Trump Launched Corridor Inspired Project in DC, Echoing Addis Ababa’s

Trump Launched Corridor Inspired Project in DC, Echoing Addis Ababa’s Washington, D.C. is set for a dramatic makeover as Donald Trump pushes a $2 billion beautification plan for the U.S. capital. While modeled partly on his luxury golf courses, the initiative draws striking parallels with Addis Ababa’s Corridor Project, which reshaped Ethiopia’s capital into a showcase of modernity and political power. Trump’s $2 Billion Vision The plan covers a three-mile radius around the Capitol and White House. Roads will be resurfaced, parks renovated, and new lighting systems installed, with a one-year completion target. Trump described it as a project to make Washington “a national club of beauty,” signaling his desire to redefine the city’s image. Addis Ababa’s Corridor Blueprint Ethiopia’s Corridor Project, stretching from Bole International Airport to Meskel Square, transformed Addis Ababa into a diplomatic stage for Africa. With green medians, fountains, and widened roads, the project wasn’t just about traffic flow—it was about projecting prestige, order, and global status. Politics of Beautification Both projects highlight how infrastructure doubles as political branding: Addis Ababa: The corridors symbolized government authority and aspirations for global leadership. Washington, D.C.: Trump’s plan functions as a corridor of power, aiming to assert control and reshape the capital’s identity. Critics note that such beautification efforts often prioritize image over substance, raising concerns about cost, displacement, and neglect of deeper urban challenges. From Addis to DC: A Shared Strategy Trump’s Washington vision mirrors Addis Ababa’s playbook: rapid transformation, aesthetic prestige, and symbolic control over space. Both projects are less about roads and grass—and more about the politics of visibility. In short, Trump’s “corridor” echoes Addis Ababa’s own experiment: cities remade not just for function, but for power, pride, and political performance.

Federal Housing Corporation Posts 9.34B Birr Earnings, Surpassing Targets

Federal Housing Corporation Posts 9.34B Birr Earnings, Surpassing Targets Ethiopian Investment Holdings (EIH) has launched a review of the Federal Housing Corporation (FHC), following a year of record-breaking results and renewed ambitions for the state-owned enterprise. In the past fiscal year, the FHC achieved 9.34 billion birr in revenue, which is 155% of its provisional annual target—a remarkable over-performance that underscores the growing role of housing and property management in Ethiopia’s public sector economy. Operationally, the corporation also exceeded key benchmarks: Housing allocation: Achieved 101% of its target, ensuring more Ethiopians gained access to public housing. Maintenance services: Reached 99% of its planned works, reflecting progress in improving the livability of existing units. Construction materials production: Expanded its role in local supply chains by manufacturing materials for infrastructure and housing projects. On the foreign currency front, FHC generated USD 1.36 million in income, representing a 30% increase compared to last year—an important contribution at a time when Ethiopia faces ongoing forex shortages. Focus on Modernizing Asset Management Looking ahead, the Corporation is prioritizing modernization of its property and asset management systems. Among the strategic actions under consideration are: Stronger rental leasing agreements to enhance transparency and improve revenue collection. Upgraded contract administration to reduce inefficiencies and enforce compliance. Targeted marketing strategies to raise visibility and attract new tenants or investors. Project finance opportunities to mobilize capital for large-scale development. By improving management practices, FHC aims to not only boost revenue but also extend the lifespan and value of its housing stock. Strategic Outlook: Feasibility and Expansion EIH’s review highlights that the next phase will depend on feasibility studies to identify investment opportunities and optimize the Corporation’s real estate portfolio. These studies are expected to guide long-term planning, enabling FHC to adapt to Ethiopia’s fast-changing urbanization trends and housing demand. The renewed focus comes at a critical juncture. As Ethiopia pushes forward with its economic reform agenda, the housing sector is emerging as both a social necessity and a financial engine. FHC’s performance suggests that with strategic reforms, the Corporation could transform into a key player in easing urban housing shortages while generating sustainable public revenue.

