Addis Ababa, August 4, 2024 (FBC) – Feseha Yitagesu (PhD), CEO of the Industrial Parks Development Corporation (IPDC), has announced a series of initiatives aimed at attracting investments to the Jimma Industrial Park, capitalizing on the areas’s abundant natural resources. During a recent visit to the park, Feseha reviewed ongoing […]
Daily Archives: August 8, 2024
The Birr has crossed a historic threshold, hitting an exchange rate of over 100 Br to the dollar last week — a wake-up call for the country’s economy. Examining historical trends in official and parallel exchange rates since 1995, alongside the real effective exchange rate (REER) from 1987 to 2021, […]
Addis Ababa, August 3, 2024 (FBC) – National Bank Governor Mamo Mehretu remarked that the decision made on foreign exchange (FX) management system is historical aimed at fostering sustained economic growth. He emphasized that the government was not compelled by lending institutions to implement indigenous macroeconomic reforms, but rather saw […]
An African Development Bank (AfDB) report published this week forecasts Ethiopia’s development financing requirements over the coming six years will amount to a minimum of a quarter billion dollars. Dubbed ‘Driving Africa’s Transformation: The Reform of the Global Financial Architecture,’ the report features economic analyses and forecasts for all 54 […]
In a bid to avert the spillover of the exchange rate reform on the liabilities lurking in the portfolio of the Commercial Bank of Ethiopia (CBE), the government has opted for a massive capital injection of close to 900 billion birr into the state-owned giant. “A substantial capital injection of […]
Recent socioeconomic progress in Africa has occurred in the context of ubiquitous information and communications technologies (ICTs). According to the International Telecommunication Union 2017 data, 67 percent of African population, estimated to be about 1.13 billion, now has mobile phones and 26.5 percent are now using the Internet. Policymakers and African development […]
Addis Ababa, August 1, 2024 (FBC) – Fisseha Yitagessu (PhD), CEO of the Ethiopian Industrial Parks Development Corporation (IPDC), announced ongoing efforts to enhance the involvement of Chinese investors in Ethiopia’s industrial parks. Speaking at the annual Ethiopia-China Business Forum in Addis Ababa, he noted a noticeable increase in Chinese […]