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The Ethiopian government has decided to pay back pensions that went unpaid for over two years during the devastating Tigray conflict, according to State Minister of Finance Eyob Tekalign (PhD). The war between federal forces and the Tigray People’s Liberation Front (TPLF) raged from November 2020 until it formally ended in November 2022 with a […]

The Commercial Bank of Ethiopia (CBE) has confirmed that no customer funds were lost due to a brief system outage that occurred in the early hours of March 16th. From 1am on March 16th, CBE experienced interruptions to its branch and digital banking services for over 12 hours. In today’s press conference, CBE President Abe

The National Bank of Ethiopia (NBE) says a systems upgrade was behind yesterday’s outage at the Commercial Bank of Ethiopia (CBE).   In a statement, the NBE revealed the disruption impacting all CBE branches occurred as part of routine maintenance and technology improvements. As the nation’s largest financial institution with over 30 million customers, the

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