Ethiopia Nears Final Negotiations for WTO Membership

Ethiopia Nears Final Negotiations for WTO Membership Addis Ababa, Ethiopia – Ethiopia is set to engage in a critical round of negotiations by the end of February or early March as it moves closer to securing membership in the World Trade Organization (WTO). This marks a significant step in the country’s long-standing aspiration to join the global trade body, a process that has spanned over two decades. Ethiopia first applied for WTO membership in 2003, initiating a process that required extensive economic and trade policy reforms to align with the organization’s stringent accession criteria. Over the years, the country has undertaken substantial legislative changes, including revising investment laws, modernizing customs procedures, and reducing state control over key economic sectors to foster a more competitive market environment. The upcoming round of discussions in Geneva will focus on finalizing key agreements, including Ethiopia’s commitments on market access, regulatory compliance, and domestic policy adjustments. The negotiations will cover critical aspects such as tariff structures, the liberalization of service sectors, agricultural subsidies, intellectual property protections, and adherence to global trade standards. A crucial element of these negotiations is Ethiopia’s commitment to ensuring fair competition while protecting local industries from potential external market shocks. Trade experts and government officials have expressed optimism about the ongoing negotiations. According to Ethiopia’s State Minister for Trade and Regional Integration, Yasmin Wohabrebbi, “WTO membership represents a historic opportunity for Ethiopia’s economic expansion and the attraction of foreign investment. By joining the global trading system, Ethiopia will benefit from greater market access and enhanced trade relations with other member states.” A high-level Ethiopian delegation recently met with WTO officials in Geneva, finalizing the necessary documentation required for the negotiation process. These discussions included extensive consultations with key international trade partners, aiming to secure support for Ethiopia’s accession bid. Although Ethiopia participated in its fourth round of negotiations in 2020, progress was delayed due to the COVID-19 pandemic and political instability in the country. However, the Ethiopian government has since renewed its commitment to the process, implementing various policy measures to align with WTO requirements. The government is aiming to conclude the membership process by 2026, aligning with the WTO Ministerial Conference scheduled to be held in Cameroon. In addition to multilateral negotiations, Ethiopia is actively engaged in bilateral discussions with several WTO member countries, including the United States, the European Union, and China, to resolve outstanding trade concerns and establish mutually beneficial agreements. Ethiopia’s WTO membership is expected to enhance its global trade competitiveness by expanding market access, improving the investment climate, and fostering sustainable economic growth. Additionally, membership will enable Ethiopia to participate in the global rule-making process, ensuring its interests are represented in international trade policies. The move aligns with the nation’s broader strategy to integrate into the global economy, attract foreign direct investment, and drive industrialization through increased trade opportunities. As the negotiations enter their final stage, Ethiopia remains committed to meeting the WTO’s accession requirements, with the expectation that membership will unlock new economic opportunities, strengthen its position in the international trade landscape, and bolster its long-term economic resilience.

National Bank of Ethiopia to Conduct $60 Million Foreign Exchange Auction

National Bank of Ethiopia to Conduct $60 Million Foreign Exchange Auction Addis Ababa, Ethiopia – February 24, 2025 – The National Bank of Ethiopia (NBE) has announced that it will conduct a Special Foreign Exchange Auction on February 25, 2025, with a total offering of $60 million. The auction is open to participation by all banks. According to the NBE, the auction follows the implementation of a macroeconomic reform program launched in July 2024. The central bank stated that Ethiopia’s balance of payments position has shown steady improvement, supported by rising exports, remittances, and capital inflows. The delivery of record-high gold supplies to the NBE, which serves as the country’s sole authorized gold exporter, has also contributed to an increase in foreign exchange reserves. The NBE stated that the foreign exchange auction aims to manage monetary growth and maintain market stability. The central bank noted that the increase in foreign exchange inflows should not interfere with monetary policy targets. The sale of foreign exchange to banks is intended to support market liquidity while maintaining the existing monetary policy stance. The NBE further stated that it will continue monitoring market conditions and may conduct additional foreign exchange sales if necessary to meet its economic policy objectives. Auction Details Date: Tuesday, February 25, 2025 Email Submission: [email protected] Bid Submission Period: 10:00 AM – 12:00 NOON Bid Results Announcement: 3:00 PM Settlement: End of day, February 25, 2025 The NBE has invited interested banks to submit their bids within the specified time frame. Further updates will be provided based on market conditions.

