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BusinessThe Ministry of Trade and Regional Cooperation has announced new retail prices for petroleum products, effective today, following adjustments aligned with global oil market trends. According to the Ministry, the revised prices took effect on 01 December 2018 EC at 12:00 PM, introducing changes to several fuel categories while keeping others unchanged. Prices for aviation
BusinessAs Ethiopia races to industrialise and plug itself into East Africa’s emerging trade corridors, one structural constraint shapes its economic reality more than any other: maritime access. The country once relied on two Red Sea ports, Assab and Massawa, as its commercial lifeline. By the early 1990s, Assab alone handled more than 80% of Ethiopia’s
The Ministry of Industry, in partnership with Ethio Telecom, has officially launched “E-Tamirt,” a modern B2B e-commerce platform designed to connect manufacturing industries and accelerate their transition into digital commerce. Speaking at the launch event, Minister of Industry Melaku Alebel said the platform will play a crucial role in helping manufacturers source inputs more efficiently
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BusinessToday, Ethiopia marks a major milestone with the launch of M-PESA ለሁሉም (M-PESA LeHulum), a mobile money platform that works with any SIM card. The new service makes digital financial services accessible to all Ethiopians, breaking the barriers of network limitations and bringing more people into the digital economy. With M-PESA LeHulum, users can register
BusinessA China-based bank has pledged USD 500 million to support the development of the proposed Bishoftu International Airport, according to Ethiopian Airlines Group (EAG) CEO Mesfin Tasew Bekele. The announcement marks an important step forward for the multi-billion-dollar project, Ecofin Agency reported. Mesfin revealed the commitment in Rabat, Morocco, during the 2026 Africa Investment Forum.
BusinessEthio telecom has launched its third superfast electric vehicle (EV) charging station in Addis Ababa. The new station, opened today in the Summit Fyele Bet area, can charge 16 cars at the same time, boosting the company’s growing EV charging network. At the launch event, Ethio telecom’s CEO said the project reflects Ethiopia’s wider digital
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BusinessEthiopian conglomerate Ovid Holdings is exploring investment opportunities in Cameroon, according to the Cameroonian Chamber of Commerce, Industry, Mines and Crafts (Ccima). Founded in 2013 with a capital of $15 billion, Ovid Holdings is visiting Cameroon from November 23 to 28. The group is looking at sectors such as construction, mining, infrastructure, agribusiness, and real
BusinessEthiopia’s coffee industry is recording some of its best performance in years. New data shared at the National Coffee Exhibition and Recognition Program, held at the Science Museum in Addis Ababa, shows that coffee production, exports, and foreign-exchange earnings have all improved sharply. Top government officials, including Deputy Prime Minister Temesgen Tiruneh and Minister of
BusinessSafaricom Telecommunications Ethiopia PLC has appointed Ethiopian executive Ermias Eshetu as Chairman of its Advisory Board, the company said on Thursday, marking a significant step in its strategy to increase local leadership within the fast-growing telecom operator. Ermias, who became the first Ethiopian to join the Advisory Board in March 2025, assumed the chairmanship on
BusinessEthiopian Airlines has committed to purchase 11 additional Boeing 737-8 MAX aircraft, expanding the African carrier’s narrow-body fleet as it seeks to grow regional and international operations, the companies said on Monday. The agreement was signed at the Dubai Airshow and will support the airline’s long-term network and hub expansion strategy, Ethiopian Airlines Group CEO
BusinessKEFI Gold and Copper PLC said it is on track to begin construction at its Tulu Kapi gold project by the end of next year after securing key financing and reaching agreement with project partners. The company said its full development plan for the high-grade deposit has been approved by its syndicate, clearing the way
BusinessEthiopia will introduce a combined 30% tax on petroleum products next month, the Ministry of Finance said, as the government accelerates reforms to phase out long-standing fuel subsidies and boost domestic revenue. The new levy — made up of a 15% value-added tax and a 15% excise duty — will be collected by the Ethiopian
