Awash Investment Bank Set to Launch Operations with 200 Million Birr Capital

Awash Investment Bank Set to Launch Operations with 200 Million Birr Capital Addis Ababa – July 25, 2025 — Awash Investment Bank, a newly established subsidiary of Awash Bank, is set to begin operations after securing a business license and initial capital of 200 million birr. The bank, which aims to provide specialized investment banking services, announced that Dr. Andualem Hailu has been appointed as its inaugural Chief Executive Officer. Dr. Andualem brings with him deep experience in the financial sector, positioning the institution for a strong start in Ethiopia’s rapidly evolving capital markets landscape. According to a statement from Awash Bank, the new investment bank will focus on supporting long-term financing, equity investment, and advisory services to help scale businesses across strategic sectors such as infrastructure, manufacturing, and technology. While launching with 200 million birr in capital, the bank has set its sights on doubling that amount to 400 million birr in the near future, signaling its ambition to become a major player in Ethiopia’s investment ecosystem. The move comes as Ethiopia’s financial sector continues to open up to new forms of banking and investment services, creating opportunities for institutions like Awash Investment Bank to fill key gaps in capital mobilization and financial intermediation. Awash Bank, Ethiopia’s leading private commercial bank, has described the new venture as part of its broader strategy to diversify services and deepen its impact in the national economy.

Ethiopian Airlines Expands MRO Facility, Cementing Position as Africa’s Aviation Leader

Ethiopian Airlines Expands MRO Facility, Cementing Position as Africa’s Aviation Leader ADDIS ABABA, Ethiopia – Ethiopian Airlines has unveiled a major expansion of its Maintenance, Repair, and Overhaul (MRO) complex at Bole International Airport, a $150 million project that positions Ethiopia as the largest aircraft maintenance hub in Africa. The new facilities, constructed by China Communications Construction Company, are set to significantly boost the airline’s maintenance capabilities and generate new revenue streams. The expansion includes a new hangar capable of accommodating wide-body aircraft, a state-of-the-art component maintenance center, and an automated warehouse. These additions will increase the airline’s airframe maintenance capacity by 50%, enabling it to service its growing fleet and meet the increasing demand for MRO services from other carriers across Africa and the Middle East. A key highlight of the project is the advanced technology employed during its construction. The use of 5G remote technologies for lifting heavy steel structures was a first for Ethiopia, underscoring the project’s innovative approach. The MRO complex is certified by both the U.S. Federal Aviation Administration (FAA) and the European Aviation Safety Agency (EASA), ensuring it meets the highest international standards. This strategic investment is a significant step towards achieving African aviation self-reliance. By providing world-class MRO services on the continent, Ethiopian Airlines is reducing the need for African carriers to send their aircraft overseas for maintenance, a move that will save time and money for the region’s airlines. The expansion is expected to have a ripple effect on the local economy, creating jobs and fostering technological transfer.

Ethio Telecom Reports 162 Billion Birr Revenue and 4.9 Trillion Birr in Telebirr Transfers in 2017 Fiscal Year