Security Forces Cancel Ashenda and Shadey Festivals in Addis Ababa Without Explanation

Security Forces Cancel Ashenda and Shadey Festivals in Addis Ababa Without Explanation Ashenda, Shadey, and Solel: A Celebration of Womanhood in EthiopiaAshenda, Shadey, and Solel are regional names for a cherished annual festival in Ethiopia dedicated to celebrating girls and young women. Rooted in Orthodox Tewahedo traditions and cultural heritage, the festival is a vibrant display of music, dance, and community spirit. It is one of the few occasions where young women occupy public space freely, expressing joy and cultural pride. The celebration usually follows the “Filseta” fast in late August and is widely seen as both a spiritual and cultural event. This year, however, Addis Ababa’s festivities faced unexpected disruption. Sudden Cancellations in Addis Ababa On Saturday, security forces abruptly cancelled Ashenda and Shadey events scheduled in several venues across Addis Ababa, particularly in the Bole area. Organizers were reportedly told to halt preparations, while girls and young women who had gathered in their festive attire were instructed to leave. No official explanation has been provided. For many residents, the move came as a shock—especially in the capital, where Ashenda celebrations have grown in visibility in recent years and attracted diverse audiences. TikTok Videos Capture Pain and Disappointment The cancellations quickly made their way to social media. Several TikTok videos show groups of women being escorted out of festival venues by security officers. In some clips, girls can be seen leaving in tears, sharing feelings of sadness and frustration. Participants voiced their disappointment, explaining how they had spent weeks preparing—braiding their hair, rehearsing songs, and sewing dresses—only to have the event shut down without warning. Their testimonies highlight how deeply Ashenda is tied to personal and collective identity, making the cancellation feel like more than just an inconvenience. The Irony of Prosperity Party’s Award to Abiy What has deepened public frustration is the political irony. Only weeks ago, Prime Minister Abiy Ahmed was awarded by his own Prosperity Party for championing women’s empowerment and leadership. Yet the same ruling party’s security forces oversaw the cancellation of one of the most visible cultural platforms celebrating young women. For many, this contradiction exposes the gap between official rhetoric and lived reality. Speeches and awards may praise empowerment, but shutting down Ashenda in the capital undermines the very women such recognition claims to uplift. More Than a Festival Ashenda, Shadey, and Solel are more than colorful traditions. They are moments of visibility, empowerment, and cultural continuity for Ethiopian women. Cancelling them without dialogue not only undermines tradition but risks alienating the very voices the government claims to elevate. Despite the restrictions, small groups of young women were still seen celebrating informally in neighborhoods—a quiet act of resilience that shows the spirit of Ashenda cannot be easily extinguished. For Addis Ababa, and especially for the girls of Bole who prepared with anticipation, this year’s cancellations will be remembered as a painful reminder of the distance between promise and practice when it comes to women’s empowerment.

Ethiopia’s Largest Gold Mine Set to Launch in 2026

Ethiopia’s Largest Gold Mine Set to Launch in 2026 Ethiopia is on the verge of becoming one of Africa’s newest large-scale gold producers with the launch of the Kurmuk Gold Mine Project in Benishangul-Gumuz. Backed by an investment of around $500 million, the project is set to deliver first gold by mid-2026 and could dramatically reshape Ethiopia’s mining landscape. A Game-Changer for Ethiopia Kurmuk will be the country’s first industrial-scale gold mine, moving beyond small-scale and artisanal production. Operated by Allied Gold, with the Ethiopian government holding a 7% stake, the mine is positioned to deliver both strong export earnings and vital fiscal revenues. With production targeted at ~290,000 ounces per year in its first five years, Ethiopia is expected to join Africa’s mid-tier gold producers almost overnight. The Numbers Behind the Project Investment: ~$500 million in two phases Production: 290,000 oz/year (first five years); >240,000 oz/year life-of-mine Cost efficiency: All-in sustaining costs below $950/oz, thanks to a $0.04/kWh hydropower deal Mine life: Initially 10 years, with expansion potential The mine will draw on two open pits, Dish Mountain and Ashashire, feeding a 6 million tonne per year processing plant. Economic Impact Hard Currency Boost At gold prices of $2,000–$2,300 per ounce, Kurmuk could bring in $580–$670 million in annual export revenues—a massive inflow of foreign exchange for Ethiopia. Government Revenues The state will benefit from royalties, profit shares, and taxes, adding up to an estimated $100–$150 million annually, alongside dividends from its equity stake. Jobs and Local Development The mine is expected to create 1,500 direct jobs at peak, plus thousands more indirectly through contractors, suppliers, transport, and services. Allied Gold has already spent over $100 million locally in 2024, highlighting the scale of domestic economic activity tied to the project. Power Infrastructure Legacy The project’s new 75 km transmission line will not only supply the mine but also strengthen the grid around Asosa, leaving lasting benefits for surrounding communities. What’s Next Construction is underway, with civil works, camp building, and contractor mobilization progressing. Mining is set to ramp up in mid-2025, paving the way for first gold by mid-2026. The Bottom Line Kurmuk Gold Mine is more than just a mining project—it’s a national economic milestone. By 2026, it could transform Ethiopia into a serious player in the African gold sector, delivering foreign currency stability, government revenues, jobs, and infrastructure. If execution stays on schedule, Kurmuk will stand as a showcase of how large-scale mining can fuel Ethiopia’s growth story.

