Ethiopia Sets $150K Minimum for Foreign Property Ownership, Bans Local Bank Loans

Ethiopia Sets $150K Minimum for Foreign Property Ownership, Bans Local Bank Loans A new draft proclamation has been submitted to Ethiopia’s House of People’s Representatives, setting out strict regulations on foreign ownership of real estate and land for residential construction. The proposed legislation seeks to attract foreign investment while protecting the domestic financial sector. Among its key provisions is a clause prohibiting foreign nationals and foreign-owned entities from borrowing funds or raising capital from Ethiopian financial institutions to purchase property or build homes. According to the draft, any foreign individual or legal entity wishing to acquire property must invest a minimum of $150,000 USD. Additionally, foreign ownership is capped at five real estate properties per person at any given time. The bill also bars foreign citizens from owning units in government-subsidized communal housing. However, properties developed through public-private partnerships or similar profit-driven housing schemes are exempt from this restriction. The proclamation, introduced on May 12, 2017 (Ethiopian calendar), underscores the government’s intent to balance foreign capital inflow with safeguards for the domestic housing and financial markets.

NBE Lifts Limit: Importers Can Now Make $50K Advance Payments

NBE Lifts Limit: Importers Can Now Make $50K Advance Payments The National Bank of Ethiopia Introduces New Measures to Reform the Foreign Exchange Market The National Bank of Ethiopia (NBE) has announced the implementation of several reform measures aimed at improving the country’s foreign exchange market system. These reforms are intended not only to align Ethiopia’s foreign exchange market with international best practices but also to create a more convenient environment for importers and international travelers. What Are the Key Reform Measures Introduced Today? 1. Increased Advance Payment Limit for Importers The maximum advance payment limit for importers has been raised from USD 5,000 to USD 50,000. This measure is expected to address long-standing constraints on the amount of foreign exchange that importers can advance to their international suppliers. Citing international benchmarks and the need to modernize outdated practices, the NBE stated: “Based on the experience of peer countries and the need to update long-standing practices, the advance payment amount permitted for importing goods has been increased from USD 5,000 to USD 50,000.” 2. Increased Foreign Currency Limits for Travelers To create a more traveler-friendly foreign exchange policy, the NBE has raised the foreign currency limit for Ethiopian citizens traveling abroad. Under the new policy: Private travelers can now carry up to USD 10,000 in foreign currency. Business travelers are allowed up to USD 15,000. These amounts can be withdrawn either in cash or via payment cards. Additionally, individuals with foreign currency bank accounts can now withdraw up to 20% of their balance via cards, up from the previous 10%. 3. Regulation of Bank Charges on Foreign Exchange Services The NBE has also taken steps to standardize and regulate the administrative fees banks charge for foreign exchange services. “To bring Ethiopia’s foreign exchange-related administrative fees in line with international norms, banks are urged to prioritize competitiveness, transparency, and customer convenience in their pricing structures,” the Bank stated. Effective May 18, 2017 (Ethiopian calendar): Banks are prohibited from charging more than 4% in administrative fees on foreign exchange-related services such as revenue collection, service charges, and cash transactions. Banks must eliminate additional minor service charges to simplify the fee structure and ensure consumer transparency. To reinforce transparency, the NBE announced that starting June 2017 (Ethiopian calendar), it will begin publishing bank administrative fees related to foreign exchange services on its official website. 1 COMMENT fentahun May 21, 2025 At 9:27 am You introduced well updated regulatory policy of the NBE rgarding to captal raising.Such as inporters $5k to 50k,busines traveler upto15k amd privet traveler 10k. Thank u You introduced well updated regulatory policy of the NBE rgarding to captal raising.Such as inporters $5k to 50k,busines traveler upto15k amd privet traveler 10k. Thank u Comments are closed.

