Business

Import Substitution: The Key to Ethiopia’s Economic Resilience Amid Floating Exchange Crisis?

On Tuesday, fuel prices surged, a sharp reminder of the turbulent waves unleashed by Ethiopia’s shift to a floating exchange rate. This unshackled currency now dances to the unpredictable tune of market forces, sending shockwaves through industries and households alike. Importers grapple with relentless cost hikes, while exporters cautiously savor the promise of a level

January 10, 2025 • By Addis Insight

Business

House of Representatives Passes Law to Close Legal Loophole in Government and Public Property Restitution

The House of People’s Representatives has approved a new Property Restitution Law, designed to close legal loopholes in the recovery of government and public assets. During its 14th regular session held today, the House reviewed the draft law and considered the report and recommendations presented by the Standing Committee on Legal and Justice Affairs. Following

January 9, 2025 • By Addis Insight

Business

Ethiopia Faces Fuel Distribution Crisis with Fewest Gas Stations Per Capita in Africa

The House of Peoples’ Representatives has approved a draft proclamation aimed at regulating the trade of petroleum products in Ethiopia. The report, presented by the Standing Committee on Trade and Tourism Affairs, was reviewed and passed with two votes in favor and one against. During the session, Sahrela Abdulahi, Director General of the Petroleum and

January 9, 2025 • By Addis Insight

Uncategorized

Ethiopian Athletes Haile Gebrselassie and Feyisa Lilesa: A Clash of Perspectives on the Country’s Economic Hardship

Ethiopia’s economic condition has become a growing concern for its citizens, with rising inflation, soaring fuel prices, and an overall increase in the cost of living. Two of Ethiopia’s most renowned athletes, Haile Gebrselassie and Feyisa Lilesa, have recently voiced their perspectives on the issue, but their views stand in stark contrast to each other.

January 8, 2025 • By Addis Insight

Business

Commercial Bank of Ethiopia Reports 5.3 Trillion Birr in Digital Transactions in Six Months

The Commercial Bank of Ethiopia (CBE) has announced that it processed 5.3 trillion Birr through its digital banking services in the first half of the current fiscal year, highlighting the growing adoption of digital financial solutions in the country. According to the bank, 79 percent of all money transfer transactions are now conducted via digital

January 8, 2025 • By Addis Insight

Business

Air Arabia Introduces Direct Flights to Addis Ababa

Air Arabia has announced the launch of its latest direct flight service to Addis Ababa, Ethiopia’s capital, further expanding its global network. Starting January 30, the airline will operate three weekly flights between Sharjah International Airport and Addis Ababa Bole International Airport, with departures scheduled on Tuesdays, Thursdays, and Saturdays. Adel Al Ali, Group Chief

January 8, 2025 • By Addis Insight

Uncategorized

Mandatory National Digital ID for Banking Services in Addis Ababa Applies Only to New Customers—for Now

In Addis Ababa, possessing the Fayda Digital ID is becoming a necessity for accessing various services, including banking. However, banks operating in the city have so far mandated its use only for new customers, according to the National Digital ID Program. Growing Significance of the National Digital ID The adoption of digital identification systems is

January 8, 2025 • By Addis Insight

Culture

How The Melody of Myriads Became Ethiopia’s Newest UNESCO-Worthy Event

In an impressive feat of cultural and spiritual significance, Ethiopia’s Orthodox Church has seen the rapid rise of a newly established annual event, “The Melody of Myriads Ethiopian Jandereba Generation,” to the ranks of the country’s largest religious gatherings. Organized by The Ethiopian Jandereba Generation (IJAT), a general association officially recognized by the Office of

January 8, 2025 • By Addis Insight

Business

Ethiopia Adjusts Retail Fuel Prices Amid Market Changes

Addis Ababa, Ethiopia – January 7, 2025 The Ethiopian Ministry of Trade and Regional Integration has announced an adjustment in the retail prices of petroleum products, effective from January 7, 2025 (Tahsas 29, 2017 Ethiopian Calendar), at midnight (12:00 AM). The revised prices apply to Addis Ababa and will remain in effect for the next

January 8, 2025 • By Addis Insight

Politics

Veteran Ethiopian Politician and Economist Bulcha Demeksa Passes Away at 94

Addis Ababa, January 6, 2025 — Ethiopia mourns the loss of Ato Bulcha Demeksa, a distinguished politician, economist, and businessman, who passed away on January 6, 2025, at the age of 94. Born in 1930 in Boji Birmeji District, Ginbi Zone, Demeksa was a pivotal figure in Ethiopia’s political and economic spheres, leaving a lasting

January 6, 2025 • By Addis Insight