Central Bank Governor Mamo Mihretu, in a video briefing last week, warned business owners caught trading in the parallel foreign exchange market, after the value of the Birr spiked to over 170 to a dollar. The Governor blamed illicit currency trade for a 28pc premium on the official rate.
The gigawatt-hours supplied to data mining operations by Ethiopian Electric Power (EEP) in the 2024/25, accounting for 27pc of national electricity production. It is equivalent to 43.1pc of the annual average output expected from the Grand Ethiopian Renaissance Dam (GERD), 15,760gWh, offering a sense of the energy appetite of server farms across the country.
The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight regions and focuses on climate-smart livelihoods, commercialisation, rangeland management, and disaster risk reduction. The initiative builds on the achievements of Phase I, notably in early warning systems and climate-resilient agriculture. The signing took place during the UN Food Systems Summit held in Addis Abeba on July 29, 2025.
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