Business

Ethiopia Proposing $150 Million License Fee For M-Pesa and Other Mobile Operators

The National Bank of Ethiopia, the country’s industry regulator is proposing a $150 million license fee from M-Pesa and other mobile operators who want to set up shop in the country. In a draft proposal signed by Solomon Damtew, the Payment and Settlement System Director at the National Bank of Ethiopia, the regulator is referring to the $150 million fee as an

February 20, 2023 • By Addis Insight

Business

Yemeni Airlines Resumes Flights to Addis Ababa After Years of Interruption

Yemeni Airlines launched on Wednesday, February 15, its flights to Addis Ababa, after an interruption that has lasted for several years. Yemeni will have its flights every Wednesday and Friday of every week, within the framework of its itinerary and airlines. The reopening of Yemeni flights to Addis Ababa comes among the successes, achievements, understandings,

February 15, 2023 • By Addis Insight

Business

Introduction of Capital Market to Ethiopia

Yinebeb Bahru In December 2020 Ethiopia’s Council of Ministers approved a draft law that would enable the capital market. The draft was prepared by the National Bank of Ethiopia, the draft provides the legal framework for the formulation of the capital market, It’s very important for Ethiopia’s economic growth by increasing capital mobilization, financial innovation,

February 14, 2023 • By Addis Insight

Business

Addis Ababa’s CO2 emission is 4-8 times higher than WHO standards

Ethiopia’s capital Addis Ababa, one of the member cities of the C40 Cities Climate Leadership Group (C40), has committed to actions towards halving their CO2 emissions by 2030, along with the 12 other African member cities.  These cities are far from meeting the air quality standard set by the World Health Organization (WHO). The air quality

February 6, 2023 • By Addis Insight

Business

Ethiopian Airlines Inaugurates a second Aviation Academy Campus in Hawassa

Ethiopian Airlines Group, the largest aviation group in Africa, inaugurates a new aviation training center in the city of Hawassa. The new aviation training center in Hawassa will serve as the second campus for Ethiopian Aviation Academy and will currently be providing pilot trainee programs.The facility accommodates different types of classrooms, three training simulators, three

February 6, 2023 • By Addis Insight

Business

Visible gold struck in the first hole drilled at Segele

Ethiopia-focused gold exploration and mining company Akobo Minerals has hit visible gold in its first drill hole at the third mineralization style, 140 m from the main Segele area in Ethiopia. Akobo said in a statement on February 3 that, following the recent announcement of the discovery of the third mineralization style, the exploration team

February 3, 2023 • By Addis Insight

Business

How’s Your Business Impacted by the New Excise Tax Amendment?

By Tsegamlak Solomon What Impact Will the New Excise Tax Amendment Proclamation Have on Your Company? The parliament convened last week to ratify the proposed new excise tax amendment proclamation (Amendment Proclamation). Once enacted, the Amendment Proclamation will significantly impact the business community in general. Whether you are an investor with a duty-free privilege, a

February 1, 2023 • By Addis Insight

Business

CBE Introduces Digital Foreign Currency Remittance Service: EthioDirect

The Commercial Bank of Ethiopia (CBE) has unveiled a new digital foreign currency remittance service named EthioDirect. This move by the CBE is aimed at modernizing the process of money transfers and making it more accessible and convenient for customers. According to Ato Abe Sano, the President of CBE, the platform has been designed to

January 30, 2023 • By Addis Insight

Business

Ethiopian Airlines Ups Accra Schedule As Part Of Wide African Expansion

Ethiopian Airlines is in expansion mode. Not just in terms of long-haul routes to Copenhagen, returning after two decades, or Addis Ababa to Atlanta. Crucially, it has boosted flights on various sub-Saharan African routes. This is primarily part of its third-wave growth, increasing connectivity, choice, and competitiveness. The Star Alliance airline has also enhanced service on routes that leave

January 27, 2023 • By Addis Insight

Business

2.5 Billion Birr Hotel: Haile Hotels and Resorts Inaugurates New Addis Ababa Hotel

The Haile Grand Addis Ababa Hotel, built by the Haile Hotels and Resorts Group, was officially inaugurated in October. The hotel, which is located in Addis Ababa and is the group’s eighth hotel, faced obstacles during construction, including the cost of equipment and the challenging topography of the site. Despite these challenges, the hotel was

January 26, 2023 • By Addis Insight