Business

Ethiopia’s Parallel Forex Rate Surges to 150 ETB, Testing Government Reforms

Ethiopia’s forex parallel market continues to experience significant volatility, with the rate soaring to 150 ETB per USD, a sharp increase from the 130 ETB per USD recorded just two weeks ago. This fluctuation underscores the challenges of aligning the official and parallel exchange rates, despite ongoing efforts by the government and commercial banks to

January 14, 2025 • By Addis Insight

News

Ethiopia Approves Landmark Property Tax Law Amid Debate on Economic Impact

Addis Ababa, January 14, 2025 – The House of People’s Representatives has officially passed a new Property Tax Proclamation, introducing a landmark tax policy that imposes levies on urban land, buildings, and land improvements. The law is expected to bolster municipal revenue and finance infrastructure development, but it has also sparked heated debate regarding its

January 14, 2025 • By Addis Insight

Entertainment & Arts

Mahmoud Ahmed’s Grand Farewell: Celebrating 60 Years of Ethiopia’s Musical Legend

On January 11, 2025, Addis Ababa’s Millennium Hall witnessed a momentous event as Mahmoud Ahmed, Ethiopia’s legendary singer, bid farewell to the stage. The emotional night saw thousands of fans paying tribute to his six-decade-long career, alongside performances by Lij Michael, Gossaye Tesfaye, Tadelle Roba, and many more. Even President Sahle-Work Zewde attended, highlighting Mahmoud’s

January 13, 2025 • By Addis Insight

Business

Ethiopia-Djibouti Railway Reports First-Time Profitability

Addis Ababa, Ethiopia – The Ethiopia-Djibouti Railway has reported achieving profitability for the first time since its inception. The announcement was made by Takkele Uma, Chief Executive Officer of the Ethiopia-Djibouti Railway Transport Corporation, stating that the railway became financially viable in the last quarter of 2024. According to Takkele, this development reflects the impact

January 13, 2025 • By Addis Insight

Business

Washington Dulles Becomes Ethiopian Airlines’ Top Route for Airbus A350-1000 Flights

Ethiopian Airlines has officially taken delivery of Africa’s first Airbus A350-1000, registered as ET-BAW, on November 5, followed by a second aircraft, ET-BAX, which arrived in Addis Ababa on December 7. While these aircraft are deployed on multiple routes, Washington Dulles is expected to see more A350-1000 flights than any other destination in the airline’s

January 13, 2025 • By Addis Insight

Business

Addis Insight Launches Exclusive Birr Exchange Rate Plugin & Converter

Now Offering the Best Daily Exchange Rates—Exclusively for Addis Insight Users – – Addis Insight is proud to introduce its enhanced Birr Exchange Rate WordPress Plugin & Birr Converter, designed exclusively for Addis Insight’s platform. This powerful tool ensures users always get the best exchange rate of the day by automatically

January 12, 2025 • By Addis Insight

Politics

Ethiopia and Somalia Agree to Restore Bilateral Relations

PM Abiy Ahmed and President Hassan Sheikh Mohamud Meet in Addis Ababa January 3/2017 (Ahadu Radio) Ethiopian Prime Minister Abiy Ahmed and Somali President Hassan Sheikh Mohamud met today, January 3, 2017, in Addis Ababa for bilateral consultations. Following the improvement in diplomatic relations between the two countries in accordance with the Ankara Agreement; the

January 11, 2025 • By Addis Insight

Business

Wegagen Bank Becomes First Company Listed on Ethiopian Stock Exchange

Addis Ababa, January 10, 2025 – Wegagen Bank has officially become the first company to list on the Ethiopian Stock Exchange (ESX), marking a historic milestone in Ethiopia’s financial sector. The announcement was made during the ESX launch ceremony at the Science Museum in Addis Ababa, attended by Prime Minister Abiy Ahmed (PhD) and other

January 11, 2025 • By Addis Insight

News Wire

Somalia’s President to Visit Addis Ababa Tomorrow, Marking First Trip Since Ankara Agreement

Addis Ababa, January 12, 2025 – Somali President Hassan Sheikh Mohamud is set to visit Addis Ababa tomorrow, marking his first official trip to Ethiopia since the signing of the Ankara Agreement in December 2024. This visit signals a thaw in diplomatic tensions between the two neighbors, following months of strained relations over Ethiopia’s controversial

January 11, 2025 • By Addis Insight

Business

Ethiopia Launches the Ethiopian Securities Exchange (ESX)

Addis Ababa, January 10, 2025 (FM C) – Ethiopian Prime Minister Abiy Ahmed (PhD) has officially launched the Ethiopian Securities Exchange (ESX), marking a significant milestone in the country’s financial sector. In a statement shared on his social media platform, the Prime Minister declared: “In a historic step for our economy and financial system, we

January 10, 2025 • By Addis Insight