Business

Ethiopian Airlines Suspends Asmara Flights Following Eritrean Government Directive Announced Today

Addis Ababa, September 2, 2024 – In a significant development that has raised concerns across the region, Ethiopian Airlines has suspended all flights to and from Asmara, effective September 3, 2024. The suspension follows mounting operational challenges in Eritrea, compounded by a government directive that has brought the airline’s operations to a halt. The Civil

September 2, 2024 • By Addis Insight

Business

Tinsae G. Mekonnen Launches “Dubai Decoded Vol.02” – Your Ultimate Guide to Thriving in Dubai’s Job Market

Dubai, United Arab Emirates – September 2, 2024 – Tinsae G. Mekonnen, an Ethiopian marketing professional based in Dubai, has just released the highly anticipated “Dubai Decoded Vol.02.” This second edition of her guidebook builds on the success of the first volume, offering an in-depth exploration of Dubai’s dynamic job market, personal branding, and freelancing

September 2, 2024 • By Addis Insight

Business

National Bank Opens Doors for Foreigners to Hold Dollar Accounts Amid Ethiopia’s Currency Reforms

The National Bank of Ethiopia has announced that it has completed the process of granting permission to Foreign Exchange Offices, a move that comes in the wake of Ethiopia’s decision to float its currency, the Birr. The National Bank of Ethiopia also announced that it is now accepting more individuals and companies, allowing entities previously

September 1, 2024 • By Addis Insight

Africa News

Ethiopian Airlines Given Three-Week Deadline by Somaliland to Restore Its Name on Flight Destinations

Somaliland Gives Two Airlines a Deadline to List Its Name on Their Flights Authorities in Somaliland have given Ethiopian Airlines and Flydubai a three-week grace period to re-register Somaliland’s name on flights to Hargeisa and Berbera. This directive was issued by the Civil Aviation and Airports Authority in Somaliland. However, the statement did not specify

August 30, 2024 • By Addis Insight

Business

National Bank of Ethiopia and Mastercard Foundation Launch Comprehensive Financial Education Module for Youth and MSMEs

Addis Ababa, May 2024 — The National Bank of Ethiopia (NBE), in collaboration with the Mastercard Foundation and First Consult under the BRIDGES program, has officially launched a groundbreaking financial education module designed to empower Ethiopia’s youth and Micro, Small, and Medium Enterprises (MSMEs). This initiative aims to provide essential financial knowledge and skills that

August 30, 2024 • By Addis Insight

Business

30 Days After Ethiopia’s Currency Float: Development Bank Leads with 110% USD Rate Spike

Ethiopia’s recent decision to float its currency on July 28, 2024, has led to a significant devaluation of the Ethiopian Birr (ETB) against major global currencies such as the Euro (EUR), US Dollar (USD), and British Pound (GBP). This strategic move was intended to stabilize the economy by allowing market forces to determine the exchange

August 29, 2024 • By Addis Insight

Business

Ethiopia Ends 22-Year Tax Exemption on Water, Electricity, and Transport Services

The Ethiopian government has announced a new directive aimed at revising the existing subsidy framework for water and electricity services. For the past 22 years, low-income households in Ethiopia have enjoyed water and electricity services exempt from additional value-added tax (VAT). This exemption was initially intended to alleviate the financial burden on low-income households. However,

August 29, 2024 • By Addis Insight

Business

Canal Plus Television Set to Exit the Ethiopian Market

(Based on information from Meseret Media) – The French satellite television channel Canal Plus is reportedly preparing to exit the Ethiopian market, according to information obtained by Meseret Media. Although the channel, which entered Ethiopia three years ago, has been providing services to a significant number of users, it has been unable to sufficiently penetrate

August 28, 2024 • By Addis Insight

Business

Guul Club: Jigjiga’s First Innovation Hub and the Vision Behind It—An Exclusive Insight from Its Founder

In the rapidly evolving landscape of entrepreneurship, particularly in underrepresented regions like Jigjiga, Ethiopia, the need for innovative solutions tailored to local contexts is crucial. Guul Club, founded by Guled Abdi, is one such initiative that stands out for its unique approach to fostering entrepreneurship and creating a sustainable impact in a region known for

August 28, 2024 • By Addis Insight

Business

National Bank of Ethiopia Implements New Gold Pricing Directive to Boost Foreign Currency Earnings

Addis Ababa, August 21, 2016 – The National Bank of Ethiopia (NBE) has introduced an amended directive, effective today, aimed at revising the pricing mechanism for gold purchased through its central and regional procurement branches. The new guidelines, detailed in Guideline No. Mada 2/2016, are designed to enhance the sustainability of gold supplies and maximize

August 27, 2024 • By Addis Insight