ADMAS Chatbot: Ethiopia’s Game-Changer for Startups and SMEs

ADMAS Chatbot: Ethiopia’s Game-Changer for Startups and SMEs NUNA Ethiopia has launched ADMAS Chatbot, an AI-powered business development tool aimed at supporting startups, SMEs, and entrepreneurs in Ethiopia. The chatbot is designed to provide easy access to business resources, industry insights, and mentorship opportunities. The initiative has been developed in collaboration with the Ministry of Innovation and Technology – Ethiopia, the Japan International Cooperation Agency (JICA), and various industry stakeholders. ADMAS aims to enhance access to critical business information and advisory support through AI technology. Key Features of ADMAS Chatbot ADMAS Chatbot seeks to address challenges in the startup ecosystem by offering: Business insights – Providing information on market trends, regulations, and industry best practices. AI-driven support – Offering relevant guidance to help entrepreneurs navigate challenges. Availability – Ensuring 24/7 access to business development support. Industry Engagement and Collaboration The launch event featured contributions from several key figures, including: Selamyhun Adefris Haile, Pazion Cherinet, Bejai Naiker, and Rehab Eldin Abdalla – Panelists who provided insights on business innovation and growth. Beneyam Berehanu Haile – Moderator of the discussion, facilitating conversations on the chatbot’s role in business development. Industry partners – Contributions from ZERGAW CLOUD SERVICE PROVIDER, VP Trading, and Bridge Ethiopia in the development of ADMAS. Potential Impact on Business Development ADMAS Chatbot is designed to improve access to business knowledge and services, potentially benefiting Ethiopia’s growing entrepreneurial community. By utilizing AI technology, the tool aims to provide an efficient and scalable solution for business inquiries and mentorship. NUNA Ethiopia continues to focus on innovation and business support. With ADMAS Chatbot now available, businesses and entrepreneurs can explore its features and determine its effectiveness in their operations.

Forex Bureaus Pressed to Grow Amid NBE’s Branch Expansion Freeze, Fueling Currency Access Concerns

Forex Bureaus Pressed to Grow Amid NBE’s Branch Expansion Freeze, Fueling Currency Access Concerns The establishment of forex bureaus in Ethiopia marks a pivotal moment in the nation’s transition to a market-based foreign currency exchange system. As the National Bank of Ethiopia (NBE) moves away from a decade-long fixed exchange rate regime, these bureaus represent a critical step toward afostering greater transparency and efficiency within the foreign exchange market. By bridging the gap between official and black market rates, the bureaus provide businesses and individuals with a legitimate means of accessing foreign currency. However, from the outset, these bureaus have faced substantial challenges. Despite the widespread issue of local currency liquidity across the economy, they have voiced concerns about the operational limitations of the Real-Time Gross Settlement (RTGS) system, which disrupts the smooth transfer of funds between banks. This technical bottleneck has added complexity to their operations, limiting their ability to fully support the goal of a more streamlined and transparent forex market. “We are only transferring a limited amount to our clients and losing trusts due to this reason,” said Moges Eshetu, CEO of Rooha Forex Bureau. In addition, forex bureaus face significant challenges due to regulatory constraints imposed by the National Bank of Ethiopia (NBE), which limit their ability to expand branches both in Addis Ababa and across regional cities. These restrictions have made it difficult for them to scale their operations to meet the rising demand for foreign currency. With limited access to capital and facing tight liquidity, the bureaus are struggling to secure the necessary funds to grow. This financial strain, coupled with high operational costs, hinders their ability to expand and fully contribute to addressing the country’s currency shortages and broader financial modernization goals. “We have submitted a request to the NBE for approval to expand our branch network, but we were informed that the expansion process has been temporarily suspended,” Moges told Addis Insight. He added that there should be a clear rationale behind this suspension, especially considering the bureau is licensed to operate within the country. He also drew attention to the challenges surrounding the “on-arrival visas”. While the NBE has made it clear that only clients holding traditional visas will be accepted, many individuals traveling for medical or other urgent reasons arrive with on-arrival visas, which are now issued digitally. This discrepancy between policy and the reality of modern travel has created significant hurdles for certain travelers, who, despite holding valid digital visas, find themselves unable to meet the NBE’s requirements. “Humanity will force you to provide services to those who present what they have, but the NBE imposes harsh penalties. There needs to be a law that addresses this issue,” Moges stated.