Ethio Telecom Reports 162 Billion Birr Revenue and 4.9 Trillion Birr in Telebirr Transfers in 2017 Fiscal Year Addis Ababa – July 24, 2025 – Ethio Telecom has reported a strong financial and operational performance for the 2017 Ethiopian fiscal year (2024/2025), achieving 162 billion birr in revenue, amounting to 99% of its annual target. The announcement was made by CEO Frehiwot Tamiru, who highlighted the company’s multifaceted contribution to advancing Digital Ethiopia 2025, expanding telecom infrastructure, and scaling digital financial services. Revenue and Subscriber Growth Ethio Telecom’s total revenue for the year stood at 162 billion birr, reflecting solid performance across its mobile, internet, and financial service segments. The company added 7 million new users during the fiscal year, reaching a total subscriber base of 83.2 million, a 6.2% increase compared to the previous year. Telebirr: A Pillar of Digital Finance Telebirr, Ethio Telecom’s mobile money platform, continued to drive financial inclusion and digital economy growth: 4.93 trillion birr has been transferred through the platform since its launch, as of the end of the 2017 fiscal year. Of this, 2.3 trillion birr was transacted during the just-concluded fiscal year alone. The number of Telebirr users grew to 54.84 million, confirming its rapid adoption and impact across Ethiopia. CEO Frehiwot emphasized that Telebirr has made tangible contributions to modernizing Ethiopia’s financial ecosystem, especially among underserved and unbanked populations. Network Expansion and Infrastructure Upgrades Ethio Telecom invested heavily in upgrading and expanding its network infrastructure during the reporting year: 1,683 new mobile sites were deployed to enhance service delivery and reduce congestion. 512 cities and towns received 4G coverage, while 16 cities were connected to 5G services, underscoring the company’s commitment to next-generation connectivity. Internet services were expanded to 2,388 kebeles, enabling 5.9 million citizens—many in rural and remote areas—to access the internet, a major step toward digital inclusion. Product and Service Innovation Ethio Telecom introduced 365 new products and services in the 2017 fiscal year. These spanned multiple sectors including: Enterprise ICT solutions Bundled packages for youth and families Digital platforms for education, health, and agriculture Enhanced customer service tools and self-service applications Sustainable Innovation: EV Charging Stations In line with Ethiopia’s climate and sustainability goals, Ethio Telecom also ventured into green infrastructure. It installed two electric vehicle (EV) charging stations, which have so far served over 73,000 vehicles. This initiative highlights the company’s role in supporting Ethiopia’s clean energy transition. Strategic Vision: Enabling Digital Ethiopia CEO Frehiwot Tamiru reiterated that all these efforts align with the national Digital Ethiopia 2025 strategy. She emphasized that Ethio Telecom is not just a telecommunications provider, but a strategic enabler of digital transformation, delivering efficient, inclusive, and forward-looking services that are reshaping how Ethiopians live, work, transact, and connect.

Creative Hub Ethiopia Set to Inaugurate National Innovation Space at Historic Arada Post Office

Creative Hub Ethiopia Set to Inaugurate National Innovation Space at Historic Arada Post Office Addis Ababa, Ethiopia – July 28, 2025 — In a bold fusion of heritage and innovation, Creative Hub Ethiopia is set to inaugurate a landmark innovation and entrepreneurship space at the historic Arada Post Office, breathing new life into one of Addis Ababa’s most treasured architectural icons. Slated for launch on Monday, July 28, 2025, the Creative Hub Ethiopia – Arada Post Office Space aims to become a national epicenter for design thinking, creative enterprise, and youth-driven innovation. The high-profile inauguration will draw senior government officials, international partners, diplomats, and leaders from Ethiopia’s growing creative and tech sectors. A New Chapter for a Historic Landmark Once a cornerstone of Ethiopia’s communication infrastructure, the Arada Post Office has undergone a meticulous restoration to emerge as a state-of-the-art innovation hub. The repurposed facility will host exhibitions, showcases, and keynote addresses spotlighting the future of African design and entrepreneurship. “This is more than a building—it’s a signal of what’s possible when we preserve the past while investing in the future,” said organizers ahead of the event. Hub of Creativity and Industrial Innovation Backed by the United Nations Industrial Development Organization (UNIDO) and funded by the Italian Development Cooperation, the Creative Hub Ethiopia initiative is designed to strengthen the creative economy and empower small and medium-sized enterprises (SMEs). The hub provides access to modern tools, mentorship, training, and networking opportunities—all within a collaborative ecosystem that bridges creatives with industry and policy leaders. The project is implemented in partnership with iceaddis, Ethiopia’s first innovation hub, which has played a pivotal role in fostering youth entrepreneurship over the past decade. A Platform for Regional Impact The launch event will feature: Unveiling of the revitalized Arada Post Office space Live exhibitions from Ethiopian innovators in design, tech, and the arts Keynote remarks by Ethiopian officials and international development leaders Networking sessions with key figures from the public and private sectors Building the Future, Creatively The Creative Hub Ethiopia – Arada Post Office Space signals a new era for Ethiopia’s creative economy—one where heritage and innovation go hand in hand. As the country leans into design-led industrial growth, this hub stands as a tangible symbol of international collaboration, youth empowerment, and inclusive development.

