Politics

Somalia Delegation Visits Addis Ababa to Reinforce Ankara Agreement

A delegation led by Somalia’s Minister of Foreign Affairs and International Cooperation, Ali Omar, arrived in Addis Ababa today, December 14, 2017. The visit aims to strengthen commitments outlined in the historic Ankara Agreement. In a statement released on its official X page, Somalia’s Ministry of Foreign Affairs emphasized that the visit seeks to “reinforce

December 23, 2024 • By Addis Insight

Sport

Former Athlete Sileshi Sihine Elected President of Ethiopian Athletics Federation

At the 28th General Assembly of the Ethiopian Athletics Federation, a pivotal election was held to determine the federation’s president for the next four years. Sileshi Sihine, a renowned former long-distance runner and Olympic silver medalist, was elected as president, representing the Oromia region. His appointment marks a new era for Ethiopian athletics, as an

December 22, 2024 • By Addis Insight

Politics

French President Macron Arrives in Ethiopia

French President Emmanuel Macron has arrived in Addis Ababa, Ethiopia, moments ago on an official working visit. Upon his arrival at Bole International Airport, he was warmly received by Prime Minister Abiy Ahmed (PhD). Before coming to Addis Ababa, Macron made a working visit to neighboring Djibouti. Photo: Prime Minister Abiy Ahmed (PhD) welcomes French

December 21, 2024 • By Addis Insight

Business

World Bank Approves $700 Million Boost for Ethiopia’s Financial Sector

WASHINGTON, December 19, 2024 – Ethiopia’s financial system is set to receive a transformative boost following the World Bank’s approval of a $700 million credit for the Financial Sector Strengthening Project (FSSP). This ambitious initiative, funded through the International Development Association (IDA), aims to fortify the stability and resilience of Ethiopia’s financial sector, laying the

December 21, 2024 • By Addis Insight

Business

Amhara Bank Urges Local Banks to Merge Amid Foreign Banks’ Entry

On December 18, 2024, Ethiopia’s parliament ratified a landmark banking proclamation allowing foreign banks to operate within the country. This move represents a pivotal step in Ethiopia’s ongoing economic reforms, enabling foreign banks to establish subsidiaries, open branches, and acquire up to 40% ownership in local banks. The decision to open the banking sector to

December 20, 2024 • By Addis Insight

Business

National Bank of Ethiopia Launches Platform for Customer Complaints

Addis Ababa, Ethiopia The National Bank of Ethiopia (NBE) has introduced an online platform and a dedicated hotline (7230) to assist customers in lodging complaints against financial institutions. This initiative reflects NBE’s commitment to addressing common issues in the financial sector, such as aggressive sales practices, deceptive advertising, and inadequate transparency, as detailed in a

December 20, 2024 • By Addis Insight

Politics

U.S. Urges Ethiopia to Remove Implicated Officials—Ambassador Beth Van Schaack Calls for Accountability

In a recent press briefing organized by the U.S. Department of State’s Africa Regional Media Hub, Ambassador Beth Van Schaack, the U.S. Ambassador-at-Large for Global Criminal Justice, discussed Ethiopia’s ongoing efforts to establish a transitional justice framework. The briefing focused on Ethiopia’s potential to address historical grievances and ongoing challenges. Transitional Justice: A Victim-Centered Approach

December 20, 2024 • By Addis Insight

Business

Behind the Fintech Boom: Ethiopian Fintech’s Untold Challenges

Ethiopia’s Financial Technology (fintech) sector is on a promising upward trajectory, driven by innovative products and a growing appetite for digital solutions. Mobile wallets, online banking, and digital payment platforms are transforming the way people transact, making financial services more accessible than ever before. From peer-to-peer transfers to bill payments, fintech is reshaping how individuals

December 19, 2024 • By Addis Insight

Africa News

Ethiopian Cargo Expands Fleet with Two Boeing 767 Freighters to Meet Growing Demand

Addis Ababa, — Ethiopian Cargo and Logistics Services has announced the addition of two Boeing 767 freighters, ET-BBE and ET-BBF, to its growing fleet. This move marks a significant enhancement in the airline’s capacity to meet the surging global demand for air cargo services. With the addition of the two aircraft, Ethiopian Cargo now

December 17, 2024 • By Addis Insight

Business

Digital Money Transfers Surpass Cash Transactions in Ethiopia, Says National Bank Governor

On December 17, 2024, the Governor of the National Bank of Ethiopia (NBE), Mamo Miheret, addressed the House of People’s Representatives, highlighting the increasing digitization of the country’s financial system. According to his statement, digital money transfers facilitated by banks have now exceeded cash transactions this year. Governor Mamo noted that Ethiopia’s banking activities are

December 17, 2024 • By Addis Insight