Ethiopia’s recent decision to float its currency has sent shockwaves through the economy, underscoring the complexities of such a policy shift. While intended to foster a market-oriented system, the move has precipitated rapid currency depreciation, leading to heightened inflation and economic uncertainty.

The immediate impact on businesses has been profound. Exporters, once basking in the glow of a depreciated currency, now confront a myriad of challenges. Input costs have surged. Moreover, the instability of the exchange rate has made planning a daunting task.



On July 9, 2024, the National Bank of Ethiopia (NBE) unveiled a transformative monetary policy framework, marking a pivotal shift in the nation’s economic management and strategic financial planning. This framework aims to modernize Ethiopia’s monetary policy, enhance price stability, and align with international central banking best practices.

The cornerstone of this new framework is the transition to an interest-rate-based regime. The NBE will use the National Bank Rate (NBR), initially set at 15%, as the primary tool to signal its policy stance and influence broader monetary and credit conditions. This shift enhances transparency and predictability in monetary policy, aligning Ethiopia more closely with modern central banking practices.


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A Beacon of Excellence Driving Ethiopia’s Industrial Transformation

Since its inception in 2008, the Ethiopian Quality Award (EQA) Organization, a collaborative effort of Addis Ababa University and Walta Media and Communications, has been a unique beacon for Ethiopian businesses striving for excellence. Unlike other awards, the EQA doesn’t just hand out trophies; it rigorously evaluates companies based on international quality standards. This unique approach spurs organisations to refine their leadership, customer focus, and internal operations, leading to improved resource management, streamlined processes, and a more competitive Ethiopian business landscape.

The EQA’s impact transcends individual companies. By establishing a national benchmark for quality, it sparks a collective drive for improvement. Furthermore, the EQA plays a pivotal role in fostering a culture of continuous learning, providing a platform for businesses to share best practices and elevate the overall discourse on quality within Ethiopia. The EQA is more than an award; it’s a powerful catalyst for Ethiopian business transformation and industrial competitiveness.


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The Foreign Carriers with the Most Flights to & from Addis Ababa

Addis Ababa Bole International Airport (ADD) is the most crucial airport in Ethiopia. It is the gateway for numerous international and domestic flights in the national capital and is vital to the Ethiopian aviation industry and economy.

Ethiopian Airlines, the country’s flag carrier, has the most significant presence at the airport. However, other airlines also have a considerable presence. Plenty of other airlines service ADD from all over the world.



Singapore’s Growth Model Lessons for Ethiopia

Ethiopia’s recent delegation to Singapore has ignited national discussions about the potential for our nation to replicate the Southeast Asian nation’s economic success. While inspiration is crucial, genuine development hinges on a fundamental principle: robust national unity. Here’s how Singapore’s journey offers valuable lessons for Ethiopia’s industrialization and stability, but national unity remains the cornerstone.


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Africa’s Rise
A Continent of Diversifying Economies

The latest forecasts paint a promising picture of Africa’s economic landscape in 2024. The International Monetary Fund (IMF) reports a shift in the continent’s power rankings, with South Africa taking the lead as the largest economy, surpassing Nigeria and Egypt. While Nigeria faces internal challenges, other countries like Ethiopia demonstrate impressive growth. Ethiopia, now the fifth largest economy, is projected to maintain economic stability until 2030 thanks to ongoing reforms and strategic investments in critical areas. This highlights the crucial role of policy decisions and targeted spending in shaping a nation’s economic future.



The recent findings of the National Bank of Ethiopia (NBE) Financial Stability Report have brought to light a significant trend: the ten largest borrowers hold a substantial portion, 23.5%, of the banking industry’s total loans and advances. This concentration of credit, while potentially beneficial, also poses substantial risks to the stability and health of Ethiopia’s financial system.


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Global Innovation Initiative Group (GIIG). Africa, a catalyst for innovation across the African continent, is at the forefront of driving transformative initiatives such as the Global Startup Awards Africa, the GIIG Africa Foundation, and the GIIG Africa Fund. In an interview with EBR, the co-founder of GIIG Africa, Jo Griffiths, shares valuable insights on fostering collaboration between startups, investors, and government stakeholders, shedding light on the journey of GIIG Africa in empowering emerging startup nations and shaping a global Africa driven by innovation. EBR had the privilege of interviewing Jo Griffiths, the co-founder of GIIG Africa, to explore the organization’s impactful initiatives and gain insights into fostering collaboration among startups, investors, and government stakeholders.


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Catering to Growing Demands, Values

Ethiopia, known for its diverse cultural and religious tapestry, has recently experienced a significant surge in demand for Halal products and services. This trend reflects a growing awareness of Halal principles, particularly within the country’s substantial Muslim population, estimated at around 34%, according to various studies.

This heightened awareness presents a significant market opportunity. Businesses increasingly recognise the demand for Halal-certified products, primarily focusing on food. However, the need for Halal-certified cosmetics, pharmaceuticals, and other goods is also emerging. This rise in Halal businesses presents exciting new avenues to boost exports, paving the way for increased investment and job creation.

However, the expansion of the Halal business sector needs some help. Ethiopia needs a robust national Halal certification system and a well-defined policy and legal framework. The infrastructure and logistics to create a truly enabling environment have yet to be fully established. These shortcomings hinder export performance and erode consumer trust.

Despite these hurdles, Ethiopia’s burgeoning Halal market holds immense potential. By addressing certification limitations and fostering adherence to Halal standards, Ethiopia can strategically position itself as a significant player in the global Halal industry. This article explores the proliferation of Halal businesses in Ethiopia, examining the driving forces behind this growth, the opportunities it presents, and the challenges it faces.




Ethiopian Business Review | EBR is a first-class and high-quality monthly business magazine offering enlightenment to readers and a platform for partners.



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