Business

Simonpietro Salini, Renowned Builder and Friend of Ethiopia, Passes Away

Addis Ababa, July 21, 2024 – The construction world mourns the loss of Simonpietro Salini, a key figure in the global infrastructure sector and a dedicated supporter of Ethiopia’s development. Salini, who played a vital role in the transformation of Webuild Group (formerly Salini Impregilo), passed away recently, leaving behind a legacy marked by monumental

July 21, 2024 • By Addis Insight

Uncategorized

From Eritrea to the Champs-Elysées: Biniam Girmay’s Unprecedented Tour de France Triumph

On July 21, 2024, Biniam Girmay made history by becoming the first African cyclist to win the prestigious Green Jersey at the Tour de France. This achievement not only marks a personal milestone for Girmay but also a significant moment for African sports, demonstrating the rising prominence of African athletes on the global stage. A

July 21, 2024 • By Addis Insight

Business

Tesla-Powered Luxury: Henock Demissew’s VIP Taxi Service Redefines Addis Ababa’s Transport

Addis Ababa, Ethiopia – In the bustling streets of Addis Ababa, Henock Demissew is making waves in the luxury transportation industry. The owner of VIP Taxi and Henock Car has been significantly impacting the way the city’s elite and visitors commute since launching his business a year ago. His journey began with a chance encounter

July 21, 2024 • By Addis Insight

Business

47 Years in the Making: Eneredada Cooperative Battles Sudden Eviction in Addis Ababa

The members of “Eneredada Multipurpose Consumers Union Limited Liability Company,” which has been managing two properties behind Mado Hotel and Dessalen Hotel in Bole sub-district in Addis Ababa for the past 47 years, complained that they were informed that the properties would be transferred to individuals. Mrs. Manyahlushal Kebede, chairman of the association’s board, told

July 20, 2024 • By Addis Insight

Sport

ESPN Ranks Kenenisa Bekele and Tirunesh Dibaba Among Africa’s Best Athletes

Ethiopia’s Athletes Shine in Africa’s Best Athletes of the 21st Century Are These Africa’s 25 Best Athletes of the 21st Century? From football to athletics to rugby to swimming, Africa has produced some of the world’s finest athletes. Leonard Solms and Lindsay du Plessis took on the daunting task of ranking the continent’s premier athletes

July 20, 2024 • By Addis Insight

Diaspora

Ethiopian-American Actress Ilfenesh Hadera Joins Denzel Washington in Spike Lee’s ‘High and Low’

Ilfenesh Hadera, known for her role in “Godfather of Harlem,” has been cast alongside Denzel Washington in the upcoming Apple and A24 film “High and Low,” an English-language reinterpretation of Akira Kurosawa’s 1963 crime thriller. Directed by Spike Lee, the film promises to be a riveting update of the classic story. Hadera’s collaboration with Spike

July 19, 2024 • By Addis Insight

Business

National Bank of Ethiopia Issues New Directive on Bank Investments

The National Bank of Ethiopia (NBE) has introduced a new directive aimed at regulating the investment activities of banks within the country. This move is part of the NBE’s broader strategy to deepen Ethiopia’s capital markets and ensure the stability and soundness of the banking sector. Key Highlights of the Directive Equity Investment Limits:The directive

July 19, 2024 • By Addis Insight

Business

Ethiopia Secures Critical Financing Assurances to Unlock New IMF Loan

Addis Ababa, July 18, 2024 – Ethiopia has successfully obtained key financing assurances from its creditors, a vital requirement for unlocking a new loan from the International Monetary Fund (IMF). This development is a significant milestone in Ethiopia’s efforts to stabilize its economy and pursue necessary reforms, according to Bloomberg. Highlights: Economic Implications: Ethiopia’s economy

July 19, 2024 • By Addis Insight

Business

Dashen Bank Reports a Profit of ETB 6.6 Billion

Dashen Bank, a prominent player in Ethiopia’s private banking sector, has reported a profit of ETB 6.6 billion for the fiscal year 2023/24, positioning it as a key competitor alongside Awash Bank. Established in 1995, Dashen Bank has demonstrated consistent growth, driven by strategic investments and operational efficiencies. According to the bank’s financial statements, it

July 18, 2024 • By Addis Insight

Africa News

Trump and Biden’s African Legacies: What the Next President Must Do Differently

Introduction The relationship between the United States and Africa is critical in shaping global geopolitical dynamics. The policies of President Donald Trump and President Joe Biden towards Africa have presented contrasting approaches. This article explores what the upcoming US president’s policy towards Africa should look like by comparing the Trump and Biden administrations, considering Africa’s

July 18, 2024 • By Addis Insight