Ethiopia Unveils First Treasury-Bill Issuance Calendar, Marking Milestone in Public Finance Reform

Ethiopia Unveils First Treasury-Bill Issuance Calendar, Marking Milestone in Public Finance Reform Addis Ababa, July 22, 2025 — In a landmark move to modernize Ethiopia’s public finance framework, the Ministry of Finance has released the country’s first-ever issuance calendar for Treasury bills, signaling a major shift toward a market-based approach to deficit financing. The three-month issuance calendar outlines a schedule for domestic-currency Treasury bill auctions, aiming to bring greater transparency, predictability, and investor confidence to the local debt market. This initiative forms part of the government’s broader “reset, reform, and relaunch” agenda designed to deepen the domestic debt market and improve fiscal discipline. By publishing a forward-looking calendar, the Ministry intends to provide market participants with clear visibility of upcoming auctions. This, in turn, is expected to foster more efficient market participation, reduce borrowing costs, and minimize inflationary pressures associated with ad-hoc public borrowing. “This is a key milestone in Ethiopia’s journey toward more transparent and sustainable debt management,” the Ministry stated. “It supports our commitment to borrow domestically in a responsible manner while safeguarding macroeconomic stability.” The move also complements the recent opening of Ethiopia’s secondary bond market and the expansion of competitive retail auctions through the Ethiopian Securities Exchange. By doing so, it broadens access for a wider range of investors, including individuals and institutional players. As part of ongoing reforms, the Ministry of Finance pledged to continue aligning its practices with international best standards, promoting investor openness, and enhancing market participation to boost fiscal credibility. The newly launched calendar is publicly accessible via the Ministry’s official website: https://lnkd.in/en48S4V6.

Ethiopia Overhauls Procurement Rules for State-Owned Enterprises with New Directive

Ethiopia Overhauls Procurement Rules for State-Owned Enterprises with New Directive ADDIS ABABA – The Ethiopian Ministry of Finance has officially released Directive 1070/2025, a sweeping new framework designed to modernize and standardize the procurement processes for all Federal Government Owned Enterprises (SOEs). The directive aims to boost efficiency, enhance transparency, and ensure greater value for money in a critical sector of the nation’s economy. The new rules, signed by Finance Minister Ahmed Shide and dated May 2025, replace a fragmented system where individual SOEs operated under disparate, board-approved directives. The preamble of the new document acknowledges that the previous system contained “gaps and issues,” and that a harmonized, modern approach is necessary for these commercially-oriented enterprises that compete with the private sector. “This is a critical step in transforming our state-owned enterprises into more competitive, agile, and accountable entities,” a statement from the Ministry could read. “By standardizing procedures and prioritizing value and sustainability, we are ensuring that public funds are utilized with maximum efficiency and impact.” For domestic and international businesses seeking to supply goods and services to Ethiopia’s SOEs, the directive introduces several significant changes: Key Highlights of the New Procurement Directive: Emphasis on Modern Procurement Methods: The directive formally introduces and encourages modern approaches like Electronic Procurement, Framework Agreements for long-term supply, and Strategic Partnership Procurements. This signals a move away from purely traditional, paper-based tendering towards more efficient, relationship-based, and digital systems. Sustainability and Ethics at the Forefront: In a major policy shift, the directive mandates the implementation of a Sustainable Procurement System. Bidders will now be evaluated on more than just the lowest price. The framework includes criteria such as Lifetime Cost Analysis, consideration for Environmental Protection, and the procurement’s Social and Economic Impact. This aligns Ethiopia’s public procurement with global best practices. Heightened Transparency and Accountability: The directive introduces stringent measures to ensure fairness and combat corruption. These include detailed rules on Conflict of Interest for officials, clear guidelines on the Participation of Former Employees in bidding, and a robust Complaint and Appeal Procedure for aggrieved bidders. Furthermore, bidders may be required to disclose their ultimate “ownership benefactors,” increasing corporate transparency. Clearer Rules of Engagement: The document provides explicit financial thresholds for different procurement methods, including National and International Open Bids, Restricted Tenders, and Requests for Quotation. It offers detailed qualification requirements for sectors like construction, providing greater predictability for contractors and suppliers. Digitalization and Information Access: The directive mandates the public disclosure of procurement information, including contract awards, on the SOEs’ official websites. It also makes provisions for the use of electronic communication and reverse auctions, paving the way for a more digitized procurement landscape. Initial reaction from the business community is expected to be one of cautious optimism. A clear, harmonized procurement system has long been requested by the private sector to reduce ambiguity and level the playing field. The directive’s success will now depend on its thorough implementation across all federal SOEs. It represents a significant attempt by the government to align the operations of its key economic engines with modern, transparent, and market-driven principles, potentially unlocking new opportunities for competitive and compliant businesses. LEAVE A REPLY Cancel reply Save my name, email, and website in this browser for the next time I comment. Δ

