Business

Ethiopia’s Regulatory Authority Signals Open Doors for Foreign Banks

Ethiopia is set to enhance its economic landscape by allowing foreign banks to obtain licenses for domestic banking services, as announced by the regulatory authority. The Ethiopian Capital Market Authority, following an order from the Ministry of Justice, is initiating the licensing process, according to Mr. Bruck Taye, the head of the authority, as reported

January 18, 2024 • By Addis Insight

Business

Ethiopost CEO Hanna Arayaselassie Named Head of Ethiopian Investment Commission

On January 17, 2023, Prime Minister Abiy Ahmed (PhD) revealed the selection of Hanna Arayaselassie as the newly appointed head of the Ethiopian Investment Commission (EIC). Having steered Ethiopost since 2020, Hanna orchestrated a substantial institutional reform, resulting in a notable enhancement of service quality. Under her guidance, Ethiopost witnessed a threefold surge in revenues,

January 18, 2024 • By Addis Insight

Business

Diplomatic Air Turbulence: Ethiopian Airlines Entry Denied Amid Somalia-Ethiopia Strife

In a significant heightening of regional tensions, Somali authorities decided to deny entry to an Ethiopian Airlines flight on Wednesday. The flight was transporting a delegation to introduce a high-ranking Ethiopian leader to Somaliland. This incident adds further complexity to the already strained relationship between Somalia and its eastern neighbor. The Somali Civil Aviation Authority

January 17, 2024 • By Addis Insight

Business

From Horn to Horizon: Ethiopia’s Naval Aspirations, USA’s Strategic Silence

The recent agreement granting Ethiopia leasing rights to the Red Sea coastline in Somalia’s breakaway Somaliland region has raised national security concerns for the White House, according to administration officials on Tuesday. Despite the deal being inked on January 1, questions arise regarding Washington’s commitment and ability to mediate tensions in this volatile region. Redwan

January 17, 2024 • By Addis Insight

Business

Zemen Bank Marks Milestone with 5% ESX Investment in Ethiopia

In a historic development, Zemen Bank S.C. has achieved the milestone of becoming the inaugural privately held entity to invest in the Ethiopian Securities Exchange (ESX), securing a substantial 5% stake in the burgeoning stock market. With a valuation of 47.5 million birr, the bank’s acquisition not only surpasses the prescribed minimum investment threshold but

January 12, 2024 • By Addis Insight

Business

Gamifying Education: HaHu Scripts – The First Interactive App to Transform #Amharic and #Tigrigna Literacy and Culture!

In the face of alarming literacy statistics in Ethiopia, a groundbreaking initiative has emerged to address the educational challenges faced by the nation’s youth. The World Bank Policy brief on Education in Ethiopia recently revealed that a staggering 90% of 10-year-olds struggle to read a sentence, and only 1% of 4th and 5th graders demonstrate

January 12, 2024 • By Addis Insight

Business

Raxio Ethiopia appoints Degol Gossaye as its new General Manager

Tier III certified carrier-neutral facility in Addis Ababa provides innovative infrastructure to support the region’s ambition for digital inclusion. Addis Ababa, Ethiopia, 4 January 2024 – Raxio Data Centres, a leading provider of state-of-the-art carrier-neutral data centres across Africa, announced that it has appointed Degol Gossaye as its new General Manager of Raxio Ethiopia. Mr.

January 4, 2024 • By Addis Insight

Business

Digitizing Ethiopia’s Future: BeSingularity’s Revolutionary Sales Model

In the ever-evolving business environment of Ethiopia, BeSingularity has marked its presence as an innovative force in digitizing sales and distribution channels. Established in January 2021, the company swiftly positioned itself as a significant contributor to solving unemployment issues and helping bridge the digital divide in East Africa. BeSingularity’s ambition is to mobilize a million

January 3, 2024 • By Addis Insight

Business

Addis Ababa hosted the 6th Annual Real Estate and Home Expo

Addis Ababa, Ethiopia, January 01, 2024 – ET Real Estate and Home Expo, an annual gathering of the leading local and international home developers showcasing the latest offers and solutions hosted for the 6th time in Addis Ababa, Skylight Hotel. The two-day event was a one- stop destination to fuilfill housing, furnishing, and finishing needs

January 1, 2024 • By Addis Insight

Business

itel Mobile Ethiopia Welcomes Nuhamin Meseret as Brand Ambassador

Addis Ababa, Ethiopia – December 25, 2023: itel Mobile Ethiopia is excited to announce the appointment of Nuhamin Meseret, Actress and advertising model, as the brand ambassador. This collaboration marks a significant milestone for itel Mobile Ethiopia as the brand continues to strengthen its presence in the dynamic Ethiopian market.  Itel Mobile Ethiopia plans to

December 27, 2023 • By Addis Insight