Business

Wegagen Bank Launches International Prepaid Visa Card Service at Diaspora Day Event

Mekelle, August 15, 2016During the Diaspora Day celebration held at Planet Hotel in Mekele City, Wegagen Bank announced the launch of its new international prepaid Visa card service. This service, developed in collaboration with Visa Incorporated, enables customers of the bank, as well as embassies and international organizations, to make global payments without the need

August 21, 2024 • By Addis Insight

Business

Ethiopian Airlines and AliExpress to Launch Cutting-Edge E-Commerce Facility on August 22, 2024

Ethiopian Airlines Group, the largest airline conglomerate in Africa and one of the fastest-growing airline brands globally, has launched a new e-commerce logistics facility in Addis Ababa. This facility is part of a broader strategy to position Addis Ababa as a key cross-border e-commerce logistics hub for Africa. The facility is located within the Ethiopian

August 21, 2024 • By Addis Insight

Business

Ethiopian Ministry of Foreign Affairs Imposes New Restrictions on Vehicle Imports for Diplomatic Missions

Addis Ababa, Ethiopia – August 19, 2024: The Ministry of Foreign Affairs of the Federal Democratic Republic of Ethiopia has introduced new regulations affecting the importation of vehicles by Diplomatic and Consular Missions, as well as Regional and International Organizations operating within Addis Ababa. The Ministry has officially informed these entities that, effective immediately, the

August 20, 2024 • By Addis Insight

Business

Amhara Bank Reports 377.2 Million Birr Profit, Showcasing Growth in Deposits and Digital Services

Amhara Bank has announced its financial results for the previous fiscal year, reporting a pre-tax profit of 377.2 million birr. The results reflect the bank’s ongoing efforts to strengthen its financial position and expand its presence in Ethiopia’s banking sector. According to a press release issued by the bank, the total deposits at Amhara Bank

August 20, 2024 • By Addis Insight

Tech

Ethio Telecom and VISA Partner to Launch Ethiopia’s First Virtual Visa Card, Enhancing Digital Financial Services

Ethio Telecom has announced a strategic partnership with VISA Inc. to introduce the first wallet-based Virtual Visa Card in Ethiopia, marking a significant step in the company’s efforts to expand digital financial services across the country. The partnership also aims to enhance international money transfer services through the telebirr Remit App and Visa Direct, offering

August 20, 2024 • By Addis Insight

Opinion

Heaven’s Legacy: A Mother’s Call to Action for Justice in Ethiopia

By- Rahel Gettu As a mother and sister, the tragic story of Heaven—a 7-year-old girl whose life was brutally stolen—pierces my heart with unimaginable pain. Heaven is in heaven now, but she leaves us in a hell of our own making. Her story is not just a singular tragedy; it is a reflection of a

August 20, 2024 • By Addis Insight

Business

Addis Ababa Prepares for Corridor Development Phase II: Linking City Center with Expanding Neighborhoods

In a significant development for Addis Ababa’s urban planning, Phase II of the city’s corridor project is set to build on the achievements of Phase I, which enhanced urbanization and infrastructure. This upcoming phase aims to refine and extend the successes of its predecessor by integrating effective practices and addressing previous challenges. The new phase

August 16, 2024 • By Addis Insight

Business

IMF Sets Critical Deadlines and Preconditions for Ethiopia’s Access to Extended Credit Facility Funds

The International Monetary Fund (IMF) has laid out a series of critical deadlines and stringent preconditions that Ethiopia must meet to access funds under the Extended Credit Facility (ECF). This comes at a crucial time when the Ethiopian economy is navigating complex challenges, including a liquidity crisis and the need for structural reforms. Continuous Conditionality

August 16, 2024 • By Addis Insight

Entertainment & Arts

Veronica Adane’s Album is Set to Break Ethiopian Music Records with 17 Million Birr Deal

Renowned Ethiopian singer Veronica Adane, who has captivated audiences with her array of hit songs, is set to release her highly anticipated new album on August 24. In an unprecedented deal, the album has been sold for a staggering 160 thousand US dollars, equivalent to over 17 million birr, according to insider information obtained by

August 16, 2024 • By Addis Insight

Opinion

Behind-the-Scenes in the GERD Diplomacy: Turkey’s Pivotal Role in the Standoff Between Ethiopia and Egypt

By- Asrat Birhanu @renaissancedam Recent diplomatic activities, primarily kept from the public eye, reveal Turkey’s role in the ongoing dispute between Ethiopia and Egypt over the Renaissance Dam. As Ethiopia’s second-largest investor after China, Turkey’s economic and military involvement is substantial, with more than 200 Turkish companies operating there as of 2022. Additionally, Turkey provided

August 16, 2024 • By Addis Insight