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Oct 26 , 2025

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalt...

Oct 26 , 2025

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Corporation (ERC) carries significant overdue debt from its previous administration under the Ministry...


Oct 26 , 2025

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. Data from the National Bank of Ethiopia(NBE) shows a recent drop in gold prices. 18-carat gold now...


Oct 26 , 2025

New Trade Agreement Strengthens Global Market Path

Ethiopia has signed a market access agreement with Argentina, advancing its long-standing bid to join the World Trade Organization (WTO). Trade and Regional Integration Minister, Kasahun Gofe(PhD), described the deal as a significant milestone in the country's efforts to integrate into the global trading system. Argentina becomes the second country to finalize such an agreement with Ethiopia, following a previous deal with Turkey. Officials note that bilateral market access arrangements are essential for WTO accession and will create long-term opportunities for exports and imports. Since...

Oct 26 , 2025

Utility Pushes Rural Electrification, Digital Payments Forward

The Ethiopian Electricity Utility (EEU) connected 107,191 new customers in the third quarter of 2025, representing an 18.3pc increase compared with the same period last year. Of these, 95.5pc are postpaid customers while 4.5pc use prepaid services. Efforts to extend electricity to rural communities reached 14 new towns and villages, including 13 on the main grid and one off-grid village powered by solar energy. Infrastructure improvements included 957 km of reconstructed distribution lines, 2,151 km of expansion works, 493 upgraded transformers, and 850 new transformers installed, all planned...

Oct 26 , 2025

New Shipping Route Links Gulf, Horn of Africa

DP World has launched a new shipping route linking Berbera Port in Somaliland with Jebel Ali Port in the UAE, promoting trade between the Gulf and East Africa. Berbera features a 1,050-metre quay, including a 400-metre section for Triple E vessels, modern container terminals, and facilities handling over four million livestock heads annually. The Berbera Special Economic Zone attracts investment and supports long-term industrial growth. Since last year, DP World's operations have increased vessel productivity by 450pc, container volumes by 30pc, and general cargo throughput by 90pc. The...


Oct 26 , 2025

Withholding Tax on Wheat Payments Lifted

The long-standing tax dispute between wheat processors and the Ministry of Revenue has been resolved. In a circular, the Ministry of Revenue confirmed that the Ministry of Finance had acted on repeated complaints from wheat processors regarding tax treatment of payments for wheat purchases. A letter signed by Eyob Tekalign (PhD), former State Minister of Finance and current Governor of the National Bank of Ethiopia(NBE), noted that the issue had created pressure for both manufacturers and wheat sellers, prompting numerous questions and concerns. Key decisions outlined include the removal...

Oct 26 , 2025

Ethiopia Joins African Renewables Push in Sierra Leone

The Ministry of Water & Energy is attending the second Accelerated Partnership for Renewables in Africa (APRA) Investment Forum in Freetown, Sierra Leone, aimed at boosting renewable energy investments and green industrialisation. The two-day event gathers ministers, investors, developers, and financiers for policy talks, technical sessions, and project exhibitions. APRA has mobilised a 2.7 billion dollars project pipeline, representing roughly 1 gigawatt of renewable capacity. The forum follows a recent IRENA report at Pre-COP in Brasília, showing Africa accounted for only 1.6% of new...


Radar

Oct 18 , 2025

Africa Maritime Conference Sets Sights on Seafaring Innovation

The Ministry of Transport & Logistics has launched the first-ever Africa Maritime Conference, marking a bold move to position landlocked Ethiopia as a continental hub for seafaring innovation at a...

Oct 18 , 2025

Ethio telecom Launches Znexus to Bridge Africa's Digital Divide

Ethio telecom has unveiled its own smart device brand, Znexus, marking a strategic step into the African smart device market. The launch, held last week at the Sheraton Addis Hotel, introduced a fu...

Oct 18 , 2025

NBE Drafts Rule to Tighten Bank Ownership Transfers

The National Bank of Ethiopia (NBE) has issued a draft directive to tighten oversight of the banking sector by restricting large ownership transfers and enhancing regulatory scrutiny. Titled the ...

Oct 18 , 2025

Power Utility's West Addis Office Surpasses Infrastructure Goals

The Ethiopian Electric Utility (EEU) branch in West Addis Abeba has reported over 1.2 billion Br in revenue during the first quarter of the fiscal year, achieving 91.1pc of its target. Officials cr...

Oct 18 , 2025

Trade, Investment in Focus at Pakistan, Africa Expo

The 5th Pakistan–Africa Trade Development Conference (PATDC) and “Made in Pakistan” Exhibition took place at Millennium Hall, bringing together over 100 delegates from African nations including...

Oct 18 , 2025

City Prepares First Electric Bus Rapid Transit Corridor

The Addis Abeba Transport Bureau, working with the City Roads Authority, will launch the construction of the capital's first electric Bus Rapid Transit (BRT) corridor this year—a landmark step towar...

Oct 12 , 2025

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of m...

Oct 12 , 2025

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same peri...

Oct 12 , 2025

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spre...

Oct 12 , 2025

Revenue, Customs Launch Eight New Tech Systems

The Ministry of Revenues and the Ethiopian Customs Commission have unveiled eight digital systems designed to modernize tax and customs operations. The launch took place during the 7th Honest Taxpayer...

Oct 12 , 2025

Millions in Unsafe Food, Health Items Seised Across Addis Abeba

The Addis Abeba Food & Drug Authority (AAFDA) removed unsafe and expired food and health products valued at over 23.3 million birr following extensive inspections during the New Year, Meskel, and...

Oct 12 , 2025

Zemen Bank to Distribute Five-Year Retained Earnings to Shareholders

Zemen Bank S.C. has approved the distribution of three percent from funds retained over the past five years, originally earmarked to hedge against default risk. The decision, announced during its ...

Oct 12 , 2025

Heifer International, Hello Tractor, Ministry of Agriculture Launch Tractor Scheme

Heifer International Ethiopia, in partnership with Hello Tractor and the Ministry of Agriculture, has rolled out a Pay-As-You-Go (PAYG) tractor financing program designed to boost rural mechanisation...

Oct 5 , 2025

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was...

Oct 5 , 2025

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment trac...

Oct 5 , 2025

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the instituti...


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Communal Courtesy Breaks Down Communal Living

My Opinion | Oct 25,2025

Africa Wants In on the Climate Deal, Refuses to Play the Victim

Sunday with Eden | Oct 25,2025

When Regulation Fails, Consumers Carry the Burden

Agenda | Oct 26,2025

Pay Penalty, Convert Lease Hold, or Cease Business

Editorial | Oct 25,2025

The Rules Multiply. So Does the Confusion, and Uncertainty


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The Rules Multiply. So Does the Confusion, and Uncertainty

The regulatory machinery is on overdrive. In only two years, no fewer than 35 new proclama...

Editorial | Oct 25 , 2025

TRADITION THRIVES AS COSTS CLIMB

As dawn broke over Addis Abeba last week, the city's arteries pulsed not with the usual we...

Featured | Oct 5 , 2025 . By REDIET YARED

Pay Penalty, Convert Lease Hold, or Cease Business

The clang of metal shutters has gone silent on Addis Abeba's commercial corridors across B...

Agenda | Oct 26 , 2025 . By NAHOM AYELE

Addis Abeba Education Bureau Rolls Out Cluster Classes

Officials of the Addis Abeba's Education Bureau have embarked on an ambitious experiment t...

Fortune News | Oct 25 , 2025 . By YITBAREK GETACHEW