staff writer

The Ethiopian Ministry of Trade and Regional Integration has stated that the government’s decision to lift fuel subsidies has helped reduce fuel smuggling. Fully passing fuel prices to consumers, the prices are now uniform across Ethiopia and neighboring countries, according to the Ministry. Currently, fuel prices in Ethiopia stand at around $1.3 per liter, close […]

The Commercial Bank of Ethiopia (CBE) is experiencing a major systems failure impacting operations across the country. All of the state-owned lender’s over 1,950 branches have been paralyzed since early Saturday morning. In a social media statement, CBE acknowledged “service disruptions” but provided few details on the technical issues or restoration timeline. Sources familiar with

In a major step towards deregulating Ethiopia’s logistics sector, the Ministry of Transport has issued licenses to three private companies allowing them to operate as multimodal transport operators (MTOs). Speaking at a ceremony today, Transport Minister Dr. Alemu Sime said Panafric Ride Limited Liability Company, Tikur Abay Transport, and Cosmos Multi Modal Share Company have

The Ethiopian government has announced plans to build a new 90 million dollars coffee research center in the country’s south. Located in Yirgacheffe, a renowned coffee growing region, the facility aims to support research and innovation for Ethiopia’s coffee industry. Dilla University, based near Yirgacheffe, will lead the project in partnership with Ethiopia’s Coffee and

Molla Zegeye, one of Ethiopia’s most renowned lawyers, has passed away at the age of 71. Molla died on March 07, 2024 in Addis Ababa. He had been battling the illness for an extended period and despite treatment, his health deteriorated. He had a long and distinguished legal career spanning over four decades. The Ethiopian

The Ashegoda wind farm in northern Ethiopia, once hailed as the biggest in sub-Saharan Africa, has resumed operations after a three-year hiatus due to the war in Tigray state. Costing 200 million dollars, the Ashegoda wind farm consists of 84 turbines with a total installed capacity of 120 megawatts. However, it did not generate any

Nestled amidst the bustle of Mexico Square in Addis Ababa is an unlikely epicenter of real estate frenzy gripping the Ethiopian capital. It is located on the fifth floor of what its owner calls the Sengatera Negadewoch Hibret Building. Through its door, there was a constant flow of eager visitors with paperwork in hand, clutching

Flower exporters are bracing for stricter phytosanitary rules as the EU increases health checks on Ethiopia’s rose shipments starting next May. According to the Ethiopian Horticulture Producer Exporters Association (EHPEA), authorities will ramp up inspections from five percent to 25 percent. This comes after the European Food Safety Authority flagged the false codling moth pest

Ethiopia has brokered a preliminary agreement to export its surplus electricity to Tanzania via Kenya’s grid, establishing the potential foundation for energy dominance across East Africa. Ethiopian Prime Minister Abiy Ahmed  (PhD) met with Tanzanian President Samia Suluhu Hassan on March 1st to finalize an energy export agreement. Under the terms of the deal, Ethiopia

Awash Bank has cemented its position as the Ethiopian Securities Exchange’s (ESX) biggest private sector shareholder following a new 70 million birr investment. The bank signed an agreement acquiring a 7.7 percent stake in the ESX, surpassing the previous top three private investors – Zemen Bank, Siinqee Bank, and Global Bank. When the ESX first