Business

An ugly face of crypto

Mikael Alemu is a CEO and co-founder of “10 Green Gigawatt for Ethiopia”, an international initiative to transform Ethiopian energy systems and introduce solar energy as a major source of electricity. He contributes regularly to the Telegram channel t.me/tengigawatt, join this channel to read.  One can hardly imagine a modern capital or a major city

June 13, 2022 • By Addis Insight

Business

Amhara Bank to start operation on July 7 with 70 branches

Melaku Fanta, Chairman of the Board of the Amhara Bank, A total of 70 complete branches will be provided by the bank on the day of its inauguration. He said the bank would expand its branches to more than 100 by July 7. According to Melaku Amhara bank is a public bank, adding that shares

June 13, 2022 • By Addis Insight

Business

Why Telegram is so popular in Ethiopia?

By- Yinebeb Bahru Why Telegram is so popular in Ethiopia. According to Google Play Store each country’s download record, Telegram is a more highly downloaded app than the Facebook messenger, WhatsApp, IMO and other messenger apps in Ethiopia, Telegram is one of the preferred social media platforms in Ethiopia, it was more popular than any

June 13, 2022 • By Addis Insight

Business

Forty-four-storey skyscrapers are to be built in the Kazanchis area of ​​Addis Ababa

Forty-four-storey skyscrapers are to be built in the Kazanchis area of ​​Addis Ababa. According to The Reporter, Tewodros Yeshiwas, the owner of Quara Manufacturing, which is engaged in a number of projects, including Gomju Oil, is constructing the buildings. The 7,743-square-meter building will have forty-four floors and the other thirty floors. In particular, the forty-four-storey

June 12, 2022 • By Addis Insight

Business

Federal Housing Corporation inaugurates Gerji Village Construction Project

Federal Housing Corporation inaugurates Gerji Village Construction Project Aluminum formwork technology is used in the project; It is also pointed out that Ethiopian professionals have adapted the technology and completed the construction quickly. It is also known that the technology improves the quality and speed of construction. Using the technology, the corporation is said to

June 12, 2022 • By Addis Insight

Business

5.6 billion birr steel factory inaugurated in Dukem

The 450,000-square-meter steel melt factory in Dukem town of Oromia State was inaugurated today. The inauguration ceremony was attended by Oromia Regional State Head of State Shimeles Abdissa, Minister of Mines Engineer Takele Uma, religious leaders and other senior officials. The factory was built at a cost of 5.6 billion birr.When fully operational, the factory

June 11, 2022 • By Addis Insight

Business

Addis Ababa the second most expensive city in Africa

A report released by Statista in 2022, showed that Kampala is the most expensive city to live in in the East African region. Dakar city in Senegal ranked as the most expensive in Africa owing to the high prices of consumer goods as of 2022. Here is a list of 15 most expensive cities in

June 10, 2022 • By Addis Insight

Business

Ethiopia stripped its 19% stake at Berbera Port

Following Ethiopia’s failure to meet Somaliland government’s request it lost its 19% stake in the port of Berbera. According to the Somaliland Ministry of Finance, the Ethiopian government has been stripped of its ownership for failing to meet its ownership requirements on time. According to the Minister, one of the preconditions was fund contribution in

June 9, 2022 • By Addis Insight

Business

Why Banning Cryptocurrencies in Ethiopia Is a Right Move

By- Lewoye Bantie Cryptocurrency (crypto) is defined as a decentralized digital currency intended to be used in buying or selling goods and services. Cryptocurrency is currently at the frontier of financial development. It provides both opportunities and risks in financial markets and has attracted significant attention in recent years. Accordingly, the number of market players

June 9, 2022 • By Addis Insight

Business

India’s Arvind Limited cutting down its garment production capacity in Ethiopia

India’s Arvind Limited is gradually cutting down its garment production capacity in Ethiopia with uncertainty looming over renewal of the US African Growth and Opportunity Act (AGOA). The company, however, has earmarked ₹200 crore for capacity augmentation in its advanced material division and garmenting businesses, and cost optimisation projects for fabric business during fiscal 2022-23.

June 8, 2022 • By Addis Insight