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Ato Taye Dendea Cleared of Two Charges, Ordered to Defend Third

Ato Taye Dendea was acquitted of two charges but was ordered to defend himself on a third charge. Addis Ababa, July 30, 2016 (FBC) — Former Minister of State for Peace, Taye Dendea, was acquitted of the first and second charges and was ordered to defend himself against the third charge. The Federal High Court’s

August 6, 2024 • By Addis Insight
Business

Ethiopia’s Economic Surf: Riding the Reform Wave to Sustainability

                                    By Eyob Asfaw The Sunday night of the date- July 28 was different for Ethiopians living elsewhere within its boundary; especially for the urban elites who access the media and can easily resonate what was said.  On that date, the government unusually released a communique on which announced the macro-economic reforms, including its u-turn

August 6, 2024 • By Addis Insight
Uncategorized

Ethiopia Keeps Fuel Prices Steady in August Despite Currency Floating

Addis Ababa, July 30, 2016 – The Ministry of Trade and Regional Cooperation has announced that the retail sale of petroleum products in August 2016 will continue at the same price as in July. Minister of Trade and Regional Cooperation, Dr. Kasahun Goffe, stated that an order has been issued to maintain gas station prices

August 6, 2024 • By Addis Insight
Sport

Tsige Duguma Secures Ethiopia’s First Olympic Medal in the 800 Meters

Ethiopian athlete Tsige Duguma has made history by winning a bronze medal in the women’s 800 meters at the Paris 2024 Olympics. This achievement marks Ethiopia’s first-ever Olympic medal in this distance, a notable addition to the nation’s storied history in middle and long-distance running events. Duguma, born in 2001, demonstrated her exceptional talent and

August 5, 2024 • By Addis Insight
Business

Genesis Investment Bank Set to Launch with Comprehensive Financial Services Portfolio

Addis Ababa, Ethiopia – Genesis Investment Bank™, a new financial institution founded by Ermias Amelega, is preparing to enter the market with a broad range of financial services. The bank aims to provide comprehensive solutions including underwriting, venture capital, private equity, and asset management, targeting both local clients and foreign investors looking to engage with

August 5, 2024 • By Addis Insight
Business

Federal Government Introduces 551 Billion Birr Budget Increase

Federal Government to Present Additional Budget of 551 Billion Birr State Minister of Finance, Dr. Eyob Tekaleni, announced that the federal government will present an additional budget of 551 billion birr to the House of Representatives. This budget, which was approved by the government in June 2017, will bring the total budget for the fiscal

August 5, 2024 • By Addis Insight
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

IMF Agrees to $950 Million Exemption for Koysha Hydroelectric Dam and Project Completion

IMF Support for Ethiopia’s Macroeconomic Reform Program The Board of the International Monetary Fund (IMF) has recently endorsed Ethiopia’s macroeconomic reform program, detailing the decision and the agreements made with the Ethiopian government. A central aspect of this support is the Koysha Hydroelectric Dam project, a pivotal development initiative for the country. Koysha Hydroelectric Dam

August 4, 2024 • By Addis Insight
Entertainment & Arts

TV Icon Danayit Mekbib Leaves Kana TV After 8 Years

After eight remarkable years, the iconic TV host and internet sensation Danayit Mekbib is bidding farewell to Kana TV. Known for her dynamic presence on the popular show #Time, Danayit has captivated audiences across Ethiopia with her charm and charisma. Danayit’s journey with Kana TV began eight years ago, and she has since become a

August 3, 2024 • By Addis Insight