Starbucks Celebrates Ethiopia’s Coffee Heritage with New Single-Origin Release

Starbucks is spotlighting Ethiopia, the birthplace of coffee, with the release of its newest single-origin coffee. The Starbucks Single-Origin Ethiopia whole bean coffee, sourced from the Sidama region, is now available across North America this winter. This blonde roast offers a unique flavor profile, with floral aromas and notes of tangerine and lemon balm, celebrating the distinctive characteristics of Ethiopian coffee. Ethiopia’s coffee legacy is central to its economy and culture. As Africa’s largest coffee producer, the country plays a vital role in global coffee production, with nearly 25% of Ethiopians reliant on the crop for their livelihoods. The Ethiopian coffee ceremony, a centuries-old tradition, underscores the cultural importance of coffee as a symbol of hospitality and connection. Leslie Wolford, a Starbucks coffee developer, emphasized the importance of this new release: “The blonde roast really highlights the unique flavor range of Ethiopian coffee, enhancing the intrinsic origin flavors that we’re looking to bring forth.” The coffee bag’s design also honors Ethiopian traditions, featuring the Jebena, a traditional black clay coffee brewer central to the Ethiopian coffee ceremony. Behailu Gebremariam, General Manager of Starbucks’ Farmer Support Center in Addis Ababa, expressed pride in Ethiopia’s role in the global coffee scene. “Coffee is everything to me. From meeting farmers and learning from them to supporting coffee production, this is what makes me happy,” Gebremariam said. This launch also highlights the difference between single-origin and blended coffees. Single-origin beans, sourced from a specific region, allow unique flavors to shine, offering coffee enthusiasts a true taste of place. For many, Ethiopia’s coffee serves as an entry point to understanding and appreciating diverse coffee flavors. As Starbucks brings Ethiopian coffee to a global audience, the company continues to celebrate and honor the rich heritage and traditions of coffee in Ethiopia, cementing its place in the hearts of coffee lovers worldwide. […] Click here to read more […] I am very happy and grateful that Starbucks finally recognizes Ethiopia as the origin of coffee and the Ethiopian coffee as a brand coffee. I thank gratefully Starbucks for promoting the Ethiopian coffee in this manner. Save my name, email, and website in this browser for the next time I comment. Δdocument.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime())

Phoenix Group Signs 80MW Power Deal in Ethiopia to Expand Bitcoin Mining Operations

Abu Dhabi-listed blockchain and cryptomining conglomerate Phoenix Group (PHX.AD) has secured an 80-megawatt (MW) power purchase agreement (PPA) with Ethiopian Electric Power (EEP) as part of its global strategy to diversify operations. This milestone marks the company’s entry into the African market, with energy supplies expected to commence in the second quarter, according to a statement released on Wednesday. The agreement will power Phoenix Group’s bitcoin mining expansion in Ethiopia. While the exact location of the facility and financial terms were not disclosed, the project is being implemented in partnership with Abu Dhabi-based cybersecurity firm Data7. “We are aggressively building out our mining capabilities,” said Munaf Ali, CEO of Phoenix Group. He emphasized that this additional energy capacity will drive further growth as the company works towards a dual listing on Nasdaq. In a separate statement to Reuters, the company revealed ongoing discussions with financial institutions and Nasdaq, though no specific timeline for the listing has been provided. Phoenix Group operates mining facilities in multiple countries, including the UAE, the U.S., and Canada. Its shareholders include International Holding Company (IHC.AD), the largest listed firm in Abu Dhabi, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother of President Sheikh Mohammed bin Zayed. IHC’s diversified portfolio includes investments in agriculture, energy, and cryptomining. Beyond Ethiopia, Phoenix Group is exploring additional investment opportunities in Africa and assessing regions with robust energy potential. The company is also considering an expansion into South America, with Brazil highlighted as a potential market. This 80MW agreement underscores Phoenix Group’s commitment to leveraging global energy resources to enhance its bitcoin mining operations and establish a stronger foothold in new markets. […] Click here to read more […] Save my name, email, and website in this browser for the next time I comment. Δdocument.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime())

