Uncategorized

Dodai’s Bold Response to 88% Birr Devaluation: Maintaining Prices and Launching Promotions”

In a dramatic shift in Ethiopia’s economic landscape, the country floated its currency just a week ago, resulting in the birr losing over 88% of its value. This sudden devaluation has led to a cascade of reactions from businesses—many increased their prices significantly, while others stopped selling their products altogether. However, amidst the turmoil, one

August 5, 2024 • By Addis Insight

Business

Ethiopian Airlines Under Fire: Kenyan Woman Plans to Sue Over Passport Confiscation and Video Deletion

Kenyan Woman Removed from Ethiopian Airlines Flight Speaks Out A Kenyan woman who was removed from an Ethiopian Airlines flight to allegedly make room for a minister has shared her distressing experience, sparking a wave of public outrage. In a viral video, she revealed that despite having confirmed reservations, she and her husband were offloaded

August 3, 2024 • By Addis Insight

Uncategorized

Grand Ethiopian Renaissance Dam 7 Major Benefits for Sudan

By- Asrat Birhanu 1. Sediment Reduction The Grand Ethiopian Renaissance Dam will significantly reduce the sediment loads that the Blue Nile brings to Sudan every year. Usually, the river would carry about 270 million tons of sediment annually, but with the GERD in place, this is slashed to just 19 million tons yearly. That’s an

August 1, 2024 • By Addis Insight

Uncategorized

IMF Approves $3.4 Billion Aid Package to Bolster Ethiopia’s Economic Reforms

The International Monetary Fund (IMF) has granted Ethiopia a $3.4 billion Extended Credit Facility (ECF) over four years. This funding, equivalent to 2.55 billion in Special Drawing Rights, aims to support Ethiopia’s Homegrown Economic Reform (HGER) agenda, focusing on macroeconomic stabilization, reducing inflation, and enhancing the fiscal space for priority public spending. Key aspects include

July 29, 2024 • By Addis Insight

Uncategorized

Ethiopian Airlines Reports Record $7.02 Billion Revenue Amidst Passenger and Flight Hour Growth

Ethiopian Airlines Group made a statement today announcing that in the last fiscal year, they achieved a total revenue of 7.02 billion dollars, marking a 14 percent increase compared to the same period of the previous fiscal year. This income is equivalent to more than 402 billion birr in Ethiopian currency. The airline reported flying

July 29, 2024 • By Addis Insight

Uncategorized

Teddy Afro Donates 1 Million Birr to Landslide Victims in South Ethiopia

Artist Tewodros Kasahun, also known as Teddy Afro, donated one million birr to the victims of the landslide in Kencho Shacha Gozdi Kebele, Gofa Zone, Geze Gofa District, South Ethiopia. Tewodros Kasahun extended his support to those affected by the sudden landslide in Kencho Shacha Gozdi Kebele and offered condolences to the families who lost

July 26, 2024 • By Addis Insight

Uncategorized

Ethiopian Airlines Shocked by Eritrea Suspension After Flight Upgrade Request

Background and Context The Eritrean Civil Aviation Authority recently announced the suspension of Ethiopian Airlines flights to Eritrea, effective September 30, 2024. The decision was attributed to various grievances, including allegations of “organized and systematic” mistreatment of Eritrean passengers, such as luggage theft, frequent delays, and improper ticketing practices. Ethiopian Airlines’ Response Hana Atanafu, Public

July 24, 2024 • By Addis Insight

Uncategorized

From Eritrea to the Champs-Elysées: Biniam Girmay’s Unprecedented Tour de France Triumph

On July 21, 2024, Biniam Girmay made history by becoming the first African cyclist to win the prestigious Green Jersey at the Tour de France. This achievement not only marks a personal milestone for Girmay but also a significant moment for African sports, demonstrating the rising prominence of African athletes on the global stage. A

July 21, 2024 • By Addis Insight

Business

47 Years in the Making: Eneredada Cooperative Battles Sudden Eviction in Addis Ababa

The members of “Eneredada Multipurpose Consumers Union Limited Liability Company,” which has been managing two properties behind Mado Hotel and Dessalen Hotel in Bole sub-district in Addis Ababa for the past 47 years, complained that they were informed that the properties would be transferred to individuals. Mrs. Manyahlushal Kebede, chairman of the association’s board, told

July 20, 2024 • By Addis Insight

Business

National Bank of Ethiopia Issues New Directive on Bank Investments

The National Bank of Ethiopia (NBE) has introduced a new directive aimed at regulating the investment activities of banks within the country. This move is part of the NBE’s broader strategy to deepen Ethiopia’s capital markets and ensure the stability and soundness of the banking sector. Key Highlights of the Directive Equity Investment Limits:The directive

July 19, 2024 • By Addis Insight