Business

From Kenya to Ethiopia: M-PESA Enhances Mobile Money Transactions

M-PESA Kenya has extended its mobile money services to Ethiopia, enabling seamless transactions between the two countries via M-PESA Global. This initiative is designed to increase mobile money adoption in Ethiopia, stimulate the local economy, and create new opportunities for both individuals and businesses. “This collaboration supports our commitment to providing innovative financial solutions tailored

October 14, 2024 • By Addis Insight

Culture

A Farewell in Tears: The Impact of Corridor Demolition on Gebi Gebriel Church and Its Community

This past Friday, the historic Gebi Gebriel Church in the heart of Addis Ababa’s Kasanchiz area became the setting for an emotional farewell unlike any it had ever seen. Followers, many of whom had grown up attending the church, gathered for a final service before they would be forced to leave their homes due to

October 14, 2024 • By Addis Insight

Business

Why Ethiopian Import and Export Traders Are Reluctant to Take Dollars from Banks Despite Cash Availability at Lower Rates

Despite a recent foreign exchange reform by the National Bank of Ethiopia (NBE) and substantial dollar allocations by the Commercial Bank of Ethiopia (CBE), Ethiopian import and export traders remain reluctant to access foreign currency from banks. Between July 22, 2024, and September 30, 2024, CBE distributed over USD 282 million across various sectors, yet

October 14, 2024 • By Addis Insight

Business

Ethio Telecom to Offer 10% Stake to Local Investors via TeleBirr App

Ethio Telecom, the state-owned telecommunications company, has been granted a broker license by the Capital Markets Authority of Ethiopia, enabling the company to sell 10% of its stake directly to local investors through its TeleBirr application. This initiative marks a shift from the previously planned method of selling shares through the Ethiopian Securities Market. According

October 13, 2024 • By Addis Insight

Politics

A Landmark Moment: Nile River Basin Commission Formed as CFA Takes Effect

The long-awaited Nile River Basin Cooperative Framework Agreement (CFA) has officially come into effect, paving the way for the establishment of the Nile River Basin Commission (NRBC). This marks a significant milestone in the efforts of Nile Basin countries to create a legal and institutional framework for the management and equitable use of the Nile

October 13, 2024 • By Addis Insight

Uncategorized

Ethiopia Considers Legalizing Sperm Donation: New Bill Proposes Assisted Reproductive Services

A significant development in Ethiopia’s healthcare landscape is currently unfolding, as a new bill has been submitted to the House of Representatives that could legalize sperm donation in the country. Titled the Health Care Administration and Control Bill, this twelve-part legislation covers a wide range of health services and includes provisions for technology-assisted reproductive medicine.

October 12, 2024 • By Addis Insight

Uncategorized

Ethiopia’s Black Market Hits 140 Birr to the Dollar: A Growing Crisis in Foreign Exchange

Ethiopia’s black market exchange rate for the US dollar has reached a critical milestone, crossing the 140 birr mark. This widening gap between the black market and the official rates presents serious challenges for the country’s economy, businesses, and consumers. As of mid-October 2024, while the official National Bank of Ethiopia (NBE) rate stands at

October 12, 2024 • By Addis Insight

Business

Ethiotelecom’s 10% Public Share Sale: A Turning Point for Ethiopia’s Telecom Market

Ethiotelecom, Ethiopia’s state-owned telecommunications giant, has announced plans to begin selling 10 percent of its shares to the public. This marks a historic moment in the company’s 130-year legacy of providing cutting-edge telecom services across the country. The sale, which is set to commence on Wednesday, October 23 , 2024, follows the government’s recent decision

October 12, 2024 • By Addis Insight

Business

Commercial Bank of Ethiopia Allocates Over USD 282 Million in Foreign Exchange After Major Reform

Commercial Bank of Ethiopia Allocates Over USD 282 Million in Foreign Exchange After Major Reform Addis Ababa, Ethiopia — July 22, 2016 Following the National Bank of Ethiopia’s (NBE) overhaul of the foreign exchange management system, the Commercial Bank of Ethiopia (CBE) has announced the distribution of over USD 282 million to various sectors between

October 11, 2024 • By Addis Insight

Uncategorized

Immigration and Citizenship Services Extend Passport Validity to 10 Years

October 1, 2017 – The Immigration, Citizenship, and Services Office has announced that the validity period of passports will be extended from five years to ten years. Previously, passports were valid for five years before requiring renewal. However, under the new system, set to take effect in one month, citizens who are 25 years or

October 11, 2024 • By Addis Insight