Koderlab: Empowering Ethiopia’s Next Generation of Digital Innovators

In a rapidly evolving digital world, the need to equip the next generation with tech skills is more urgent than ever. Koderlab, an innovative EdTech startup founded in September 2023, is redefining education in Ethiopia by empowering young learners with essential coding, digital literacy, and soft skills to prepare them for the challenges of tomorrow. At Koderlab, education is about more than academics—it’s about future-proofing children. With programs designed for students aged 6 to 18, Koderlab integrates coding into its curriculum, enabling kids to explore programming languages and develop real-world projects. From creating websites to designing robots, children learn to think critically and solve problems creatively. But it’s not all about tech. Koderlab also emphasizes teamwork, leadership, and communication, ensuring students are well-rounded and ready to thrive in collaborative and professional settings. Through hands-on learning, Koderlab’s programs are both fun and impactful. Students can build apps, games, and other tech solutions, instilling confidence and sparking a passion for innovation. In addition to coding, Koderlab teaches digital literacy, ensuring children understand how to safely and effectively navigate the digital landscape. What makes Koderlab stand out is its dual focus on technical and interpersonal skills. In an interconnected world, mastering coding isn’t enough—students also need to communicate effectively, collaborate, and lead. Koderlab nurtures these qualities through team projects, leadership opportunities, and problem-solving exercises, building a new generation of leaders who are ready to innovate. From its base in Ethiopia, Koderlab is extending its reach to students across Addis Ababa, Bahir Dar, Hawassa, and Nekemte, with online programs expanding into Kenya and Uganda. This growth has been significantly supported by Koderlab’s participation in the Mastercard Foundation EdTech Fellowship in partnership with Reach for Change, a program that has provided mentorship and resources to help scale its impact and reach. Koderlab isn’t just teaching coding—it’s shaping Ethiopia’s future by inspiring children to dream big and create impactful solutions for their communities. As the organization continues to grow, so will its influence, nurturing a generation of tech-savvy, confident, and innovative leaders. In a world where digital skills are no longer optional, Koderlab is a trailblazer, ensuring Ethiopia’s youth are prepared to lead. By combining technical knowledge with essential soft skills, Koderlab is empowering young people to innovate, lead, and make a difference. Koderlab is more than a classroom—it’s a launchpad for Ethiopia’s future. To learn more about the Mastercard Foundation EdTech Fellowship in partnership with Reach for Change visit: https://ethiopia.reachforchange.org/edtech-fellowship/

Ethiopian Airlines Honors Visionary Leaders Behind Its Success

Ethiopian Airlines, Africa’s largest and most successful airline, hosted a grand recognition and award ceremony to honor the distinguished former leaders who have significantly contributed to shaping its legacy. These leaders, who served as General Managers and CEOs, were instrumental in transforming Ethiopian Airlines into a globally recognized carrier. The honorees included Colonel Semret Medhane, Captain Zeleke Demessie,Dr Ahmed’s Kellow, Mr. Girma Wake, Mr. Bisrat Nigatu, and Mr. Tewolde Gebremariam. Each was celebrated for their visionary leadership and the invaluable contributions they made during their tenure. For nearly 78 years, Ethiopian Airlines has been a cornerstone of national and continental pride, delivering exceptional performance and unmatched service. This enduring legacy of excellence has been sustained through the dedication and resilience of its leaders and employees across generations. Ethiopian Airlines has consistently maintained its position as a leader in the aviation industry, with a vast network spanning five continents and a commitment to innovation, sustainability, and customer satisfaction. The airline’s success is not only a testament to its strategic vision but also a reflection of Ethiopia’s determination to achieve global recognition in aviation. The recognition of these outstanding leaders serves as a reminder of Ethiopian Airlines’ remarkable journey and the individuals who made it possible. With a firm foundation built on their efforts, Ethiopian Airlines continues to thrive, charting new paths in aviation and inspiring pride across Africa and the world.