Africa at the Crossroads: A New Economic Dawn Fueled by Innovation, Diaspora Capital, and Bold Leadership

Africa at the Crossroads: A New Economic Dawn Fueled by Innovation, Diaspora Capital, and Bold Leadership Interview with Lulite Ejigu, Chairperson of GRV and CEO & Managing Partner of Tevah Capital About Lulite Ejigu Lulite Ejigu brings a wealth of global financial expertise to her leadership at the Ethiopian Diaspora Trust Fund and currently serves as CEO & Managing Partner at Tevah Capital, a global advisory firm specializing in investment, capital strategy, and risk management. Before founding Tevah Capital, she held senior leadership roles at J.P. Morgan, Citi, and Morgan Stanley, focusing on risk governance, regulatory compliance, and capital markets operations. Beyond her impressive résumé, Ejigu is deeply committed to empowering Ethiopia’s next generation. She has consistently championed youth leadership, women’s participation, and diaspora mentorship as critical levers for sustainable development. Throughout her career, she has led international delegations and forged investment linkages, helping to place Ethiopia on the global economic map. The Winds of Global Change In today’s fast-paced world, alliances, trade structures, and economic norms are rapidly evolving. While some nations scramble to adapt, Ethiopia—and the African continent more broadly—stands at a rare juncture, one that allows it to chart its own course.“We are witnessing a once-in-a-generation realignment,” Ejigu explains. “It’s a time when Ethiopia must actively define its future role rather than passively inherit a place.” These global shifts open a rare window for the continent to lead its own reinvention.  has a unique chance to define its value proposition—whether through innovation, human capital, or strategic partnerships—in a world actively seeking new solutions. It is also a time for countries to remain focused and not get distracted, as the clarity and consistency of their vision will determine whether they shape the future—or are shaped by it. GRV Summit: A Watershed Moment The 2024 GRV Summit, often likened to a ‘mini-Davos’ for Ethiopian startups, marked a pivotal point for the country’s entrepreneurial landscape. Unlike previous development models anchored in aid, GRV ignited a new sense of possibility in the local innovation ecosystem. “At GRV, we asked a critical question: ‘What or whom are we waiting for?’” Ejigu said. “This summit sparked a movement of urgency and ownership we had not seen before.” More than just a networking platform, GRV offered a tangible framework—structured mentorship, strategic seed funding, and diaspora-led knowledge transfer. It demonstrated that Ethiopian entrepreneurs can lead, not follow, by building a community-driven model of innovation and investment with long-term potential for catalytic effect. Diaspora Capital: A Sleeping Giant Awakens For years, the global Ethiopian diaspora has primarily contributed through remittances. But now, a shift is underway. The diaspora is awakening to its potential as a transformative financial and intellectual force. “Investing in Ethiopian startups offers both financial returns and the chance to shape a legacy of empowerment,” Ejigu explained. With savings yields stagnating in many developed economies, Ethiopian ventures offer not only significant returns but also the opportunity to positively influence the next generation. Even modest contributions—like sharing expertise or opening networks—can have outsized impact on Ethiopia’s entrepreneurs. “The only moment we truly own is the present,” she emphasized. “Small but intentional actions today can transform the path of generations.” Ethiopia’s Financial Renaissance: Birth of the ESX A cornerstone of Ethiopia’s new financial chapter is the Ethiopian Securities Exchange (ESX). This long-awaited platform represents a critical step toward creating a modern and inclusive economy. “The ESX offers Ethiopia a chance to build a modern, inclusive economy, much like India’s transformative journey,” Ejigu shared. “History offers insights into potential outcomes.” By studying successful models like India’s 1990s liberalization, Ethiopia can design a capital market that genuinely empowers SMEs and entrepreneurs. Still, Ejigu adds a note of prioritization for sustained policy and institutional support to keep the momentum of this promising start. Innovation as a Sovereignty Strategy In today’s geopolitically charged climate, innovation is no longer a luxury—it’s a necessity. “Innovation is not a luxury; it’s a necessity for sovereignty,” Ejigu said. But she was quick to clarify that innovation extends far beyond fintech. From sustainable agriculture to manufacturing tech, Africa must build a broad innovation portfolio to buffer against global volatility. “African leaders must actively monitor and adopt global innovations to maintain a competitive edge,” she advised. “But innovation must also be paired with vigilance to navigate global uncertainties.” Empowering communities must become a collective decision—a deliberate shift in mindset that recognizes Africa’s own capacity to fund, innovate, and lead. “It’s about shifting mindsets before shifting markets,” she noted. Vision 2030: Ethiopia’s Emerging Blueprint Looking ahead to 2030, the GRV movement and its ecosystem partners envision an inclusive and resilient economic architecture. Where there were once charity-driven narratives, there could soon be thriving innovation hubs and scalable startups. “I envision communities once seen through the lens of charity becoming beacons of opportunity,” Ejigu said. “The seeds we plant today through initiatives like GRV can yield a thriving, resilient economic future.” This future hinges on de-risking entrepreneurial pathways through seed funding, accelerator programs such as the UNDP’s Innovative Finance Lab, and new non-collateralized lending models driven by local banks. The Balancing Act: Impact and Profit Balancing social impact with financial sustainability remains a central challenge. Ethiopia’s emerging startups are tackling critical sectors—agriculture, education, healthcare—not only with purpose but with business discipline. “We need businesses that deliver real impact and can survive beyond grant cycles,” Ejigu explained. “At GRV, we are proving that profitability and purpose are not mutually exclusive.” The GRV model underscores operational excellence, diversified capital, and measurable social return—positioning Ethiopia’s startups as global case studies for sustainable enterprise. A Fragile but Fierce New Beginning Ethiopia stands on the brink of an economic rebirth. Its foundations—youthful energy, financial innovation, diaspora engagement, and bold leadership—are promising. But the road ahead will require commitment. Structural reforms must deepen. Innovation ecosystems must be nurtured, not just celebrated. And narratives must be reshaped from within, not by external observers. If Ethiopia succeeds, it won’t just redefine itself—it will offer a powerful blueprint for how emerging economies can seize global transformation on their own terms.

