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BusinessRide-hailing company Yango has expanded its operations to Hawassa, becoming the first city outside Addis Ababa to host the service in Ethiopia. The company announced that users in Hawassa can now access transport services through its mobile application, including tuk-tuks (locally known as Bajaj), four-wheeled Bajaj vehicles, and motorcycle taxis. To encourage early adoption, Yango
BusinessAfrica Finance Corporation (AFC) has successfully raised a record $2 billion syndicated loan, marking the largest syndicated financing transaction in the institution’s history and highlighting strong international investor confidence in Africa’s long-term infrastructure growth story. The facility was upsized from an initial target of $1.6 billion following strong demand from global lenders. According to AFC,
BusinessSafaricom Ethiopia is negotiating a new local-currency financing facility of between $100 million and $150 million with the International Finance Corporation (IFC), as the telecom operator seeks to accelerate network expansion while reducing its exposure to Ethiopia’s foreign exchange risks. The discussions come at a time when domestic lending restrictions are limiting access to large-scale
BusinessThe National Bank of Ethiopia (NBE) has introduced a new directive governing imports made under the Franco Valuta system, aiming to modernize the framework and strengthen oversight of foreign currency-free imports. The directive officially took effect on May 29, 2026. Franco Valuta refers to the importation of goods without using foreign exchange obtained from Ethiopia’s
BusinessEthio telecom and the African Development Bank are advancing discussions on major strategic financing and infrastructure partnerships aimed at accelerating Ethiopia’s digital transformation agenda. During a high-level meeting held on May 21, Ethio telecom CEO Frehiwot Tamru and AfDB Vice President Solomon Quaynor reviewed ongoing collaboration tied to Ethio telecom’s “Next Horizon: Digital & Beyond
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BusinessAliko Dangote visited the construction site of a fertiliser plant in Gode, in Ethiopia’s Somali region, this weekend alongside Prime Minister Abiy Ahmed, and used the occasion to announce a significant expansion of his group’s commitment to the country. The Dangote Group’s total investment in Ethiopia has now risen from $2.5 billion to more than
BusinessUganda Airlines has officially welcomed the first of two newly leased aircraft into its fleet, marking a strategic move to address growing capacity constraints and strengthen regional operations. The airline announced the arrival of a Boeing 737-800 aircraft registered as ET-APJ, becoming the first phase of a short-term fleet expansion program aimed at supporting increased
BusinessA coalition of U.S. solar manufacturers has asked the U.S. Department of Commerce to investigate solar panel imports from Ethiopia, alleging that Chinese-linked companies are using the country to bypass existing American tariffs on Chinese solar products. According to a filing submitted Tuesday, the group claims that Japan-based Toyo and Origin Solar Manufacturing are importing
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
BusinessFuel 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