From Stadiums to Substations: Engineer Getu Geremew’s Leadership Journey

From Stadiums to Substations: Engineer Getu Geremew’s Leadership Journey Engineer Getu Geremew Soressa has been appointed as the CEO of Ethiopian Electric Service, bringing with him extensive experience in the energy sector and a notable contribution to Ethiopian athletics. Born in Inchini City, Oromia Region, Engineer Getu has built a distinguished career in both fields, demonstrating expertise in electrical engineering and renewable energy. At 40 years old, his leadership and technical acumen make him a key figure in Ethiopia’s energy sector. Academic and Professional Background Engineer Getu holds two bachelor’s degrees in Electrical Engineering and Computer Science from Hawassa University. He later obtained a master’s degree in Renewable Energy Technology from Addis Ababa University. His commitment to professional growth is reflected in his participation in numerous specialized courses both locally and internationally. With 17 years of service at the Ethiopian Electric Power Service—previously known as Light Power—he has steadily climbed the ranks, holding various leadership roles. His tenure includes serving as a Technical and Regulatory Specialist, Deputy Chief Executive Officer, and CEO of the National Coordination Sector for seven years. He also served as CEO of the Oromia Regional State Electricity Service, where he contributed to the sector’s development and efficiency. Contributions to Ethiopian Athletics Apart from his contributions to the energy sector, Engineer Getu has played a significant role in advancing Ethiopian athletics. As a member of the Ethiopian Electric Sports Club’s Board of Directors and Deputy Chairman, he has led initiatives to enhance the club’s effectiveness on national and international levels. His efforts include salary improvements for athletes to boost performance and motivation, as well as advocating for the construction of two standard running tracks to address training challenges in Ethiopia. His leadership has also been instrumental in securing financial recognition for record-breaking Ethiopian athletes. Notable athletes such as Lamecha Girma, Egist Asefa, Gudaf Tsegay, and Derbe Wolteji each received 500,000 birr as rewards for their achievements. Yomif Kejelcha, another distinguished athlete, is awaiting the confirmation of his half-marathon world record, which Engineer Getu has actively supported. International Representation and Leadership Engineer Getu’s commitment to Ethiopian athletics extends to international representation. He has played a key role in supporting Ethiopian athletes in major global competitions, including the 2024 Paris Olympics, the World Championships in Oregon and Budapest, and the World Indoor Championships. His presence at these events, providing financial support and encouragement, underscores his dedication to Ethiopian sports. Since 2015, he has been a leading figure in the Ethiopian Athletics Federation, elected to the Executive Committee with a significant majority. Currently serving as First Vice President and Technical Chairman, he continues to contribute to the strategic direction of Ethiopian athletics. Future Leadership at Ethiopian Electric Service With his appointment as CEO of Ethiopian Electric Service, Engineer Getu faces the challenge of guiding Ethiopia’s energy sector into a period of growth and modernization. His extensive background in engineering, renewable energy, and leadership positions him well to drive progress in the sector. His strategic planning skills and experience in managing large-scale projects make him a strong candidate for leading one of Ethiopia’s most critical institutions. Engineer Getu Geremew’s contributions to both the energy and athletics sectors reflect a career marked by dedication, innovation, and leadership. His appointment signals a promising phase for Ethiopian Electric Service and the broader development of Ethiopia’s energy infrastructure.