Awash Insurance teams up with Safaricom to offer mobile money option

Clients of Awash Insurance will now be able to pay their premium dues and conduct other insurance-related transactions through Safaricom’s M-Pesa mobile money platform, as the two announce a strategic partnership. “This partnership presents a great opportunity for us to collaborate with Awash Insurance, a well-respected player in Ethiopia’s insurance sector. By integrating M-Pesa’s secure platform into the operations of Awash Insurance, we are simplifying the way businesses and customers interact, making mobile payments more accessible, efficient, and time-saving for everyone. We are confident this partnership will enable Awash Insurance to offer its customers a seamless experience for making insurance payments and streamline its operations by leveraging M-PESA’s mobile payment solutions,” said Elsa Muzollini, CEO of Safaricom M-Pesa. Jibat Faji, CEO of Awash Insurance, the country’s leading private insurer, said the partnership would make insurance services more accessible, efficient, and convenient for the firm’s clients. “Together, we are not just improving transactions; we are also contributing to the realization of Digital Ethiopia by fostering innovation and empowering our customers with the tools to secure their futures in a digitally connected world,” reads a statement from Jibat. The partnership is a major milestone for Safaricom’s venture into the Ethiopian market and represents a step up to its chief competitor in the mobile money industry: Ethio telecom’s Telebirr. M-Pesa went live in Ethiopia in August 2023, more than 15 years after it was first introduced to the Kenyan market.

TikTok Ban Threat: Will Ethiopian Creators Lose Their Diaspora

Potential Buyers Emerge Amid this uncertainty, there are reports of potential buyers for TikTok’s US operations. According to Bloomberg News, Chinese officials are considering Elon Musk, the CEO of Tesla and SpaceX, as a prospective buyer. Meanwhile, YouTube sensation MrBeast, known for his philanthropy and viral videos, has expressed interest in purchasing TikTok to prevent its removal. These developments have fueled speculation about the platform’s future and the broader implications for the global social media landscape. A Local Scene with Global ConnectionsWhile Ethiopian TikTok creators primarily cater to a local audience, their reach and financial support extend far beyond the country’s borders. A significant portion of their fanbase comes from the Ethiopian diaspora, particularly in the US. This group not only engages with content but also provides vital financial support through gifts, donations, and brand collaborations. For many creators, these diaspora communities are integral to their growth, visibility, and income. Financial Risks for Live StreamersLive streaming has become a cornerstone of content creation for many Ethiopian TikTokers, offering an interactive platform to connect with audiences. From late-night gaming sessions to comedic skits, these live streams rely heavily on the financial support of viewers abroad. If the US ban goes through, creators may lose access to a significant portion of their audience, resulting in reduced income and diminished growth opportunities. Minimal Impact on Verified CreatorsHermela Medfu, a prominent Ethiopian TikToker and winner of the 2024 Ethiopia TikTok Creative Award for Funniest Female Comedian, is optimistic about the platform’s potential challenges. “The TikTok Creator Fund, which pays based on engagement and views, is not widely accessible for Ethiopian creators since many haven’t verified their accounts,” she explains. Instead, creators generate income through brand collaborations and live streaming. Hermela believes this reliance on alternative revenue streams may cushion Ethiopian TikTokers from the full impact of the US ban. The Rise of Late-Night Live StreamingMany Ethiopian creators have embraced live streaming, particularly during late-night hours, to foster deeper connections with their audiences. Beyond the fun and games, these sessions are an opportunity to build trust, grow visibility, and secure financial support from viewers abroad. However, the absence of the US-based diaspora could significantly hinder these efforts, leaving many creators struggling to maintain their presence. Diversified Content StrategiesFor some, the potential ban poses less of a threat. “It won’t have any effect on us since we focus solely on brand collaborations,” said Kiduskal, a comedian on TikTok known for her engaging team-based content. This approach highlights the importance of diversifying income sources to reduce dependency on a single platform or audience segment. As the TikTok ban looms, many US users are transitioning to alternative platforms like Red Note, a Chinese app blending short-form video, e-commerce, and lifestyle content. While primarily popular in China, Red Note has gained traction among young Americans and Ethiopian diaspora users, who see the app as a viable alternative to sustain their connection with creators. With its unique mix of video-sharing, trending topics, and live-streaming sales, Red Note offers features that resonate with creators and audiences alike. The app’s rapid growth—700,000 new users in just two days—signals its potential as a replacement for TikTok if the ban materializes. Ethiopian Creators Exploring Alternatives Ethiopian creators are increasingly aware of the need to expand their presence beyond TikTok. Platforms like Instagram, YouTube, and now Red Note are seen as critical tools for maintaining audience engagement and financial stability. This shift not only helps safeguard their careers but also allows them to tap into new markets and opportunities. Hermela, reflecting on the potential ban, emphasizes the importance of adaptability in the fast-changing social media landscape. “TikTok is the most effective platform to quickly reach a wider audience and build fame,” she notes. However, she advises creators to avoid over-reliance on a single platform and to focus on authenticity and consistency as the foundation for long-term success. The potential TikTok ban in the US has sparked global discussions about digital platforms, privacy, and the role of social media in modern society. For Ethiopian creators, the stakes are high, but so are the opportunities to adapt, innovate, and thrive in an increasingly interconnected digital world. As new platforms emerge and audiences shift, the resilience and creativity of Ethiopian content creators will undoubtedly play a vital role in shaping their future success.

