Business

Lemi National Cement Powers Ethiopia’s Construction Boom with Over 12 Million Quintals Delivered

Lemi National Cement PLC is making major waves in Ethiopia’s construction industry, having supplied more than 12 million quintals of cement in just six months. This surge in distribution comes at a critical time, helping to ease the country’s long-standing cement shortage. With an impressive annual production capacity of 4.5 million metric tons, Lemi accounts

April 25, 2025 • By Addis Insight

Business

National Bank of Ethiopia Launches Modernized Ethiopian Automated Transfer System

The National Bank of Ethiopia (NBE) has officially launched the enhanced Ethiopian Automated Transfer System (EATS), a landmark upgrade that now operates using the internationally recognized ISO 20022 messaging standard. This significant development represents a pivotal step forward in the modernization of Ethiopia’s national payment infrastructure, aligning it with global best practices in financial communication

April 25, 2025 • By Addis Insight

Business

Kenya Poised to Surpass Ethiopia as East Africa’s Largest Economy in 2025

April 23, 2025 | Africa Economics Desk Kenya is on track to overtake Ethiopia as East Africa’s largest economy this year, according to projections from the International Monetary Fund (IMF). The shift, driven largely by divergent monetary policies and currency dynamics, marks a turning point in the economic landscape of the region. GDP Projections Signal

April 23, 2025 • By Addis Insight

Business

Boeing Expands African Presence with New Office in Addis Ababa

Addis Ababa, Ethiopia – April 23, 2025 – In a move underscoring its long-term commitment to the African aviation industry, Boeing has officially opened a new administrative office in Addis Ababa, Ethiopia. This marks the company’s second office on the continent and reinforces its strategic efforts to support airline partners and aviation stakeholders across Africa.

April 23, 2025 • By Addis Insight

Business

Ethiopian Airlines Doubles Weekly Flights to Lagos, Nigeria

Addis Ababa, April 21, 2025 — Ethiopian Airlines has announced a major expansion in its flight services to Lagos, Nigeria. Beginning June, 2025, the airline will increase its weekly flights from 7 to 14. This move reflects a growing demand for connectivity between the two African commercial hubs. The announcement was made through Ethiopian Airlines’

April 21, 2025 • By Addis Insight

Business

Ethiopis Tafara Appointed as World Bank’s IFC Vice President for Africa

April 1, 2025 — Ethiopis Tafara has officially assumed his new position as Vice President for Africa at the International Finance Corporation (IFC), part of the World Bank Group. In his new role, Tafara will oversee IFC’s investment and advisory portfolio across Africa, with a focus on accelerating private sector participation in development and fostering

April 19, 2025 • By Addis Insight

Business

Ethiopian Airlines Commits 30 Billion Birr to Launch Phase of New Mega-Airport Near Bishoftu

Ethiopian Airlines has allocated a substantial 30 billion birr to begin preparatory works on its ambitious new airport and aviation hub near Bishoftu, located roughly 60 kilometers southeast of Addis Ababa. The development spans 35 square kilometers and represents a major milestone in the airline’s long-term expansion strategy. According to the Ministry of Finance, the

April 19, 2025 • By Addis Insight

Business

Foreign Exchange Auction Sets Average Rate at 131.49 Birr per Dollar, Says National Bank of Ethiopia

The National Bank of Ethiopia (NBE) has officially released the outcomes of its most recent foreign exchange auction, which took place today, offering a total of $70 million to participating commercial banks. According to the report issued by the central bank, the average exchange rate at which the foreign currency was purchased by successful bidders

April 17, 2025 • By Addis Insight

Business

National Bank of Ethiopia to Hold $70 Million Forex Auction Tomorrow

The National Bank of Ethiopia (NBE) has announced that it will hold a foreign exchange auction worth $70 million tomorrow as part of its ongoing efforts to stabilize the foreign currency market and manage exchange rate fluctuations. In an official statement, the central bank confirmed that the auction is part of its regular biweekly foreign

April 16, 2025 • By Addis Insight

Business

Ethiopia Earns Over $2.1 Billion in Foreign Exchange from Gold Market

Addis Ababa – April 16, 2025 The Ministry of Mines announced today that Ethiopia has earned more than $2.1 billion in foreign exchange over the past nine months through the sale of 26 tons of gold delivered to the National Bank. This achievement was disclosed during a high-level discussion held by ministry officials, sector leaders,

April 16, 2025 • By Addis Insight