Exness Expands Operations in Ethiopia with Amharic Language Support

Exness Expands Operations in Ethiopia with Amharic Language Support Exness, a leading global forex and CFD trading platform, has announced the introduction of Amharic language support, making Ethiopia one of its latest focus markets. The move is part of the company’s broader strategy to expand its footprint in Africa, where online trading continues to gain popularity. The introduction of Amharic on the Exness trading platform and customer support channels is expected to enhance accessibility for Ethiopian traders, many of whom have previously faced language barriers when navigating trading platforms. With forex and CFD trading growing in popularity across the country, Exness aims to position itself as a leading platform for Ethiopian investors. Exness’ Global Expansion and Market Leadership Exness, founded in 2008, has grown into one of the world’s largest forex brokers, with a monthly trading volume exceeding $5 trillion and more than one million active traders worldwide. The company has built a strong presence in Asia, Africa, Europe, and the Middle East, serving both retail and institutional traders. The firm is regulated by multiple financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) in South Africa. This regulatory compliance has contributed to its reputation as a trusted and secure trading platform. Why Ethiopia? Ethiopia’s financial sector is undergoing rapid transformation, with increasing internet penetration, mobile banking adoption, and digital financial literacy contributing to a rise in forex trading interest. The country’s young and tech-savvy population has also driven demand for online investment opportunities. By introducing Amharic support, Exness aims to tap into Ethiopia’s growing base of retail traders, offering: Amharic-speaking customer service to assist traders with inquiries. A fully localized trading interface, making it easier for users to navigate the platform. Educational resources and market analysis in Amharic, helping new traders understand forex and CFD trading. This development follows a broader trend of forex brokers expanding into African markets, as interest in online trading continues to grow across the continent. What This Means for Ethiopian Traders With low entry requirements, flexible leverage options, and instant withdrawal services, Exness has positioned itself as an attractive platform for Ethiopian traders looking to participate in global markets. Industry analysts say the addition of local language support could accelerate forex adoption in Ethiopia, as it removes a major barrier for new traders. However, financial experts continue to emphasize the importance of responsible trading and risk management, as forex and CFD markets carry inherent risks. As Ethiopia’s economy continues to evolve, Exness’ expansion could mark the beginning of greater financial market participation, paving the way for more localized trading solutions in the future. Exness Platform Availability: Where Can Traders Access It? To ensure maximum accessibility for Ethiopian traders, Exness is available on multiple platforms, including: 1. Mobile Trading (Android & iOS) The Exness Trader App is available for Android and iOS devices, providing full functionality, including market analysis, trade execution, and account management. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps are also supported, allowing traders to access advanced charting and technical indicators. 2. Web Trading (Browser-Based) The Exness Web Terminal enables traders to access their accounts from any browser without downloading additional software. MetaTrader WebTrader is also available for those preferring a more traditional trading interface. 3. Desktop Trading (Windows & macOS) Exness provides dedicated Windows and macOS versions of MetaTrader 4 and MetaTrader 5, ensuring professional traders have access to high-speed execution and advanced tools. With these options, traders in Ethiopia can seamlessly access Exness from smartphones, tablets, laptops, or desktop computers, making forex and CFD trading more flexible.

Unprecedented Methane Emissions from Mount Fentale Raise Questions About Ethiopia’s Natural Gas Potential