Ethiopia’s maiden stock exchange finally opens trading floor

Wegagen Bank among first to list Ethiopia’s long-anticipated stock exchange went live on Friday, marking a turning point for an economy struggling with low access to finance. Banking gurus, economists, and investors who have advocated for a stock market in past decades have hailed the inauguration of the Ethiopian Securities Exchange (ESX) as historic. Despite being home to one of the largest economies in Sub-Saharan Africa and the second-largest population on the continent, Ethiopia has not had a secondary market since the socialist Derg regime shuttered a rudimentary securities exchange that opened in the final decades of the Imperial era. Plans to revive the secondary market began to gather pace following the political upheaval of 2018, which marked the start of an economic liberalization process that was off the table under EPRDF administration. Major preparational work like establishing the Ethiopian Capital Market Authority and ratification of institutional and legal frameworks were finalized over the last two-and-a-half years. Although the stock market’s inauguration has been delayed several times, the ESX floor finally opened this week. Officials want to see ESX host at least 90 initial public offerings (IPOs) in the coming years. Shares, equity, and debt securities will be traded on the platform. Banks, state-owned enterprises (SOEs) and other eligible firms are eligible to list. Wegagen Bank has become among the first to offer equity on ESX, sources told The Reporter. Ethio telecom’s 10 percent stake offering is slated to go live on ESX, while at least four other SOEs under the Ethiopian Investment Holdings (EIH) are also expected to list. The inauguration ceremony on Friday was organized by the Office of the Prime Minister and saw the attendance of Abiy Ahmed and other senior officials. The ceremony was closed to mainstream media, and attendees were prohibited from taking photos or recording videos. “In a historic milestone for our economic and financial landscape, we have officially rung the bell to launch the Ethiopian Securities Exchange, the first stock exchange for our country. Invest in Ethiopia, a fast-growing economy with immense potential and a dynamic trajectory toward prosperity,” reads a social media post from the PM. During the ceremony, he said that “investors should not worry. The government has many giant state enterprises. In the past couple of years, we have undertaken serious preparations in order to launch a successful stock exchange and avoid any chance of failures.” Tilahun Kassahun, CEO of the Exchange, stated the market would not have been realized without the economic reforms of the past few years, as well as the launch of the digital National ID. The banking industry is likely to be the first to brave the new market. An estimated 400,000 shareholders hold equity in the country’s commercial banks, and they will now be able to sell and buy shares on ESX at any time. Companies also will be able to issue debt securities, which so far have been limited to treasury bonds issued by the National Bank of Ethiopia (NBE). Regulators have been busy digitizing existing equity and stock records, which should be accessible in real time via the ESX platform. The stock exchange is Sharia-compliant, with products like sukuk. It will be the third-largest sharia compliant stock exchange in Africa, according to Tilahun. “We will reach the milestone that stock exchanges like those of Nigeria and Egypt achieved in a short time,” added Tilahun.