Ethiopia Pauses Plan to Sell 35% of Ethio Telecom Shares

Ethiopia Pauses Plan to Sell 35% of Ethio Telecom Shares The Ethiopian government has shelved its plan to sell 35% of Ethio Telecom to foreign investors, stalling a key step in the country’s much-publicized economic reform program. According to sources, the share sale will not take place in the near future. Authorities are also reassessing how potential domestic shareholding might influence future privatization. For now, there are no plans to sell additional stakes—either to foreign companies or local investors. Ethiopia’s Telecom Privatization Drive For decades, Ethio Telecom operated as a state monopoly, serving over 60 million subscribers and ranking among Africa’s largest telecom firms. However, Ethiopia’s leadership identified telecom liberalization as central to its broader Homegrown Economic Reform Agenda, launched in 2019 to attract foreign investment and modernize key sectors. In 2021, the government awarded a new telecom license to Safaricom Ethiopia, a subsidiary of Kenya’s Safaricom PLC and part of the Vodacom–Vodafone group. The license, valued at $850 million, represented Ethiopia’s first-ever foreign investment in telecoms. Safaricom has since expanded rapidly, rolling out mobile money (M-Pesa) and competing directly with Ethio Telecom in voice and data services. The government simultaneously announced its intention to partially privatize Ethio Telecom by selling 35% of shares to a strategic foreign partner. The goal was to boost efficiency, attract expertise, and generate foreign currency to ease Ethiopia’s chronic forex shortages. Why the Sale is Delayed Several factors appear to be behind the freeze: Macroeconomic pressures: Ethiopia faces inflation, debt challenges, and foreign exchange shortages, making investor appetite more cautious. Political instability: Conflicts in different regions have dampened investor confidence in large-scale state asset acquisitions. Safaricom’s rollout: With Safaricom Ethiopia still in its early expansion phase, regulators may want to observe market dynamics before opening Ethio Telecom further. Domestic shareholding debate: Authorities are still discussing how potential local investment in Ethio Telecom would impact valuation and future foreign sales. What This Means for Ethiopia’s Telecom Future By halting the sale, the government signals a slower, more cautious approach to privatization. Ethio Telecom will remain fully state-owned in the near term, even as Safaricom’s arrival has transformed Ethiopia’s telecom landscape. Ethio Telecom has responded to competition with price cuts, new data packages, and the Telebirr mobile money platform, which already boasts over 30 million users. Safaricom Ethiopia, meanwhile, has attracted millions of subscribers since launching, betting big on mobile money adoption to replicate its Kenyan success. For consumers, competition has driven lower costs, better service, and more digital options, though Ethiopia’s telecom penetration still lags regional averages. The Road Ahead Ethiopia’s telecom sector remains one of Africa’s most promising, given its population of over 120 million and rapidly growing digital economy. But the latest move shows that the government is recalibrating its reform pace, balancing the need for foreign investment with political, economic, and social considerations. For now, Ethio Telecom stays in state hands, while Safaricom Ethiopia continues to scale up. How the government manages this balance will determine whether Ethiopia can fully unlock its digital transformation ambitions.

