A three-day summit last week set the stage to launch the long-awaited Ethiopian Securities Exchange (ESX), bringing together high-profile figures from the financial and policy spheres. Governor Mamo Mihretu of the National Bank of Ethiopia (NBE) accentuated the economic necessity of a vibrant capital market ecosystem. He declared the urgency […]
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Addis Ababa, November 16, 2024 (FBC) – Ethio-Engineering Group, SG Automotive Group, and Mr. Luta Investments Group have entered into a tripartite Memorandum of Understanding to collaborate on the assembly of electric vehicles in Ethiopia and address technical matters. The agreement aims to expedite the transition to electric vehicles and […]
Addis Ababa, November 14, 2024 (FBC) – The China-Africa (Ethiopia) Economic and Trade Cooperation Forum has commenced in Addis Ababa with participation from a high-level Chinese delegation. In his opening speech, Minister of Finance, Mr. Ahmed Shide, highlighted the deepening of the relations between Ethiopia and China to a higher […]
Foreign Direct Investment (FDI) in Ethiopia has been a significant focus for the country’s economic development strategy. Ethiopia, as one of Africa’s fastest-growing economies, has been actively seeking to attract foreign investors to boost its industrialization efforts and infrastructure development. Current Trends and Developments: In summary, while Ethiopia offers promising […]
Addis Ababa, November 13, 2024 (FBC) — The Ethiopia-Russia Business Forum commenced today in Addis Ababa, under the theme “Russia: Ethiopia: Time Doesn’t Wait.” Ambassador Mesganu Arga, State Minister of Foreign Affairs; Zeleke Temesgen, Commissioner of the Ethiopian Investment Commission; Brook Taye, CEO of Ethiopian Investment Holdings; Evgeny Terekhin, Russian […]
Addis Ababa, November 12, 2024 (FBC) – An exhibition highlighting Ethiopian women exporters will take place in Nairobi, Kenya, on December 6, 2024, as part of the African Continental Free Trade Area (AfCFTA) initiative. Co-organized by the Center for Accelerated Women’s Economic Empowerment (CAWEE), the African Women’s Entrepreneurship Program’s (AWEP) […]
Addis Ababa, November 12, 2024 (FBC) – The Dire Dawa Free Trade Zone has officially begun full operations, according to the Industrial Parks Development Corporation (IPDC). Fisseha Yitagessu, CEO of IPDC, made the announcement during a visit with investors currently in the process of securing licenses from the Ethiopian Investment […]
Addis Ababa, November 11, 2024 (FBC) – In a landmark achievement, the Ethiopian Ministry of Agriculture announced Ethiopia’s inaugural shipment of vegetable products to Europe. Ethio Vegfru Plc. successfully embarked on transportation of Sugar snap peas and mangetout to the Netherlands today. The shipment, consisting of 12 tons of these […]
The Ethiopian Securities Exchange (ESX), a significant milestone in the country’s financial landscape, is slated for official launch at the end of November 2024. This development marks a historic step as part of Ethiopia’s national economic reform efforts aimed at enhancing public-private sector collaboration. Established in October 2023, the ESX […]
The International Monetary Fund (IMF) has revised its inflation forecast for the 2024/25 year, commending the government’s efforts to control rising prices in light of recent macroeconomic reforms. Despite the successful implementation of a flexible exchange rate, the response of foreign exchange supply has been slower than anticipated in the […]
Addis Ababa, November 1, 2024 (FBC) – The Industrial Parks Development Corporation (IPDC) today disclosed that it has attracted 300 million USD worth of investments in the first quarter of the current Ethiopian fiscal year. Some 45 investors have already engaged in various industrial parks managed by the corporation and […]
ddis Ababa, October 29, 2024 (FBC) – The China-Africa Development Fund (CADF) has expressed its desire to work in partnership with the Ethiopian Investment Commission (EIC) to facilitate further investments in Ethiopia. This story was disclosed by EIC after the meeting between Mr. Dagato Kumbe, Deputy Commissioner of the Investment […]