Meet the Doctors That Saved My Mom’s Life

Meet the Doctors That Saved My Mom’s Life By- Abel Asrat Last week, something extraordinary happened in our family—an event that brought healing, closure, and hope after years of silent anguish. My mother, who had waited nearly five years for life-saving heart treatment, finally received her long-overdue coronary angiogram and angioplasty. Behind this medical miracle stands a team of brilliant doctors and selfless volunteers, whose dedication transformed a personal tragedy into a powerful story of resilience and renewal. A Family’s Long Wait for Healing My mother’s heart problems weren’t new. We’ve lived with the looming fear of losing her for years. Every phone call from her felt like a 911 alert in my mind. That fear was rooted in a deeper wound—my father, who suffered from the same heart condition, never received the chance to get treated. He passed away, leaving us devastated and haunted by “what-ifs.” So when my mom was finally called by The Children’s Heart Fund of Ethiopia – Cardiac Center Ethiopia, it marked a turning point. She had been on a waiting list for years—five long years—for this procedure. She got the call, and soon after, she underwent her long-awaited coronary angiogram and angioplasty. The procedure was successful. Today, she is in full recovery, and for the first time in years, our family can breathe freely. The Heroes Behind the Scenes This transformation didn’t happen in a vacuum. It was the result of extraordinary people working with a vision bigger than any one patient. Leading the charge was Dr. Tesfaye Telila, a highly respected interventional cardiologist based in the United States, and Dr. Obsinet Merid, whose deep commitment to cardiovascular health in Ethiopia has impacted countless lives. Dr. Tesfaye Telila and his team recently completed 165 life-saving cardiovascular procedures in Ethiopia—procedures that would have otherwise cost patients upwards of $15,000 to $20,000 in a U.S. healthcare setting. These interventions not only changed the medical outcomes of hundreds of families but also offered dignity, access, and renewed hope to those long denied it. What struck me the most about Dr. Telila’s mission, beyond the technical brilliance, was the genuine spirit of partnership and sustainable impact. His team’s work was done in collaboration with the Federal Ministry of Health Ethiopia, under the leadership of Dr. Mekdes Daba, the Minister of Health, and her senior officials. This wasn’t just a temporary medical campaign—it was part of a broader vision to strengthen Ethiopia’s cardiovascular care system through collaboration with local institutions and experts. A Sacred Partnership: The Heart Attack Ethiopia Initiative Equally important was the role of HEART ATTACK Ethiopia, an initiative co-founded by Dr. Telila, which focuses on bringing cardiovascular care to underserved populations. Their goal is not just to intervene during crises but to build a system—a sustainable infrastructure where local medical professionals are trained, empowered, and supported to deliver ongoing cardiac care. The mission culminated in a celebration at the Ministry of Health, where Dr. Telila and his team were welcomed with traditional Ethiopian coffee, heartfelt words from the Minister, and a shared sense of purpose. That spirit of collaboration and mutual respect is what will make this mission last beyond any single procedure. More Than a Heartbeat: A New Purpose For my mother, this wasn’t just a medical procedure—it was a new lease on life. For me, it was a call to action. I’m forever indebted to these doctors, not only for saving my mother’s life but for reminding me that collective action, compassion, and knowledge can change the course of a family’s future. I’ve made it my mission to mobilize resources, raise awareness about this incredible center, and support the heroes who are building a more just and accessible healthcare system in Ethiopia. I’ll be sharing my plans soon, and I hope many of you reading this will join me. Together, we can ensure that more mothers and fathers live to see their grandchildren, that no family loses a loved one just because of geography or lack of means. To Dr. Tesfaye Telila, Dr. Obsinet Merid, the volunteers from the U.S., the team at the Cardiac Center Ethiopia, and the Ministry of Health—thank you. You didn’t just save a life. You saved a family. ❤️🇪🇹🇺🇸 If you’d like to learn more about how you can support the Cardiac Center or HEART ATTACK Ethiopia, feel free to reach out. Let’s build a world where no one dies waiting for a chance at life.

