News

The United Nations Economic Commission for Africa (UNECA) kicked off a pivotal workshop focused on local currency financing and capital market development for central banks across the African continent. In the opening remarks, a senior UNECA official welcomed the distinguished guests and esteemed colleagues, emphasizing the critical role that strengthening financial architecture plays in driving …

Strengthening local currency financing and capital market development in Africa Read More »

In a significant development for the African insurance industry, Yared Mola, the CEO of Nyala Insurance S.C., has been appointed as the Vice President of the African Insurance Organization (AIO). The AIO, a non-governmental institution headquartered in Yaounde, Cameroon, was founded in 1972 with the primary objective of promoting the competitive and sustainable development of …

Nyala Insurance CEO appointed AIO Vice President Read More »

South Korea‘s ambassador to Ethiopia Jung Kang has reaffirmed his country’s commitment to further strengthen its development cooperation with Ethiopia. In an exclusive interview with ENA, the Ambassador said Ethiopia and South Korea have strong bilateral cooperation in various spheres. According to him, the historical cooperation of the two countries in politics, economy, and development …

S.Korean Ambassador Pledges to Expedite Implementation of MoUs Signed with Ethiopia Read More »

Ethiopia continues to supply electricity to Sudan despite a significant decrease in daily consumption, according to the Ethiopian Electricity Authority. Before the ongoing conflict in Sudan, the nation imported up to 200 megawatts of electricity per day from Ethiopia. However, this figure has recently dropped to 50 megawatts or less, the authority reported. Sudan has …

Ethiopia Maintains Power Supply to Sudan Despite Reduced Consumption Read More »

The Institute of Ethiopian Standards (IES) has implemented a new system that allows manufacturers to purchase essential standards electronically. This shift from a physical to an online platform streamlines access to standards, potentially expediting the production process for Ethiopian manufacturers. Previously, manufacturers were required to visit the IES in person to acquire these standards, a …

Institute of Ethiopian Standards Streamlines Access with New Online System for Manufacturers Read More »

The Ethiopian government has finalized a study on electricity tariff reform, submitted to the Petroleum and Energy Authority. This initiative aims to recover electricity provision costs due to the declining global purchasing power of the dollar. Ethiopia’s electricity sector, heavily reliant on foreign exchange for expansion, faces challenges due to the national debt and minimal …

Ethiopia Considers Electricity Tariff Reform to Address Financial Strain Read More »

Ethiopia Commodity Exchange (ECX) announced a trading volume reaching Birr 23.6 billion for the current fiscal year.  This figure signifies a year-over-year increase, driven by strong performances in coffee and oilseeds. Coffee trade saw an 18% rise, while oilseeds experienced a remarkable 45% increase. Overall, the market witnessed a 30% growth compared to the previous …

Ethiopia Commodity Exchange Reports Strong Performance and Expansion Plans Read More »

The Ethiopian Coffee and Tea Authority (ECTA) announced that May saw a significant surge in coffee exports, with over 43,481 tons shipped and a revenue of USD 209.54 million. This surpasses targets and represents the highest monthly volume and revenue in the past three years. In the first 11 months of the fiscal year, the …

Ethiopia Exports 43,481 Tons of Coffee in May Read More »

Mr. Adem Farah, Vice President of the Prosperity Party and Head of the Democracy Building Center Coordinator Office with the rank of Deputy Prime Minister, stated that Ethiopia will continue to strengthen its long-standing relations and cooperation with China in all domains. The Ethiopian delegation headed by Mr. Adem Farah is currently participating in the …

PP Vice President Discusses With Head Of China’s CPC Int’l Department Read More »

Nekemte Gudina Tumsa Airport has begun flight services. High-level government officials including the Transport and Logistics Minister, Alemu Sime (PhD), and CEO of the Ethiopian Airlines Mesfin Tassew have attended the inaugural ceremony. Deputy Chief Administrator of the Oromia Regional State, Awolu Abdi in tandem with other federal and regional officials was also in attendance …

Nekemte Airport Begins Flight Service In Attendance Of High Officials Read More »