Unprecedented Methane Emissions from Mount Fentale Raise Questions About Ethiopia’s Natural Gas Potential The recent detection of large-scale methane emissions from Mount Fentale, an active stratovolcano in Ethiopia’s Great Rift Valley, has sparked scientific interest not only due to its geological and climate implications but also for what it could mean for the region’s natural gas potential. Satellite measurements have confirmed an unusual release of methane, a gas that is a key component of natural gas, raising the possibility that untapped reserves could exist beneath the rift’s tectonic layers. A Possible Indicator of Natural Gas Deposits? Methane emissions in volcanic areas are typically associated with geothermal activity and the breakdown of organic material at high temperatures. However, the sheer volume of methane detected at Mount Fentale has led scientists to explore whether it may be leaking from deep underground hydrocarbon reservoirs, similar to those found in Ethiopia’s known natural gas-rich regions. There are several possibilities for the source of these emissions: Geothermal Methane – Volcanic and hydrothermal systems can generate methane through chemical reactions at extreme temperatures. However, these emissions are usually minor compared to what satellites have detected. Buried Organic Deposits – Large pockets of methane can form when ancient organic matter (such as plant material or marine life remains) decomposes under high heat and pressure over millions of years. The Great Rift Valley’s geological history makes this a plausible scenario. Deep Hydrocarbon Reservoirs – The ongoing earthquakes and ground fractures in the region could be releasing methane from previously trapped gas fields, similar to those in Ethiopia’s Ogaden Basin, where significant natural gas deposits have already been identified. Magma-Gas Interaction – If rising magma is heating underground organic-rich rock layers, this could be triggering massive methane release through newly formed cracks and fissures. If further analysis confirms that the methane originates from deep-seated natural gas deposits, this could mark an important discovery for Ethiopia’s energy sector. Ethiopia’s Existing Natural Gas Reserves and Energy Potential Ethiopia has already established major natural gas reserves in the Ogaden Basin, particularly in the Calub and Hilala gas fields, where extraction efforts have been ongoing. However, the Great Rift Valley—where Mount Fentale is located—has not been extensively explored for hydrocarbon resources. If Mount Fentale’s methane emissions are linked to deep natural gas pockets, Ethiopia could be sitting on an additional untapped energy source. This could present opportunities for: Diversifying Ethiopia’s Energy Mix – Ethiopia is heavily reliant on hydropower, but increasing its natural gas production could provide a more stable domestic energy supply. Attracting Foreign Investment – Ethiopia has been looking to develop its natural gas sector, with interest from international energy companies. A discovery in the Great Rift Valley could increase investor confidence in Ethiopia’s gas potential. Boosting Local and Regional Energy Markets – If commercial-scale gas reserves exist, Ethiopia could not only reduce energy imports but also export natural gas to neighboring countries. Challenges and Uncertainties Despite the potential benefits, several challenges remain: Geothermal vs. Hydrocarbon Source – Further investigation is required to determine whether the methane is part of a geothermal system (with no commercial gas potential) or whether it comes from a deeper fossil fuel reservoir. Extraction Feasibility – If natural gas is present, drilling and extraction could be complicated by active seismic activity, volcanic hazards, and difficult terrain. Environmental Risks – Methane is a highly potent greenhouse gas, and uncontrolled emissions could contribute to climate change if not managed properly. Balancing with Ethiopia’s Green Energy Goals – Ethiopia has positioned itself as a leader in renewable energy, particularly hydropower and geothermal. Large-scale investment in natural gas would require policy adjustments to align with its long-term energy strategy. Next Steps: Exploration and Monitoring Scientists and energy experts are expected to conduct further ground studies, including: Measuring methane concentrations to determine if emissions are increasing or stabilizing. Conducting geophysical surveys to assess whether there are deep gas reservoirs beneath the volcano. Studying earthquake patterns to identify whether tectonic movements are causing gas leaks from underground pockets. Evaluating the economic feasibility of exploring natural gas extraction in the region. While Mount Fentale’s recent methane release is currently viewed as a geological anomaly, it may also be a signal of deeper energy resources hidden beneath Ethiopia’s Great Rift Valley. Whether this translates into a new natural gas discovery remains to be seen, but it has certainly opened the door for future exploration and scientific inquiry.

