Brtat

Addis Ababa Uncovers 10.6 Billion Birr Tax Fraud, 334 Accountants Face License Revocation

A major crackdown reveals widespread manipulation of tax records, with 334 accountants and auditors implicated in discrepancies exceeding 75%. The city recovers billions in lost revenue as authorities move to revoke licenses and enforce stricter oversight.

Fri April 4, 2025 | 10 Minutes

Ethio-Djibouti Railway Resumes Services After Power Outage

The Ethio-Djibouti Railway suspended services due to damaged transmission towers near Awash Sebat Kilo but has now resumed operations after power was restored. The outage, caused by power theft, affected multiple cities in eastern Ethiopia before repairs were completed.

Mon March 24, 2025 | 10 Minutes

Ethiopia Launches Investment Banking Services for the First Time

The Ethiopian Capital Market Authority has introduced investment banking services, with the Commercial Bank of Ethiopia and Wegagen Bank being the first to receive licenses. The move aims to strengthen the capital market, support macroeconomic stability, and expand development financing options. The total number of capital market service providers has now reached nine.

Fri March 21, 2025 | 5 Minutes

Nighttime Commercial and Transport Services Regulation Takes Effect in Addis Ababa

Addis Ababa’s Trade Bureau has announced the enforcement of Regulation No. 185/2017, allowing commercial and transport services to operate at night. The move aims to align with the city’s evolving work culture, sustain economic growth, and enhance competitiveness. Public awareness campaigns will explain the regulation’s key provisions through media channels.

Thu March 20, 2025 | 10 Minutes

Ethiopia Struggles to Benefit from Cotton Trade Amid Factory Supply Shortages

Despite its high potential for cotton production, Ethiopia is unable to fully benefit from the cotton trade due to supply shortages affecting textile factories. The Ministry of Agriculture revealed that the country’s current cotton exports are minimal. Efforts are underway to address these challenges, including the development of a five-year cotton seed strategy and collaborative initiatives to strengthen the value chain and boost productivity.

Mon March 17, 2025 | 15 Minutes

Revised Third-Party Insurance Law Increases Compensation for Accidents

The revised Third-Party Insurance Law has raised compensation for emergency medical services to 15,000 Birr and for fatal accidents to 250,000 Birr. The changes aim to better align with current economic and social realities.

Wed March 12, 2025 | 10 Minutes

Addis Ababa Parks Generate Over 64 Million Birr in Seven Months

Addis Ababa's parks attracted 598,821 visitors in the past seven months, earning over 64 million Birr. Entoto Park led in popularity, with plans to enhance facilities and boost revenue through private sector collaboration.

Mon March 10, 2025 | 10 Minutes

GERD Fish Production Generates Over 1.4 Billion Birr in Revenue

Fish production at the Grand Ethiopian Renaissance Dam has earned over 1.4 billion Birr, with 3,700 tons produced in eight months. Efforts are ongoing to modernize fishing and support local associations to boost production further.

Mon March 10, 2025 | 5 Minutes

Addis Ababa Trade Bureau Cracks Down on Misleading Discount Ads

The Addis Ababa Trade Bureau has penalized 1,148 businesses for misleading discount advertisements, enforcing legal accountability, fines, and license revocations. Businesses are urged to avoid false advertising practices.

Mon March 10, 2025 | 5 Minutes

Agreement Signed to Produce Bic Cristal Pens Locally in Ethiopia

Alsam Plc has signed an agreement with Bic East Africa to produce Bic Cristal pens locally, aiming to boost technology transfer, foreign currency earnings, and job creation. The project is expected to launch within a year.

Mon March 10, 2025 | 5 Minutes

Ethiopian Airlines Operates All-Women Flight to Athens

Ethiopian Airlines celebrated International Women's Day with an all-women-led flight to Athens, Greece, featuring prominent Ethiopian women and receiving a warm welcome.

Sun March 9, 2025 | 2 Minutes

Launch Your Green Dream with GBI 2025 – Win Up to USD 10,000!

Apply now to the Green Business Incubator 2025 by Reach for Change Ethiopia and turn your sustainable idea into a thriving enterprise with up to USD 10,000 in equity-free funding, plus mentorship and expert support.

Fri March 7, 2025 | 10 Minutes

Addis Ababa Revenue Bureau Issues Travel Ban on 62 Tax Defaulters Owing Over 3.2 Billion Birr

The Addis Ababa Revenue Bureau has imposed a travel ban on 62 tax defaulters owing over 3.2 billion Birr. The Bureau has also collected 6.4 billion Birr in unpaid taxes over the past six months and urged taxpayers to meet their obligations promptly.

Fri March 7, 2025 | 5 Minutes

Ethiopia Earns Over 22 Million Birr from Live Animal Exports in Six Months

Ethiopia exported 369 live animals, including zebras, in the past six months, earning over 22 million Birr. Key markets include Thailand, Hong Kong, China, and North Korea, driven by high demand in Asia.

Thu March 6, 2025 | 3 Minutes

Cash Shortage in Ethiopia: 90,000 Birr Sold for 100,000 Birr

A cash shortage in Ethiopia, particularly in Benishangul-Gumuz, has led to illegal trading, with 90,000 Birr being sold for 100,000 Birr. Banks are limiting withdrawals to 500 Birr per person daily, exacerbating the crisis.

