Business

Addis Ababa City Administration Introduces New System for VAT Taxpayers to File Monthly Returns

The Addis Ababa City Administration Revenue Bureau has announced the introduction of a new system for over 62,000 VAT taxpayers, designed to enhance VAT service delivery and provide more efficient services. According to the bureau, there are over 62,000 VAT taxpayers in Addis Ababa, and many of them tend to file their returns on the

February 28, 2025 • By Addis Insight

Uncategorized

Commercial Bank of Ethiopia Tightens Access to Customer Accounts Amid Escalating Fraud Crisis

February 27, 2025 In a drastic move to curb mounting fraud, the Commercial Bank of Ethiopia (CBE) has significantly restricted access to customer account balances, a policy shift that threatens to complicate the bank’s service delivery. As of February 24, 2025, tellers across the country no longer have access to account balances, leaving this privilege

February 28, 2025 • By Addis Insight

Uncategorized

From Sea Dreams to Regional Nightmares: Abiy’s Folly Exposed

By- Fasil Z Abiy Ahmed’s diplomatic visit to Mogadishu on February 27, 2025, might appear as a statesman smoothing over rough edges, but beneath this thin veneer lies a desperate scramble to clean up the mess he created with the Somaliland Memorandum of Understanding (MoU). Signed on January 1, 2024, the MoU—trading sea access for

February 28, 2025 • By Addis Insight

Politics

PM Abiy Arrives in Somalia for Talks on Security, Trade, and Diplomatic Relations

Ethiopian Prime Minister Abiy Ahmed arrived in Mogadishu today, where he was warmly received by Somali President Hassan Sheikh Mohamud. The visit aims to reinforce bilateral ties, with discussions set to focus on security cooperation, economic collaboration, and strengthening diplomatic relations, according to Somalia’s state news agency, SONNA. This marks Abiy’s first visit to Somalia

February 27, 2025 • By Addis Insight

Business

Ethiopia’s Bitcoin Mining Boom: The Cheapest in the World, But at What Cost?

Key Findings How Much Electricity is Needed to Mine 1 Bitcoin After the 2024 Halving? The amount of energy required to mine one Bitcoin remains high, increasing costs depending on local electricity prices. On average, mining 1 BTC consumes around 6,400,000 kilowatt-hours (kWh) of electricity. This is equivalent to: Bitcoin mining has become more energy-intensive

February 27, 2025 • By Addis Insight

Business

There Are 616 Ethiopian Restaurants in the U.S : A State-by-State Breakdown

Ethiopian cuisine has firmly established its presence in the United States over the past few decades. Known for its flavorful wot (stews) served atop injera – a tangy, spongy flatbread made from the grain teff that doubles as both plate and utensil 0 – Ethiopian dining offers a unique communal experience. Diners traditionally share a

February 26, 2025 • By Addis Insight

Business

National Bank of Ethiopia Announces Exchange Rate of 135 Birr per USD Following Special ForEx Auction

Addis Ababa, Ethiopia – The National Bank of Ethiopia (NBE) has announced that the average exchange rate for the US dollar reached 135.6185 Birr following a special foreign exchange auction. This latest round of bidding saw the participation of 27 commercial banks, reflecting significant market engagement in the central bank’s ongoing efforts to regulate the

February 25, 2025 • By Addis Insight

Business

Ethiopia Nears Final Negotiations for WTO Membership

Addis Ababa, Ethiopia – Ethiopia is set to engage in a critical round of negotiations by the end of February or early March as it moves closer to securing membership in the World Trade Organization (WTO). This marks a significant step in the country’s long-standing aspiration to join the global trade body, a process that

February 24, 2025 • By Addis Insight

Business

National Bank of Ethiopia to Conduct $60 Million Foreign Exchange Auction

Addis Ababa, Ethiopia – February 24, 2025 – The National Bank of Ethiopia (NBE) has announced that it will conduct a Special Foreign Exchange Auction on February 25, 2025, with a total offering of $60 million. The auction is open to participation by all banks. According to the NBE, the auction follows the implementation of

February 24, 2025 • By Addis Insight

Business

ADMAS Chatbot: Ethiopia’s Game-Changer for Startups and SMEs

NUNA Ethiopia has launched ADMAS Chatbot, an AI-powered business development tool aimed at supporting startups, SMEs, and entrepreneurs in Ethiopia. The chatbot is designed to provide easy access to business resources, industry insights, and mentorship opportunities. The initiative has been developed in collaboration with the Ministry of Innovation and Technology – Ethiopia, the Japan International

February 24, 2025 • By Addis Insight