staff writer

Inflation fell sharply to 23.3 percent in April 2024, down from a peak of 37.3 percent in May 2022. According to figures released by the Ethiopian Statistics Service, the overall year-on-year inflation rate declined by 10 percentage points from 33.5 percent in April 2023.  Food inflation dipped slightly to 27 percent but non-food inflation plunged […]

Safaricom has set its sights on achieving breakeven for its loss-making Ethiopian operations by the end of the financial year 2026. The telco anticipates hitting profitability as it targets an active customer base of 15-20 million and a network footprint of over 4,000 sites across Ethiopia. Currently, after a year of operations, Safaricom Ethiopia has

Ethiopia’s National Fuel Reform Committee has reaffirmed the ban on constructing new petrol stations, going against Prime Minister Abiy Ahmed’s recent directive on the issue. At its latest meeting, the committee headed by Trade Minister Gebremeskel Chala endorsed continuing the restriction and tightening monitoring measures. However, PM Abiy recently had told city administrators in Addis

The Ethiopian government has relaxed rules that previously limited the sale of products manufactured in industrial parks within the domestic market. The new policy announced by the Ethiopian Investment Commission in April allows companies operating in industrial zones to sell up to half of their annual production locally. Previously, exports were the only permitted destination

Creditors of the troubled capital goods financing company Ethio Lease have been given a 30-day deadline to file outstanding claims, as the firm formally enters the liquidation process with its capital valued at 400 million birr. According to a notice issued on Sunday by the liquidator Fekadu Petros & Partners Legal Service LLP, all creditors must submit

By Yared Seyoum As Ethiopia’s Christian community makes final preparations to celebrate Easter this weekend, many families have been increasingly worried about how rising inflation may impact their ability to enjoy longstanding culinary traditions. Inflation across the country has accelerated sharply over the past year due to a confluence of factors including global supply chain

The emerging real estate sector in South Sudan contrasts starkly with much of the country’s underdeveloped landscape. But in the capital city of Juba, a construction boom is underway that some believe could transform this central African nation. “Now, if you are looking for property in Juba, it is very expensive. That means if you