M-Pesa Lite Officially Launches in Ethiopia, Expanding Cross-Network Mobile Money Access

M-Pesa Lite Officially Launches in Ethiopia, Expanding Cross-Network Mobile Money Access Addis Ababa – May 19, 2025 — Ethiopia has reached a major milestone in digital finance with the official launch of M-Pesa Lite, a streamlined version of the popular mobile money platform designed to enhance accessibility and financial inclusion across the country. The newly released M-Pesa for All app is now compatible with both Safaricom and Ethio Telecom SIM cards, marking a breakthrough in cross-network mobile money interoperability. This integration allows users from either network to make digital payments more seamlessly, securely, and affordably than ever before. The rollout of M-Pesa Lite is part of a broader push toward digital inclusion and financial empowerment in Ethiopia, where access to traditional banking services remains limited for much of the population. The initiative aims to make mobile payments more user-friendly and to bridge the digital divide by enabling wider participation in the formal financial system. Industry experts see the launch as a pivotal moment for Ethiopia’s fintech landscape, enabling flexible payment solutions and fostering greater economic participation through technology. #MPESA #DigitalInclusion #EthiopiaDigital #FintechInnovation #MPESAEthiopia

Ethiopian Electric Power Opens $445 Million International Bid for Landmark 62-Story HQ

Ethiopian Electric Power Opens $445 Million International Bid for Landmark 62-Story HQ Addis Ababa, Ethiopia – May 19, 2025 – Ethiopian Electric Power (EEP) has launched an international pre-qualification process for the design and construction of a landmark 62-story headquarters in the heart of Addis Ababa, valued at an estimated $445 million. The mega project will rise in the city’s Mexican neighborhood, on a 20,792-square-meter plot within the Addis Ababa Financial Center. With a planned height of 327.5 meters and a total floor area of 197,800 square meters, the tower is set to become one of the tallest and most iconic buildings in the region. It will be developed under an Engineering, Procurement, and Construction (EPC) contract and is expected to be completed within four years. EEP is targeting internationally reputable contractors with strong financial and technical credentials. To qualify, applicants must demonstrate an average annual revenue of at least $230 million over the past five years and present audited financial reports for the same period. Technically, bidders must have at least a decade of experience and a proven track record of executing large-scale commercial construction projects valued at $370 million or more. Dar Al-Handasah (Shair and Partners) has been appointed as the design and construction supervision consultant for the project. According to officials, the headquarters is expected to transform the Addis Ababa skyline and significantly enhance the city’s commercial infrastructure, while also setting new benchmarks for environmental and engineering standards in the country. The initiative marks one of the largest real estate investments in Ethiopia to date and underscores the government’s ambition to position Addis Ababa as a regional financial and business hub. 2 COMMENTS Goole May 20, 2025 At 9:48 pm But they collect money from the poor for construction of renaissance dam Electricity infrastructure is yet poorly developed. One could think of one additional dam steed of the building. But they collect money from the poor for construction of renaissance dam Electricity infrastructure is yet poorly developed. One could think of one additional dam steed of the building. Kifle Alemayehu May 24, 2025 At 3:12 pm It is unfortunate that this much money is going to be spent on a project that has no dirct value to the people in the city, in fact this uselless project will add unbearable hard ship because the will be forced upon them to cover the cost,. The money would be better spend on destrbuatuon of power (Electric ) to the residents of Addis. It’ just doesn’t make sense. What is happening is unsestainable and the country is in a complete full down. It It is unfortunate that this much money is going to be spent on a project that has no dirct value to the people in the city, in fact this uselless project will add unbearable hard ship because the will be forced upon them to cover the cost,. The money would be better spend on destrbuatuon of power (Electric ) to the residents of Addis. It’ just doesn’t make sense. What is happening is unsestainable and the country is in a complete full down. It Comments are closed.

