Business

Selecta One Shuts Down Kunzila Production Site in Ethiopia Amid Political Instability

March 10, 2025 – In a significant setback for Ethiopia’s agricultural and horticultural sector, Selecta One has announced the closure of its production site in Kunzila, citing political instability and security concerns. The German-based floriculture company made the difficult decision after years of investment in the region, despite efforts to maintain operations post-civil war. Per

March 10, 2025 • By Addis Insight

Business

Lemi National Cement Factory Supplies Over 7 Million Quintals of Cement to Market

Lemi National Cement Factory has supplied more than 7 million quintals of cement to the Ethiopian market since it began operations, the company has announced. The factory is working closely with key stakeholders in the construction sector to expand market accessibility and promote efficient industry practices. By improving distribution and addressing supply shortages, Lemi National

March 9, 2025 • By Addis Insight

Business

Ethiopia to Increase Electricity Tariffs Starting April

Ethiopian Electric Service has announced that from April to June, electricity tariffs will increase for both consumption and service fees. According to the statement, starting in April, residential customers consuming up to 0.50 kWh will see their tariff increase to 0.60 cents per kWh. Additionally, service fees will also rise, with postpaid customers paying 10

March 9, 2025 • By Addis Insight

Business

Ethiopia Develops Capacity to Export Drones to International Markets – Prime Minister Abiy (Dr.)

Addis Ababa, February 29, 2025 (FMC) – Ethiopia has built the capacity not only to manufacture and use drones but also to export them to international markets, Prime Minister Abiy Ahmed (Dr.) has announced. The Prime Minister inaugurated Sky Wing Industry, a company engaged in the production of unmanned aerial vehicles (drones) for both civilian

March 8, 2025 • By Addis Insight

Business

NBE’s Forex Auctions: Is Ethiopia’s Market-Based Exchange Failing?

As banks compete for scarce dollars, concerns grow over the transparency and effectiveness of Ethiopia’s forex auctions. Ethiopia’s commercial banks are facing a severe liquidity crisis, worsened by recent policy changes and financial sector inefficiencies. The National Bank of Ethiopia’s (NBE) strict credit cap and high demand for cash have left banks struggling to meet

March 8, 2025 • By Addis Insight

Business

Ethiopian Airlines Celebrates International Women’s Day with All-Female Flight Crew in Namibia

Ethiopian Airlines marked International Women’s Day with a special flight operated entirely by an all-female crew, landing at Hosea Kutako International Airport in Namibia. The First Lady of Namibia, Susette Mbumba, welcomed the historic flight, highlighting the role of women in aviation and beyond. Addressing the gathering, the First Lady praised the initiative, stating, “When

March 8, 2025 • By Addis Insight

Business

Addis International Convention Center: A 28 Billion ETB Landmark for Ethiopia’s MICE Industry

The Addis International Convention Center (AICC), a state-of-the-art facility in Addis Ababa, Ethiopia, has been completed with an investment surpassing 28 billion ETB. This mega project aims to position Ethiopia as a premier destination for global conferences, trade fairs, and high-profile events. According to AICC Chief Executive Officer Sisay Gemechu, more than 22 billion ETB

March 6, 2025 • By Addis Insight

Business

Ethiopia’s $30M Arms Export Claim: A Rising Power or an Overstated Achievement?

Addis Ababa, Ethiopia – Ethiopia has officially joined the ranks of Africa’s top arms exporters, with Prime Minister Abiy Ahmed announcing that the country has already earned at least $30 million from weapons sales. This declaration places Ethiopia behind South Africa ($48 million) and Egypt ($41 million) while surpassing Morocco ($21 million) and Nigeria ($3

March 6, 2025 • By Addis Insight

Business

Ethiopia to Purchase Six Cargo Ships to Enhance Trade and Investment

Addis Ababa, February 27, 2017– Ethiopia is set to strengthen its maritime transport capacity with the acquisition of six new cargo ships, the Ethiopian Maritime Transport and Logistics (EMTL) has announced. The move is part of the country’s broader strategy to expand its logistics infrastructure and enhance trade efficiency. According to EMTL, two of the

March 6, 2025 • By Addis Insight

Business

NBE’s Draft Directive Could Require Insurance Companies to Hold 40% More Capital

Ethiopia’s financial landscape is set to undergo significant changes as the National Bank of Ethiopia (NBE) proposes a new directive aimed at strengthening the capital adequacy framework for the country’s insurance industry. The draft directive, which could affects both local and reinsurance companies, is designed to bolster the financial resilience of these institutions amid growing

March 5, 2025 • By Addis Insight