Business

The need to revisit the Ethiopian Standard Industrial Classification Directive No.17/2019 in light of the New Investment Regime

By- Dereje Ashenafi It has almost been three years since the adoption of the new Investment Proclamation No.1180/2020 (Investment Proclamation) and Investment Regulation No. 447/2020 (the Investment Regulation) (together‘ the New Investment Regime’). The New Investment Regime has introduced a new policy shift from ‘positive listing’ to ‘negative listing’ regarding FDI.  With a negative listing

February 24, 2023 • By Addis Insight

Business

Ethiopian Airlines to resume direct flights between Abidjan and New York

Ethiopian Airlines, the largest network operating carrier in Africa, has announced the resumption of its direct flights between Abidjan and New York John F. Kennedy Airport as of 29 May 2023. Ethiopian first started serving New York from its main hub Addis Ababa via Abidjan in June 2019. However, the route was suspended in March

February 23, 2023 • By Addis Insight

Business

Key local & international stakeholders meet in Addis Ababa to finalize regulatory & legal issues ahead of launching Ethiopia’s first Industrial Gold Mining Project

February 23, 2023, Addis Ababa, Ethiopia: Major local and international stakeholders of the Tulu Kapi Gold Project, Ethiopia’s first modern mining development today officially kicked off a workshop that aims to resolve remaining consents and approvals paving the way to commence activities on the ground. The participants of the workshop include senior officials from the

February 23, 2023 • By Addis Insight

Business

ETHIOPIA: A NEW COMMERCIAL CODE

 Investors looking to enter the Ethiopian market or deepen their presence should seek to familiarise themselves with some recent legislative changes of the country’s commercial law that are set to significantly alter the legal landscape for both local and international players. Chief among those is the new commercial code (the “NCC”), approved by the House

February 21, 2023 • By Addis Insight

Business

Ethiopia Proposing $150 Million License Fee For M-Pesa and Other Mobile Operators

The National Bank of Ethiopia, the country’s industry regulator is proposing a $150 million license fee from M-Pesa and other mobile operators who want to set up shop in the country. In a draft proposal signed by Solomon Damtew, the Payment and Settlement System Director at the National Bank of Ethiopia, the regulator is referring to the $150 million fee as an

February 20, 2023 • By Addis Insight

Business

Yemeni Airlines Resumes Flights to Addis Ababa After Years of Interruption

Yemeni Airlines launched on Wednesday, February 15, its flights to Addis Ababa, after an interruption that has lasted for several years. Yemeni will have its flights every Wednesday and Friday of every week, within the framework of its itinerary and airlines. The reopening of Yemeni flights to Addis Ababa comes among the successes, achievements, understandings,

February 15, 2023 • By Addis Insight

Business

Introduction of Capital Market to Ethiopia

Yinebeb Bahru In December 2020 Ethiopia’s Council of Ministers approved a draft law that would enable the capital market. The draft was prepared by the National Bank of Ethiopia, the draft provides the legal framework for the formulation of the capital market, It’s very important for Ethiopia’s economic growth by increasing capital mobilization, financial innovation,

February 14, 2023 • By Addis Insight

Business

Addis Ababa’s CO2 emission is 4-8 times higher than WHO standards

Ethiopia’s capital Addis Ababa, one of the member cities of the C40 Cities Climate Leadership Group (C40), has committed to actions towards halving their CO2 emissions by 2030, along with the 12 other African member cities.  These cities are far from meeting the air quality standard set by the World Health Organization (WHO). The air quality

February 6, 2023 • By Addis Insight

Business

Ethiopian Airlines Inaugurates a second Aviation Academy Campus in Hawassa

Ethiopian Airlines Group, the largest aviation group in Africa, inaugurates a new aviation training center in the city of Hawassa. The new aviation training center in Hawassa will serve as the second campus for Ethiopian Aviation Academy and will currently be providing pilot trainee programs.The facility accommodates different types of classrooms, three training simulators, three

February 6, 2023 • By Addis Insight

Business

Visible gold struck in the first hole drilled at Segele

Ethiopia-focused gold exploration and mining company Akobo Minerals has hit visible gold in its first drill hole at the third mineralization style, 140 m from the main Segele area in Ethiopia. Akobo said in a statement on February 3 that, following the recent announcement of the discovery of the third mineralization style, the exploration team

February 3, 2023 • By Addis Insight