Business

Ethiopian Capital Market Authority Issues Compliance Directive for Public Companies

Addis Ababa, February 4, 2025 — The Ethiopian Capital Market Authority (ECMA) has issued a public notice requiring all publicly held companies in Ethiopia to submit detailed information about their existing shares. This move follows the enactment of the Public Offer and Trading of Securities Directive No. 1030/2024, which took effect on November 13, 2024.

February 4, 2025 • By Addis Insight

Business

Ethiopia and Russia Expand Non-Dollar Trade Amid Potential U.S. Tariffs

Ethiopia has strengthened its economic ties with Russia by reaching a new trade agreement that allows transactions in their respective national currencies, bypassing the US dollar. This move is part of Ethiopia’s broader strategy to address its persistent foreign currency shortages while deepening trade relations with global partners outside the Western financial system. The agreement

February 3, 2025 • By Addis Insight

Business

Addis Ababa Revenue Bureau Establishes Quality Assurance Unit for Tax Audits

The Addis Ababa City Administration Revenue Bureau has announced the establishment of a new quality assurance unit to enhance the accuracy and fairness of tax audit decisions. This unit will be responsible for re-auditing tax assessments to ensure their quality and correctness. The newly formed unit aims to review audit decisions that were previously solely

February 3, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Surpasses 1.4 Trillion Birr in Total Deposits

The Commercial Bank of Ethiopia (CBE) has achieved a significant milestone, with its total deposits exceeding 1.4 trillion birr. This accomplishment was announced during the bank’s half-year performance review for the 2017 fiscal year, highlighting its robust financial growth and operational efficiency. In the first six months of the fiscal year, the CBE successfully mobilized

February 3, 2025 • By Addis Insight

Business

Ethiopian Shipping and Logistics Reports 9.3 Billion Birr Profit in the First Half of the Fiscal Year

Addis Ababa, Ethiopia – Ethiopian Shipping and Logistics (ESL) has recorded a 9.3 billion birr profit in the first half of the 2024/25 fiscal year, significantly exceeding its initial financial projections. As Africa’s only deep-sea shipping operator, ESL continues to strengthen its foothold in the maritime logistics industry, contributing to Ethiopia’s trade and economic growth.

February 3, 2025 • By Addis Insight

Business

Ethiopia to Lift Lending Cap by September, Paving the Way for Credit Expansion

Ethiopia is set to remove its two-year-old lending cap by September 2025, a major shift aimed at stimulating credit growth and supporting economic expansion. The move, announced in the latest International Monetary Fund (IMF) review of Ethiopia’s economic reform program, is part of broader efforts to modernize the country’s financial sector and transition toward a

February 3, 2025 • By Addis Insight

Health

Bahir Dar University Condemns Killing of Renowned Surgeon Dr. Andualem Dagne

Bahir Dar University has condemned the killing of Dr. Andualem Dagne, a highly respected General Surgery Specialist and expert in Liver, Pancreatic, and Biliary System surgery. Dr. Andualem, who was also a lecturer, researcher, and Director of the Surgical Services Department at Tsebebe Ghion Specialized Hospital, was fatally attacked while returning home from work. In

February 2, 2025 • By Addis Insight

Books

Poet and Tobiya Jazz Event Organizer Misraq Terefe Arrested Amid Unclear Circumstances

Poet and renowned literary event organizer Misraq Terefe was arrested on January 22, 2017, and taken to the Addis Ababa Police Commission for questioning. The arrest has sparked concern among Ethiopia’s literary and artistic community, as the reason for her detention remains undisclosed. Misraq Terefe appeared before the Federal First Instance Court, Arada Division, on

February 1, 2025 • By Addis Insight

Health

Dr. Tedros to Return to Ethiopia for AU Summit After 5-Year Absence

World Health Organization (WHO) Director-General Dr. Tedros Adhanom is set to return to Ethiopia for the first time in five years as he attends the upcoming African Union (AU) summit in Addis Ababa in two weeks. His visit comes after a prolonged period of strained relations with the Ethiopian government, largely stemming from his vocal

February 1, 2025 • By Addis Insight

Business

Bank Abyssinia Inaugurates Modern Banking Service Center in Collaboration with Chaka Buna

Bank Abyssinia inaugurated its state-of-the-art banking service center at its headquarters yesterday, January 22, 2017, in collaboration with Chaka Buna. The event was celebrated with great enthusiasm in the presence of the bank’s CEO, Ato Bekalu Zeleke, Chaka Buna owner, Ato Bisrat Belay, and other invited guests. Bank Abyssinia has always been at the forefront

January 31, 2025 • By Addis Insight