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One of the leading microfinance institutions in Ethiopia, Addis Credit & Saving, collects a deposit of 7.3 billion birr in the last 10 months. It is more than twice the figure registered the same period last year. The bulge in saving helped the microfinance achieve 212.4 percent of its target set to be achieved in […]

Safaricom plans to mobilize two billion dollars from international financiers in the next five years for its operation in Ethiopia. Part of the proposed funding will also be raised internally and through rental financing from equipment vendors, according to a report by the East African Daily. It plans to source the finance from local banks

Ethiopia exports one billion dollars worth of coffee in the last ten months, a record-high performance in the history of the country. Coffee accounts for more than a third of Ethiopia’s exports. And the historic-high performance helps the government meets the target set to be achieved during the reporting period. The popularity of vertical integration,

Moha Soft Drinks, bottlers of products of Pepsi Cola, suspends operations due to shortage of inputs, Capital Newspaper reported. The shortage is caused by the company’s inability to get forex from commercial banks due to dearth in foreign currencies. Employees have been told to take a paid-leave, with all lines of production, including Mirinda, Kool

Officials find themselves between a hard and a rock place as the price of commodities exhibit a drastic upsurge as Ethiopians Easter approaches. The price of oxen range between 30,000 birr and 200,000 birr, while sheep is costing between 5000 birr and 22,000 birr. The ceiling price registered in the cattle market this holiday is

The Embassy of United States in Ethiopia says it has resumed processing all categories of immigrant and nonimmigrant visas, including Diversity Visas (DV), in accordance with the priorities set out by the Department of State. “We appreciate your patience as there are significant backlogs globally in most visa categories, due to the COVID-19 pandemic. Applicants

Mesfin Tassew is the new chief executive officer of the Ethiopian Airlines, the leading aviation company in Africa. Replacing Tewolde Gebremariam, who was leading Ethiopian for the last 11 years, Mesfin has been the managing director of Asky Airlines, where Ethiopian is a major shareholder, since May 2021. Mesfin will be tasked to lead over

Ethiopian Airlines long-serving CEO, Tewolde Gebremariam, has resigned from his post. It was a position he held for the last 11 years. It also means the end of his 37 year stay at the most profitable Airlines in Africa. Undeniably, the tenure of Tewolde has been one a kind. His active years at Ethiopian saw

Ethiopia will stop importing wheat beginning from next year, Prime Minister Abiy Ahmed said. It is a part of his initiative to fully substitute the cash crop locally. The country spends over half a billion dollars on imports of wheat annually, despite being the largest producer of wheat in Africa. Last year, an estimated five