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

Business

Why Ethiopian Import and Export Traders Are Reluctant to Take Dollars from Banks Despite Cash Availability at Lower Rates

Despite a recent foreign exchange reform by the National Bank of Ethiopia (NBE) and substantial dollar allocations by the Commercial Bank of Ethiopia (CBE), Ethiopian import and export traders remain reluctant to access foreign currency from banks. Between July 22, 2024, and September 30, 2024, CBE distributed over USD 282 million across various sectors, yet

October 14, 2024 • By Addis Insight

Business

Ethio Telecom to Offer 10% Stake to Local Investors via TeleBirr App

Ethio Telecom, the state-owned telecommunications company, has been granted a broker license by the Capital Markets Authority of Ethiopia, enabling the company to sell 10% of its stake directly to local investors through its TeleBirr application. This initiative marks a shift from the previously planned method of selling shares through the Ethiopian Securities Market. According

October 13, 2024 • By Addis Insight

Business

Ethiotelecom’s 10% Public Share Sale: A Turning Point for Ethiopia’s Telecom Market

Ethiotelecom, Ethiopia’s state-owned telecommunications giant, has announced plans to begin selling 10 percent of its shares to the public. This marks a historic moment in the company’s 130-year legacy of providing cutting-edge telecom services across the country. The sale, which is set to commence on Wednesday, October 23 , 2024, follows the government’s recent decision

October 12, 2024 • By Addis Insight

Business

Commercial Bank of Ethiopia Allocates Over USD 282 Million in Foreign Exchange After Major Reform

Commercial Bank of Ethiopia Allocates Over USD 282 Million in Foreign Exchange After Major Reform Addis Ababa, Ethiopia — July 22, 2016 Following the National Bank of Ethiopia’s (NBE) overhaul of the foreign exchange management system, the Commercial Bank of Ethiopia (CBE) has announced the distribution of over USD 282 million to various sectors between

October 11, 2024 • By Addis Insight

Business

Ethiopia to Introduce Mandatory Licensing for Real Estate Valuers, Enhancing Market Trust

Ethiopia is set to introduce a mandatory licensing system for real estate valuers as part of its new Real Estate Development and Immovable Property Transaction and Valuation Bill. The primary goal of this new regulation is to establish a more transparent, reliable, and professional property valuation process in the country. By ensuring that only certified

October 11, 2024 • By Addis Insight