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May 28 , 2025

CBE’s Sharp Shift Sends Birr Down 5.6pc

The state-owned Commercial Bank of Ethiopia (CBE) raised its cash exchange rate to 131 Br a dollar for purchases and 133 Br for sales, the steepest single-day move by the country's largest lender in six months and one market observers say signals a broader depreciation ahead. The jump came after...

May 21 , 2025

Bill Granting Foreign Nationals Property Ownership Draws Criticism from Opposition MPs

A draft law proposing to allow foreign nationals to lease land and own residential property faced intense debate in Parliament yesterday, May 20, 2025. The legislative bill, tabled by the Council of Ministers two weeks ago, was sharply criticized by opposition MPs and has now been referred to the Standing Committee on Urban Infrastructure & Transport Affairs for further review. Opposition legislator Desalegn Chane (PhD) denounced the bill as "untimely" and warned it could worsen inequality by displacing poor urban residents. “This proclamation will make the city a place only for fo...


May 21 , 2025

Central Bank Eases Forex Rules for Importers, Travellers

The National Bank of Ethiopia (NBE) announced major changes impacting foreign exchange market, including substantially higher limits for importer advance payments and foreign currency cash for travelers. According to a statement the Central Bank issued yesterday, these changes target improving market functionality, providing greater flexibility. The limit on upfront forex payments to overseas suppliers has been increased tenfold, from 5,000 dollars to 50,000 dollars for every transaction, addressing what the Central Bank called a “long-standing constraint” on importers. Ethiopians...


May 9 , 2025

BGI-Ethiopia Appoints a New CEO

BGI-Ethiopia Plc, a bottler of St. George beer, the oldest brand in the country, has appointed a new CEO, effective May 1, 2025. Pierre-Emmanuel Medard succeeded Herve Milhade, who announced his retirement from the Castel Group, the parent company. With over 25 years of industry experience, Medard most recently served as CEO of Castel's operations in the DR Congo. He has also held senior leadership roles in Ivory Coast, and was CEO of Castel's subsidiaries in Gambia and Senegal. Medard expressed his enthusiasm about joining BGI-Ethiopia, stating. “I'm honoured to join at such an exc...

News Alert

May 8 , 2025

Ethio telecom Launches a Digital Marketplace

Ethio telecom introduced a digital marketplace dubbed Zemen Gebeya, integrated within the telebirr SuperApp. The platform connects micro, small, and medium enterprises (MSMEs) with users across Ethiop...

Apr 30 , 2025

Heineken Bets on Communities to Brew Growth

Heineken Ethiopia Plc, the largest brewery, is spending 33 million Br on a new community development program for residents in Addis Abeba and Sheger City, in what its executives say is an extension of...

Apr 2 , 2025

National Takes Over Unilever Ethiopia

Unilever Ethiopia has appointed an Ethiopian national to run its business, the third multinational company in recent months to do so, after Coca-Cola Beverages Africa and Pepsi International elevated...

Apr 1 , 2025

Birr Gains Ground at Forex Auction, For a Change

The Birr traded at 131.71 against the Dollar at a central bank auction held today, marking a slight 2.96pc uptick. The National Bank of Ethiopia (NBE) offered 50 million dollars in what is now its...

Mar 13 , 2025

Tigray Region’s Economy Lies in Ruins as Post-War Recovery Falters

Two years after the devastating civil war ended, Tigray Regional State is struggling to rebuild. Its economy is battered, and prospects are grim, warned Getachew Reda, chief administrator of Tigray's...

Feb 26 , 2025

Ethio Telecom Bids to Dominate Ethiopia's Digital Future

An array of services from digital livestock tracking, push-to-talk/video communications to cloud-based banking, an education management system (EMS), and enterprise resource Planning (ERP) are availab...

Feb 25 , 2025

Central Bank’s Auction Sends Dollar Soaring to 135 Br

A dollar value against the Birr exceeds 135 during an auction the Central Bank held today, offering 60 million dollars. Close to 27 banks have made their bid where the weighted average was 135.61 Br f...

Feb 24 , 2025

Central Bank Puts $60m on the Auction Block

The National Bank of Ethiopia (NBE) is set to hold a foreign exchange auction tomorrow, February 25, 2025, offering 60 million dollars to commercial banks. Monetary authorities say they want to ma...


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Courting Foreign Buyers of Properties While Land Remains State-Owned


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Courting Foreign Buyers of Properties While Land Remains State-Owned

It is seldom flattering to be bracketed with North Korea and Myanmar. Ironically, Ethiopia...

Editorial | May 31 , 2025

E-Commerce May Never Be the Same Again

Zemen Gebeya, the digital marketplace that Ethio telecom switched on only two weeks ago, i...

Featured | May 24 , 2025 . By YITBAREK GETACHEW

Elite Schools Raise Fees Sharply as Parents Cry Foul Over Legal Wrangling

Parents at Flipper International School received a jolt on May 26, 2025, when a letter con...

Agenda | May 31 , 2025 . By RUTH BERHANU

Real Estate Developers Build a Lobby as Rules Tighten

Real-estate developers have formed a new lobbying group, the Ethiopian Real Estate Develop...

Fortune News | May 31 , 2025 . By BEZAWIT HULUAGER