Society

Education Cannot Wait Announces US$24 Million Catalytic Multi-Year Resilience Programme Grant in Ethiopia,

With nearly 8 million children out of school due to emergencies alone, ECW calls of donors to urgently increase funding for life-saving quality education in Ethiopia. Save the Children and a consortium of international and local partners will deliver the three-year programme in coordination with the Government of Ethiopia. Education Cannot Wait (ECW) and its

November 18, 2024 • By Addis Insight

Entertainment & Arts

From Directions to Connections: How Konta’s TikTok Fame Is Redefining Ethiopian Marketing

Viral by Chance, Famous by Choice: The Rise of Ethiopia’s Unintentional TikTok Superstars Why focus only on the negatives of social media when it has the power to rewrite lives in the most unexpected ways? Currently, people who have never owned a smartphone or heard of hashtags are becoming unlikely stars after their unplanned moments

November 16, 2024 • By Addis Insight

Business

Residents Ordered to Leave Bishoftu Amid Land Leases to Emirati Investors

In an effort to position the city as an “East African tourism center,” reports have emerged that significant portions of land in Bishoftu are being leased to investors from the United Arab Emirates. Residents say they have been instructed to vacate their properties within a week. “We have heard that up to 80 percent of

November 16, 2024 • By Addis Insight

Business

Abyssinia Bank Reports Over 5 Billion Birr Gross Profit for 2023/24 Fiscal Year

Abyssinia Bank has reported a gross profit of 5.28 billion birr for the 2023/24 fiscal year, representing a growth of 0.92% compared to the previous year. The announcement was made during the bank’s 28th Annual General Meeting of Shareholders, where key financial highlights were presented. Key Financial Performance: The meeting provided an overview of the

November 15, 2024 • By Addis Insight

Business

Ethiopian Government Raises Customs Duty on Imported Electric Vehicles

In a notable policy shift, the Ethiopian government has increased customs duty on imported electric domestic vehicles, raising the rate from 15 percent to 20 percent. The decision to implement a 5 percent increase follows the International Monetary Fund’s (IMF) call for Ethiopia to expand its tax base. However, it may impact vehicle affordability in

November 14, 2024 • By Addis Insight

Business

Ethiopian Capital Market Authority’s First Investment Directive Approved at the 2024 Capital Markets Summit

The Ministry of Justice has recently approved groundbreaking guidelines from the Ethiopian Capital Markets Authority (ECMA) focused on public offerings and trading of documented investments. Announced at the 2024 Capital Markets Summit in Addis Ababa, this directive represents the first formal document guiding investment provisions in Ethiopia, setting the stage for a structured, secure, and

November 14, 2024 • By Addis Insight

Uncategorized

National Bank of Ethiopia Launches New 50% Foreign Currency Retention Policy Starting Tomorrow

The National Bank of Ethiopia (NBE) has announced that starting tomorrow, exporters will have the option to sell 50 percent of the foreign currency they generate immediately while retaining the remaining 50 percent in their accounts indefinitely. Previously, exporters were required to sell half of their foreign currency earnings to banks upon receipt and the

November 13, 2024 • By Addis Insight

Entrepreneurship

Creative DNA Ethiopia 2.0 Pop-Up Showcases Bold & Innovative DesignsJoin Us for an Exclusive Event Featuring Emerging Ethiopian Fashion Talent

ADDIS ABABA, 11 NOVEMBER 2024 – The future of Ethiopian fashion is on display! The Creative DNA: Ethiopia 2.0 program invites you to an exclusive two-day pop-up event on November 16th and 17th, 2024, from 9:30 AM to 5:00 PM at The British Council, Addis Ababa. This exciting showcase will feature collections from Ethiopia’s most

November 13, 2024 • By Addis Insight

Uncategorized

Minister Hanna Arayaselassie’s Proposed Asset Seizure Bill: A New Approach to Addressing Unexplained Wealth in Ethiopia

The debate over Ethiopia’s proposed asset recovery bill has centered around its high-stakes approach to combating illicit wealth, with a particular focus on assets exceeding the 10 million birr threshold. This monetary cut-off, if the bill passes, will authorize the Ministry of Justice to retroactively investigate and potentially seize properties acquired through “unexplained means” —

November 13, 2024 • By Addis Insight

News

State and Ransom: Jawar Mohammed’s Alarming Account of Ethiopia’s Forced Conscription Crisis

In a recent Facebook post, Jawar Mohammed, a prominent figure in Ethiopian politics, raised urgent concerns over the worsening crisis of kidnappings for ransom by armed groups in Ethiopia. Jawar’s post highlighted a disturbing reality: while such crimes are typically associated with non-state actors, there are troubling reports implicating government forces in colluding with these

November 13, 2024 • By Addis Insight