Sport

Ethiopian Heritage Athletes Outshine Ethiopian National Athletes at Paris 2024 Olympics

The Paris 2024 Olympics has been a stage of triumph, surprises, and historic moments for athletes worldwide. For Ethiopia, a nation with a rich history of producing world-class runners, these Games were expected to be another chapter in their Olympic success. However, an intriguing narrative emerged: athletes of Ethiopian heritage competing for other nations have

August 11, 2024 • By Addis Insight

Uncategorized

Tigist Assefa Wins Silver in Thrilling Women’s Marathon at Paris Olympics

In a breathtaking showdown at the Paris 2024 Olympics, Ethiopia’s Tigist Assefa secured the silver medal in the women’s marathon, narrowly missing out on gold in one of the most dramatic finishes in Olympic history. The race, which saw a leading group of five contenders gradually whittled down to just two, culminated in an intense

August 11, 2024 • By Addis Insight

Business

Dashen Bank Secures $40 Million Trade Finance Guarantee from African Development Bank

Addis Ababa, 09 August 2024 – The African Development Bank Group (AfDB) has approved a $40 million trade finance transaction guarantee facility for Dashen Bank, aimed at bolstering Ethiopia’s financial sector. This facility is a strategic move to support the country’s Small and Medium-Sized Enterprises (SMEs) and local corporations by facilitating their trade finance requirements.

August 10, 2024 • By Addis Insight

Sport

Tamirat Tola Wins Gold in Men’s Marathon at Paris 2024, Secures Ethiopia’s First Olympic Gold

Tamirat Tola Wins Gold in Men’s Marathon at Paris 2024, Ending Ethiopia’s 24-Year Drought Paris, August 10, 2024 – Ethiopian marathoner Tamirat Tola has triumphed in the men’s marathon at the Paris 2024 Olympic Games, securing Ethiopia’s first Olympic gold in this event after a 24-year hiatus. Tola’s victory is a historic moment for Ethiopia,

August 10, 2024 • By Addis Insight

Uncategorized

Dar Wins $6 Billion Contract for Ethiopian Airlines’ Revolutionary Airport Project

Ethiopian Airlines has entered into a significant partnership with Dar, a leading design and consultancy firm with operations across Ethiopia, Kenya, and Uganda, to oversee the design and planning of a new international airport. This ambitious project, set to transform air travel in the region, was formalized on August 3, 2016, through the signing of

August 9, 2024 • By Addis Insight

Business

Shewaber Rewards Secures Investment at $600K Valuation, Sets Sights on Major Expansion

Addis Ababa, Ethiopia – August 9, 2024 – Shewaber, the pioneering Restaurant Loyalty Reward Platform in Ethiopia, has successfully secured an investment at a $600,000 valuation from a foreign investor, marking a significant milestone for the startup founded by Eyoel Tesfaye and Besufekad Menji. Originally launched three years ago as an online bookstore offering free

August 9, 2024 • By Addis Insight

Uncategorized

The Battle Between Ethiopia’s Official and Black Markets: What Will the New Exchange Rate System Achieve?

The National Bank of Ethiopia’s recent shift to a market-based foreign exchange rate system has intensified eagerness over the effectiveness of this reform in curbing the hardened black market’s influence. Despite the policy’s goals of enhancing transparency and stability, the persistent gap between official and black market rates highlights the challenge of eliminating informal currency

August 9, 2024 • By Addis Insight

Business

Dr. Brook Taye Steps Down; Hana Tehelku Appointed New Director General of Ethiopian Capital Market Authority

Ethiopian Capital Market Authority Announces Leadership Change In a significant shift at the Ethiopian Capital Market Authority (ECMA), Dr. Brook Taye is stepping down after two years of distinguished service. Dr. Taye has been pivotal in the formation of the authority, establishing its regulatory framework and launching initiatives that have set a solid foundation for

August 8, 2024 • By Addis Insight

Entertainment & Arts

Drake’s ‘Blue Green Red’ Goes Viral with Oromo, Tigray, Amhara, and Habesha Tribes in the Spotlight

Drake’s latest track, “Blue Green Red,” has captured attention for its references to Ethiopian ethnic groups, including Oromo, Tigray, Amhara, and Habesha. These groups are integral to Ethiopia’s rich cultural tapestry, each with its own language and traditions. The song’s lyrics, which mention Ethiopian women, have resonated with listeners, sparking discussions online. Fans have humorously

August 8, 2024 • By Addis Insight

Business

NBE Opens Applications for Independent Forex Bureaus in Ethiopia

Addis Ababa, Ethiopia – August 8, 2024 – The National Bank of Ethiopia (NBE) has officially commenced the acceptance of applications for Independent Foreign Exchange Bureaus, as per the newly instituted Foreign Exchange Directive (FXD/01/2024) that became effective on July 29, 2024. This marks a significant step towards liberalizing the country’s foreign exchange market. Under

August 8, 2024 • By Addis Insight