staff writer

The Ethiopian government has announced an ambitious set of policy reforms aimed at transforming regulations to better support the growth of startups in the country. At an event on April 4th dubbed “Startup Ethiopia,” federal authorities outlined wide-ranging changes across several ministries and agencies that will impact taxation, international payments, access to funding, intellectual property […]

The Ethiopian Securities Exchange (ESX) has announced it exceeded its initial capital raising target by more than double. The ESX sought to raise ETB 631 million (11.07 million dollars) but ended up obtaining ETB 1.51 billion (26.6 million dollars), representing 240 percent of the original target. A total of 48 domestic and foreign institutional investors

The International Monetary Fund (IMF) announced the conclusion of its two-week visit to Ethiopia without finalizing a support program for the country’s economic reforms. An IMF team led by Alvaro Piris held discussions in Addis Ababa but said more talks are needed to establish all the terms for how the IMF could back Ethiopia’s reform

The Ethiopian government has approved a new proclamation introducing tighter controls over housing rent increases across the country. The legislation passed today in parliament with a majority vote, with three abstentions. Only 244 MPs were present for the vote, meeting the minimum requirement but lower than normal attendance. Under the new law, landlords will have

Ethiopia’s ongoing fuel shortage continues to impact major cities, even as the head of the state petroleum enterprise pledges the crisis will soon end. A shortage of fuel has been felt in Addis Ababa and other towns since end of last week, caused by issues disrupting fuel imports from Djibouti, Ethiopia’s main entry point. Yasmaalem

The Cooperative Bank of Oromia (CBO) disclosed an investment of 60 million birr in the Ethiopian Securities Exchange (ESX). This brings the total publicly announced commitments from Ethiopian banks to the ESX to 420 million birr. CBO becomes the sixth bank to publicly announce an investment, following Amhara Bank, Hibret Bank, Zemen Bank, Siinqee Bank,

Global consultancy and audit firm Deloitte has received the first securities investment advisor license issued by the Ethiopian Capital Market Authority (ECMA). With over 457,000 employees operating across more than 150 countries, Deloitte provides audit, consulting, financial advisory, risk advisory, tax, and legal services. In fiscal year 2023, the firm generated global revenues of 64.9

Amhara Bank has surpassed Awash Bank to claim the top position by investing 90.6 million birr on the Ethiopian Securities Exchange (ESX). This major investment has allowed Amhara Bank to acquire a 10 percent share of the exchange, solidifying its position as a major player. Previously, Awash Bank held the title of largest private sector

Cryptocurrency mining company DeMi has announced a new partnership with data center provider BitCluster to grow its infrastructure deployment in Ethiopia. At the end of December 2023, BitCluster announced the launch of a 120 megawatt data center in Ethiopia with a total area of 30,000 square meters. This power capacity allows for over 30,000 mining