Business

WIDU.Africa: Unlocking Entrepreneurial Potential in Ethiopia through Diaspora Collaboration

In a world increasingly focused on harnessing technology to bridge economic divides, WIDU.Africa stands out as an innovative platform transforming how diaspora communities contribute to the development of their countries of origin. Launched in Ethiopia in August 2021, WIDU.Africa connects Ethiopian entrepreneurs with members of the African diaspora in Europe, creating a collaborative framework that

January 6, 2025 • By Addis Insight

Culture

Syriana: How Muhammed Abdulkader Built a Sweet Empire in Addis Ababa

In the heart of Addis Ababa, where cultures mix and flavors blend, one restaurant has managed to introduce a taste of Syria to Ethiopia’s food lovers. Syriana, a cozy spot known for its Kunafa, Baklava, and other Middle Eastern sweets, has become a go-to place for dessert enthusiasts. The mastermind behind this success is Muhammed

January 4, 2025 • By Addis Insight

Ethiopian War

Addressing the Root Cause: Why Ethiopia Must Abandon Ethnic Federalism for National Unity

Bedilu Mulualem This is a follow-up of my rejoinder: Critique of Messay Kebede’s “Elites’ Power Grab Contra People’s Empowerment” Based on lived experience and root cause analysis, Ethiopia’s ethnic federalism, instituted under the 1995 constitution, has exacerbated divisions, triggered conflicts, and undermined the practice of democracy and the protection of individual rights. By promoting a

January 4, 2025 • By Addis Insight

Business

Eight Public Development Organizations Officially Join Ethiopian Investment Holding

Eight public development organizations have officially joined Ethiopian Investment Holding. The newly added companies include Ethio Post, Ethio Engineering Group, Ethiopian Industrial Resources Development Corporation, Ethiopian Railways Corporation, Industrial Parks Development Corporation, Ethiopian Development Bank, Ethiopian Electric Power, the National Animal Health Institute, and ShieldVax, which is part of the Ethio Pharma Group. The official

January 4, 2025 • By Addis Insight

Business

MIDROC Investment Group to Build $200 Million Gold Processing Plant in Benishangul-Gumuz, Ethiopia

MIDROC Investment Group, owned by Ethiopian-born Saudi billionaire Mohammed Al-Amoudi, is investing over 26 billion Ethiopian birr (approximately US $200 million) to build a modern gold processing factory in Ethiopia. This move is aimed at enhancing the country’s gold production capabilities and supporting the broader economic growth of the region. The factory will be located

January 4, 2025 • By Addis Insight

Uncategorized

Earthquake Measuring 5.5 on the Richter Scale Strikes Awash Fentale and Surrounding Areas

An earthquake measuring 5.5 on the Richter scale struck Awash Fentale and surrounding areas at 2:01 AM tonight, according to the United States Geological Survey (USGS). Many residents in the region reported feeling the tremors, indicating the quake was widely experienced. This earthquake is the strongest recorded in recent days among a series of seismic

January 3, 2025 • By Addis Insight

Business

Ethio Telecom Claims Company is World’s Cheapest Service Provider 

Frehiwot Tamiru, CEO of Ethio Telecom, took the spotlight at Parliament yesterday, answering over 200 questions from lawmakers about the company’s growth and its role in Ethiopia’s digital revolution. She proudly shared how Ethio Telecom’s commitment to cost-effective services has positioned it as the world’s cheapest telecom provider. “Over the last five years, our focus

January 2, 2025 • By Addis Insight

Market

Haile Hotels & Resorts Group Unveils 10th Property in Jimma

JIMMA, ETHIOPIA – Haile Hotels & Resorts Group, a hospitality brand founded 15 years ago, has announced the completion of its newest property, Haile Resort Jimma, built in just under two years. The resort—the group’s 10th destination—will officially open its doors tomorrow, January 2 (Ethiopian Calendar: Tahsas 24, 2017 E.C.). According to Mr. Tesfaye Asrat,

January 1, 2025 • By Addis Insight

Business

Faida Digital ID Requirement for Bank Account Openings in Addis Ababa Starts to Take Effect Today

Addis Ababa, December 23, 2017 – In a landmark move to streamline banking services and promote financial inclusion, the National Bank of Ethiopia (NBE) announced that all banks in Addis Ababa must now require customers to present a Faida digital ID—commonly referred to as the “Faida number”—when opening a new account. This directive officially took

January 1, 2025 • By Addis Insight

Business

National Bank of Ethiopia Holds Policy Rate at 15% to Curb Inflation and Boost Stability

Addis Ababa, December 31, 2024The Monetary Policy Committee (MPC) of the National Bank of Ethiopia (NBE) held its inaugural meeting to evaluate the nation’s macroeconomic landscape and chart an effective monetary policy course. In a period marked by fiscal and global economic challenges, the MPC’s deliberations and subsequent decisions aim to balance price stability and

December 31, 2024 • By Addis Insight