Addis Ababa, April 26, 2024 (FBC) – The Ministry of Foreign Affairs disclosed that Ethiopia is working hard to become member of BRICS’ New Development Bank. In a media briefing regarding the country’s diplomatic activities over the week, Spokesperson of the Ministry Nebiyu Tedla, indicated that Ethiopian delegation led by […]
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Addis Ababa, April 11, 2024 (FBC) – The Ministry of Trade and Regional Integration of Ethiopia (MoTRI) has disclosed a significant milestone in export revenue generation, announcing that a total of 617 million US dollars has been accrued from export products within the first 8 months of the current fiscal […]
Addis Ababa, April 11, 2024 (FBC) – Merchants’ Chamber of Commerce and Industry (MCCI) organised a Special Session with Ambassador of Ethiopia to India, Demeke Atnafu Ambulo, on ‘India-Ethiopia Bilateral Ties and Trade’ today at MCCI Conference Hall. While welcoming the guests, Mr. Rishabh C. Kothari, Immediate Past President, MCCI […]
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 […]
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, […]
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, March 31, 2024 (FBC) – The World Bank (WB) will continue supporting the National Financial Inclusion Strategy of Ethiopia, which is critical for the growth and prosperity of the country, Bank Senior Economist Michael O’Sullivan said. The National Financial Inclusion Strategy 2021-2025 was revised in close collaboration with […]
Officials at the Ministry of Agriculture have finally received the go-ahead to use a portion of the federal fertilizer subsidy budget to lower costs for lime needed to remedy acidic soil threatening farm productivity in many parts of the country. Lime (calcium carbonate) is used to neutralize acidic reactions and […]
The repayment of foreign debt by state-owned enterprises such as the Ethiopian Electric Power (EEP) and the Public Enterprise Holding and Administration (PEHA) is dragging far behind schedule as the federal government continues to grapple with the country’s crippling forex drought. Public enterprises under PEHA planned to service at least […]
Addis Ababa, March 22, 2024 (FBC) – The Industrial Parks Development Corporation of Ethiopia (IPDC) has confirmed the successful resumption of full-scale production at the Mekele Industrial Park. After a two-year halt due to the conflict, the companies operating within the park have now resumed their production activities. Mr. Aklilu […]