Efforts Underway to Revive Tana Beles Sugar Factory

Efforts Underway to Revive Tana Beles Sugar Factory The Tana Beles Sugar Factory, located between Ethiopia’s Amhara and Benishangul-Gumuz regions, is undergoing a major restructuring following months of operational disruptions and workforce departures. Over the past two months, more than 75% of the factory’s employees have left, primarily due to unpaid wages. Many of these workers have since sought alternative employment elsewhere, while those who remained have awaited the gradual settlement of delayed salaries. In response to these challenges, a new board has been established, tasked with overseeing the factory’s recovery and ensuring that full-scale production resumes within a year. Dr. Biruk Taye, CEO of Ethiopian Investment Holdings (EIH), which manages state-owned enterprises, confirmed that the newly appointed board has already started efforts to reclaim and cultivate 2,000 hectares of land by May–June 2025 (Ginbot 2017 E.C.) to sustain sugar production. Thus far, 450 hectares have been cultivated. According to Dr. Biruk, these measures are part of a structured plan aimed at stabilizing operations and restoring the factory’s functionality, despite delays in previous efforts to resume production. The Tana Beles Sugar Factory, located 225 kilometers from Bahir Dar, has faced repeated setbacks since January 2025 (Tir 2017 E.C.), when its operations were largely suspended due to financial constraints and labor disputes. The most pressing concern has been four months of unpaid salaries, prompting workers to stage peaceful demonstrations at the factory. Employees had demanded immediate payment, but tensions escalated when security forces were deployed to the site. Reports from workers suggested that heavily armed personnel and military vehicles were stationed around the factory, which some saw as an intimidation tactic. While some viewed the response as a precautionary measure to maintain order, others criticized it as an attempt to suppress worker demands. Despite the tensions, 421 employees remain on-site, primarily engaged in administrative and agricultural roles. Those who left have been reportedly reassigned to other sugar factories, and efforts are underway to compensate them for their unpaid wages. Ethiopia’s government has been actively pursuing the privatization of its sugar factories, including Tana Beles, as part of a broader economic reform strategy. The factory, previously under the Ethiopian Sugar Corporation, has now been placed under an independent board, reflecting the government’s shift toward increased operational efficiency and potential private investment. As part of this process, discussions have been held with Dangote Group, one of Africa’s largest industrial conglomerates. Aliko Dangote, CEO of Dangote Group, recently met with Ethiopian officials to explore investment opportunities in the sugar sector. The company has already conducted site visits and feasibility assessments at Omo Kuraz Sugar Factory No. 3, where it is involved in expansion projects. If negotiations advance, Dangote could play a key role in modernizing Ethiopia’s sugar production industry. Dr. Biruk confirmed that discussions with investors are ongoing, as the government seeks to transition the sugar industry into private ownership. He acknowledged that privatization efforts remain complex, as they involve balancing public sector interests, workforce stability, and foreign investment considerations. While the new board’s establishment marks progress, significant challenges remain in the road to recovery. The factory must resolve outstanding salary disputes, expand cultivated land, and restore full production capacity within the planned one-year timeframe. Additionally, with the privatization process still evolving, it remains to be seen whether investor interest will translate into tangible financial commitments. For now, the situation at Tana Beles Sugar Factory remains uncertain, with both employees and industry stakeholders closely watching how the restructuring efforts unfold. The success of these measures will determine whether the factory can regain stability and contribute meaningfully to Ethiopia’s sugar production sector in the long run.

Zewditu Memorial Hospital Opens Ethiopia’s First Pediatric Neurosurgery Center

Zewditu Memorial Hospital Opens Ethiopia’s First Pediatric Neurosurgery Center Addis Ababa, February 21, 2025 – Ethiopia has taken a significant step in specialized pediatric care with the inauguration of the country’s first dedicated Pediatric Neurosurgery Center at Zewditu Memorial Hospital. Equipped with cutting-edge medical technology, the center aims to transform the treatment of children in need of life-saving neurosurgical interventions. The center features state-of-the-art equipment, including a Leica operating microscope, neuroendoscopy, an Intensive Care Unit (ICU), a Neonatal Intensive Care Unit (NICU), an Emergency Unit, and advanced diagnostic tools such as CT scans and Ultrasound. This marks a groundbreaking moment for the country’s healthcare sector, as it enhances the accessibility of specialized neurosurgical care for children. The inauguration ceremony was attended by key government officials, including Addis Ababa Mayor Adanech Abebe, Minister of Health Dr. Mekdes Daba, and Addis Ababa Health Bureau Head Dr. Yohannes Chala, among other dignitaries. In her remarks, Mayor Adanech emphasized the importance of this facility in addressing the critical health challenges faced by children suffering from neurological disorders. She highlighted the administration’s commitment to improving pediatric healthcare services and making Addis Ababa a model city for child-friendly medical infrastructure. “The establishment of this center is a crucial milestone in our journey to providing comprehensive healthcare services for children. It will significantly improve access to specialized treatments and save countless lives,” said the Minister of Health, Dr. Mekdes Daba. The construction and development of the Pediatric Neurosurgery Center were made possible through the generous support of the Reach Another Foundation. Expressing gratitude, Mayor Adanech acknowledged the foundation’s contribution, underscoring the vital role of partnerships in advancing healthcare in Ethiopia. With the launch of this center, an estimated 5,000 children annually will benefit from advanced neurosurgical procedures. The facility offers emergency and specialized surgical services tailored to pediatric neurological conditions, ensuring timely interventions and improved survival rates. This landmark achievement reflects Ethiopia’s ongoing efforts to enhance medical services and expand access to critical healthcare for its youngest citizens.