The Governor of the National Bank of Ethiopia, Mamo Mihretu, has stated that the bank is working hard to finalize a regulatory framework that will allow foreign banks to operate in Ethiopia. This is part of an effort to deepen financial intermediation, regulate the financial sector, and accelerate digitization efforts.
Ethiopian Airlines weathered the Covid pandemic but still faces challenges in sourcing parts and remaining competitive during inflation. Ethiopian Airlines successfully weathered the Covid pandemic by shifting its strategy, but Africaβs only profitable carrier still faces βreal challengesβ in sourcing parts and staying competitive at a time of inflation, its CEO told AFP. The 2022-2023 financial β¦
BGI Ethiopia, one of Ethiopia's major breweries, has agreed to sell its headquarters building in Addis Ababa to fund the relocation of its plant to Meta Abo, Sebeta town, and drive its growth ambitions, the company said. The sale transaction, confirmed through an earnest agreement but terms undisclosed, marks βa pivotal step in BGI's strategyβ to double its business in the next five years. The CEO of BGI Ethiopia, Herve Milhade, said the decision was made to position the company for accelerated growth by overcoming current...
Sidama Bank has officially started providing services as of yesterday. At the launch program, the Deputy Governor of the National Bank, Ato Solomon Desta, emphasized that the bank's success would play an important role in the country's economic development and in providing access to modern banking on a large scale. Sidama Bank is one of the five banks that have transformed from small financial institutions to banks in the past five years.
Ethiopian Airlines and Customs Commission have signed an agreement to improve their services for the increasing number of passengers and goods. It is expected that the agreement will enhance customer service for Ethiopian Airlines and enable the Customs Commission to provide faster and more reliable services. The agreement is also important for controlling prohibited and restricted goods and ensuring transit goods are handled appropriately.
Safaricom Ethiopia's new CEO will be tasked with substantially expanding the companyβs userbase and overseeing the beginning of M-Pesa mobile money services in order to drive higher revenues.
A nonexistent airline. A tremendously audacious public scam. Bosom friends and cofounders turned bitter courtroom rivals. High-level corporate fraud. Step forward Green Africa and Nigeria Air.
The partial privatization of Ethio Telecom is part of the process of liberalizing the Ethiopian telecom market. The government had originally planned to sell 40% of the historic operator. Finally, it announces ...
After his fourth appeal for a reevaluation of his tax audit was met with indifference, the 38-year-old Abiy Aman angrily stormed out of the Kirkos District Small Taxpayers Branch Office around the Qera area. He had been operating a struggling fune...
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 14 August 2023.
Hibret Bank signed a partnership agreement with Safaricom M-PESA to collaborate on various initiatives that will enhance the provision of digital financial solutions in Ethiopia. As part of an initial step for the agreed upon broad project, Hibret Bank is appointed as a Super-Agent to synergize the Cash-in and Cash-out process of the numerous agents registered under Safaricom M-PESA.
On October 14, the prestigious Grand African Run race returns to DC with thousands participating and more than 20 Olympians joining to support Ethiopian charities.
Visa, a leading global provider of digital payment solutions, has joined forces with Enkopa Summit as the Platinum Sponsor for its annual event, scheduled to take place on October 12-13, 2023, at the Science Museum in Addis Ababa, Ethiopia.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 21 September 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 20 September 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 19 September 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 15 September 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 14 September 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 13 September 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 08 September 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 07 September 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 06 September 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 24 August 2023.
Ethiopia's coffee export revenues fell short this fiscal year, coming in at USD 1.33 billion instead of the hoped-for two billion dollars. High domestic coffee prices, unfavorable exchange rates and volatile global markets contributed to the shortfall, prompting authorities to lower export targets for the new budget cycle.
Tomoca Coffee has opened another outlet inside the La Gare Train Station and is converting an old train car into a cafΓ©. Open in 1917, the train station is one of the attractions of the city. It will now be part of the La Gare Eagle Hills Project. The removal of the historical Buffet De La Gare inside the train station following the start of the construction had led to an outcry...
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 31 July 2023.
The Tulu Kapi gold mine, which is Ethiopia's first modern industrial-scale gold producer, is scheduled to begin operations in September. The mine has a capital investment of over 500 million USD and has completed all necessary preparations to commence its activities.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 28 July 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 26 July 2023.
