staff writer

Four top executives of Purpose Black S.C., an Ethiopian real estate and grocery store investment company, were detained by police in the capital Addis Ababa on Friday over allegations of involvement in a controversial financial scheme. The arrests come after an investigation by Ethiopia’s Ministry of Justice and the Addis Ababa Police Commission into Purpose […]

Ethiopia has unveiled a pioneering new ‘regulatory sandbox’ aimed at nurturing fintech startups and driving innovation across the nation’s financial sector. The sandbox, launched in the capital Addis Ababa, will create a controlled environment where firms can test products and services without fully adhering to regulations. It aims to turbocharge the development of Ethiopia’s fledgling

Ethiopia has voiced strong concerns over Egypt’s recent military deployment to Somalia, warning it risks inflaming tensions in the volatile Horn of Africa region. In a statement on Thursday, Ethiopia’s foreign ministry said it viewed the transition from the African Union peacekeeping mission in Somalia to a new force as “fraught with dangers” without proper

 Ethiopia has requested that China resume suspended debt disbursements and provide more relief and investment, its finance minister said last week, as the country seeks to boost its economy after four years without new funding from the Asian giant. Finance Minister Ahmed Shide met with China’s Vice Minister of Commerce Sheng Qiuping on August 21st

Ethiopia’s negotiations to restructure over one billion dollars in sovereign debt have stalled after international bondholders rejected the government’s proposal for a 20 percent reduction in the principal owed. In a statement, a group representing more than 40 percent of creditors said they were disappointed by signals from Addis Ababa that it may slash 200

Ethiopia has widened the scope of import payments allowed in foreign currency with a franco valuta permit as it tries to manage the fallout from the radical depreciation of the birr over the last two weeks. The finance ministry instructed customs authorities to allow more goods to clear ports using so-called Franco Valuta transactions, in