News

The Ethiopian Coffee and Tea Authority (ECTA) has unveiled a strategic plan to significantly enhance the country’s tea, spice, and coffee production. ECTA’s Director General, Dr. Adugna Debela, outlined key initiatives aimed at expanding these agricultural sectors, with a focus on both improving quality and increasing output to capture new markets. While Ethiopia is globally …

Ethiopia: Authority Sets Plans to Boost Tea, Spice, and Coffee Exports Read More »

The Ministry of Trade and Regional Integration announced adjustments to fuel prices, effective October 08, 2024.  The price hike applies to gasoline, kerosene, white diesel, light black diesel, heavy black diesel, and jet fuel prices. Here’s a breakdown of the new retail prices per liter: Fuel Type Price, per liter(Until October 8) Adjusted Price, per …

Ethiopia: Fuel Prices Increase Read More »

Ethiopian Investment Commission (EIC) and China’s Chongqing Kunhuang International Industry Group (CKIIG) have signed a Sub-Developer Agreement for sub-development of a parcel of land within the Gada Special Economic Zone. It was mentioned that CKIIG aims to develop and implement its project in 20 hectares of land with a total capital of 50 million USD …

EIC, China’s CKIIG ink Sub-Developer Agreement worth $50M Read More »

The Ministry of Urban and Infrastructure has unveiled a smart city initiative aimed at transforming 275 towns across Ethiopia into smart cities by 2024/2025. The plan seeks to modernize urban services, improve living standards, and drive the country’s urban development forward. State Minister Fenta Dejen revealed that the initiative will begin with 31 cities in …

Ethiopia: Ministry of Urban and Infrastructure Launches Ambitious Smart City Initiative Read More »

The National Bank of Ethiopia (NBE) has taken a significant step towards deepening the country’s foreign exchange market by granting licenses to five companies to operate as Independent Foreign Exchange Bureaus. In a statement released today, the NBE announced that Dugda Fidelity Investment PLC, Ethio Independent Foreign Exchange Bureau, Global Independent Foreign Exchange Bureau, Robust …

Ethiopia: NBE Licenses Five New Independent Foreign Exchange Bureaus Read More »

International ride-hailing service Yango, a subsidiary of Yango Group, has announced two strategic partnerships in Ethiopia, aimed at enhancing both transportation and healthcare services. The company has teamed up with Awash Bank, one of Ethiopia’s leading financial institutions, and Amakari Doctors, a key player in the telemedicine sector, to bring innovative solutions to commuters and …

Ethiopia: Yango Partners with Awash Bank and Amakari Doctors to Enhance Digital Payment Solutions and Health Services in Ethiopia Read More »

An International Monetary Fund (IMF) team and Ethiopian authorities have reached a staff-level agreement on the first review of Ethiopia’s four-year USD 3.4 billion Extended Credit Facility (ECF) program. Upon approval by the IMF Executive Board, Ethiopia will gain access to USD 345 million in financing. The IMF team, led by Alvaro Piris, visited Addis …

IMF and Ethiopia Reach Staff-Level Agreement on USD 3.4 Billion Credit Facility Review Read More »

The Ministry of Mines (MoM) announced that the construction of three gold mining factories was progressing rapidly, with the aim of generating USD 800 million from the sector this fiscal year. The three factories, located in Benishangul, Gambela, and Tigray, are expected to become operational within 18 months, adding 10 tons of gold annually to …

Ethiopia Eyes USD 800 Million in Revenue from Gold Mining Factories Read More »

Ethio Telecom officially launched its “Copper Switch-Off Initiative,” which aims to migrate 100,000 customers from the existing copper network to high-speed fiber optic infrastructure by the end of this fiscal year. This initiative will see 60,000 customers in Addis Ababa and 40,000 in regional areas transition to fiber, improving their internet experience with faster data …

Ethiopia: Ethio Telecom to Migrate 100,000 Customers to Fiber Read More »

Kenya’s electricity imports from neighboring Ethiopia have surged by 88% in the first half of 2024, according to a report released by the Kenya National Bureau of Statistics (KNBS). This increase marks a major shift in Kenya’s energy import strategy as the country seeks to meet rising electricity demand. The report revealed that Kenya imported …

Kenya Doubles Electricity Imports from Ethiopia Read More »