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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.
Ministry 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
BusinessU.S. President Donald Trump has confirmed that Washington has agreed to a two-week suspension of planned military strikes on Iran. The pause follows high-level discussions involving Pakistan’s Prime Minister Shehbaz Sharif and Army Chief Asim Munir, who have played a central mediation role. The White House stated that Trump had been briefed on Pakistan’s ceasefire
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.
BusinessEthiopia has instructed non-essential civil servants and employees of state-owned enterprises to take annual leave, as authorities scramble to manage a worsening fuel shortage that has disrupted transportation nationwide. The directive, issued this week, aims to curb fuel consumption by reducing daily commuting, as diesel supplies have dwindled sharply across the country. Long queues stretching
