In a bold move designed to boost economic growth, Ethiopia took a major shift in its trade policy. The Ethiopian Investment Commission (EIC) and the Ministry of Trade and Regional Integration jointly revealed that export, import, wholesale, and retail trade sectors would now be open to foreign companies. Hanna Arayaselassie, Commissioner of the EIC explained …
Ethiopia Opens Doors to Foreign Investors in Trade Shakeup Read More »
Ethiopian Airlines, Africa’s largest carrier, has confirmed that it will increase the frequency of its flights to Kigali, Rwanda, to 18 times weekly. The new schedule to and fro the Rwandan capital will be effective starting from June 16, 2024. The airline confirmed that it currently operates 12 weekly passenger flights to and from Kigali.
During its 21st regular session of the third year of tenure today, the House of Peoples’ Representatives of Ethiopia (HoPR) sanctioned bills about the Special Economic Zones proclamation and the amendment of the Intergovernmental Authority on Development (IGAD) establishment agreement. The Special Economic Zones Proclamation bill was referred to the parliament by the Council of …
HoPR Approves Special Economic Zones Proclamation Read More »
Ethiopian Investment Commission and Trade and Regional Integration Ministry, in a joint statement, disclosed that the nation is set to open key commercial sectors that were restricted to only local investors to foreigners. The federal institutions announced that Ethiopia will open the import-export, retail, and wholesale sectors to foreign businesses. For many years, the import-export, …
Addis Ababa Revenue Bureau announced a strong performance, collecting Birr 108 billion in revenue during the last nine months of the 2023/24 fiscal year. This achievement surpasses 98.5% of the city’s target of Birr 109.6 billion. Revenue collection saw a significant growth compared to the same period last year. The office raked in additional Birr …
Addis Ababa Revenue Bureau Exceeds Target, Collects Birr 108 Billion Read More »
Ministry of Water and Energy announced that the electricity user rate has climbed to 52 percent. According to the Ministry, the National Electrification Programme has yielded demonstrably positive results since its inception. The government crafted a ten-year development plan that prioritizes bolstering electricity generation capacity. This plan envisions a significant increase, from the current 4,478 …
National Electrification Reaches 52 Percent, Ministry Read More »
On the sidelines of the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), an Ethiopia-US Business and Investment Forum was organized by the Ethiopian Embassy in Washington, D.C., in collaboration with Wafa Marketing & Promotion. The forum attracted approximately 150 investors from Ethiopia and the United States, providing …
Ethiopia-US Business & Investment Forum Held In Washington Read More »
2merkato, Ethiopia’s leading business portal, partnered with the City Government of Addis Ababa Land Development and Administration Bureau. This partnership brings exciting news for businesses seeking land within the city’s areas that are earmarked for redevelopment. On 2Merkato Tenders, users will be able to access upcoming land lease tenders and conveniently purchase tender documents directly …
2merkato Signs Deal to Offer Addis Ababa Land Lease Tender Documents Through Telebirr Read More »
Ethiopia’s Minister of Finance, Mr. Ahmed Shide, and the Governor of the National Bank of Ethiopia, Mr. Mamo Mihretu, met and held a brief conversation with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, in Geneva, Switzerland. Following her meeting with the Ethiopian high-level delegation, the IMF chief noted on X that …
Minister Of Finance, NBE Governor Meet With IMF Chief Read More »
Over the past eight months, domestic sales of products manufactured at the Arerti Industrial Park reached Birr 1 billion. The industrial park sits on 150 hectares of land and is located in Arerti, Oromia. It specializes in Textiles, Ceramics, and Woodwork. The park’s impact extends beyond its activities. Market linkages valued at over USD 12.5 million …
Arerti Industrial Park Secures Birr 1 Billion from Domestic Sells Read More »