Ethiopian Airlines Expands Nigeria Operations with 33 Weekly Flights

Ethiopian Airlines Expands Nigeria Operations with 33 Weekly Flights Adds New Evening Service from Abuja Starting October 28 Ethiopian Airlines is ramping up its Nigeria operations with three additional weekly evening flights from Abuja, bringing its total to 33 weekly flights across the country. The new schedule begins October 28, 2025, and will increase Abuja services to 10 flights per week. According to Firiehiwot Mekonnen, Ethiopian Airlines’ Area Manager for Nigeria, the evening flights will depart Abuja at 10 p.m. and arrive in Addis Ababa by 5 a.m., giving passengers smoother connections to destinations across Africa, the Middle East, and Asia. “These new flights mean faster travel times and more convenient connections,” Firiehiwot said. Passengers on select routes—including Dubai, Mumbai, Delhi, and Hyderabad—will also enjoy extra baggage allowance and double mileage points. Ethiopian Airlines has been operating in Nigeria since 1960 and currently flies to Lagos (14 weekly), Abuja (10 weekly), Kano (6 weekly), and Enugu (3 weekly) using its modern Airbus A350-1000s and Boeing 787 Dreamliners. With this expansion, the airline strengthens its position as Africa’s leading carrier, offering more flexibility and value for Nigerian travelers. #EthiopianAirlines #Nigeria #AbujaFlights #AviationNews #TravelAfrica

Businesses Warn USD Shortages Threaten Operations Despite Bank Allocations

Businesses Warn USD Shortages Threaten Operations Despite Bank Allocations Despite Ethiopian banks nearly doubling foreign currency allocations compared to last year, businesses continue to face severe U.S. dollar shortages that threaten daily operations and investment plans. Earlier this week, most commercial banks reported stronger allocations. Awash Bank earmarked $110 million for August, while Dashen Bank disbursed $11 million in the first six days. On August 16, the Commercial Bank of Ethiopia cleared pending applications worth $420.4 million. Banks insist that individuals, importers, and service providers can access foreign exchange for legitimate business and travel purposes. Overall, monthly disbursements have doubled from a year ago, reaching roughly $500 million, according to the National Bank of Ethiopia (NBE). Yet businesses say the numbers offer little relief. An auto importer, speaking on condition of anonymity, warned that ongoing scarcity may soon force him to shut down operations. “The lack of hard currency has made the import business extremely tough,” he said. Some business owners accuse banks of prioritizing profit over practical solutions. “They focus more on marketing than on supporting actual business needs,” the importer added, noting that some bank employees are returning to informal brokerage—earning up to 7 birr per U.S. dollar by linking clients with exporters. The NBE recently injected $150 million into the banking system through a large forex auction and pledged stricter enforcement against illicit trading. Officials also claim that structural barriers—such as delayed approvals and high deposit requirements—that once drove businesses to the parallel market are being dismantled. “Banks are likely to prioritize foreign currency allocations as they roll out digital core banking systems and import capital-intensive goods,” said Ameha Teferra (DBL), a researcher and seasoned economist. “They are also channeling more funds toward economically strategic sectors, particularly value-added imports favored by the central bank.” A banker, who requested anonymity, told Addis Insight that the reported allocations reflect requests submitted over the past five months. He noted that the ongoing forex crunch is drawing employees back into brokerage roles, bridging the gap between high demand and cautious supply. “Even banks negotiate behind the scenes; the posted rate is hardly the full story,” he said. Last year, the NBE shifted a significant share of the country’s forex allocation for fuel imports to private banks—a role previously reserved for the state. As a result, banks say much of their current allocations go to the energy sector. Awash Bank reported that of the $125 million it disbursed in July, more than $70 million was spent on fuel imports, while $55 million covered other strategic commodities. Dashen Bank supplied $112.6 million in July, with $33.9 million financing fuel purchases and $73.1 million covering consumer goods. “We floated the birr without preparation,” Dr. Ameha warned. “Economic principles require preconditions. Before liberalizing the currency, productivity and efficiency should have been strengthened.” He cautioned that without improvements in domestic output, liberalization risks worsening shortages. “With banks focused more on profit maximization, rates will escalate and the burden will fall on households that rely on imported goods,” he said.

