News

Addis Ababa, October 28, 2024 (FBC) – Bahir Dar Industrial Park has made significant strides in benefiting local youth, agricultural investors, and farmers in the region. Zemen Junedin, Deputy Head of the Promotion and Marketing Division at the Ethiopian Industrial Parks Development Corporation (IPDC), reported that Nirvana, an Indian agroprocessing […]

The need for new financing strategies and improved access to global capital markets for development finance has become more pressing than ever. As a result, Africa requires an additional $1.3 trillion per year to make meaningful progress toward the Sustainable Development Goals (SDGs), according to experts. In response to this […]

ddis Ababa, September 6, 2024 (FBC) – The foreign exchange market gap with parallel market price has significantly declined from 100 to 4 percent in a single month following the implementation of the macroeconomic reform policy, National Bank of Ethiopia (NBE) Governor Mamo Mihretu said. In the launching ceremony of […]

At the opening ceremony of the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC), Chinese President Xi Jinping delivered a keynote address emphasizing the need for strengthened partnerships between China and African nations. The summit, attended by heads of state and government from various African countries, marks a significant […]

Addis Ababa, September 5, 2024 (FBC) – The implementation of comprehensive and robust reforms in Ethiopia has been instrumental in driving the growth of the manufacturing sector in recent years, according to Minister of Industry Mr. Melaku Alebel. A forum was held today in Addis Ababa, bringing together stakeholders from […]

Addis Ababa, September 5, 2024 (FBC) – Ethiopia’s Minister of Finance, Mr. Ahmed Shide, revealed that China has pledged financial backing of 400 million yuan (in the region of 56,342,800 USD) to facilitate the implementation of various projects within Ethiopia. Mr. Ahmed Shide revealed this story in his assessment of […]

Addis Ababa, September 4, 2024 (FBC) – Minister of Finance Mr. Ahmed Shide stated that Ethiopia has emerged as the top destination in East Africa for attracting foreign direct investment, solidifying its position as a beacon of economic growth and opportunity in the region. The Finance Minister made this statement […]

Addis Ababa, September 4, 2024 (FBC) – The Minister of Foreign Affairs, Taye Atse-Selassie, stated that Ethiopia’s recent macroeconomic reforms have opened up new and promising opportunities for investors. In his speech at the Ethiopia-China High-Level Business Forum being held in Beijing, the foreign minister emphasized that Ethiopia values the […]

Despite the strong demand by the IMF and World Bank, the government of Prime Minister Abiy Ahmed resisted currency devaluation for years siting its economic impact mainly on the poor. However, chronic foreign currency shortages particularly in recent years forced him to reverse its long-standing policy of fixing the exchange […]

The capital market is expected to see substantial growth in size and investment over the next four years, contingent on favourable macroeconomic conditions and successful policy implementations, according to a market size estimation study published by the Ethiopian Capital Market Authority (ECMA). The study, titled “Potential Market Size Estimation & […]

The executives of Ethiopian Investment Holdings (EIH) have designated 10 of the state-owned enterprises under the wealth fund’s wings for listing on the upcoming stock market. Tilahun Kassahun, CEO of the Ethiopian Securities Exchange (ESX), told The Reporter that Ethio telecom, the Ethiopian Insurance Corporation, the Ethiopian Shipping and Logistics […]

Unity Parks Corp. starts out with 28bln in authorized capital The Council of Ministers has approved the formation of a new state-owned enterprise to administer government-built parks and recreation centers in Addis Ababa and elsewhere with an authorized capital of 28 billion birr. The Unity Parks Corporation will start its […]