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

Uncategorized

Renowned Ethiopian Scholar and Leader, Professor Endrias Eshete, Passes Away

Prominent Academic and Public Figure Former President of Addis Ababa University, Professor Endrias Eshete, passed away on August 30, 2024, after being under medical care due to an illness. The announcement was made by Addis Ababa University earlier today. Academic Contributions Professor Endrias was a highly regarded figure in Ethiopian academia and public service, known

August 29, 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

Culture

Meet Yonas Alemu: The Ethiopian Entrepreneur Who Exported Teff Pasta to Italy

Yonas Alemu, a visionary Ethiopian entrepreneur, has made headlines by exporting teff pasta to Italy, a country known for its rich pasta tradition. His journey from rural Ethiopia to global finance and back to his homeland is a testament to determination, innovation, and a deep connection to his roots. The Roots of an Idea Yonas

August 29, 2024 • By Addis Insight

News

Ambassador Lencho Bati Denied Accreditation by the U.S. Government

Thursday, August 29, 2024: Reports indicate that Ambassador Lencho Bati, who was recently appointed as Ethiopia’s ambassador to the United States, has been denied accreditation by the U.S. government. This decision comes just weeks after Ambassador Lencho was recalled from his previous post in Saudi Arabia and selected to represent Ethiopia in Washington, D.C. According

August 29, 2024 • By Addis Insight

Politics

Ethiopia Responds to Escalating Tensions in the Horn of Africa Following Egypt-Somalia Security Pact

The Federal Democratic Republic of Ethiopia’s Ministry of Foreign Affairs has released a statement addressing the current developments in the Horn of Africa, particularly in light of the recent military aid delivered by Egypt to Somalia. This move has heightened tensions in the region, with significant implications for Ethiopia. The impending establishment of a new

August 28, 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

Politics

Elias Driba Bedane: A Criminal History Resurfaces Amid Terrorism Allegations

Elias Driba Bedane, one of the six individuals recently arrested on suspicion of terrorism and violation of civil aviation law, has a complex criminal history that dates back several decades. Over the years, Elias, who has used multiple aliases including Dawit Driba Bedane and Jamal Nuru, has been implicated in a range of serious criminal

August 28, 2024 • By Addis Insight