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BusinessSafaricom Ethiopia Telecommunications PLC delivered one of its strongest performances yet in the 2025/26 financial year, posting rapid customer growth, surging revenues, and sharply narrowing losses as the telecom operator moves closer to a profitability inflection point. The company’s revenue rose 58.3 percent year-on-year to KShs 14.1 billion, underscoring the pace at which the business
BusinessVisa has inaugurated a new office in Addis Ababa, signaling a deeper commitment to Ethiopia and a broader strategic push across Eastern Africa. The new office marks a significant milestone for Visa, which has maintained a presence in Ethiopia for several years but is now scaling up its operations as the country’s financial sector continues
Fuel prices across Ethiopia have been revised upward following a new adjustment linked to global oil market trends, according to information confirmed by Tikvah Ethiopia and fuel station operators. Under the updated pricing structure, white diesel is now retailing at 180.46 birr per liter, while gasoline has risen to 167.50 birr per liter. The changes
BusinessEthiopian Airlines has been named Best Airline in Africa at the 2026 APEX Passenger Choice Awards, reinforcing its position as a leading carrier on the continent and a preferred choice among global travelers. The recognition is based entirely on independently verified passenger feedback, making it a direct reflection of customer satisfaction and trust. Organized by
BusinessDashen Breweries SC has announced the appointment of Mathias Getachew as its new Chief Executive Officer (CEO). The decision follows an extensive global search aimed at identifying a leader to guide the company into its next phase of growth. The appointment marks a notable milestone, as Mathias becomes the first Ethiopian to lead a major
BusinessEthiopian Airlines and Visa have announced an expanded collaboration aimed at growing co-branded payment card offerings and enhancing the travel payment experience for customers. The agreement builds on a long-standing relationship between the two organizations and is designed to promote seamless, secure, and rewarding payment solutions for travelers, while supporting Ethiopian Airlines’ broader growth strategy.
BusinessMinistry of Revenue has announced that it collected 1.1 trillion birr in tax revenue over the first nine months of the current fiscal year, highlighting strong performance while acknowledging persistent structural challenges in the country’s tax system. The announcement was made during a high-level forum organized by the Ministry to review progress on its nine-month
BusinessEthiopia has secured more than $170 million in new agricultural financing through two major agreements involving the European Investment Bank Global, Development Bank of Ethiopia, and Zemen Bank, signaling a coordinated push to strengthen export capacity, expand financial inclusion, and support climate-resilient agriculture. The largest share comes from a $129.5 million (€110 million) financing facility
BusinessOil prices fell sharply after Iran announced that the Strait of Hormuz would remain fully open to commercial shipping throughout the ceasefire period. Brent crude dropped to around $88 per barrel, down from above $98 earlier in the day. The strategic waterway, linking the Gulf to the Arabian Sea, handles roughly 20% of global oil
BusinessRussia-based e-commerce giant Wildberries has appointed Biruk Genene as its country manager for Ethiopia, marking a key step in the company’s first expansion into Africa. The move signals Wildberries’ intent to use Ethiopia as a strategic entry point beyond its traditional Eurasian markets, testing how its large-scale digital commerce model performs in a frontier economy.
Banking & FinanceDestta, a U.S.-registered fintech company, has officially launched the beta version of its global remittance platform in Ethiopia, positioning itself to capture a growing share of diaspora inflows through formal financial channels. Speaking at the launch event held at Hyatt Regency Addis Ababa, Founder and CEO Dawit Berhanu emphasized the platform’s broad transaction capability, enabling
BusinessEthiopia is accelerating a major transformation in its state-owned enterprises (SOEs), shifting from a focus on risk management to unlocking economic opportunities, according to the World Bank Group. The transition is already showing tangible results. In the first nine months of the 2024/2025 fiscal year, federal SOEs contributed 600 million USD in taxes and 120
