staff writer - Birr Metrics

First Ethiopia, now Ghana requests G20 debt relief

Ghana is preparing to request debt relief through the G20 Common Framework program and has sought assurances that the negotiations can be accelerated before proceeding. The crisis-stricken country, which secured a $3 billion staff-level agreement with the International Monetary Fund (IMF) in mid-December, has been hesitant due to the lengthy delays experienced by other countries, […]

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Safaricom connects 21 Ethiopian cities, aims for 25

Just three months after its start on October 6, Safaricom Ethiopia has expanded to five additional cities, increasing its national presence to 21. To begin, it aims to reach 25 cities by April. The company, which is largely owned by Safaricom Kenya, has now turned on service in Hawassa, a city to the south of

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Ethiopia to Build $9bln Worth National Palace

The national palace project, which Prime Minister Abiy is directing, might cost up to $9 billion, according to official sources. His most recent appearance before the parliament indicated that the palace construction could cost up to 400 billion birr. To put it into perspective, that is around nine billion dollars. The national palace, dubbed the

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Afrexim Pledges USD 800 million Financing for Kenya to Build 100 Dams

Afreximbank will provide US$ 800 million in financing for the construction of 100 dams in Kenya, doubling the irrigated area. Kenya intends to double its irrigation field area from 670,000 acres to 1.4 million acres over the next three years. This is intended to increase food production while reducing the country’s dependency on rain-fed agriculture.

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Global Inflation Remain Rampant, despite expectations for a slowdown

Global inflation remained rampant last year, but the rate of headline price growth is anticipated to drop in the coming months, reports suggest. Inflation rates have doubled in 37 of 44 advanced economies over the past two years, according to Pew Research Center analysis. Global inflation is forecast to rise from 4.7 percent in 2021

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Passengers Stranded, flights canceled, Pilots on Strike, Kenya Airways in deep trouble

Thousands of passengers are left stranded and more than twenty flights have been canceled as a result of the pilot strike at Kenya Airways. Before the strike, the company declared it illegal, stating that it could lose at least 300 million shillings (2.5 million dollars) per day and jeopardize its capacity to recover from the

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IMF Says Worst Yet to Come Amidst Global Economic Slowdown

The IMF has revised its outlook for the world economy for 2023 and believes that the worst is yet to come for the economy, which is slowing due to high prices, the repercussions of Russia’s war in Ukraine, and the pandemic’s lasting effects. The Fund projects that global growth would drop to 2.7 percent in

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Remittance Inflow to Ethiopia Hits $5.6 billion Last Year

Remittance inflow to Ethiopia totaled 5.6 billion dollars during the last fiscal year, said President Sahlework Zewde said while delivering maiden address during the opening of the parliament. The figure is 700 million dollars higher than what was generated from the same source a year before. It is also much higher than the four billion

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Ethio telecom Targets to Make $1.3 B in Profit, Despite Stiff Competition

Despite facing stiff competition from its competitor, Safaricom, the new entrant, the state-giant ethio telecom still hopes to see an increase in its profit this year. It targets to earn 75.05 billion birr (1.3 billion dollars) this year, a 22.4 percent increase from last year. A part of its new strategy, dubbed LEAD, the moves

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Ethiopian Appointed to Lead African Aviation Lobby Group

Dawit Lemma is the Founder and CEO of Krimson Aviation, an aviation services company based in Ethiopia and Malta, becomes the deputy president of the African Business Aviation Association (AfBAA). Dawit has a degree in Aeronautical Engineering and Flight Technical from Purdue University, USA, and an MSc in Aviation Management and Marketing from Basel Business

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