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EconomyEthiopia’s inflation rate climbed back into double digits in April 2026, underscoring renewed pressure on household budgets as rising food and fuel prices combined with global supply disruptions to test the country’s recent progress in stabilizing prices. Headline inflation rose to 11.7 percent in April, up from 9.4 percent in March, according to the latest
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
The Ministry of Finance Ethiopia has announced a decision to restore the country’s daily diesel supply to 9 million liters, returning to levels maintained before disruptions caused by the Middle East conflict. The announcement was made by Finance Minister Ahmed Shide, who noted that the war in the Middle East had led to a surge
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
EconomyEthiopia’s Council of Ministers has approved draft proclamations for two major loan agreements totaling €190 million, aimed at supporting the country’s economic reform agenda and expanding access to microfinance. In its 54th ordinary meeting, the Council endorsed an €80 million loan from the French Development Agency to support the National Economic Reform Plan, alongside a
EconomyThe Democratic Republic of Congo is projected to surpass Ethiopia to become sub-Saharan Africa’s fifth-largest economy in 2026, according to the International Monetary Fund. IMF estimates place Congo’s gross domestic product (GDP) at $123 billion, slightly ahead of Ethiopia’s projected $122 billion. South Africa is expected to remain the region’s largest economy, followed by Nigeria,
Banking & FinanceThe Ministry of Finance has issued a new directive allowing investors operating in free trade zones to benefit from income tax exemptions on earnings generated from imported goods they sell. The decision, addressed to the Ministry of Revenue and the Ethiopian Investment Commission, is grounded in Article 12(1) of Council of Ministers Regulation No. 586/2018
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
EconomyThe National Bank of Ethiopia (NBE) and the People’s Bank of China (PBOC) have agreed to deepen strategic financial cooperation to boost trade, investment, and digital finance. During a meeting in Beijing on April 2, NBE Governor H.E. Eyob Tekalign and PBOC Governor H.E. Pan Gongsheng discussed establishing bilateral swap lines and trade financing facilities
BusinessEthiopia pulled in $6.76 billion in export revenue in the first eight months of the current fiscal year. That is a $2.4 billion jump from the same period last year and a figure the government is calling unprecedented in the country’s history. “This year’s eight-month revenue is unprecedented in the history of Ethiopia,” Minister of
BusinessA 180,000 metric ton oil shipment destined for Ethiopia has been disrupted by the Middle East conflict, as the closure of the Strait of Hormuz and collapsing production in war-torn nations sent global crude prices surging threefold. “The problem is not limited to the closure of the Strait,” Minister of Trade and Regional Cooperation Dr.
