news - Birr Metrics

Ethio Telecom Kicks Off Project to Upgrade 100,000 Customers to Fiber Broadband

State-owned Ethio Telecom announced plans to migrate 100,000 customers from copper to fiber broadband connections in the current fiscal year as part of an ongoing modernization drive. In a statement, the telecoms provider said over 60,000 customers in the capital Addis Ababa will have their connections upgraded in addition to 40,000 in regional areas. The […]

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Safaricom Launches Kenya’s Fastest Home Internet at 1000Mbps

Safaricom has boosted the speeds of its home broadband plans in Kenya, including the launch of the country’s fastest residential internet – a new top-tier 1000 megabits per second package. The East African nation’s largest telecom firm said the “Platinum” plan offers download speeds of 1,000Mbps for 20,000 Kenyan shillings (155 dollars) per month. Safaricom

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Ethiopia Electric Power Reports Record $6.6B in Assets

State-run Ethiopian Electric Power (EEP) said on Monday its total assets have reached a record high of 709 billion birr (6.6 billion dollars), reflecting the company’s expanding role in developing Ethiopia’s energy sector. Demere Assefa, executive of EEP’s financial division, says the paid-up capital accounts for 586 billion birr of the overall assets, equivalent to

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The Slow Fade of the Lada

Addis Ababa’s Iconic Taxis Face Retirement The faded blue and white car ambled down Churchill Avenue, its engine emitting a basso rumble. Abebe Sheleme glanced in the rearview mirror, checking on his passengers squeezed into the backseat amongst their sacks of vegetables. After 25 years behind the wheel of this Lada, every bump and grind

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Tax Tsunami Threatens Beverage Industry’s Bottom Lines

Ethiopia’s beverage industry faces rising costs from increased taxation and unpredictable policies. Industry representatives outlined difficulties during a panel, including disrupted expansion plans from sudden tax hikes. Frequent policy changes make planning difficult for new and large companies. Tax compliance is already high but additional costs burden producers. Foreign exchange shortages also inhibit imports. While

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Burgeoning Tax Burden Strains Residents, Businesses

Property owners in Addis Ababa traditionally relied on modest rental incomes from small units as their sole livelihood. Annual property taxes previously represented a manageable portion. However, abrupt changes this year resulted in tax bills three times higher with no warning. Owners had budgeted based on prior tax levels assuming no changes, not realizing bills

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Squeezed Out

Rapid rent hikes threaten viability of small shops across Addis Ababa By Yared Seyoum Beyenech Getahun was working behind the counter of her small store located in the Sheger Grandmall shopping complex in Addis Gebeya. Business had been slow that morning as customers were few and far between. She stared blankly at the shelves stocked

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Where will the free Birr flow?

Ethiopia has undertaken a major reform by shifting to a flexible exchange rate system and liberalizing its foreign exchange regime for the first time. On the first day, commercial banks drove the value of the birr down by 30% against the dollar, and volatility continued in subsequent weeks as traders tested the new floated system.

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Birr Breaks Free

For decades, Ethiopia maintained a rigidly pegged exchange rate, tethering its currency, the birr, tightly to the dollar. While providing exchange-rate stability, this policy of artificially overvaluing the birr discouraged exports and encouraged imports. The birr’s overvaluation made Ethiopian exports more expensive abroad while making foreign goods cheaper at home. International financial institutions like the

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A Deeper Dive Into the Problems Confronting Builders in Ethiopia

Ethiopia’s construction sector faces many challenges that have hampered its growth potential. Issues like corruption and bureaucratic delays in project approvals increase costs for contractors. Security problems in conflict-affected areas also deter investment. Import reliance leaves the industry vulnerable to global price volatility. Meanwhile, long payment delays from the government and restrictive regulations that favor

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