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New year, new divides
Exorbitant drink upcharges undermine Ethiopia’s new year traditions, community bonds
The air was filled with excitement and anticipation as the sun began to set on...
Ethiopia completes fourth filling of Grand Ethiopian Renaissance Dam
Ethiopian Prime Minister Abiy Ahmed announced today the successful completion of the fourth and final filling of the Grand Ethiopian Renaissance Dam (GERD), marking...
Domestic fuels 7% up to account for escalating international oil benchmarks
Consumers and businesses will pay an average of seven percent more at the pump, as Ethiopia adjusts domestic fuel prices amid ongoing volatility in...
UK, Dutch financiers channel $40m through Dashen to cultivate underfunded agriculture
British International Investment (BII) and FMO, the Dutch Entrepreneurial Development Bank, have jointly committed up to USD 20 million each to Dashen Bank, one...
Tripartite dam talks conclude with next round planned for September
The latest rounds of tripartite negotiations between Ethiopia, Egypt, and Sudan over filling and operating the Grand Ethiopian Renaissance Dam (GERD) concluded yesterday in...
Prime Minister Abiy Ahmed : Ethiopia granted 1-year waiver on Chinese debt
Prime Minister Abiy Ahmed (PhD) announced that Ethiopia has been granted a one-year grace period for debt repayments to China. This comes as the...
Saudi border guards committed “crimes against humanity” in mass killings of Ethiopian migrants
Evidence supports claims of Saudi guards asking migrants "which limb to shoot" before execution.
A new report by Human Rights Watch has alleged that Saudi...
Central bank of Ethiopia caps credit expansion at 14% in inflation fight
The National Bank of Ethiopia imposed a 14 percent limit on annual credit expansion to reign in high inflation fueled by massive loan growth exceeding 382 billion birr as of February 2023. Authorities aim to reduce inflation pressures as bank lending has boosted money supply.
The National Bank of Ethiopia doubles forex retention limit for exporters
The National Bank of Ethiopia (NBE) has doubled the percentage of foreign currency that Ethiopian exporters can retain from their export earnings from 20% to 40%. This means that exporters will now be able to keep 40% of their foreign currency earnings, while 50% will be surrendered to the central bank and 10% will be surrendered to commercial banks.
World Bank suspends new funding to Uganda over anti-homosexuality law
The #WorldBank has suspended new public financing to #Ugandain response to the country's controversial #AntiHomosexualityAct. In a statement released on August 8, 2023, the World Bank said “the new law fundamentally contradicts its values of inclusion and non-discrimination.”
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