kingly Succeeds Ethiopian Dr. Yohannes Biru  as  ATIDI’s  New Board Chairman

·       At its recently concluded Board Meeting, Professor Kelly Mua Kingsley was elected as the new Chair of the Board and Ms. Christina Westholm- Schröder was elected as the new Vice Chair of the Board. ·       ATIDI was recently upgraded by Moody’s from A3/Positive to A2/Stable – while S&P affirmed its A/Stable rating, reflecting the organization’s strong

October 18, 2024 • By Addis Insight

Business

Navigating Dubai’s Real Estate Market: Insights from Ethiopian Property Consultant Samrawit A. Kassaye

As an Ethiopian who has successfully transitioned into Dubai’s highly competitive real estate industry, Samrawit A. Kassaye offers a unique perspective on navigating this dynamic market. With a passion for real estate sparked at a young age, Samrawit’s career journey is an inspiring tale of perseverance, strategic thinking, and deep industry knowledge. Her insights into

October 18, 2024 • By Addis Insight

Business

Don’t Confuse Ethio Telecom with GERD Bonds: The Investment You Need to Understand

By- Tsegamlak Solomon Ethio Telecom is Not GERD: Your Money is Not a Matter of Patriotism! Misguided Patriotism in the Ethio Telecom IPO Following the announcement of the Ethio Telecom IPO, several media outlets, particularly government-affiliated ones, have been framing the sale of shares as a matter of national pride and patriotism. While such enthusiasm

October 17, 2024 • By Addis Insight

Business

Venture Meda Program Unveils Expert-Led Online Learning Bot to Empower Entrepreneurs, Marketplaces, and Gig Workers

 Addis Ababa, 17/10/2024  Venture Meda Program is proud to announce the official launch of the Venture Meda Learning Bot, a new Learning Management System (LMS) and e-learning platform. This is an iceaddis initiative a partnership between Iceaddis, the Ministry of Innovation and Technology, and the Mastercard Foundation, aimed at boosting the digital economy by aiding

October 17, 2024 • By Addis Insight

Business

How Ethiopia Can Achieve 4% Growth by 2026: World Bank’s Insights on Inflation, Currency, and Investment

Ethiopia, like much of Sub-Saharan Africa, is navigating a complex economic landscape shaped by inflation, fiscal challenges, and the need for human capital development. The World Bank’s latest Africa’s Pulse report provides insights that are crucial for understanding Ethiopia’s economic prospects, particularly in light of inflationary pressures, exchange rate volatility, and the need for strategic

October 17, 2024 • By Addis Insight

Business

Ethiopian Airlines Flight Lands Safely After Smoke Incident

Addis Ababa, October 16, 2024 – Ethiopian Airlines has confirmed that flight ET248, en route from Addis Ababa to Dire Dawa, successfully landed at Dire Dawa Airport after smoke was noticed during the plane’s descent. Despite the unsettling situation, the airline assured that all passengers were disembarked safely and without incident. The source of the

October 16, 2024 • By Addis Insight

Business

Ethiopian Airlines Launches New Passenger Service to Port Sudan

Addis Ababa, 15 October 2024 – Ethiopian Airlines, Africa’s largest airline and a leading global carrier, has officially commenced its new passenger service to Port Sudan, marking an expansion of its extensive African network. The inaugural flight departed from Addis Ababa’s Bole International Airport today, following a ceremony attended by officials from the Republic of

October 16, 2024 • By Addis Insight

Business

Arkebe Oqubay Co-Edits Oxford Handbook on Greening Economic Development, Scheduled for Release in May 2025

Ethiopian policymaker and scholar Arkebe Oqubay is co-editing a significant new volume, The Greening of Economic Development: A Global Industrial Revolution, scheduled for release on May 15, 2025. Co-edited with John A. Mathews, the book offers a comprehensive exploration of how economic growth can align with environmental sustainability, focusing on renewable energy, circular resource flows,

October 16, 2024 • By Addis Insight

Business

From Kenya to Ethiopia: M-PESA Enhances Mobile Money Transactions

M-PESA Kenya has extended its mobile money services to Ethiopia, enabling seamless transactions between the two countries via M-PESA Global. This initiative is designed to increase mobile money adoption in Ethiopia, stimulate the local economy, and create new opportunities for both individuals and businesses. “This collaboration supports our commitment to providing innovative financial solutions tailored

October 14, 2024 • By Addis Insight