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In a major breakthrough for Ethiopia, the country’s fertilizer import bill has significantly declined as global prices experience a remarkable drop after two long years. The average price of fertilizer now ranges between $400 and $430 per quintal, providing substantial relief for the government and a welcome reduction in subsidies. According to Girma Amente, the […]

Kacha Digital Financial Services officially began full operations after an inauguration event held at the Skylight Hotel on the evening of November 19, 2023. The event celebrated Kacha receiving license number PIL002/2022 from the National Bank of Ethiopia last month. This license allows the firm to provide digital payment and financial services commercially. For the

A rift has emerged between top education official and parliamentarians in Ethiopia over how to address plummeting exam pass rates that point to a deepening crisis in the country’s school system. Figures released almost two weeks ago by the Ministry of Education showed a dramatic decline in student performance on national entrance exams. An unprecedented

Djibouti has signaled its willingness to help address Ethiopia’s needs for access to a critical Red Sea port, pointing to the East African nation’s existing hospitality towards Ethiopia’s navy as evidence of its open and cooperative approach. According to a report by Bloomberg, Djiboutian officials stated the country is ready to assist Ethiopia in securing

The Federal High Court’s ruling has mandated the return of two disputed properties, claimed by Abenet Gebremeskel, to Bole Towers Plc, which is predominantly owned by tycoon Al Amoudi Sheikh Mohammed, in a significant development of the ongoing legal battle. The court ruled that the properties, previously claimed by Abnet as personal assets, rightfully belong

Sesame prices on the Ethiopian Commodity Exchange witness a significant decline, falling over 40% from their peak in September. Exchange data shows that in early September, sesame prices had reached an all-time high of 15,200 birr per quintal. However, prices have since plunged to 9,000 birr as of today. The steep drop in prices has

Ethiopia’s gold exports experienced a significant slump over the past fiscal year, dropping more than twofold according to official figures. However, government authorities remain optimistic that exports will rebound and posts stronger growth in the year ahead. Export revenues from gold, Ethiopia’s most important mining product, totaled just $250 million in the last financial year.

As the evaluation process for Ethiopia’s ambitious sugar estate privatization program nears completion, anticipation is mounting over which investors have demonstrated the capabilities to resuscitate the large but underperforming assets. Among the numerous multinational companies that thus far applied to take over management of the eight factories through long-term concessions are African conglomerate Dangote Cement

Ethiopia’s securities watchdog has proposed sweeping reforms that would require mandatory registration for all public offers of shares and bonds in the country. The Ethiopian Capital Market Authority (ECMA) unveiled draft rules today which, if finalized, would overhaul how securities sales are regulated and provide regulators with expanded oversight of capital raising activities. In an

Dashen Bank has signed an agreement to access $40 million in foreign exchange financing to support Ethiopia’s agricultural export sector. The signing ceremony saw British International Investment and FMO, the Dutch development bank, each commit up to $20 million to Dashen Bank. The funds will be borrowed in foreign currency from BII and FMO and