Business

60 Years, 6 Dams: How Salini Built Ethiopia’s Hydro Legacy

Salini’s Enduring Legacy: Six Dams That Reshaped Ethiopia’s Water and Power Landscape Introduction: An Ethio-Italian Saga Forged in Concrete and Water For more than sixty years, one Italian company has stood at the heart of Ethiopia’s transformation into the “Water Tower of Africa.” Salini Costruttori—today Webuild—is not merely a foreign contractor. Across four political regimes,

September 6, 2025 • By Addis Insight

Business

Why the U.S. Embassy’s Tribute Insults Ethiopians

Introduction: A Tale of Two Ethiopias In the quiet halls of Addis Ababa’s diplomatic quarter, Ethiopia’s economic story is being retold in glowing terms. When the U.S. Embassy issued a farewell tribute to Mamo Mihretu, the outgoing Governor of the National Bank of Ethiopia (NBE), it was not just a polite send-off. It was a

September 5, 2025 • By Addis Insight

Business

Ethiopian Banks Dangle Up to 10 Birr-per-Dollar Bonuses in New Year FX Race

Addis Ababa — Ethiopia’s banking sector has turned the upcoming Enkutatash holiday into a high-stakes currency competition, with banks rolling out headline-grabbing promotions — some offering fixed Birr bonuses per dollar, others floating percentage uplifts — to capture diaspora remittances and festive FX flows. The Context: Why Enkutatash Triggers an FX Bidding War The Offers:

September 5, 2025 • By Addis Insight

Business

Addis Ababa Inaugurates 5th Corridor Development Project

Addis Ababa’s ongoing urban transformation marked another milestone today with the inauguration of the 5th corridor development project of the second round, officially opened in the presence of Prime Minister Dr. Abiy Ahmed. The project, which stretches across some of the city’s most iconic and densely used areas, reflects Ethiopia’s broader ambition to create a

September 4, 2025 • By Addis Insight

Business

Ethiopia Showcases Locally Produced Drones as Symbol of Sovereignty and Growth

Addis Ababa – Prime Minister Abiy Ahmed (PhD) has announced that Ethiopia’s growing capacity to produce drones domestically will play a critical role in safeguarding the country’s sovereignty and sustaining its path toward prosperity. During a visit to the Aero Abay drone manufacturing facility, Abiy emphasized that advancing military technology is not only a matter

September 4, 2025 • By Addis Insight

Business

Arabic Voices, English Tweets: How Ethiopians Won the GERD Media War

When Ethiopia first announced the Grand Ethiopian Renaissance Dam (GERD), Cairo responded not only with diplomatic pressure but with a media blitz. More than 80 Egyptian outlets—newspapers, TV channels, and websites—saturated the Arabic media sphere with documentaries, opinion pieces, and reports painting Ethiopia as reckless and illegitimate. But in parallel, a counter-offensive rose from Ethiopians

September 4, 2025 • By Addis Insight

Business

Ethiopia Plans 10 More Nile Dams — Here’s What You Need to Know

Ethiopia Plans 10 More Nile Dams — Here’s What You Need to Know Hydropower & geopolitics Ethiopia Plans 10 More Nile Dams — Here’s What You Need to Know With GERD nearing inauguration, Addis Ababa is pivoting from a singular monument to a managed river system. A ten‑dam vision would optimise flows, raise firm energy,

September 4, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Signs MoU with Botim to Boost UAE Remittances

Addis Ababa – The Commercial Bank of Ethiopia (CBE) has entered into a strategic partnership with Botim, a leading UAE-based platform, through a newly signed Memorandum of Understanding (MoU). The deal is set to provide millions of Ethiopians living in the United Arab Emirates with an easier, faster, and more secure way to send money

September 4, 2025 • By Addis Insight

Business

Isak & Mulugheta: Eritrean Icons Driving Billion-Dollar Deals and Transfers

One reshaped billion-dollar negotiations from a Dallas upbringing. The other turned silent resolve into the most expensive transfer in Premier League history. Together, David Mulugheta and Alexander Isak are rewriting what influence looks like—on the touchline and in the boardroom. Opening Scene From Dallas to Stockholm, from refugee stories to billion-dollar contracts, two sons of

September 3, 2025 • By Addis Insight

Business

Ethiopia’s Central Bank Governor Mamo Mihretu Steps Down After Two Years of Sweeping Reforms

Addis Ababa — Mamo Mihretu, Governor of the National Bank of Ethiopia (NBE), has resigned after a tenure that redefined the country’s financial sector through bold reforms, including floating the birr, opening the banking industry to foreign competition, and launching the first securities exchange in decades. Mihretu, who was appointed in January 2023 by Prime

September 3, 2025 • By Addis Insight