Uncategorized

Ethiopia to Introduce Guidelines for Cryptocurrency Transactions, Following NBE’s New Proclamation

The National Bank of Ethiopia (NBE) is poised to introduce regulations concerning cryptocurrencies and digital assets following today’s approval of the National Bank of Ethiopia Amendment Proclamation. This significant step reflects Ethiopia’s response to the rapid global developments in central banking and digital finance. The amended proclamation includes a provision that allows the NBE to

December 17, 2024 • By Addis Insight

Uncategorized

Ethiopia Opens Doors to Foreign Banks: Landmark Proclamation Paves the Way for International Investment

In a significant move to modernize Ethiopia’s financial landscape, the National Bank of Ethiopia (NBE) has secured approval for its draft proclamation, introducing transformative reforms aimed at ensuring economic stability, fostering innovation, and strengthening governance. At the heart of the proclamation is a recalibrated monetary policy framework, empowering the NBE to prioritize its objectives and

December 17, 2024 • By Addis Insight

Business

NBE’s Landmark Proclamation Ushers in Bold Reforms for Monetary and Financial Stability

In a major stride toward modernizing Ethiopia’s financial landscape, the National Bank of Ethiopia (NBE) has secured approval for its draft proclamation, introducing transformative reforms aimed at ensuring economic stability, innovation, and stronger governance. At the heart of the proclamation is a recalibrated monetary policy framework, empowering the NBE to prioritize its objectives and deploy

December 17, 2024 • By Addis Insight

Politics

President Erdoğan to Undertake Working Visit to Ethiopia and Somalia in 2025 Following Historic Agreement

Turkish President Recep Tayyip Erdoğan is set to undertake a working visit to Ethiopia and Somalia in the first months of 2025. The visit follows a breakthrough hailed as a “historic agreement” between Ethiopia and Somalia, brokered by President Erdoğan, which resolved a year-long diplomatic feud between the two nations. The agreement, reached after eight

December 16, 2024 • By Addis Insight

Business

Ethiopian Airlines Celebrates Air Congo’s Launch Tomorrow as Second Boeing 737 Lands in Kinshasa

Kinshasa, DR Congo – Ethiopian Airlines, Africa’s largest carrier, is ushering in a new era of aviation with the launch of Air Congo, a joint venture with the Democratic Republic of Congo (DRC). The airline’s second Boeing 737-800 touched down at Kinshasa International Airport yesterday, signaling the final preparations for Air Congo’s official debut. The

December 15, 2024 • By Addis Insight

Business

East Africa Electric Highway Begins Trial Supply from Ethiopia to Tanzania

The East Africa Electric Highway project, a pivotal power infrastructure initiative among Ethiopia, Kenya, and Tanzania, has entered a new phase with the official commencement of trial power supply from Kenya to Tanzania. This achievement builds on Ethiopia’s broader ambition to establish itself as a renewable energy hub in East Africa. Key Developments in the

December 15, 2024 • By Addis Insight

Business

Amid Severe Challenges, Bunna Bank Delivers 930.1 Million Birr Profit and 20% Growth in Deposits

In a year marked by economic hurdles, Bunna Bank S.C. has demonstrated remarkable resilience, reporting a pre-tax profit of 930.1 million birr for the fiscal year. Despite the challenges posed by high inflation, foreign exchange shortages, regulatory complexities, and regional conflicts, the bank managed to maintain a solid financial standing. Key highlights from the bank’s

December 15, 2024 • By Addis Insight

Business

Ethiopian Airlines Flight to Dubai Returns Safely to Addis Ababa After Technical Issue

Addis Ababa, December 14, 2024 – Ethiopian Airlines flight ET 612, en route from Addis Ababa to Dubai, experienced a technical issue approximately 30 minutes after takeoff. Following standard safety protocols, the aircraft returned to Addis Ababa and landed safely without incident. All passengers and crew were evacuated promptly and safely as a precautionary measure,

December 15, 2024 • By Addis Insight

Books

Jawar Mohammed’s Memoir: “I Will Not Regret” – A Bold Reflection on Ethiopia’s Political Struggles

Jawar Mohammed, one of Ethiopia’s most influential and polarizing political figures, is set to release his memoir titled “I Will Not Regret” next week in Nairobi, Kenya. Written in Amharic (“አልፅፅትም “), and Oromo (“Hin Gaabbu”), the book recounts Jawar’s journey through Ethiopia’s turbulent political landscape, chronicling his life, his role in the Oromo struggle,

December 14, 2024 • By Addis Insight

Business

Addis Ababa Mandates Full Nighttime Lighting on Main Roads

The Addis Ababa City Administration Cabinet held its 4th regular meeting today, during which several important decisions were discussed and approved to improve services and city management. Key Resolutions: A regulation aimed at preventing pollution in rivers and along riverbanks has been approved. This measure is intended to benefit public health and enhance the city’s

December 14, 2024 • By Addis Insight