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 […]
Monthly Archives: August 2024
60 posts
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 […]
Ethiopia has a complex system of customs taxes and investment incentives designed to stimulate economic growth and attract foreign investment. Understanding these regulations is crucial for businesses and investors looking to operate in the country. Customs Tax Structure Customs Duties: The rate of customs duties in Ethiopia ranges from 0% […]
Addis Ababa, August 1, 2024 (FBC) – A 64-member Chinese delegation, including investors and mayors, took part in a Business-to-Government Forum at the Skylight Hotel in Addis Ababa which kicked off Wednesday the 31st of July 2024.. The forum involved over 40 Ethiopian government officials, according to the Ministry of Foreign […]
Addis Ababa, July 30, 2024 (FBC) – Ethiopia’s Minister of Finance, Mr. Ahmed Shide, stated that the partnership between Ethiopia and the World Bank is instrumental in his country’s collective pursuit of sustainable development. The Minister made this remark after the signing a 1.5 billion USD worth of support with […]
Addis Ababa, July 30, 2024 (FBC) – Ethiopian Investment Commission Commissioner, Hanna Arayaselassie, held a meeting yesterday with Iranian Ambassador to Ethiopia, Ali Akbar Rezaei. The discussion focused on mechanisms to boost collaboration in the trade and investment sectors between the two nations. https://www.fanabc.com/english/ethiopia-and-iran-explore-opportunities-for-strengthening-investment-cooperation
Addis Ababa, July 29, 2024 (FBC) – Fisseha Yitagesu, CEO of the Ethiopian Industrial Parks Development Corporation (IPDC), expressed optimism regarding the pursuit of excellence in Eco Industrial Park at Kombolcha Industrial Park. During his visit, the CEO reviewed ongoing operations and toured various manufacturing facilities within the park, engaging […]
Officials of the Ethiopian Customs Commission have drastically tightened the rules for duty-free import privileges. According to Commissioner Debele Kabeta, only army and national intelligence chiefs, along with the Minister of Finance, would retain granting these benefits. Effective July 22, 2024, the Commissioner ordered his subordinates to halt processing duty-free […]
Addis Ababa, July 26, 2024 (FBC) – During a meeting with the Russian-African Economic Cooperation Committee, Fisseha Yitagesu, CEO of the Industrial Parks Development Corporation (IPDC), expressed the corporation’s desire to attract more Russian investments into industrial parks, aligning with the long-standing relationship between Ethiopia and Russia. Fisseha highlighted the […]
Ethiopia’s financial industry is undergoing substantial transformation under the stewardship of Governor Mamo Mihretu, the 10th governor of the National Bank of Ethiopia (NBE). The series of reforms introduced over the past year signify a shift to address longstanding macroeconomic imbalances and position the country’s banking sector on par with […]