Thu March 6, 2025 | 2 Minutes

‘Mensh’ Mobile App Launched to Support Entrepreneurs with Affordable Services

Bright Mind Consult introduced "Mensh," a mobile app offering low-cost access to loans, market data, expert advice, and training for startups and SMEs. Available in Amharic and English, it aims to empower entrepreneurs across Ethiopia.

Wed March 5, 2025 | 10 Minutes

Lion Insurance Launches Ethiopia's First Trip-Based Insurance Coverage

Lion Insurance, in partnership with Little Ethiopia, introduced Ethiopia's first trip-based insurance, covering accidents, medical costs, and damages up to 1 million Birr.

Wed March 5, 2025 | 3 Minutes

Ethiopia's Exports to Kenya Half of Kenya's Exports to Ethiopia – Trade Forum Reveals

Ethiopia's 58 million exports to Kenya in 2023 are half of Kenya′s 58 million exports to Kenya in 2023 are half of Kenya′s 112.4 million exports to Ethiopia, with bilateral trade still under $200 million annually, as revealed at the Ethiopia-Kenya Trade Forum.

Tue March 4, 2025 | 5 Minutes

Over 50 Million Birr in Power Infrastructure Theft in 7 Months – Ethiopian Electric Utility

The Ethiopian Electric Utility has reported theft of power infrastructure exceeding 50 million Birr in just seven months, causing widespread service disruptions and economic losses. The theft, including transmission lines and transformers, is escalating, with authorities calling for collective action to protect national assets and hold perpetrators accountable.

Tue March 4, 2025 | 10 Minutes

Purpose Black Ethiopia Employees in Crisis as Company Fails to Pay Salaries and Expenses

Purpose Black Ethiopia's accounts remain frozen, and employees face severe financial hardship due to unpaid salaries and expenses. A court ruling to release funds was blocked by the prosecutor's office, exacerbating the company's challenges.

Mon March 3, 2025 | 10 Minutes

Addis Ababa Bus Service Struggles Without Standing Passengers, Enterprise Says

The Addis Ababa Bus Service Enterprise faces challenges in providing regular services due to a lack of standing passengers, which are essential for covering operational costs. An improved passenger identification system is being introduced to address complaints and prevent misuse.

Mon March 3, 2025 | 10 Minutes

Fuel Prices to Remain Unchanged for March, Ministry Confirms

The Ministry of Trade and Regional Integration announced that fuel prices for March will remain the same as January, with no changes to the cost of benzene, naphtha, kerosene, aviation fuel, or black naphtha.

Mon March 3, 2025 | 2 Minutes

Ethio-Djibouti Railway Mandates FAYDA ID for Ticket Purchases Starting March 03

The Ethio-Djibouti Railway Share Company has fully digitized its ticket purchasing process, requiring passengers to use a FAYDA ID starting March 03. Domestic users can use their FAYDA registration number, while international travelers can use their passports. Ticket prices remain unchanged.

Thu February 27, 2025 | 10 Minutes

National Bank Sells USD at 135 Birr in Special Foreign Currency Auction

The National Bank of Ethiopia sold one US dollar for an average of 135 birr in a special foreign currency auction, with 27 banks participating. Further auctions will be held as necessary to maintain market stability.

Tue February 25, 2025 | 3 Minutes

1 Billion Birr Car Battery Factory Inaugurated in Debre Berhan

A new car battery manufacturing factory, built at a cost of 1 billion birr, has been inaugurated in Debre Berhan, creating 110 jobs and aiming to replace imported batteries with locally produced ones.

Tue February 25, 2025 | 3 Minutes

Alibaba to Start Accepting Payments in Ethiopian Birr Starting Feb 24-2025

Alibaba will begin accepting payments in Ethiopian Birr from February 17, 2017, allowing Ethiopians to shop on AliExpress using their local currency. This move aims to enhance accessibility and reduce reliance on international payment systems.

Sun February 23, 2025 | 5 Minutes

Building Hope: Mekedonia’s $20 Million Dream and Seifu Fantahun’s Rallying Cry

TV host Seifu Fantahun boosts the effort via his Seifu on EBS platform and a dedicated GoFundMe, leveraging his influence to inspire donations.

Sat February 22, 2025 | 20 Minutes

Egg Prices Surge in Addis Ababa Amid Lack of Adequate Investigation

Egg prices in Addis Ababa have risen sharply, with local eggs exceeding 20 birr and foreign eggs selling for 18 birr. The Ministry of Agriculture cites insufficient investigation into the causes, despite record egg production exceeding targets.

Wed February 19, 2025 | 10 Minutes

Fertilizer Prices Double Despite Subsidies, Says Damot Union Manager

Despite a 3,700 birr per quintal subsidy, fertilizer prices have doubled, with DAP now costing 7,835 birr and urea 6,113 birr, amid delays in distribution due to security issues in the Amhara region.

Wed February 19, 2025 | 10 Minutes

IMF Stresses Need for Ethiopia's Central Bank Independence to Stabilize Economy

The IMF has urged Ethiopia to ensure the independence of its National Bank, emphasizing that monetary policy decisions must be data-driven to benefit the economy. During her visit, IMF Managing Director Kristalina Georgieva discussed with Ethiopian officials the importance of curbing inflation and stabilizing borrowing costs. While acknowledging progress, the IMF highlighted gaps in the National Bank's autonomy and called for stronger governance to support economic reforms.

Wed February 12, 2025 | 10 Minutes