Business

Kasanchis Area Set for Demolition as PM Abiy Expands Corridor Projects

In a recent ceremony recognizing the completion of the first phase of the Addis Ababa Corridor Project, Prime Minister Abiy Ahmed announced the upcoming demolition of the Kasanchis area as part of the city’s ongoing urban transformation efforts. The demolition is part of a broader initiative aimed at modernizing key infrastructure and improving connectivity throughout

September 5, 2024 • By Addis Insight

Business

Ethiopia Adjusts Power Tariffs to Meet IMF Goals, Effective This New Year

The adjustment made to the electricity service tariff, set to take effect starting from the upcoming New Year, aligns with requirements set forth by the International Monetary Fund (IMF). It is recalled that on Wednesday, September 6, 2023, the Council of Ministers approved the adjustment to the electricity service tariff on June 20, 2023. Following

September 4, 2024 • By Addis Insight

Business

Tadele Gemechu’s Acquisition of Eneredada Union Properties Raises Questions Over Land Transfers

Two plots of land taken from the Consumers’ Association for development have been put up for sale by the new owners through a broker. According to information reported by Meseret Media, two plots of land that were taken from the Consumers’ Association in the Bole Atlas area and given to an individual and another organization

September 4, 2024 • By Addis Insight

Business

Why I’m Betting Safaricom Will Fail in Ethiopia

Lelaw Wondimu And How I am getting the Ultimate #SufferingCom Experience It was promising when it started—the speed, the consistency—I could have said it was like love at first byte. I used Safaricom Telecommunications Ethiopia PLC data packages here and there whenever my ethio telecom connection was down. I loved the consistency so much that

September 3, 2024 • By Addis Insight

Business

Ethiopian Airlines Suspends Asmara Flights Following Eritrean Government Directive Announced Today

Addis Ababa, September 2, 2024 – In a significant development that has raised concerns across the region, Ethiopian Airlines has suspended all flights to and from Asmara, effective September 3, 2024. The suspension follows mounting operational challenges in Eritrea, compounded by a government directive that has brought the airline’s operations to a halt. The Civil

September 2, 2024 • By Addis Insight

Business

Tinsae G. Mekonnen Launches “Dubai Decoded Vol.02” – Your Ultimate Guide to Thriving in Dubai’s Job Market

Dubai, United Arab Emirates – September 2, 2024 – Tinsae G. Mekonnen, an Ethiopian marketing professional based in Dubai, has just released the highly anticipated “Dubai Decoded Vol.02.” This second edition of her guidebook builds on the success of the first volume, offering an in-depth exploration of Dubai’s dynamic job market, personal branding, and freelancing

September 2, 2024 • By Addis Insight

Business

National Bank Opens Doors for Foreigners to Hold Dollar Accounts Amid Ethiopia’s Currency Reforms

The National Bank of Ethiopia has announced that it has completed the process of granting permission to Foreign Exchange Offices, a move that comes in the wake of Ethiopia’s decision to float its currency, the Birr. The National Bank of Ethiopia also announced that it is now accepting more individuals and companies, allowing entities previously

September 1, 2024 • By Addis Insight

Africa News

Ethiopian Airlines Given Three-Week Deadline by Somaliland to Restore Its Name on Flight Destinations

Somaliland Gives Two Airlines a Deadline to List Its Name on Their Flights Authorities in Somaliland have given Ethiopian Airlines and Flydubai a three-week grace period to re-register Somaliland’s name on flights to Hargeisa and Berbera. This directive was issued by the Civil Aviation and Airports Authority in Somaliland. However, the statement did not specify

August 30, 2024 • By Addis Insight

Business

National Bank of Ethiopia and Mastercard Foundation Launch Comprehensive Financial Education Module for Youth and MSMEs

Addis Ababa, May 2024 — The National Bank of Ethiopia (NBE), in collaboration with the Mastercard Foundation and First Consult under the BRIDGES program, has officially launched a groundbreaking financial education module designed to empower Ethiopia’s youth and Micro, Small, and Medium Enterprises (MSMEs). This initiative aims to provide essential financial knowledge and skills that

August 30, 2024 • By Addis Insight

Business

30 Days After Ethiopia’s Currency Float: Development Bank Leads with 110% USD Rate Spike

Ethiopia’s recent decision to float its currency on July 28, 2024, has led to a significant devaluation of the Ethiopian Birr (ETB) against major global currencies such as the Euro (EUR), US Dollar (USD), and British Pound (GBP). This strategic move was intended to stabilize the economy by allowing market forces to determine the exchange

August 29, 2024 • By Addis Insight