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Addis Inaugurates City-bus Expressway

Jun 27 , 2020

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The Addis Abeba City Administration has inaugurated a mega city-bus expressway project for 5.9 billion Br. Stretching from Jemo II to General Wingate Square, the city-bus expressway covers 19.2Km and is expected to be completed in two years. The inauguration took place with the presence of Prime Minister Abiy Ahmed (PhD) and Addis Abeba City Administration Deputy Mayor Takele Uma. The City Administration is expected to cover 55pc of the required budget for the project, while the remaining will be financed through a loan from the French government. The Prime Minister stated that the project will decrease youth unemployment significantly and noted that transportation and roads are as crucial as housing.

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NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...

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Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...

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Export Recovery Gains Ground, Industry Still Lags Potential

The Ministry of Industry (MoI) has reported a modest rebound in Ethiopia's manufacturing exports, with revenues climbing eight percent in the 2025 fiscal year to reach 318 million dollars. Minister Melaku Alebel attributed the growth to a gradual sectoral recovery but acknowledged the figures remain well below the country's industrial potential. Speaking at a forum held with 60 top-performing manufacturers, Melaku said the ministry is working to unlock bottlenecks and improve coordination. Th...

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