A transaction involving the transfer of a plot to a reputable family is at the epicentre of a federal probe that led to the arrest of Abinet Gebremeskel, a once close confidant of Mohammed Ali Al-Amou...
In a historic turning point for Ethiopia's brewing industry, BGI Ethiopia, bottler of the country's foremost beer brand, St. George, is bidding farewell to its long-standing headquarters on Ras Mekone...
... support the establishment of a "permanent office in Ethiopia and hire more heads of education and a product manager." "The goal is to expand A2SVβs presence to Ghana and upskill 330 more students in Ethiop ...
The country currently imports $15-25 million in dairy products a year, with 80% of that being milk powder and condensed milk.
Investment-banker turned agro-processor, Yonas Alemu, is the founder of Lovegrass Ethiopia, a health food company making a variety of products from teff and other Ethiopian grains.
Safaricom Ethiopia, a consortium-backed telecom giant, has embarked on an ambitious journey in a market historically hogged by the state-owned Ethio telecom. With a substantial investment of 1.6 billi...
Addis Abeba captures the story of a country in rapid changes. As vehicles whiz past newly constructed high-rises and markets teem with activities, the landscape reveals a defining chapter in Ethiopia...
We take a look at five companies capitalising on Ethiopiaβs agricultural and livestock potential.
Demand for passion fruit in European markets is estimated at about 375,300 tonnes per year, which translates to about $861 million.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 21 November 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 20 November 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 29 August 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 2 August 2023.
It is not often that farmers leave their fields to protest, particularly when the season happens to be ploughing. Recently, however, farmers in the Amhara Regional State, usually took to the streets of Bahir Dar city, making their grievances known. ...
I was delighted to visit the agriculture and science exhibition at the Science Museum in Addis Abeba a few weeks ago. I appreciated the government's initiative to showcase and promote some of the existing agricultural science and technology. As Ethiopia, one of Africa's agricultural powerhouses, contemplates bolstering its agricultural and economic potential, key stakeholders have pinpointed its dairy industry as a sector ripe for transformation. By combining scientific insights and cutting...
... In Ethiopia, a tech entrepreneur has decided to tackle the issue of yield loss by leveraging digital technologies. Lersha is a digital solution developed by an Ethiopian eponymous startup. It allows ...
... fosters innovation and entrepreneurship within the agricultural sector, aiming to address these challenges through sustainable and impactful solutions. blueMoon Incubator is Ethiopia's first agribusines ...
... startups, specifically in Kenya, Uganda, and Ethiopia. According to the statement released by Goodwell Investments, the fund will focus on companies in the sustainable agriculture, energy, mobility ...
The 20th African Fine Coffees Conference and Exhibition, along with the inaugural African Coffee Week, will be hosted by Ethiopia in Addis Ababa from February 5th to 9th, 2024. This significant event is jointly organized by three prominent African organizations: the African Fine Coffee Association (AFCA), the Inter African Coffee Organization (IACO), and the Ethiopian Coffee and Tea Authority.
The veteran Century Promotions Plc has bagged the contract to host the upcoming Christmas and Easter holidays with 84 million Br, aspiring to breathe life into the fatigued exhibition scenes clouded b...
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 22 August 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 10 August 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 9 August 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 8 August 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 13 October 2023.
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 12 October 2023.
In the wake of a devastating two-year war, SUR Construction Plc, one of Ethiopia's premier contracting firms, is turning its gaze inward. As its executives grapple with significant losses, including t...
My car's tyre went flat one Saturday evening, forcing me to install an escort as service providers do not operate in the evening. I had purchased the tyre from a roadside outlet on Bole R...
The investor Ato Worku Aytenew left the country under government pressure
Upon returning to her native Ethiopia after her engineering studies in India, Samrawit Tarekegn discovered the challenges faced by women who were passionate about their careers but still needed to take ...
The second African Union Small and Medium Enterprises (SMEs) Annual Forum is scheduled to take place in Addis Ababa, Ethiopia, from September 15-19, 2023.
Niraj Varia, a partner at VC firm Novastar Ventures, discusses industry trends.
