news

Ethiopia’s gold exports have remained lukewarm as the country remains highly dependent on artisanal and informal miners, according to Habtamu Tegegn, Minister of Mines. Speaking to parliament today during his presentation of the ministry’s nine month report, Habtamu  said that while Ethiopia has an estimated potential of mining 500 tons of gold annually, this is […]

Local developer Purpose Black has moved its 100 million birr in capital to a high-interest deposit after being forced to abandon plans for a landmark tower project in Mexico Square. The company had hoped to construct a 115-story skyscraper offering over 1,000 luxury condominiums. It secured 1.5 billion birr in deposits through pre-purchase agreements on

The state-owned Ethiopian Electric Utility will be vacating its longtime headquarters building in Addis Ababa and relocating elsewhere, according to an announcement by Adanech Abiebie, the Mayor of Ethiopia’s capital city. During a site inspection of ongoing urban regeneration projects, Mayor Adanech revealed plans to redevelop the iconic “Electric Hinsta” building located in downtown Piassa

Shega, an Ethiopian data and analytics firm, launched the Shega Insights digital finance portal today in collaboration with the Bill & Melinda Gates Foundation. The portal provides the first consolidated source of data and insights on Ethiopia’s digital financial services sector. It aims to boost financial inclusion by informing inclusive product design and strategies. Shega

The Ministry of Tourism has claimed generating 3.2 billion dollars in revenue over the past nine months from 861,126 foreign tourists and domestic visitors. This is a little lower than the country’s average annual export proceeds. However, such figures are being disputed given that one of Ethiopia’s major tourism regions, Amhara, has been embroiled in