Business

Ethiopia and the World Bank signed Financing Agreements amounting to a total of 745 million US Dollars

Ethiopia and the World Bank signed Financing Agreements amounting to a total of 745 million US Dollars Today January 26, 2023, the Ministry of Finance and the World Bank signed two Financing Agreements amounting to a total of 745 million US Dollars (approximately 39.8 billion ETB) both in the form of grants. The first Grant Agreement amounting

January 26, 2023 • By Addis Insight

Business

NORFUND INVESTS 21 Million USD TO INCREASE PRODUCTION OF EDIBLE OILS IN ETHIOPIA

Norfund and a consortium of private investors managed by 54 Capital announce $21 million growth capital investment into Ethiopia’s largest FMCG platform SAMANU. Increased local production of edible oil will create jobs, increase food security, and provide income for up to 200,000 smallholder farmers. SAMANU is a platform company with well-established brands operating in Ethiopia’s

January 24, 2023 • By Addis Insight

Business

Is Mamo Mihretu’s appointment as Governor of the National Bank of Ethiopia a risky move?

Mamo Mihretu’s appointment as the Governor of the National Bank of Ethiopia (NBE) has raised concerns among experts and economists in the country. Mihretu, a former World Bank staffer and chief trade negotiator for Ethiopia at the World Trade Organization, has been appointed to replace Dr. Yinager Dessie. Despite his achievements in other fields, Mihretu’s

January 21, 2023 • By Addis Insight

Business

Mamo Mihretu Named Governor of National Bank of Ethiopia as Part of Government Reshuffle

Mamo Mihretu, a former World Bank staffer and chief trade negotiator for Ethiopia at the World Trade Organization, has been appointed as the new Governor of the National Bank of Ethiopia (NBE). He replaces Dr. Yinager Dessie, who had held the position since June 2018. Mihretu recently served as the Chief Executive Officer of Ethiopian

January 20, 2023 • By Addis Insight

Business

Japanese Venture capitalist to boost its investment in Ethiopian startups with a $100 million budget and partnership with Kazana Fund

Japanese Venture capitalist gears up to boost its investment in Ethiopian startups with a $100 million budget and partnership with Kazana Fund January 18, 2023, Addis Ababa, Ethiopia – The Tokyo-based venture capital firm Inclusion Japan (ICJ) in partnership with the early-stage startup investor Kazana Fund, calls on Ethiopian startups with pitch-ready ideas looking to secure significant capital

January 18, 2023 • By Addis Insight

Business

Ethiopia’s Banking Industry Gets a Boost with Abyssinia Bank’s Apollo App

Abyssinia Bank, one of Ethiopia’s leading financial institutions, is known for its unique virtual banking services. The bank’s latest release, the Apollo mobile banking app, is no exception. The app is the first of its kind in Ethiopia, allowing customers to open bank accounts without the need for a physical presence at a bank branch.

January 14, 2023 • By Addis Insight

Business

Ethiopian Airlines Triples Frequency of Flights to Mekelle, Denies Age Restriction Allegations

Ethiopian Airlines announced today that it will be increasing its flights to Mekelle from once a day to three times a day, in order to better serve passengers traveling to and from the city. “We are committed to providing our passengers with the best possible service and we believe that increasing the frequency of our

January 14, 2023 • By Addis Insight

Business

From Africa To Georgia: Ethiopian Airlines Announces Atlanta Flights

From Africa To Georgia: Ethiopian Airlines Announces Atlanta Flights Atlanta joins Chicago O’Hare, JFK, Newark, Toronto, and Washington Dulles in having Ethiopian Airlines passenger flights. Ethiopian Airlines 787-9 landing-1Photo: Wirestock Creators I Shutterstock. Ethiopian Airlines has announced and put on sale Addis Ababa to Atlanta. It will be the sixth airport in the US and

January 12, 2023 • By Addis Insight

Business

Emirates holds assessment days to recruit cabin crew in Ethiopia. 

Addis Ababa, Ethiopia, January 12, 2023 – Emirates, the world’s largest international airline, is looking for candidates to join its multinational cabin crew team with assessment day planned in Addis Ababa on the 17th of January. The Dubai-based airline is looking for individuals who are passionate about delivering simple yet personalised and impeccable hospitality while creating memorable moments for its customers.

January 12, 2023 • By Addis Insight

Business

Telebirr’s Exceptional Performance: 166.1 Billion Birr in Transactions in the First 6 Months

Ethio Telecom, a leading telecommunications company in Ethiopia announced that it earned over 33.8 billion birr in the first half of the 2015 fiscal year, achieving 96% of its planned target. The company’s CEO, Frehiwot, attributed this success to the strong performance of its mobile payment service, Telebirr. Telebirr, which allows customers to pay for

January 12, 2023 • By Addis Insight