Ethiopian Business ReviewNovember 24, 2020
Foreign currency generated from export of Gold exceeded coffee, for the first time. Gold generated USD265.3 million during the first quarter of 2020/21, while coffee USD230.5 million, followed by cut flower and khat, at USD138.2 million and USD129.5 million, respectively.
Ethiopian Business ReviewNovember 19, 2020
The National Bank of Ethiopia (NBE) announced there are only 12 days left to transact with the old currency notes. After the 12 days, people can bring the old notes to banks and change it with the new ones, but cannot transact with it.
Ethiopian Business ReviewNovember 19, 2020
The Addis Ababa city administration has discovered over 1,000-hectare plots of land whose owners are unknown and held illegally. The administration also found 100 houses unidentified with legal owners.
The informal land and housing market mushroomed in the capital, is under reform, according to Adanech Abebe, deputy mayor, while disclosing findings of undergoing land and housing audit assessment.
Ethiopian Business ReviewNovember 17, 2020
Number of Ethiopian asylum seekers crossed into Sudan has surpassed 25,300, according to United Nations for the Coordination of Humanitarian Affairs (UNOCHA). “the UN is alarmed by the escalating conflict in north Ethiopia, increasing insecurity in western and southern Oromia, as well as eastern Benishangul Gumuz region,” stated the organization, on November 16, 2020.
Ethiopian Business ReviewNovember 17, 2020
Ethiopia’s new commercial code, which is currently at draft stage at the House of People’s Representative (HPR), allows establishment of One Person PLC, a provision not included in the existing code, which was ratified in 1960.
Ethiopian Business ReviewNovember 15, 2020Ending the conflict with Eritrea, as well as implementing reforms that strengthened public institutions and broadened the political space are among achievements of Prime Minister Abiy Ahmed (PhD) administration. In addition, the homegrown economic reform agenda that outlined macroeconomic, structural, and sectoral reforms is expected to pave the way for jobs creation, poverty reduction, and inclusive growth.
Ethiopian Business ReviewNovember 15, 2020According to the Industrial Development Report 2020, much of the world, especially Africa, is not engaging with new technology and remains excluded from recent technological breakthroughs.
Ethiopian Business ReviewNovember 15, 2020
Last year, Parliament passed a law forcing financial institutions to accept movable properties like livestock, patents, land operating rights, agricultural products, land ownership rights, warehouse receipts, and intellectual property rights, as collateral. The central bank is betting this will fundamentally change the credit landscape, which is currently highly collateralized and is resulting in bank credit injustice. The new move is expected to expand credit markets and improve access to credit for farmers, micro and small enterprises as well as cooperatives.
Ethiopian Business ReviewNovember 15, 2020
Close to 2,000 low-income women make their livelihoods out of the forest up on Entoto Hills, a chain of plateaus covering the northern side of Addis Ababa, at 2,000masl. Entoto is known as “the lung of Addis Ababa,” for its dense eucalyptus tree cover birthing rain and oxygen for the capital.
Ethiopian Business ReviewOctober 15, 2020The past three years have been a time of considerable social unrest and political instability in Ethiopia. Once the Tigray People’s Liberation Front (TPLF) led coalition of the Ethiopian People’s Revolutionary Democratic Front (EPRDF) made way to Abiy Ahmed’s reformist government, social unrest has sprung up in all corners of the country. A large number of people have lost their lives while millions became internally displaced.
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