Business

Addis Ababa City Administration Tightens Control on Building Permits and Setback Violations

The Addis Ababa City Administration’s Construction Permit and Control Authority has issued a strict warning to developers violating the city’s building regulations, specifically related to the implementation of the Setback Act. This move follows the city administration’s cabinet decision during its 14th regular meeting on June 18 th, 2024, where several measures concerning building construction

September 26, 2024 • By Addis Insight

Business

Unlocking Ethiopia’s Gemstone Potential: Haimanot Sisay’s Journey as the First Gemstone School Founder

Haimanot Sisay’s journey from studying computer science to becoming a pioneering gemologist in Ethiopia is a compelling tale of passion, perseverance, and the transformative power of education. With a background that includes working as a flight attendant for Ethiopian Airlines and establishing her own gemstone export business, Haimanot has not only carved a niche for

September 25, 2024 • By Addis Insight

Business

Ethiopia’s Government Considers Berbera Port for Fuel Imports as Djibouti Depot Faces Capacity Declines

The Ethiopian government is awaiting a decision regarding the importation of fuel through Berbera Port in Somaliland, a move prompted by ongoing issues with fuel distribution and service capacity at the Horizon Oil Storage Depot in Djibouti. The Horizon depot has seen a reduction in service capacity, leading to disruptions in the fuel supply chain

September 25, 2024 • By Addis Insight

Business

Zemen Bank Mobilizes Over $500 Million in Foreign Currency During 2023/24 Fiscal Year

Zemen Bank has announced that it successfully mobilized over $500 million in foreign currency during the 2023/24 fiscal year. The bank reported a total of $566 million in foreign exchange mobilization, a notable achievement amid ongoing economic challenges in Ethiopia’s financial sector. Tewahido Tafesse, Chief Strategy and Marketing Officer of Zemen Bank, shared the details

September 25, 2024 • By Addis Insight

Business

Car Fuel Queues in Addis Ababa: Not a Supply Issue

Recent observations at gas stations across Addis Ababa have raised concerns about fuel availability; however, officials assert that the long lines are not due to a supply problem. Director Getachew Amonne of the Petroleum Authority announced, “We have confirmed that the rally of gasoline trucks in Addis Ababa city is not related to supply.” He

September 24, 2024 • By Addis Insight

Business

The End of an Era: Ethio Telecom Phases Out Copper for High-Speed Fiber

Ethio Telecom has announced the launch of its “Copper Switch Off” service, aimed at modernizing wired broadband internet and data-based voice services by transitioning from copper lines to fiber optics. Frehiwot Tamru, the CEO of Ethio Telecom, presented the new service to media professionals, explaining that copper technology has been a cornerstone of the telecommunications

September 24, 2024 • By Addis Insight

Business

Ethiopia Launches First-Ever Livestock Transport by Train to Djibouti

For the first time, Ethiopia has started transporting livestock by train to Djibouti. Chief Executive Officer of the Ethio-Djibouti Railway Joint Stock Company, Engineer Takele Uma, announced the launch of the railway transport service for livestock from Adama to Djibouti. Engineer Takele Uma recalled that previously, railway transport was only used for importing goods into

September 23, 2024 • By Addis Insight

Business

Meet Tayech Berihun: The Ethiopian-German Entrepreneur Empowering Kids Through LayuToys

In a world increasingly interconnected yet grappling with cultural displacement, Tayech Berihun saw an opportunity to empower children through playful learning. Her journey as the founder of LayuToys is not just about creating toys—it’s about preserving language, celebrating diversity, and fostering cultural pride in children. In this spirited interview, Tayech shares the inspiration, challenges, and

September 21, 2024 • By Addis Insight

Business

Ethiopian Airlines Celebrates 60 Years of Uninterrupted Service to Rome: A Milestone in Aviation Excellence

Addis Ababa, 20 September 2024 – Ethiopian Airlines Group, Africa’s leading aviation powerhouse, proudly celebrates six decades of uninterrupted service to Rome, Italy. In honor of this remarkable milestone, the airline hosted a vibrant event in the heart of Rome, attended by high-ranking government officials from both Ethiopia and Italy, corporate guests, and key stakeholders,

September 21, 2024 • By Addis Insight

Business

Ministry of Finance Issues New Directive on Social Development Tax Exemptions

The Ministry of Finance has recently introduced Directive No. 1023/2017, aimed at identifying goods exempt from the social development tax levied on imported items. This directive is designed to support key social sectors and provide relief for communities affected by both natural and man-made crises. Purpose of the Directive The directive outlines exemptions from social

September 21, 2024 • By Addis Insight