Railway Corp seeks int’l partners to resume stalled Awash-Hara Gebeya project

Arbitration case with Turkish contractor remains unsettled The Ethiopian Railways Corporation (ERC) has invited international bidders to submit expressions of interest for the resumption of a rail project that is at the heart of a heated arbitration case with a Turkish contractor. The Corporation has set January 14, 2025, as the deadline for a tender for consultancy services for loss assessment and resumption of construction work on the Awash-Kombolcha-Hara Gebeya (AKH) rail project. Bidders will have to submit half a million birr as a security deposit. The 392-kilometer AKH rail project kicked off in 2015 with USD 1.7 billion in financing from the state-owned Turk Exim Bank. Systra MD, a French firm, was awarded the contract for consulting on the project, while Yapi Merkezi, a Turkish contractor, was in charge of the construction work. The railway project connecting central and northern Ethiopia features 10 substations, a dozen 10-kilometer long tunnels, more than 50 bridges, eight power stations, a dozen radio stations, and one primary workshop center, according to the website of the state-owned ERC. The project was making progress until war broke out in northern Ethiopia in November 2020, and the contractor subsequently abandoned the project on grounds of safety concerns as the two-year armed conflict raged near some of the project sites. Yapi Merkezi alleges that part of the infrastructure was damaged by the fighting, and some of the equipment had been looted. Following the war, Yapi Merkezi reportedly attempted to take the case to court, claiming half a billion dollars in damages and compensation incurred as a result of the fighting and subsequent delays. However, the Ethiopian government persuaded its executives to resolve the case through arbitration instead. The case went to the London Court of Arbitration, where proceedings have been underway for the past year. Last month, the Corporation’s attorneys demanded USD 1.6 billion in compensation for losses incurred as a result of the contractor abandoning the project. The case is still ongoing, although ERC executives told The Reporter they expect a verdict in the coming weeks. ERC has also floated a tender inviting international bidders to submit Expressions of Interest (EOI) with proposals for a joint investment partnership to develop a multi-purpose complex building project in Addis Ababa.

NBE pauses independent forex bureau licensing pending evaluation

Five firms licensed in October Regulators at the National Bank of Ethiopia (NBE) are no longer processing license requests for new applicants seeking to get involved in the forex trading business. In early October 2024, the central bank announced it had issued licenses to five independent foreign exchange bureaus in a bid to undercut the parallel market following the floating of the currency a few months prior. Dugda Fidelity Investment PLC, Ethio Independent Foreign Exchange Bureau, Global Independent Foreign Exchange Bureau, Robust Independent Foreign Exchange Bureau, and Yoga Forex Bureau were the recipients. Regulators are evaluating how the five firms are performing before proceeding to process applications for new licenses, according to Yenehassab Tadesse, director of forex monitoring and reserve management at NBE. “We have to evaluate the performances of the five licensees before issuing additional licenses,” she told The Reporter. “Licensing will continue. But, since the market is a new trend, we have to evaluate the trend before flooding the market with more licenses.” October’s licenses marked the first time in decades that non-bank entities were allowed to get involved in forex. Analysts see the prior limitations as a factor for the proliferation of parallel market operators. The bureaus are now buying and selling forex based on market prices determined against a basket of foreign currencies. Yenehassab did not indicate when the central bank would begin accommodating requests for new licenses. The NBE directive governing the licensing process obliges applicants to have at least 15 million birr in capital and to provide a security deposit of 30 million birr to be held in a blocked account, which can be interest-earning. An established business entity, set up in whatever legal form and owned by an Ethiopian national, non-resident Ethiopian, or a foreign citizen of Ethiopian origin is eligible for the license.