Business

Awash Bank and Amhara Bank Lead the Way in Interoperable QR Payments

In a significant step toward modernizing Ethiopia’s payment ecosystem, Awash Bank and Amhara Bank have successfully tested the country’s first interoperable QR payment system. The initiative, spearheaded by EthSwitch, was showcased during a workshop at the Sheraton Addis, which brought together key stakeholders from Ethiopia’s financial sector, government agencies, and technology providers. The event provided

November 29, 2024 • By Addis Insight

Business

10 Must-Know Facts About Ethiopia’s Grand Renaissance Dam: Africa’s Energy Revolution!

1. Africa’s Largest Hydropower Project GERD is the largest hydropower project on the African continent. Once completed, it will have a generation capacity of 6,450 megawatts (MW), making it one of the largest in the world. This is nearly twice the size of the next largest African dam, the Inga 3 project in the Democratic

November 29, 2024 • By Addis Insight

Business

Ethiopia to Open Fuel Import Market to Private CompaQnies, Minister Kasahun Announces

In a groundbreaking move, Ethiopia’s Minister of Trade and Regional Relations, Dr. Kasahun Goffe, revealed that the government plans to open the fuel importation sector to private companies, ending the state monopoly that has existed for years. This decision is part of the government’s broader initiative to liberalize various business sectors and encourage market competition.

November 28, 2024 • By Addis Insight

Business

Ethiopia’s Economic Reform Gains Momentum: IMF Unlocks $251 Million Boost

The International Monetary Fund (IMF) has reached a significant milestone with Ethiopia, concluding a staff-level agreement on the second review of the four-year Extended Credit Facility (ECF) arrangement. This agreement underscores the progress Ethiopia is making in its homegrown economic reform program, signaling hope for continued growth and stability. A Strategic Partnership for Economic Reform

November 27, 2024 • By Addis Insight

Business

Ethiopian Airlines Added 3 New Weekly Flights to Rome

Ethiopian Airlines recently launched three new weekly flights between Addis Ababa and Rome, starting on November 22, 2017. The announcement was made through the airline’s social media platforms, where it emphasized its intention to provide passengers with more flexible and convenient travel options. The new service operated daily for three days a week, complementing the

November 27, 2024 • By Addis Insight

Society

Demolition and Despair: Mr. Dula’s Final Stand for His Community

By- Andualem Buketo On Friday, families and their children, who make a living by growing vegetables in the Peacock Park area, came to my office. “It is said that the settlement is about to be developed. We have been in this area for 73 years, since the time of our parents,” they told me. I

November 26, 2024 • By Addis Insight

Business

In Memory of Captain Mohamed Ahmed: The Leader Who Took Ethiopian Airlines to New Heights

The Ethiopian aviation industry has lost one of its most iconic pioneers with the passing of Captain Mohamed Ahmed (1932–2024). As a former CEO of Ethiopian Airlines, Captain Mohamed dedicated over a decade of his career to steering the airline through some of the most challenging and transformative periods in its history. His contributions not

November 26, 2024 • By Addis Insight

Business

House of People’s Representatives Approves 582 Billion Birr as Additional Federal Government Budget

The House of People’s Representatives of the Federal Democratic Republic of Ethiopia has approved an additional 582 billion birr federal government budget for the 2017 fiscal year. This decision was made during the House’s 6th regular session in its 4th year of office. The additional budget is earmarked for several critical purposes, including the repayment

November 26, 2024 • By Addis Insight

News

Meskerem Aberra Sentenced to One Year and Four Months in Prison for “Computer Crime”

Meskerem Aberra, the founder and owner of the social media platform Ethio Nqat, was sentenced to one year and four months in prison for a computer crime she was found guilty of three weeks ago. The Federal High Court’s First Special Crimes Division delivered the verdict. Meskerem Aberra’s lawyer, Ato Henok Aklilu, told the BBC

November 25, 2024 • By Addis Insight

Business

Commercial Bank of Ethiopia to Adjust Loan Interest Rates and Service Fees

Addis Ababa, Ethiopia – The Commercial Bank of Ethiopia (CBE) has announced its intention to implement adjustments to loan interest rates and service fees. The changes will apply to various services, including loan products, branch and digital banking, and international banking services. The bank has stated that the adjustments are aimed at aligning with current

November 24, 2024 • By Addis Insight