Business

Ethiopia to Introduce Mandatory Licensing for Real Estate Valuers, Enhancing Market Trust

Ethiopia is set to introduce a mandatory licensing system for real estate valuers as part of its new Real Estate Development and Immovable Property Transaction and Valuation Bill. The primary goal of this new regulation is to establish a more transparent, reliable, and professional property valuation process in the country. By ensuring that only certified

October 11, 2024 • By Addis Insight

Business

Proposed Bill Enforces 80% Completion Requirement for Real Estate Sales

Real estate developers who sell houses before construction begins must deposit the money they collect in a closed bank account. They are also prohibited from handing over houses to customers unless the construction is at least 80 percent complete. Bill Submission to the House of Representatives The bill was submitted to the House of Representatives

October 10, 2024 • By Addis Insight

Business

Ride Raises Fare to 130 Birr: How Fuel Reforms Impact Your Ride

Ride Transport Service has announced a price increase following the recent fuel and economic reforms. The service, which initially charged 100 Birr, has now increased to 130 Birr as of yesterday. Additionally, they stated that with the new price revision, there is also an increase of 1 Birr per kilometer. This price change follows the

October 10, 2024 • By Addis Insight

Business

Ethiopia Opens Doors: 20 Global Firms Licensed in Retail and Wholesale Sector

After the announcement of a new directive allowing foreign investors to engage in wholesale and retail business in Ethiopia, 71 international companies have expressed interest, and 20 licenses have been issued since July. It is worth recalling that two months ago, the Ethiopian Investment Board, chaired by the Prime Minister, decided to open up sectors

October 6, 2024 • By Addis Insight

Business

Minibus Operators Face Uncertain Future Amid New Licensing Threat

The Ethiopian Ministry of Transport and Logistics has introduced a strict new directive to improve public transportation safety and efficiency in line with Addis Ababa’s modernization efforts. While beneficial for the city, these changes create significant challenges for the public transport operators, especially minibus taxi operators, who now must obtain a competency license with stringent

October 5, 2024 • By Addis Insight

Business

Ethio Telecom Hikes International Call Rates by 658% Amid Rising Costs

Ethiopia’s state-owned telecom provider, Ethio Telecom, has announced a significant tariff increase across its services, citing rising operational expenses due to the country’s new floating exchange rate policy implemented two months ago. Range of Services Affected The new tariffs impact mobile services, fixed and wireless broadband, international calls, Telebirr transfers, and SMS. Ethio Telecom explained

October 3, 2024 • By Addis Insight

Business

Ethiopian Communications Authority Introduces New License Fees for Internet and Telecom Service Providers

The Ethiopian Communications Authority has issued a new directive, setting out license fees for companies applying to become internet service providers (ISPs), with costs reaching up to five million birr. The directive, issued under Communication Service Decree No. 1148/2011, also mandates that licensed companies pay an annual service charge of 1% of their gross income.

October 3, 2024 • By Addis Insight

Business

National Bank of Ethiopia Allocates $175 Million to Support Foreign Exchange Market

Addis Ababa, October 3, 2024 – The National Bank of Ethiopia (NBE) has announced a major allocation of $175 million to the foreign exchange market, aimed at supporting fuel-related import payments over the coming months. This move is expected to help alleviate pressure on foreign exchange needs, particularly for the Ethiopian Petroleum Supply Enterprise (EPSE),

October 3, 2024 • By Addis Insight

Business

Ethiopian Airlines Group and ETTE Sign MoU to Develop Ethiopia’s First Duty-Free Mall

Addis Ababa, October 3, 2024 – Ethiopian Airlines Group and Ethiopian Tourist Trading Enterprise (ETTE) have entered into an agreement to establish Ethiopia’s first duty-free mall. The two entities signed a memorandum of understanding (MoU) to collaborate on the development of a facility that aims to offer an international shopping experience, featuring luxury brands and

October 3, 2024 • By Addis Insight

Business

Ethiopian Airlines to Launch Five New International Destinations, Including Australia, This Fiscal Year

Ethiopian Airlines, Africa’s largest aviation group, is set to expand its international reach by adding five new flight destinations in the current fiscal year, including plans to fly to Australia within the next two years, according to the airline’s Chief Executive Officer. This move is part of the airline’s ongoing efforts to strengthen its global

October 2, 2024 • By Addis Insight