The COVID-19 pandemic and the war in Ukraine have caused commodity prices to soar in recent years, severely undermining global food security. Global food prices are now down from their peaks a year ago, but no one should be complacent: the world's food woes are far from over. The risk of additional price volatility remains high. With Russian President Vladimir Putin's annulment of the Black Sea Grain Initiative and attacks on export infrastructure in Ukraine, grain prices have ticked upward a...
There is an opportunity in Ethiopia to produce high-quality, affordable pasta or instant noodles.
Talking business with Aster Mengesha, CEO of coffee roasting company Aster Bunna.
In an enlightening tour organised by Ethiopia's Tulu Kapi Gold Mines S.C., a coterie of figures in the mining industry and influencers embarked on a recent journey to Namibia, an African powerhouse steering a masterclass in mining excellence. An endeavour hinged on fostering a symbiotic relationship between the two countries, the tour witnessed discussions with Namibia's titan industry players, including the government-backed Epangelo Mining Company and the behemoth Swakop Uranium-Husab Mine. ...
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 4 August 2023.
Keeping up with the skyrocketing rent, medical costs, transport and commodity prices has become a struggle for a diabetic army veteran in his late 60s, Wondemagen Feleke. On average, he spends about 200 Br when he visits the state-owned Zewditu Me...
Customer demand for imported Chinese-made Volkswagen electric vehicles has collapsed since Ethiopia's recent government...
As Ethiopia teeters on the precipice of a fiscal tightrope, clouds of worry are gathering for the country's economic custodians. The lurking spectres of a severe foreign exchange crisis, burgeoning external debt obligations and stagflation - a potent cocktail...
A vital shift is on the horizon for Ethiopia's manufacturers, who once thrived on exports braced by the African Growth & Opportunity Act (AGOA). If a bold proposal by Melaku Alebel, minister of In...
A struggle is brewing between workers, trade union leaders, and the management of one of India's largest textile manufacturing firms in the Bole-Lemi Industrial Park. Jay Jay Textile Plc's staunch...
Ethiopian Airlineβs order for 31 aircraft with an option for 36 more is the largest ever purchase of Boeing planes by an African carrier, while a deal with...
In a bid to support languishing start-ups and entrepreneurs underserved by the traditional financial sector, the Ministry of Finance has indicated plans to launch several innovation funds. At the m...
As the Ethiopian telco market slowly liberalises, a GSMA study suggests that with a high adoption of mobile money by 2030, the country could add up to $5.3bn...
... s or co-founders are, in order, Rwanda, Tunisia, Senegal, Ethiopia, and Uganda. The four most developed ecosystems on the continent (Nigeria, South Africa, Kenya, and Egypt) are not gender diversified. ...
... contributions. Zekarias Amsalu (photo) is an Ethiopian investor, ACCA Chartered Accountant, and an active figure in the African fintech sector. He is also one of the co-founders and co-organizers of ...
The sector is plagued with infighting and lawsuits, including one company's attempt to trademark the word βride.β
The pharmaceutical industry is moving to export products overseas, with major domestic companies planning to venture into neighbouring markets within the next two years. Kilitch Estro Biotech Plc,...
Pharmaceutical manufacturers have recently gained significant relief from their foreign exchange woes. A letter dispatched three months ago by Eyob Tekalign (PhD), state minister for Finance, outlines...
Ethiopian Airlines weathered the Covid pandemic but still faces challenges in sourcing parts and remaining competitive during inflation. Ethiopian Airlines successfully weathered the Covid pandemic by shifting its strategy, but Africaβs only profitable carrier still faces βreal challengesβ in sourcing parts and staying competitive at a time of inflation, its CEO told AFP. The 2022-2023 financial β¦
I had breakfast at my favourite Syrian restaurant near Jakros last weekend -stewed beans with eggs and yoghurt garnished with green pepper and onion a.k.a. Ful. Although I have had the s...
CCI Kenya has over 1,400 employees and its clients include T-Mobile and Instacart.
Ethiopian edible oils company seeks to reduce dependence on imported sunflower oil.
Ethiopia will have a packaging manufacturing opportunity worth $971 million by 2030, with more than 50% of the potential lying in packaging for the food and beverage sectors.
Flow Equity is a multi-country poultry business targeting rural households. Chris Issac, chief investment officer at AgDevCo, unpacks the companyβs business model.