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Category: Business

French Embassy Announces First Winners of the “Habesha Creative Lab”
Business

French Embassy Announces First Winners of the “Habesha Creative Lab”

The French Embassy has revealed the 14 inaugural winners of the Habesha Creative Lab, a program launched under the Ethio-French Touch initiative to support Ethiopia’s cultural and digital creative industries. The Habesha Creative Lab, set to officially open on May 24, 2025, at the Alliance Ethio-Française, provides support to entrepreneurs working in: Support Offered to

April 16, 2025 • By Addis Insight
Venture Meda: Job Creation through Incubation and acceleration in Ethiopia.
Business

Venture Meda: Job Creation through Incubation and acceleration in Ethiopia.

Venture Meda, a transformative initiative launched in partnership with the Mastercard Foundation, the Ministry of Innovation and Technology, and iceaddis, continues its mission to foster job creation and economic growth in Ethiopia. Through innovative incubation and acceleration programs, Venture Meda is set to create sustainable job opportunities by supporting young entrepreneurs and expanding digital entrepreneurship

April 15, 2025 • By Addis Insight
Elon Musk Announces Starlink Launch in Somalia, Marking a New Era for African Connectivity
Business

Elon Musk Announces Starlink Launch in Somalia, Marking a New Era for African Connectivity

On April 13, 2025, Elon Musk tweeted a short but impactful message: “Starlink in Somalia.” The announcement marked the official launch of Starlink, SpaceX’s satellite internet service, in the East African nation—opening a new chapter in the country’s access to reliable, high-speed internet. The entry of Starlink into Somalia follows years of effort to expand

April 13, 2025 • By Addis Insight
Awash Bank Secures Over $498 Million in Foreign Exchange for Over 2,200 Customers
Business

Awash Bank Secures Over $498 Million in Foreign Exchange for Over 2,200 Customers

Awash Bank Secures Over $498 Million in Foreign Exchange for Over 2,200 Customers Amid Ethiopia’s Currency Challenges Addis Ababa, March 27, 2017 (FM C) — Awash Bank has taken a leading role in addressing Ethiopia’s ongoing foreign exchange shortage, securing over $498 million in foreign exchange for its customers during the first quarter of 2017.

April 5, 2025 • By Addis Insight
Ethiopia Secures Debt Restructuring Deal, Extends Payment Deadlines
Business

Ethiopia Secures Debt Restructuring Deal, Extends Payment Deadlines

Ethiopia’s official creditors are nearing the completion of a debt restructuring agreement that will extend payment deadlines, but will not involve any reduction of the country’s outstanding debt, as confirmed by William Roos, co-chair of the Official Creditor Committee (OCC). Following its default in December 2023, Ethiopia reached a preliminary deal in March with its

April 4, 2025 • By Addis Insight
Commercial Bank of Ethiopia Disburses $122.5 Million to Customers to Support Import Trade
Business

Commercial Bank of Ethiopia Disburses $122.5 Million to Customers to Support Import Trade

Addis Ababa, March 26, 2017 – The Commercial Bank of Ethiopia (CBE) has announced the disbursement of $122.5 million in foreign exchange to its customers to support the country’s import trade. This move is part of the bank’s ongoing efforts to ensure the smooth functioning of Ethiopia’s foreign exchange market and to meet the increasing

April 4, 2025 • By Addis Insight
Ethiopian Airlines Expands Global Reach with the Launch of Macao Cargo Route
Business

Ethiopian Airlines Expands Global Reach with the Launch of Macao Cargo Route

Ethiopian Airlines, Africa’s leading airline and a key player in global air transportation, has announced the launch of its new cargo route to Macao. This expansion comes as part of the airline’s ongoing efforts to strengthen its global network and provide efficient and reliable solutions for international trade. With two weekly flights and an impressive

April 3, 2025 • By Addis Insight
Chapa Enabled Millions of Ethiopians to pay and receive their National ID seamlessly in less than a year.
Business

Chapa Enabled Millions of Ethiopians to pay and receive their National ID seamlessly in less than a year.

Addis Ababa, Ethiopia – April 3, 2025 Ethiopian fintech company Chapa partnered with the Ethiopian Postal Service and the National ID (Fayda) platform, marking a significant milestone in the country’s push toward digitized public service delivery. The partnership allows citizens to request their National ID cards online, pay securely via Chapa’s gateway, and collect their

April 3, 2025 • By Addis Insight