How to Start Trading on CBE Capital: A Beginner’s Guide for Ethiopians Entering the Stock Market

How to Start Trading on CBE Capital: A Beginner’s Guide for Ethiopians Entering the Stock Market As Ethiopia’s financial sector modernizes and expands, more Ethiopians are gaining access to a once-unreachable world: stock market investing. With the Ethiopian Securities Exchange (ESX) now operational and CBE Capital acting as a licensed broker, individuals can officially begin buying and selling securities—right from home or through designated channels. If you’re new to this game and wondering how to trade on the Commercial Bank of Ethiopia’s investment arm (CBE Capital), here’s a detailed but digestible guide—plus a clear breakdown of the fees involved so you don’t get caught off guard. 🏦 What Is CBE Capital? CBE Capital is the investment banking and brokerage arm of the Commercial Bank of Ethiopia (CBE). It facilitates trades on the Ethiopian Securities Exchange (ESX) and over-the-counter (OTC) markets, giving retail and institutional investors access to: Equities (stocks) Bonds (corporate, treasury, and state-level) Mutual Funds & ETFs Sukuks (Sharia-compliant investment instruments) Commercial Papers 🚀 How to Start Trading Open a CBE Capital Investment Account Visit the nearest CBE Capital office or apply online (once digital onboarding is fully rolled out). Submit required KYC documents (ID, TIN, proof of address, etc.). Visit the nearest CBE Capital office or apply online (once digital onboarding is fully rolled out). Submit required KYC documents (ID, TIN, proof of address, etc.). Fund Your Account Deposit funds via your CBE bank account or directly into your brokerage account. Deposit funds via your CBE bank account or directly into your brokerage account. Choose What to Invest In Equities for long-term growth Treasury Bonds or Bills for safety and stability Mutual Funds/ETFs for diversification Corporate Bonds or Commercial Papers for fixed income Sukuks for Sharia-compliant investment Equities for long-term growth Treasury Bonds or Bills for safety and stability Mutual Funds/ETFs for diversification Corporate Bonds or Commercial Papers for fixed income Sukuks for Sharia-compliant investment Place Your Order Orders can be made online, via phone, or in person (depending on what CBE Capital currently supports). Choose the market: Main, Growth, OTC, etc. Orders can be made online, via phone, or in person (depending on what CBE Capital currently supports). Choose the market: Main, Growth, OTC, etc. Track and Manage Your Investments Use CBE Capital platforms or tools (when fully launched) to monitor your portfolio. Use CBE Capital platforms or tools (when fully launched) to monitor your portfolio. 💸 What Does It Cost to Trade? Here’s a breakdown of all the transaction fees, so you know what portion of your money goes where. ✅ CBE Capital Commissions (Your Broker’s Cut) 📊 Ethiopian Securities Exchange (ESX) Transaction Fees Collected by CBE Capital on behalf of the ESX: 🏛️ Ethiopian Capital Market Authority (ECMA) Fees Also collected via CBE Capital: 🔐 Central Securities Depository (CSD) Fees Still to be determined (TBD). These fees will cover the secure holding of your assets (your “digital vault”). 🧾 Local Example: Salem’s First Investment in Ethiopia’s Stock Market Let’s say Salem, a 29-year-old graphic designer living in Addis Ababa, hears about the Ethiopian Securities Exchange launching and decides to dip her toes in. She opens an account at CBE Capital and deposits 10,000 ETB to buy shares of a tech startup that’s newly listed on the Main Market. Here’s how her transaction breaks down: So instead of buying the full 10,000 ETB worth of shares, Salem ends up investing 9,789 ETB after fees. It’s not a huge cost, but it’s important to account for it. