Business

Commercial Bank of Ethiopia Posts Record 32.6 Billion Birr Profit

Addis Ababa, Ethiopia – April 3, 2025 — The Commercial Bank of Ethiopia (CBE), the nation’s largest state-owned bank, has reported a staggering 32.6 billion birr profit in just the past eight months, marking a 170.5% surge compared to the same period last year, according to the bank’s president, Abe Sano. The announcement came during

April 3, 2025 • By Addis Insight

Business

President Trump Implements 10% Tariffs, Impacting Ethiopia and Other Nations

April 2, 2025 In a bold move to overhaul U.S. trade relations, President Donald Trump announced a comprehensive set of tariffs on April 2, 2025, marking the day as “Liberation Day.” The new tariffs aim to address longstanding trade imbalances and promote domestic manufacturing. Key Components of the Tariff Strategy: Impact on Ethiopia: Ethiopia, along

April 3, 2025 • By Addis Insight

Business

Saudi Billionaires Reinstated on Forbes List After 8 Years – But Mohammed Al Amoudi Still Left Out

In a surprising yet symbolic development, Forbes has reinstated 15 Saudi billionaires in its 2025 World’s Billionaires List after an eight-year exclusion that began in 2018. The move signals a thaw in the opacity that once surrounded the Kingdom’s financial elite following the sweeping 2017 anti-corruption purge. However, while the list now features a new

April 2, 2025 • By Addis Insight

Business

National Bank of Ethiopia to Launch Regular Foreign Exchange Auctions

Addis Ababa, March 31, 2025 – The National Bank of Ethiopia (NBE) has announced the launch of a bi-weekly foreign exchange auction system aimed at strengthening the country’s foreign exchange market and supporting macroeconomic stability. Starting April 1, 2025, the central bank will conduct foreign exchange (FX) auctions every two weeks, providing the private sector

March 31, 2025 • By Addis Insight

Business

Adey Ababa Stadium to Be Fully Completed with 19 Billion Birr Investment

Addis Ababa – March 31, 2025 In a groundbreaking development for Ethiopia’s sports infrastructure, the Ministry of Culture and Sports has officially signed a contract worth 19 billion birr to fully complete the Adey Ababa Stadium, one of the country’s most anticipated national projects. The agreement was signed today between the Ministry, represented by Minister

March 31, 2025 • By Addis Insight

Business

Foreign Banks Can Now Enter Ethiopia—But It’ll Cost 5 Billion Birr

Foreign Banks Welcome, But on Strict Terms: Ethiopia’s Central Bank Issues Landmark Directive Reshaping Banking Sector Addis Ababa, Ethiopia — March 31, 2025 The National Bank of Ethiopia (NBE) has unveiled a sweeping new directive titled “Requirements for Licensing and Renewal of Banking Business and Representative Office Directive No. SBB/XX/2025”, marking a historic shift in

March 31, 2025 • By Addis Insight

Business

Addis Ababa’s Real Estate Slowdown: What Developers Don’t Want You to Know

Once a thriving hub for real estate development, Addis Ababa’s housing market is now grappling with a growing crisis. Developers who once raced to meet the seemingly endless demand for high-end apartments are now facing unsold units and growing inventories of luxury properties. Despite a surge in property prices over the past few years, the

March 30, 2025 • By Addis Insight

Business

Ethiopia’s Koysha Hydropower Dam Reaches 65% Completion

Ethiopia’s bold push toward energy self-sufficiency and regional power exportation continues with major progress on the Koysha Hydropower Dam, now 65% complete as of March 2025. Located in South West Ethiopia on the Omo River, the Koysha project is one of the country’s largest and most ambitious energy undertakings to date, with an expected capacity

March 27, 2025 • By Addis Insight

Business

Ethiopian Airlines Partners with Archer Aviation to Launch Electric Air Taxi Network in Africa

ADDIS ABABA, March 27, 2025 — Ethiopian Airlines, Africa’s largest carrier and a Star Alliance member, has entered into a groundbreaking agreement with Archer Aviation (NYSE: ACHR) to deploy Archer’s electric vertical takeoff and landing (eVTOL) aircraft, Midnight, under Archer’s recently announced “Launch Edition” program. The deal is valued at up to $30 million. The

March 27, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Launches MasterCard Payment System to Boost Digital Transaction

In a significant step toward enhancing the country’s digital financial infrastructure, the Commercial Bank of Ethiopia (CBE) has officially launched a MasterCard payment system in collaboration with the global payments giant, MasterCard. According to the bank, the newly introduced system is expected to play a pivotal role in advancing digital payment services across Ethiopia. It

March 27, 2025 • By Addis Insight