July 17, 2023
Djibouti: African Export-Import Bank Disburses U.S.$120 Million for Djibouti's Free Trade Zone Project, Boosting Ethiopian Maritime Connectivity
In September 2020, Ismaïl Omar Guelleh, the President of Djibouti, initiated the construction of a significant port known as the Damerjog Liquid Bulk Port in Djibouti (Photo:… Read more »
July 11, 2023
Ethiopia: #asdailyscoop - Import-Export Trade Registration System Undergoes Centralization Under Federal Government
Starting this week, a significant change has taken place in the trade industry as all registrations and license services for companies involved in import-export business will now… Read more »
July 10, 2023
Ethiopia: Addis Abeba City Council Approves Record 140.3 Billion Birr Budget for 2016 Fiscal Year, Surpassing Prior Year By 40.3%
The Addis Abeba City Council has approved a staggering budget of 140.3 billion birr for the upcoming 2016 Ethiopian fiscal year. The budget showed a significant increase of 40.3%… Read more »
July 07, 2023
Ethiopia: Govt Goes Ahead With Second Phase Economic Reform Despite Dismal Outcomes of the First
A delegation led by Prime Minister Abiy Ahmed that included Finance Minister Ahmed Shide and the governor of the National Bank of Ethiopia, Mamo Mihretu, met with Kristalina… Read more »
Ethiopia: Analysis - Fertilizer Shortage Amidst Widespread Illicit Trade Cripples Farmers, Threatens Productivity
According to the Ethiopian Agricultural Business Corporation, Ethiopia has bought over 12.8 million quintals of fertilizer this year out of which more than 8.5 million quintals… Read more »
Ethiopia: Government Pushes Forward With Second Phase Economic Reform Despite Lackluster Results
A delegation led by Prime Minister Abiy Ahmed that included Finance Minister Ahmed Shide and the governor of the National Bank of Ethiopia, Mamo Mihretu, met with Kristalina… Read more »
July 04, 2023
East Africa: Ethiopia to Enact Law Normalising Informal Cross-Border Trade Along Djibouti, South Sudan Borders
The Ethiopian government is taking strides to acknowledge and regulate the longstanding informal cross-border trade occurring along the Djibouti border. The Ministry of Trade and… Read more »
Ethiopia: Birr Plunges As Currency Crisis Worsens, Posing Serious Challenges for Economy
The local currency, the birr, has been experiencing a long-standing decline in value against major international currencies, most notably the US dollar. However, the current state… Read more »
June 19, 2023
Ethiopia: Visa Launches New Initiatives to Support Fintech Start-Ups, Women Entrepreneurs in Ethiopia
Regional President for Central and Eastern Europe, Middle East and Africa Andrew Torre emphasizes Visa's commitment to expanding digital payments in Ethiopia by working closely… Read more »
June 22, 2023
Ethiopia: NBE Edges Toward Issuing Banking Licenses to Foreign Investors, Cautions Local Banks
The National Bank of Ethiopia (NBE) said that it is on the verge of issuing banking licenses to foreign investors as part of the government's intention to open up the financial… Read more »
June 14, 2023
Ethiopia: Coffee Megaproject - Unleashing the Power of Ethiopia's Genes and Beans for a Flourishing Industry
A potential transformative coffee megaproject can amplify Ethiopian coffee's rich history and untapped potential, leveraging its remarkable genetic diversity for global impact… Read more »
June 13, 2023
Ethiopia: Wars Devour More Than U.S.$28 Billion in Economic Loss, Damages
Authorities estimated the economic loss and cost of damages to infrastructure due to Ethiopia's wars to have reached some US$28.765.7 billion, while they estimate post-war… Read more »
June 12, 2023
Ethiopia: Budget Deficit Warning Lights Drowning Out Deeper Economic Issues
The Ethiopian federal government's budget deficit for the current fiscal year is projected to reach 309 billion birr, exacerbating the macroeconomic stress currently faced by the… Read more »
Ethiopia: Ethiopia Appoints Air Force Commander As ET Group Board Chairman Replacing Girma Wake
Ethiopian Airlines Group has confirmed the appointment of Lieutenant General Yilma Merdassa, the Commander of Ethiopian Air Force, as board chairman of the Ethiopian Airlines… Read more »
June 05, 2023
Ethiopia: Gambella-Dembidollo Road in Western Ethiopia Operational After Three Years
The Gambella to Shebel, Dembidollo road, connecting Gambella and Oromia regions in Western Ethiopia, which was closed for more than three years due to insecurity problems in the… Read more »
Ethiopia: Exchange Rate Reform - Damned If You Do, Damned If You Don't
The political and business corridors of Addis Abeba are overwhelmed by talks of an upcoming devaluation of the local currency - Ethiopian Birr. This is despite a recent statement… Read more »
June 29, 2023
Ethiopia: Auditor General Uncovers 15 Billion Birr in Unclaimed Revenues
Meseret Demisse, the head of the Office of the Federal Auditor General (OFAG), delivered a disquieting revelation during her appearance before members of Parliament (MPs) on 27… Read more »
June 27, 2023
East Africa: Former MTN Uganda CEO Joins Safaricom Ethiopia As New CEO
Safaricom Telecommunications Ethiopia PLC (STEP) gets a new Chief Executive Officer to replace its outgoing CEO, Anwar Soussa, who will depart the company effective 31st July 2023. Read more »
June 26, 2023
Ethiopia: Land Prices Soar, Leaving Homebuyers, Investors Astounded
The recent land lease auction in Addis Abeba has caused quite a stir as property prices skyrocketed to unimaginable heights. A square meter of land in the city was sold at a… Read more »
June 21, 2023
Ethiopia: #breaking - Safaricom Ethiopia Chief Executive Officer Leaves Business
Anwar Sousa. Photo/Anwar Sousa/Twitter Read more »
Ethiopia: Govt Moves a Step Closer to Securing Crucial Foreign Currency From IMF, World Bank
With the conclusion of consultation on the second Home Grown Economic Reforms Agenda with the executive committee of the Development Assistance Group (DAG), Ethiopia moves a step… Read more »
June 16, 2023
Ethiopia: Ethiopia Indicates Insurance Industry's Probable Opening for Foreign Firms
Following years of speculation, the National Bank of Ethiopia (NBE) announced their intention of allowing foreign insurers to operate in the country after the creation of an… Read more »
June 09, 2023
Ethiopia: World Bank Group Pledges Support for Safaricom Ethiopia's Internet Expansion
The World Bank Group's International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) have revealed plans to fund the ongoing expansion of Safaricom… Read more »
Ethiopia: Safaricom Ethiopia Gets Additional Investment, Loan to Support Affordable Internet, Reliable Mobile Connectivity
World Bank Group signing an agreement with Safaricom Ethiopia (Photo: Anuwar Soussa, CEO, Safaricom Ethiopia) Read more »
June 07, 2023
Ethiopia: Senior Citizens of Tigray Stage Demonstrations in Mekelle Over Unpaid Pension
Hundreds of retired civil servants in the Tigray region have staged demonstrations in the capital Mekelle, protesting against interrupted pensions following the war that has… Read more »