Business

Ethiopia Ends 22-Year Tax Exemption on Water, Electricity, and Transport Services

The Ethiopian government has announced a new directive aimed at revising the existing subsidy framework for water and electricity services. For the past 22 years, low-income households in Ethiopia have enjoyed water and electricity services exempt from additional value-added tax (VAT). This exemption was initially intended to alleviate the financial burden on low-income households. However,

August 29, 2024 • By Addis Insight

Business

Canal Plus Television Set to Exit the Ethiopian Market

(Based on information from Meseret Media) – The French satellite television channel Canal Plus is reportedly preparing to exit the Ethiopian market, according to information obtained by Meseret Media. Although the channel, which entered Ethiopia three years ago, has been providing services to a significant number of users, it has been unable to sufficiently penetrate

August 28, 2024 • By Addis Insight

Business

Guul Club: Jigjiga’s First Innovation Hub and the Vision Behind It—An Exclusive Insight from Its Founder

In the rapidly evolving landscape of entrepreneurship, particularly in underrepresented regions like Jigjiga, Ethiopia, the need for innovative solutions tailored to local contexts is crucial. Guul Club, founded by Guled Abdi, is one such initiative that stands out for its unique approach to fostering entrepreneurship and creating a sustainable impact in a region known for

August 28, 2024 • By Addis Insight

Business

National Bank of Ethiopia Implements New Gold Pricing Directive to Boost Foreign Currency Earnings

Addis Ababa, August 21, 2016 – The National Bank of Ethiopia (NBE) has introduced an amended directive, effective today, aimed at revising the pricing mechanism for gold purchased through its central and regional procurement branches. The new guidelines, detailed in Guideline No. Mada 2/2016, are designed to enhance the sustainability of gold supplies and maximize

August 27, 2024 • By Addis Insight

Business

Boeing Announces Launch of African Office in Addis Ababa, Set to Begin Operations in October

Boeing Announces African Office to Begin Operations in October Addis Ababa, August 20, 2016 (FBC) – Boeing has announced that its African office, headquartered in Addis Ababa, will commence operations in October. The head of the office, Henok Tefera, made the announcement, emphasizing Boeing’s commitment to strengthening its presence in Africa. Henok Tefera highlighted that

August 26, 2024 • By Addis Insight

Business

Alibaba AliExpress Enters Ethiopian Market: MKTY Appointed as Official Business Partner and Launches Africa’s First AliExpress Showroom

Alibaba Group’s AliExpress has made a significant entry into the Ethiopian market, signaling a major step forward in the region’s e-commerce development. The global e-commerce platform has appointed MKTY as its Official Business Partner in Ethiopia, a move that highlights the strategic importance of Ethiopia as a gateway to broader African markets. This partnership is

August 25, 2024 • By Addis Insight

Business

Reform and Risk: How Ethiopia’s Currency Shift Is Reshaping Everyday Life

Introduction: Shifting from a Fixed to a Market-Based Exchange Rate For over a decade, Ethiopia’s economy has been guided by a fixed exchange rate, but now, the National Bank’s bold move to a market-based system is stirring up excitement and uncertainty. As this new chapter begins, the ripple effects on pricing, especially for everyday essentials

August 24, 2024 • By Addis Insight

Business

Ethiopia to Begin Power Exports to Tanzania in September, Expanding Regional Energy Network

Ethiopia is set to commence electricity exports to Tanzania next month, according to Ethiopian Electric Power CEO, Engineer Ashebir Balcha. The power transmission is expected to begin by mid-September, following the completion of necessary preparations. This development is part of Ethiopia’s broader strategy to increase its electricity export revenue. So far this year, the country

August 24, 2024 • By Addis Insight

Africa News

Grand Ethiopian Renaissance Dam Reaches New Milestone with Units 7-10 Fully Operational

Addis Ababa, Ethiopia – The Grand Ethiopian Renaissance Dam (GERD) has reached another significant milestone with the successful activation of Units #7, #8, #9, and #10, which are now fully operational. These developments are part of Ethiopia’s broader efforts to enhance its power generation capacity and secure energy independence. Unit #7 began generating power today,

August 24, 2024 • By Addis Insight

Business

Addis Insight Unveils Advanced Ethiopia Birr Currency Exchange Platform

Addis Ababa, Ethiopia – Addis Insight is excited to announce the launch of its innovative Ethiopia Birr (ETB) currency exchange platform, designed to provide users with accurate and real-time exchange rates against major global currencies. The platform features a powerful currency converter and delivers daily forex updates sourced from Ethiopia’s leading banks. The currency exchange

August 23, 2024 • By Addis Insight