Business & Economy

12 articles in this category

Ethiopia’s $12.5 Billion Mega-Airport: Early Works Underway as Global Investors Show Interest

Finance Minister Ahmed Shide announced that over $750 million has been spent on early works for Ethiopia's new $12.5 billion mega-airport in Bishoftu.

Ethiopia Drafts Landmark Law to Open Insurance Sector to Foreign Investment

Ethiopia's National Bank has prepared a draft proclamation set to revolutionize the nation's insurance industry by opening it to foreign investors and establishing an independent regulatory authority.

Oil Prices Surge Over 5% Amid US-Iran Tensions After Vessel Seizure

Global oil prices surged by over 5% on Monday, driven by escalating fears of a breakdown in the ceasefire agreement between the United States and Iran following the US seizure of an Iranian commercial vessel.

Prime Capital Secures License as Ethiopia’s Sixth Investment Bank

Prime Capital S.C. has been granted an investment banking license by the Ethiopian Capital Market Authority, making it the sixth firm to enter the country's emerging capital market.

Ethiopia’s Largest Construction and Infrastructure Trade Show Returns to Addis Ababa

The Big 5 Construct Ethiopia trade show returns to Addis Ababa this April, featuring over 180 international exhibitors and cutting-edge infrastructure solutions.

Apr 20

Ethiopian Airlines to Expand Domestic Network to 27 Airports; New Bishoftu Hub Details Revealed

Ethiopian Airlines Group has announced plans to increase its domestic destinations to 27 by next month while revealing a 2030 opening date for the massive new Bishoftu International Airport.

Mar 31

Ethiopian Airlines Confirms No Price Hikes for Domestic Flights

Ethiopian Airlines CEO Mesfin Tasew has confirmed that domestic flight prices remain unchanged despite global fuel supply challenges.

African Nations Turn to Dangote Refinery Amid Middle East Energy Crisis

African nations are looking to Nigeria's Dangote Refinery as a strategic alternative to Middle Eastern oil amid rising global supply chain concerns.

Global Oil Prices Surge Past $110 Amid Middle East Tensions

Brent crude oil prices have jumped to $114 per barrel, driven by rising geopolitical tensions in the Middle East.

Over 1,300 Ethiopians Protest Against Fintech Investment Group Over Failed Vehicle Deliveries

Over 1,300 citizens are protesting against Fintech Investment Group after failing to receive electric vehicles they had saved for, leading to severe financial and personal hardship.

National Bank of Ethiopia Sets New Governance Standards for Insurance Firms

The National Bank of Ethiopia has introduced a new directive mandating gender diversity, age requirements, and stricter professional qualifications for insurance company leadership.

Over 1,300 Ethiopians Allege Massive Fraud by Electric Vehicle Importer

Over 1,300 citizens are accusing an electric vehicle importer of a 1.4 billion Birr fraud, alleging they paid for cars that were never delivered.