Business

Ethiopian Airlines Boosts Connectivity: 10 Weekly Flights to Guangzhou

Ethiopian Airlines, Africa’s largest and fastest-growing airline, has announced a significant expansion of its flight services to China. As of September 26, 2024, the airline has increased its weekly passenger flights to Guangzhou, one of China’s major commercial hubs, from seven to 10 flights. This strategic move reflects the airline’s continued efforts to meet the

September 20, 2024 • By Addis Insight

Business

EthioTelecom Aims to Expand Telebirr Service to 55 Million Subscribers by 2025

EthioTelecom, a cornerstone of Ethiopia’s telecommunications industry for over 130 years, has unveiled ambitious plans for the 2024/25 fiscal year, entering the third year of its LEAD growth strategy. While the company has played a pivotal role in the nation’s socio-economic development, its current focus shifts to accelerating Ethiopia’s digital transformation, with Telebirr mobile money

September 19, 2024 • By Addis Insight

Business

Ethiopian Airlines to Make History with Africa’s First Airbus A350-1000 Arrival in October

Ethiopian Airlines is poised to make history with the delivery of the Airbus A350-1000, scheduled for October. This landmark event will see Ethiopian Airlines become the first African carrier to operate this state-of-the-art aircraft, underscoring its leadership role in the continent’s aviation sector. The Airbus A350-1000 is a cutting-edge addition to the A350 family, designed

September 18, 2024 • By Addis Insight

Business

Ethiopian Birr Loses Ground: Hits 132 in Black Market After Currency Liberalization

The Ethiopian birr recorded another fall against the U.S. dollar in the black market today, continuing a troubling trend that began last month following the Ethiopian government’s announcement of macroeconomic reforms and the liberalization of the foreign exchange market. The birr has dropped to 132 birr per dollar in the parallel market. The government had

September 18, 2024 • By Addis Insight

Business

From Binance’s Legal Drama to Ethiopia’s Crypto Surge: Exploring Africa’s New Blockchain Hub

By– Edomiya Girmay The rise of Web 3.0 marks a major shift in the digital landscape. Built on the foundation of decentralization, Web 3.0 aims to give users more control over their data by eliminating intermediaries, which is made possible by blockchain technology. Blockchain, created to ensure transparent, secure, and decentralized record-keeping, has been essential

September 17, 2024 • By Addis Insight

Africa News

Djibouti Confirms: Tajura Port to be Jointly Managed, Not Handed Over to Ethiopia

Djibouti has stated that it will not hand over Tajura Port to Ethiopia but will instead jointly manage it. An agreement has been reached to develop a port where Ethiopia can import fuel. The Minister of Foreign Affairs of Ethiopia has stated that the government of Djibouti did not propose to hand over or sell

September 15, 2024 • By Addis Insight

Business

Ethiopian Airlines Expands African Network with Daily Service to Port Sudan

Ethiopian Airlines is delighted to announce the launch of a daily flight service to Port Sudan, Sudan, commencing on October 15, 2024. This strategic expansion further strengthens Ethiopian’s commitment to enhancing connectivity across the African continent and beyond, fostering regional socio-economic growth and facilitating trade and tourism. The new route will provide seamless travel options

September 14, 2024 • By Addis Insight

Business

Dr. Yohannes Ayalew Appointed CEO of Amhara Bank

Dr. Yohannes Ayalew has been appointed as the new CEO of Amhara Bank , effective September 13, 2024. This announcement came following his voluntary resignation from his previous role as the President of the Ethiopian Development Bank (DBE). Dr. Yohannes’ tenure at the Ethiopian Development Bank began on September 12, 2020. He succeeded Haileyesus Bekele,

September 13, 2024 • By Addis Insight

Business

Ethiopia’s Economic Crossroads: Navigating Reforms Amidst Financial Turmoil

By- Fahad Garba Aliyu Ethiopia has reached a critical juncture, closing its currency at a surprisingly pivotal moment, a decision rooted in decades of economic choices. Over the past twenty years, Ethiopia has financed its development primarily through heavily leveraged capital from international markets. While borrowing in itself is not inherently problematic, the issues arose

September 13, 2024 • By Addis Insight

Business

Ethiopia’s Banking Sector Reaches Trillion-Birr Milestone: A Financial Achievement in 2016

Ethiopia’s financial sector has remained robust by all standards over the last fiscal year, according to recent reports. A few months ago, the National Bank of Ethiopia (NBE) released its first Financial Sector Stability Report, highlighting the sector’s health. However, the report also noted the emergence of certain risks, stressing the need for vigilance and

September 12, 2024 • By Addis Insight