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ADDIS ABEBA FREEZES SALE OF IMMOVABLE PROPERTIES 

The Federal Documents Authentication and Registration Agency (DARA) has ceased authenticating and registering contracts related to the sale of immovable as of today, June 24, 2020. The decision that was passed by a circular letter has effectively stopped the service for an indefinite period at all 14 branches of the Agency located in Addis Abeba,

June 24, 2020 • By Kaleab Girma

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NEW BANK ROLLS THE DICE

Ahadu Bank, a new commercial bank, is under formation and has sold 200 million Br worth of shares as of this week. Ahadu got an approval from the National Bank of Ethiopia (NBE) to start selling shares back in February 2020 and embarked on the task in March after mobilizing its resources and opening an

June 24, 2020 • By Kaleab Girma

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EGYPT PHONES RUSSIA’S FOREIGN MINISTER TO GARNER SUPPORT OVER GERD

The Foreign Minister of Egypt Sameh Shoukry called Sergey Lavrov Russia’s Foreign Minister on June 21, 2020, to garner support over the ongoing dispute between Ethiopia and Egypt regarding the Grand Ethiopian Renaissance Dam. In a statement released by the Russian Embassy in Addis Abeba today, the Egyptian foreign minister passed his distress over Egypt’s

June 23, 2020 • By Kaleab Girma

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Ethiopia Investment Commission Commissioner Abebe Abebayehu Resigns

Ethiopia Investment Commission Commissioner, Abebe Abebayehu resigned from his post after his resignation letter got an approval. The commissioner has been serving the EIC for the past two years. His appointment comes right after the former EIC commissioner Ato Fitsum Arega, moved to the USA to serve has Ethiopia’s ambassador. The news first broke on

June 22, 2020 • By Addis Insight

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Egyptian Air Force On High Alert After Al-Sisi Call

Egypt Air Force is put on high alert following President Abdel Fattah El-SIsi  order for his army to be ready  to conduct any military mission inside or outside the country. Several Middle East media outlets interpreting the call as a warning to Turkey and a potential intervention of Egypt in Libya.  President Al Sisi’s call

June 20, 2020 • By Addis Insight

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ILLEGAL EXPORTS PUGH RED ONION PRICE TO RECORD HIGH

The price of red onion sored recently in Ethiopia, due to illegal exports to the neighboring countries, causing a shortage of one of the most key vegetables in almost all Ethiopian dishes. On average the price of red onion last year was 15 birr per kilogram but currently, a kilogram of onion is being sold

June 19, 2020 • By Eldad Damte

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AMERICAN AVIATION AUTHORITY ADMITS BLAME FOR ET 302 CRASH

The head of the American Federal Aviation Administration (FAA) acknowledged on Wednesday, June 17, 2020, that the agency and Boeing made mistakes that led to the crashing of the Ethiopian Airlines Flight 302 that killed 157 people. The testimony came from Steve Dickson head of Federal Aviation Administration Administrator, as the United States Senate held

June 18, 2020 • By Kaleab Girma

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Digital Strategy Takes Root in Ethiopia

The council of ministers approved on Monday 15 June 2020 a digital strategy with a major aim of ensuring the county’s readiness for the development of a digital technology-based economy. The strategy that focuses on building infrastructures that support the digital economy allowing the government to properly build a system that can sustain the main

June 16, 2020 • By Eldad Damte

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Safaricom Bids to Enter Ethiopia

Safaricom, a Kenyan mobile network operator, is bidding for one of the two telecommunications licenses up for grabs in Ethiopia. Safaricom, which has had its sights on Ethiopia for some time now, yesterday on June 11, 2020, said it has put in an expression of interest. A Kenyan Based newspaper, The Standard, had quoted Chief

June 15, 2020 • By Kaleab Girma

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EFFORT Claims Multi-Billion Dollar Power Deal

The Ethiopian conglomerate EFFORT Group (Tigray Rehabilitation Endowment Fund) has stated that it signed an agreement with an Australian based clean energy cooperative, Lotus Energy for the construction of a 500 MW of solar plant in the Tigray region of Ethiopia at a cost of 3 billion dollars. The said 30-year contract that was signed

June 12, 2020 • By Addis Insight