Ethiopia’s landlocked status has long constrained its economic growth and regional influence. While direct access to the sea offers undeniable benefits, achieving it remains a complex geopolitical puzzle. Direct access to the seaport brings enormous economic benefits for Ethiopia. It strengthens a nation’s regional and international standing, granting it a voice in maritime affairs and potentially boosting cooperation with other coastal countries and superpowers.



On December 11, 2023, Ethiopia missed a USD33 million interest payment on its December 2024 dollar bond, marking the East African nation’s latest defaulter by emerging-market sovereigns and raising concerns about its once-promising economic future. This significant default, the first for Ethiopia after years of rapid economic growth, sent a shockwave through the international financial community and threatened to hinder the country’s future development prospects.


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Africa, the world’s second-largest continent in terms of land area and population, holds a prominent position on the global stage, rivalling only Asia. With over 11,724,000 square miles (30,365,000 square km), Africa covers approximately one-fifth of the Earth’s land surface. Its geographical features are diverse and captivating, with the continent bisected by the Equator, positioning most of its territory within the tropical region.


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In a significant stride towards combating malnutrition and improving public health, the Ethiopian government has recently endorsed the mandatory fortification of essential food items, such as edible oil, wheat flour, and potassium iodide. This decision aims to prevent the high burden of neural tube defects (NTDs) and address widespread micronutrient deficiencies in the country. By fortifying these staple foods, Ethiopia is taking a proactive approach to improve the overall well-being of its population and pave the way for a healthier future, writes EBR’s Eden Teshome



In a move marked by strategic foresight and geopolitical complexity, Ethiopia recently signed a Memorandum of Understanding (MoU) with Somaliland, paving the way to realising Ethiopia’s aspiration to secure access to the Red Sea. This significant development requires a nuanced understanding of the current status of de facto states, the geopolitical centres of the world, and the intricate dynamics of the Horn of Africa.


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Born and raised in the vibrant neighbourhoods of Addis Ketema and Kolfe in Addis Ababa, Zerubabbel Mola emerged as a spirited child with an independent streak. He despised being told what to do and marched to the beat of his drum. This rebellious nature ultimately led him down the path of becoming a musician. Zerubabbel’s musical journey began as he was captivated by the rich tapestry of sounds surrounding him and honed his vocal skills by joining a choir. However, his life took a significant turn when his father departed for the United States. Deeply missing his father and grappling with melancholy, Zerubabbel stumbled upon a guitar tucked away beneath his father’s bed.

Despite lacking formal training, he instinctively began strumming the strings and discovered a familiar melody—the song “Zekiyos Achir Sew Neber,” meaning Zekiyos was a short guy in Amharic, a song he used to play as a child. In that moment, the guitar became his solace and connection to his father, igniting an unwavering love for playing the instrument. After gaining experience and refining his skills, Zerubabbel embarked on a musical journey that would define his career. He spent five transformative years working alongside the talented Mehari Brothers, immersing himself in their creative energy. Building upon this foundation, he joined forces with the renowned Zemen Band, where he spent two exhilarating years.

Seeking new horizons, Zerubabbel set his sights on South Africa, where he joined yet another band. After these events, his musical talent blossomed to a new height, propelling him toward an unstoppable trajectory. His artistic growth culminated in a highly acclaimed album called “Enfalot,” which featured fifteen sensational songs that resonated deeply with audiences far and wide. He is also the owner of six singles that are loved by many. Zerubabbel’s story is one of passion, resilience, and an unwavering commitment to his craft. From his rebellious childhood to his heartfelt connection with music, he has emerged as a charismatic and beloved singer, captivating audiences with his powerful voice and magnetic stage presence. With each new chapter, Zerubabbel continues to enchant listeners, leaving an indelible mark on the music scene and solidifying his status as a true musical force to reckon with. EBR’s Eden Teshome had the chance to discuss with the singer for this exclusive.


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Ethiopian Boxing Soars Towards Brighter Prospects

Boxing is a popular sport in Ethiopia. Unfortunately, it has faced challenges due to inadequate budgeting and a limited number of yearly competitions. Only a few individuals have dedicated their efforts to popularizing Boxing in Ethiopia, often without sufficient support from stakeholders. However, there is now a glimmer of hope on the horizon. The recent election of Eyasu Wossen as the new president of the African Boxing Federation brings optimism. EBR’s Dr. Brook Genene takes a closer look at the current state of the sport in the country.


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Debt Restructuring Crucial for Regaining Stability, Driving Future Growth

Ethiopia has made significant progress in addressing its debt burden. The country has agreed with some of its official bilateral creditors to suspend debt-service payments temporarily. The Ministry of Finance has also entered into negotiations to restructure a one billion dollar Eurobond that will mature next year. This development holds great promise for Ethiopia’s economic stability, enabling it to effectively manage its debt obligations and pave the way for a sustainable financial future.

However, Ethiopia faces significant challenges in its current financial situation. Limited availability of foreign currency has impeded the country’s ability to meet its foreign exchange needs, as funding from non-governmental organizations and other sources also diminished. The widening exchange rate between the parallel market and the formal market has been one of the primary reasons for the reduction in remittance inflows. Additionally, the adverse effects of the COVID-19 pandemic, internal conflicts and a decline in tourism income have exacerbated Ethiopia’s financial difficulties.

Addressing these challenges and ensuring a brighter economic future for Ethiopia hinges on successful debt restructuring. This process makes debt obligations more manageable, freeing up resources for essential investments. In this insightful report, EBR’s Najat Ahmed delves deeper into the complexities of Ethiopia’s financial situation and the prospects for successful debt restructuring. By tackling its current obstacles and seizing opportunities for sustainable debt management, Ethiopia can pave the way for a more stable future.


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Breast cancer, a global menace, stands as the fifth leading cause of cancer-related deaths worldwide. Its devastating grip extends across the borders of both developed and developing countries, leaving no nation untouched. Ethiopia, a land of vibrant culture and resilience, grapples with the weight of this affliction. Within its borders, breast cancer silently preys upon countless women, casting a shadow over their lives. Yet, a veil of ignorance shrouds the populace, obscuring the urgency of the matter. The lack of awareness engenders a troubling trend: a multitude of sufferers, aware of breast-related issues, choose to endure their plight in silence, avoiding the doors of hospitals. EBR’s Dr. Brook Genene delves into the current state of this battle, unearthing the challenges that lie ahead.


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Every year, Ethiopia imports billions of dollars’ worth of goods, an input for the manufacturing sector. The country now stands at a crossroads with a history of underdeveloped manufacturing due to past regimes. The concept of import substitution, replacing imported products with locally produced goods, presents a significant opportunity for businesspeople and investors. However, the path to success encounters challenges, particularly raw material shortages and forex scarcity. EBR’s Eden Teshome delves into the implications of these hurdles on Ethiopia’s industrial production and explores potential strategies to overcome them.




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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