staff writer

Addis Ababa Water and Sewerage Authority (AAWSA) has introduced new rules to regulate groundwater use, as the Ethiopian capital grapples with a severe water shortage. Addis Ababa, home to over five million people, relies on surface water from dams located outside city limits. However, the supply falls far short of meeting demand. Most residents now […]

The IMF’s new World Economic Outlook publication estimates that while Ethiopia’s economy will continue outperforming global averages, high inflation threatens its macroeconomic stability. For Ethiopia, the Fund forecast GDP growth of 6.2 percent in 2024 and 6.5 percent in 2025, lower than the government’s projection of 7.5 percent growth. However, Ethiopia’s growth is predicted by

In a bid to attract more business to its newly constructed Lamu port, the Kenya Ports Authority (KPA) plans to lower tariffs next month. This comes as Kenya aims to entice landlocked Ethiopia’s substantial cargo volumes away from the Port of Djibouti, which currently serves as Ethiopia’s primary trade gateway.  The move also comes as

The Bahamas will host a key summit seeking to deepen trade links between Africa and the Caribbean. On April 11, 2024, the Government of the Commonwealth of The Bahamas inked an agreement with the African Export-Import Bank (Afreximbank) in which it committed to welcoming key international gatherings next year. The third AfriCaribbean Trade and Investment

The National Bank of Ethiopia’s inaugural Financial Stability Report sheds light on an alarming degree of loan concentration among a powerful few. A mere 10 borrowers collectively account for nearly a quarter of all bank loans. The report found these top ten borrowers from the banking industry monopolized 23.5 percent of total credit as of

While Ethiopia’s banking sector continues expanding, its growth is lagging behind the rapid increases in GDP, according to the National Bank of Ethiopia. Total bank deposits reached 2.2 trillion birr (38.6 billion dollars) by the end of June 2023, an increase of 24.6 percent from the previous year, the central bank reported. Loans and bonds

The United Kingdom has temporarily removed tariffs on cut flowers that it imports from East African countries. Starting April 11, 2024, unlimited quantities of cut flowers can be exported to the UK at a duty rate of zero percent regardless of whether they transit through a third country. This suspension of the eight percent tariff

Ethiopia’s deposit guarantee scheme has deployed the 2.8 billion birr collected from participating banks and microfinance institutions into short-term government securities. The Ethiopian Deposit Insurance Fund (EDIF) funnelled the underwriting cash it accumulated from premium contributions, which is believed to have been invested in Treasury bills. As Treasury bills are currently the only available short-term

In a major policy shift, the Ethiopian government has introduced reforms that will bring sweeping changes to long-standing investment rules, allowing foreign participation in key economic sectors, including export, import, wholesale, and retail trade. The introduction of overseas competition by permitting direct foreign involvement in these sectors marks the end of the period where they

Zemen Bank announced it will auction a residential property from WA Edible Oil Refinery, one of Ethiopia’s largest refineries. WA Edible Oil Refinery is owned by prominent investor Worku Aytenew. The three-story building in Addis Ababa’s Yeka Subcity spans 1,403 square meters. It will be auctioned on May 10, 2024 with a floor price of