Telebirr Transactions Reach 2.38 Trillion Birr as Ethio Telecom Revenue Jumps 72% in 2017 EFY

Telebirr Transactions Reach 2.38 Trillion Birr as Ethio Telecom Revenue Jumps 72% in 2017 EFY Ethiopian Investment Holdings (EIH) opened its 2017 Ethiopian fiscal year (EFY) annual performance dialogue with a detailed review of Ethio Telecom’s impressive results, spotlighting the state-owned operator’s strong growth and expanding role in the country’s digital economy. Strong Operational and Financial Growth Ethio Telecom delivered solid year-on-year performance, underlined by a 6% increase in subscriptions and an EBITDA margin of 47%—a healthy profitability level for the sector. The company’s revenue surged by 72%, signaling continued resilience despite intensifying competition and ongoing sector liberalization. Telebirr: A Driving Force in Digital Finance One of the standout achievements was the rapid growth of Ethio Telecom’s mobile money platform, telebirr. The platform has become a cornerstone of Ethiopia’s financial inclusion drive, facilitating secure transactions worth 2.38 trillion birr for its more than 83 million users. Beyond transaction volume, telebirr generated 162 billion birr in direct income, cementing its role as both a financial service enabler and a major revenue stream for Ethio Telecom. Commendation and Strategic Guidance from EIH EIH praised Ethio Telecom for its: Strategic execution in expanding services and adapting to a shifting market. Digital transformation impact, especially in widening access to cashless transactions. Contribution to financial inclusion, helping millions participate in the digital economy. At the same time, EIH offered recommendations to sustain momentum and strengthen competitiveness. These included: Maintaining consistent growth while navigating new entrants in the telecom space. Enhancing service quality and customer satisfaction to build loyalty. Pursuing cost optimization to preserve margins in a high-investment sector. Aligning with global telecom and fintech trends, particularly in the convergence of telecom and banking services, to foster collaboration and industry harmony. Ethio Telecom’s achievements highlight its continued dominance in Ethiopia’s telecom sector, even as the market prepares for increased competition from Safaricom Ethiopia and other potential entrants. With telebirr’s exponential growth and EIH’s emphasis on cost efficiency and global integration, the company is positioning itself not only as a telecom operator but also as a central player in Ethiopia’s evolving digital financial ecosystem.

Development Bank of Ethiopia Reports Strong Growth in 2017 EFY

Development Bank of Ethiopia Reports Strong Growth in 2017 EFY Addis Ababa – Ethiopian Investment Holdings (EIH), the nation’s sovereign wealth fund, concluded Day 3 of its annual performance dialogue with an in-depth review of the Development Bank of Ethiopia (DBE). The dialogue assessed the Bank’s financial and operational performance for the 2017 Ethiopian Fiscal Year (EFY), highlighting both achievements and areas requiring strategic improvement. According to the report presented, DBE registered Birr 18.0 billion in revenue, reflecting a 30.7% increase compared to the previous fiscal year. The Bank also achieved a strong performance in loan collections, securing Birr 24.0 billion. This figure not only exceeded the annual target by 5.0%, but also represented a substantial 51.6% growth compared to the prior period. EIH executives commended DBE for the robust progress, particularly in loan recovery and revenue growth, which are seen as key indicators of the Bank’s improving financial discipline. The sovereign wealth fund also underscored DBE’s critical role in financing development projects and supporting Ethiopia’s industrialization drive. During the review, EIH provided strategic guidance to further strengthen the Bank’s operations. The recommendations focused on four priority areas: Foreign currency generation: Enhancing export-linked financing and partnerships to increase hard currency inflows. Fund mobilization: Broadening resource mobilization channels to support the Bank’s growing project financing portfolio. Non-Performing Loans (NPLs): Implementing stricter credit risk management and recovery mechanisms to reduce the NPL ratio, which has historically challenged DBE. Operational efficiency: Investing in digitalization, streamlined processes, and capacity-building to improve service delivery and cost-effectiveness. The discussions also emphasized DBE’s role in aligning with Ethiopia’s broader economic reform agenda, including industrial expansion, export growth, and private-sector development. EIH announced that the performance dialogue sessions will continue with other state-owned enterprises in the coming days, ensuring accountability and providing direction for sustainable growth across Ethiopia’s public sector institutions.