IGAD Unveils Master Plan for Sustainable Tourism Development


IGAD Unveils Master Plan for Sustainable Tourism Development

The Intergovernmental Authority on Development (IGAD) launched a ten-year master plan to unify and strengthen tourism development efforts across its member countries. The plan was unveiled at a ceremony in Addis Ababa, attended by IGAD officials, tourism ministers, and other stakeholders. The master plan aims to leverage the region's abundant tourism resources, including stunning landscapes, diverse wildlife, rich cultures, and historical sites. Over the next decade, it will guide efforts to promote sustainable tourism development and contribute to regional integration. IGAD Secretary General Workneh Gebeyehu emphasized the plan's importance in fostering peace, stability, and economic benefits for the region. He called on all stakeholders to collaborate closely for its successful implementation.


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Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...


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NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...


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SantimPay Launches Zero-fee Digital Remittance Platform

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