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Nov 26 , 2022

Awash Bank Claims Heights Aspiring $1B Capital

Awash Bank shareholders voted to boost paid-up capital to 55 billion Br in the next four years, claiming a one billion dollars threshold in the current exchange rate. Achieving such height will make the first private bank the most capitalised among the league of private commercial banks. Thre...

Nov 18 , 2022

NEWS ALERT: Ethiopia Lifts LC Ban on Imports, Partially

The federal government has partially lifted the ban on imported goods a month after it was imposed on items under several categories. The Ministry of Finance announced that furniture, duty-free shops, restaurants and hotels that import items using foreign currency generated through their sales would not need to comply with the restrictions. Officials of the Ministry issued letters to the National Bank of Ethiopia (NBE) and Customs Commission advising on the changes. A month ago, the Ministry banned imported goods under 38 categories, including cosmetics, packed foods and furniture, from acce...


Nov 16 , 2022

Fed Pushes Telecom Privatisation Forward, Again.

The federal government rekindled its push to privatise the state-owned Ethio telecom. A call for an expression of interest (EOI) for the partial privatisation of Ethio telecom is out today after Finance Minister Ahmed Shide reinstated the EOI, where interested bidders are expected to submit documents before the deadline on December 19, 2022. Last year, the first EOI for the 40pc stake of Ethio telecom was announced, inviting interested bidders to present three-year audit reports before the deadline in July 2021. However, the process was halted due to domestic and international economic slowd...


Nov 2 , 2022

Fed, TPLF Agree to Halt Hostilities, Resume Essential Servies and Humanitarian Provisions

In a significant development, negotiators of Ethiopia's federal government and the TPLF concluded talks on Thursday to bring a two-year civil war to an end, agreeing on a permanent cessation of hostilities. Chief negotiators of both sides - Redwan Hussein and Getachew Reda - read a joint statement in Pretoria, South Africa, where the talks were held for 10 days. The deal includes an agreement that there is only one national army under the federal government, leading to the disarmament of the "TPLF combatants". The parties in the Pretoria-Round have agreed to resume essential services...

News Alert

Oct 18 , 2022

Ethio Telecom Launches Cloud-based Contact Centre

Ethio telecom has launched its cloud-based data contact centre at the newly inaugurated Addis Ababa Science Museum. A chatbot named ‘Ardi' has become operational on the Ethiotelecom website assistin...

Oct 14 , 2022

Ethiopia Bans Whisky, Chewing Gum, Packed Food, and Many More Imports

The Ethiopian government has issued a ban today on importing goods under 38 categories, including whiskies, chewing gum and packed food and drinks. A letter signed by the State Minister for Finance,...

Oct 8 , 2022

Ceiling Prices for Cereals, Oilseeds Lifted

The Ethiopian Commodities Exchange (ECX) will no longer enforce ceiling prices for cereals and oilseeds; leading traders exchange these commodities on a market basis. Authorities at the Ministry of T...

Oct 6 , 2022

Ethiopia Grants Safaricom Mobile Money Permit

Ethiopian authorities have granted today a permit for mobile money services to Safaricom Ethiopia Plc, an international consortium led by Kenya's Safaricom Plc. Kenya's President, William Ruto, made...

Oct 5 , 2022

Safaricom Launches Nation-Wide Service

Safaricom Telecommunications Ethiopia Plc debuts its nation-wide telecom operation service tomorrow, October 6, 2022. Key executives from the Global Partnership for Ethiopia Consortium including Nick...

Sep 29 , 2022

Drivers Meet Fuel Price Hike, Again

Vehicle owners and drivers were met with higher prices at pumping stations this morning as the federal government moves ahead with plans to end fuel subsidies. As with the last price adjustment i...

Sep 23 , 2022

Insurance Industry Sees Capital Threshold Hike

Regulators have inflated minimum paid-up capital requirements for insurers by more than sixfold. Insurance firms are compelled to hold 400 million Br in equity to qualify for a general insurance lice...

Sep 22 , 2022

City Bans Property Transactions through Designats

The Addis Abeba City Administration has banned property transactions through designated persons, a.k.a power of attorney rights. The ban became effective beginning on Wednesday, September 21, 2022. C...


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To Liberalize Finance Holy, Regulating It Is Divine


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To Liberalize Finance Holy, Regulating It Is Divine

In the wake of the liberalization of the telecom sector, Ethiopian authorities have made a...

Editorial | Nov 26 , 2022

UNCLOTTING CITY ONE STROKE AT A TIME

A tarmac road on the hill from the CMC roundabout to the Wossen roundabout displays a gia...

Featured | Nov 12 , 2022 . By TIZITA SHEWAFERAW and Molla Mitiku,

Truculent Foreign Banks, Fragile Industry, Bullish Central Bank

Zemedeneh Negatu, an investment consultant, had his team approached by boards of directors...

Agenda | Nov 27 , 2022 . By AKSAH ITALO

Truculent Foreign Banks, Fragile Industry, Bullish Central Bank

The entry by foreign-owned banks and non-nationals into the financial sector has reached a...

Fortune News | Nov 26 , 2022