The International Monetary Fund (IMF) has approved a $3.4 billion financing package under its Extended Credit Facility (ECF) for Ethiopia, with an immediate disbursement of $1 billion. The four-year arrangement aims to support Ethiopia’s Homegrown Economic Reform (HGER) Agenda, which targets macroeconomic stability, external debt sustainability, and inclusive, private sector-driven growth.
Drawing people from all walks of life, Abrehot Library has become a sanctuary of learning and connection in Addis Ababa. From eager students seeking quiet study spaces to ambitious business owners looking for a hub of innovation, this Library has transformed into a cherished haven. Its state-of-the-art facilities, rich collection of resources, and inviting atmosphere have created a magnetic pull, making it the go-to destination for the capital’s curious minds and entrepreneurs alike. EBR’s Mintesinot Nigussie walks through the wonders of Abrehot Library, uncovering how it has become more than just a library but a beacon of opportunity in Addis Ababa.
The corridor development in Addis Ababa has transformed the city with its modern aesthetics, improved pedestrian pathways, and advanced transit systems that enhance connectivity and foster economic growth. However, this urban transformation has come at a high cost, as many neighbourhoods have been demolished, displacing numerous families. In the wake of this upheaval, many domesticated animals, such as cats and dogs, have been abandoned, left to roam the streets in confusion, searching for owners who can no longer care for them. These animals’ struggles highlight the often-overlooked costs of progress and raise essential questions about our responsibility toward those affected by urban development. EBR’s Mintesinot Nigussie sheds light on the impact of these changes, sharing the real-life stories of these animals and their displaced families.
Ethiopia’s debt-to-GDP ratio has dropped to 13.7% from over 30%, thanks to strategic reforms initiated during the transition period, according to Minister of Planning and Development Fitsum Assefa (PhD). The government’s new economic and social policy vision prioritizes inclusive growth across sectors like agriculture, manufacturing, mining, tourism, and the digital economy. This vision aims to reduce economic imbalances, transfer key roles from the government to the private sector, and foster structural transformation.
Ethiopia officially launched its Securities Exchange (ESX) today. The much-anticipated event was officiated by Prime Minister Abiy Ahmed (PhD) at the Science Museum in Addis Abeba, marking a milestone for the nation’s economic trajectory.
Ethio Telecom’s digital finance platform, Telebirr, is making waves in Ethiopia’s financial sector, driving change in how millions of Ethiopians access money, services, and economic opportunities. In just three years, Telebirr has processed Birr 3.3 trillion in transactions.
In a move that has raised both expectations and concerns, Ethiopia’s Central Bank (NBE) has approved a significant increase in the credit growth target to 18%, up from the previous 14%. This decision, made during the Monetary Policy Committee’s (MPC) meeting on December 31, 2024, aims to bolster economic growth amid challenging liquidity conditions faced by banks.
Geez Education and Training Plc signed two landmark Memorandums of Understanding (MoUs) with California State University, the Global Academy of Finance and Management (GAFM), and the American Academy of Project Management (AAPM). The agreement introduces 275 internationally recognized training programs, starting with 48 fields delivered in a hybrid format of online and in-person instruction. These include courses in capital markets, finance and project management, technology, business, and research. The initiative also promotes innovation through STEM-focused courses, research opportunities, and international student exchange programs. It aims to bridge the gap between education and industry demands, equipping professionals with the expertise to drive sustainable economic growth.
The vast and geographically diverse State of Oromia has remained relatively unexplored for an extended period, with its rich cultural heritage, breathtaking landscapes, and historical sites largely unknown to the global tourism market. The State has faced significant challenges, including inadequate infrastructure, ongoing conflicts, and misleading travel advisories, which have hindered tourist inflow. However, a transformative initiative has emerged: Visit Oromia, launched by the Oromia Tourism Commission in 2019. This program aims to unlock the State’s untapped tourism potential by promoting inbound travel and emphasising its unique attractions. Visit Oromia is set to reposition Oromia as a vibrant tourist destination, reshaping perceptions and highlighting the beauty and resilience of the Oromo people. In an exclusive interview, EBR’s Mintesinot Nigussie spoke with Lelise Duga, the visionary commissioner of the Oromia Tourism Commission, also known as Visit Oromia, about this groundbreaking initiative’s vision and strategic goals.
ZamZam Bank S.C. announced that its deposits reached Birr 7.7 billion as of December 29, 2024, marking a 38% increase from the Birr 6.8 billion recorded during the 2023/24 fiscal year. The announcement was made during the bank’s 4th Shareholders’ Meeting and 3rd Immediate Meeting, held at Millennium Hall, Addis Ababa.
Mintesinot Nigussie Asfaw