Addis Ababa, April 10, 2024 (FBC) – The government is increasingly seeking to broaden startup ecosystems and encourage innovation in Ethiopia, State Minister of Finance Eyob Tekalign said. “Startup Ethiopia Exhibition” was launched today at the Science Museum in the presence of high-level government officials including Labor and Skill Minister […]
Daily Archives: April 12, 2024
11 posts
In a groundbreaking move to spur the growth of startups, the government introduced a set of innovative incentives. Speaking at the Adwa Memorial on Thursday, April 4, Prime Minister Abiy highlighted the government’s commitment to fostering an environment conducive to the development of startups. Recognizing the unique needs of startups […]
Ethiopia is taking significant strides in transforming its payment landscape by integrating a comprehensive digital payment system. This strategic shift aims at fostering a more inclusive and efficient economic growth, marking a pivotal moment in the country’s journey towards a digital economy. Solomon Damtew, the Director of the Payment and […]
Car prices be 54% cheaper if dealers acquired 100% of the forex Ethiopia’s economic landscape has been facing a multitude of challenges in recent years, and one of the key issues highlighted in the latest edition of The Blue Book, an annual economic publication by First Consult, is the prevalence […]
A directive that requires excise tax collectors to stamp their merchandise is drafted by the Ministry of Finance (MoF). Additionally, the directive enforces that importers or producers create a system that interfaces with the tax office. The excise tax proclamation 1186/2020 is the basis for its drafting, according to the […]
Regulators are readying to embark on a study on the use of a Central Bank Digital Currency (CBDC) as part of the Homegrown Economic Reform Agenda. The National Bank of Ethiopia (NBE) is set to initiate the study in June under instructions from the macroeconomic team led by Girma Birru, […]
Companies must have 500mln in capital, at least 300 shareholders Companies looking for a listing on the main board of the upcoming Ethiopian Securities Exchange (ESX) are required to hold at least half a billion birr in capital, according to a newly-published rulebook. The draft prepared by legal experts at […]
The consequences of inaccurate inflation forecasts shape monetary policy decisions that affect millions. The misjudgment of inflation’s trajectory can influence interest rates, employment, and household spending power. Underestimating the Great Inflation revealed the real-world implications of such forecasting errors, calling for models that mirror the complexity of human economic behaviour, […]
Addis Ababa, April 5, 2024 (FBC) – Jemal Beker Abdula, Ambassador of Ethiopia to Pakistan, on Thursday announced to mobilize another trade delegation of Pakistani businessmen to Ethiopia next month for further strengthening business, trade and commercial connections between the two countries. Addressing the business community at Federation of Pakistan […]
ESX unveils stringent listing requirements Addis Ababa, April 4, 2024 (FBC) – The Ethiopian Securities Exchange (ESX) today confirmed that it has concluded its share offering upon amassing 1.5 billion birr in subscribed capital from numerous investors, encompassing three foreign entities. The Trade and Development Bank Group (TDB), the financial […]
Addis Ababa, April 4, 2024 (FBC) – The Ethio Engineering Group (EEG) and the New Holland signed agreement today for the supply of semi-finished parts to assemble 500 tractors and 50 combine harvesters. Ethio Engineering Group CEO Suleiman Dedefo and New Holland Middle East and Africa Business Director Ozkan Eren […]