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BusinessIn a major step toward ensuring agricultural self-sufficiency and reducing reliance on fertilizer imports, Ethiopia is set to sign a landmark agreement with Nigerian billionaire and industrialist Aliko Dangote to build a fertilizer factory in the Somali Regional State, Gode area. Prime Minister Abiy Ahmed (PhD) announced that the $3 billion deal will be formalized
BusinessEthiopia has received a record $5.1 billion in remittances in the first nine months of the current fiscal year, according to the Ethiopian Diaspora Service (EDS) — a milestone that underscores the vital role the Ethiopian diaspora continues to play in supporting the country’s economy amidst ongoing reforms. The announcement was made by Wondwosen Terefe,
In a decisive policy shift, the Ethiopian government has officially ended its longstanding fuel subsidy, fully liberalizing fuel prices to reflect international market rates. The Ministry of Trade and Regional Cooperation confirmed that gasoline and jet fuel prices were deregulated as of May 9, 2025, followed by diesel on June 4, 2025. The reform marks
BusinessEthiopia has launched a comprehensive portfolio of investment projects valued at more than $13 billion, signaling a major push to attract private capital across agriculture, energy, manufacturing, finance, and infrastructure. The pipeline, outlined in the newly released “Invest in Ethiopia 2025” Deal Book, includes dozens of projects positioned as “investment-ready,” with financing models ranging from
EconomyRecord Budget Proposal Presented to Parliament Ethiopia’s House of People’s Representatives began deliberations on the draft budget for the 2025/2026 fiscal year during its 35th regular session. Finance Minister Ahmed Shide presented a record ETB 1.93 trillion budget, marking a 34% increase from the previous year. The minister attributed this ambitious figure to significant economic
Economy2018 Federal Budget Approval During its 47th regular meeting on May 28, 2025, Ethiopia’s Council of Ministers reviewed and approved the draft budget proclamation for the 2018 fiscal year (Ethiopian Calendar). The budget, nearing two trillion birr, was prepared based on the Ten-Year Development Plan, the 2018-2022 Medium-Term Macroeconomic and Fiscal Framework, and an evaluation
EconomyLoan Agreement with Arab Bank for Youth Employment During its regular session on June 3, 2025, Ethiopia’s House of People’s Representatives (HPR) approved a loan agreement with the Arab Bank for Economic Development in Africa (ABEDA). The agreement provides $49.55 million in financing to support integrated agricultural industrial parks and create job opportunities for the
EconomyStaff-Level Agreement on ECF Review The International Monetary Fund (IMF) and Ethiopian authorities have finalized a staff-level agreement on the third review of the four-year $3.4 billion Extended Credit Facility (ECF) arrangement. Upon approval by the IMF Executive Board, Ethiopia will access approximately $260 million in financing, bringing the total disbursed under the ECF to
EconomyEconomic Roadmap for the Next Five Years During its 46th regular session, Ethiopia’s Council of Ministers gave the green light to a five-year economic and fiscal plan spanning 2026 to 2030. This roadmap is designed to steer the nation’s budgeting and policy efforts, focusing on boosting government income, managing public spending responsibly, and fostering a
EconomyWhat if your ID wasn’t just a plastic card you forget at home before every important errand—but a key to unlock financial services, social benefits, and even a better-functioning government? Well, Ethiopia is making that dream real, and the rest of Africa is taking notes. The country just launched its first-ever #ID4Africa forum, a three-day
Banking & FinanceEthiopian Investment Holdings (EIH) has achieved a significant milestone by participating in the recent Treasury Bills (T-bills) auction, a move that aligns with the National Bank of Ethiopia’s initiative to broaden access to the T-bills market by including non-bank investors such as institutions and retail participants. The auction marks a pivotal step in Ethiopia’s efforts
EconomyEthiopia just wrapped up its Invest in Ethiopia High-Level Investment Forum 2025 with a bang — securing over 1.6 billion USD in investment commitments and sending a clear message: the country is open for business, and it’s not playing small. The two-day forum, held in Addis Ababa, brought together heavyweight investors, top government officials, and