Google’s NotebookLM Launches Amharic Support, Enhancing AI Accessibility in Ethiopia

Google’s NotebookLM Launches Amharic Support, Enhancing AI Accessibility in Ethiopia In a significant stride towards inclusivity, Google has expanded its AI-powered note-taking assistant, NotebookLM, to support Amharic, Ethiopia’s official language. This development is part of a broader initiative to make advanced AI tools accessible to a more diverse global audience. NotebookLM, initially introduced as Project Tailwind, utilizes Google’s Gemini 1.5 Pro large language model to assist users in generating summaries and answering questions based on their documents. The platform has been rolled out to over 200 countries, with interface language support extended to 108 languages, including Amharic . A notable feature of this expansion is the introduction of Audio Overviews in more than 50 languages. This functionality transforms written content into spoken summaries, allowing users to engage with information in a podcast-like format. While the complete list of supported languages for Audio Overviews has not been disclosed, the inclusion of Amharic in the interface languages suggests potential support for audio summaries in the language . For Ethiopian users, this means enhanced accessibility to AI-driven tools that can aid in education, research, and professional tasks. The ability to interact with NotebookLM in Amharic can bridge language barriers and foster greater engagement with digital resources. To explore NotebookLM and its new language capabilities, users can visit notebooklm.google.(NotebookLM)

Wegagen Capital Becomes First Trading Member of Ethiopian Securities Exchange

Wegagen Capital Becomes First Trading Member of Ethiopian Securities Exchange In a landmark moment for Ethiopia’s financial sector, Wegagen Capital Investment Bank S.C. has become the first institution to receive a Trading Membership Certificate from the Ethiopian Securities Exchange (ESX). This achievement follows the firm’s recent investment banking license from the Ethiopian Capital Market Authority (ECMA), positioning Wegagen Capital at the forefront of the country’s emerging capital markets. As a licensed trading member, Wegagen Capital is now authorized to facilitate investor participation on the ESX, execute trades on behalf of clients, and contribute to the creation of a transparent and liquid trading environment. This development marks a significant step forward in operationalizing Ethiopia’s capital market and building a more inclusive, modern financial system. The membership certificate was awarded during a ceremony attended by H.E. Hana Tehelku, Director General of ECMA, and Sunil Benimadhu, CEO of the Mauritius Stock Exchange. The milestone comes shortly after Wegagen Capital’s parent company, Wegagen Bank, made history as the first firm to list its shares on the ESX. Now serving both as a listed entity and a licensed market intermediary, Wegagen is uniquely positioned to lead the way in Ethiopia’s capital market transformation. Wegagen Capital’s entry into the trading space is expected to bolster investor confidence, enhance market liquidity, and set a benchmark for other institutions preparing to join the exchange. It also signals the growing alignment between Ethiopia’s financial institutions and the country’s evolving regulatory landscape. As Ethiopia accelerates efforts to build its capital market infrastructure, milestones like this underscore the momentum behind financial reform and the nation’s broader commitment to fostering investment, transparency, and long-term economic growth.

President of Ethiopian Health Professionals Association and Doctors Arrested Amid Growing Tensions

President of Ethiopian Health Professionals Association and Doctors Arrested Amid Growing Tensions The President of the Ethiopian Health Professionals Association, Ato Yonatan Daneye, along with three doctors from Arba Minch General Hospital, has been taken into police custody. This brings the total number of health professionals arrested in Addis Ababa, the Amhara Region, and the Southern Nations, Nationalities, and Peoples’ Region to five. Meanwhile, five others detained in Addis Ababa were released after two days. According to the association’s Vice President, Ato Meles Bata, Ato Yonatan—who has publicly supported the recent movement of health professionals—was arrested on Sunday, May 11, 2025 (Gregorian calendar). Ato Yonatan, a health worker at Bichena Primary Hospital in East Gojam Zone, has been leading the association since its founding in 2015. Speaking to the BBC, Ato Meles stated that Yonatan was taken from his home on Sunday afternoon. “He called me on Saturday and mentioned that both the hospital and local police station were seeking to question him,” Meles said. “He was arrested the following day.” Meles managed to speak briefly with Yonatan after his arrest. While Yonatan indicated that he was not facing serious problems, the call was abruptly cut off before further details could be shared. Meles believes the arrest is connected to the health professionals’ recent collective actions. He cited multiple warnings received by both himself and Yonatan as indicators of targeted pressure. The association had previously issued letters urging health professionals to respond firmly but responsibly to ongoing issues, including salary grievances and working conditions. “We are confident the arrest is linked to the association’s involvement,” Meles added. “Even if others are involved, that is not our concern.” Yonatan is not the only health professional detained in relation to these protests. On Friday, May 09, 2025 (Gregorian calendar), three doctors from Arba Minch General Hospital—Dr. Barnabas Samuel, Dr. Melaku Almau, and Dr. Habtamu Getachew—were arrested, according to their families. All three are also lecturers at Arba Minch University. Family members told the BBC that images of the three doctors participating in Friday’s protest were circulated on social media. Following this, the doctors were summoned to the hospital, where government officials and security forces were reportedly present. They were later arrested and taken to the Gamo Zone Police Station on suspicion of “coordinating the health workers’ movement.” However, Dr. Ambachew Duma, manager of Arba Minch General Hospital, denied the arrests, telling the BBC that he had met with the health professionals and reached an agreement. “No one has been arrested,” he claimed. In Addis Ababa, four health workers were also detained after expressing support for the movement at their health center in the Keraniyo Sub-City of Nefas Silk. The arrests occurred on Wednesday, May 07, 2025 (Gregorian calendar). Among them was Degnesh Tilahun, a community health worker with 30 years of service. Her husband, Rev. Dawit Garuma, told the BBC that police arrived later that afternoon and detained the group at the Jemo Michael Police Station. All four were released on bail on Friday, May 09, 2025, prior to appearing in court, their families said. Later that same day, pharmacist Gebru Melka was arrested while leaving work at the Addis Ketema Sub-City Woreda 9 Health Center. According to a close friend who spoke to the BBC anonymously due to safety concerns, Gebru is currently being held at the Fourth Police Station in the Merkato area. His arrest was reportedly linked to a group photo taken in support of the movement. Gebru was scheduled to appear in the Addis Ababa City First District Court on Saturday, May 10, 2022 (Gregorian calendar). The court granted police five days of the twelve requested for further investigation. Michael Tsegaye, a midwife nurse at the same health center, was arrested a day earlier, on Wednesday, May 3, 2017 (Gregorian calendar). He was released on Friday, May 09, 2025, after two days in custody. Reports also indicate that doctors at Agaro Hospital in the Jimma Zone of Oromia Region were detained and have since been released.

Ethiopian Capital Market Authority Launches Probe into Unlicensed Fundraising Involving Ermias Amelga

Ethiopian Capital Market Authority Launches Probe into Unlicensed Fundraising Involving Ermias Amelga The Ethiopian Capital Market Authority (ECMA) has initiated a formal investigation into alleged illegal fundraising activities involving well-known entrepreneur Ato Ermias Amelga and a company identified as Genesis Investment Services. In an official statement released this week, the Authority revealed that it has received multiple complaints regarding unauthorized public fundraising through the sale of securities. The probe targets various individuals and organizations suspected of operating without proper licenses and bypassing regulatory oversight. Specifically, the Authority confirmed that both Ermias Amelga and Genesis Investment Services are subjects of the investigation. ECMA emphasized that all inquiries will be conducted in accordance with constitutional safeguards, including the right to a fair hearing and legal defense. The Authority urged the public to remain vigilant when engaging in capital market activities, particularly when investing in or establishing commercial entities. Citizens are strongly advised to verify business registration documents with the appropriate government offices and consult only with investment advisors licensed by the Authority before committing any funds. Additionally, ECMA called on the public to report any unlicensed individuals or entities offering capital market services. The Authority affirmed its commitment to enforcing regulations and taking action against all forms of illegal fundraising activities.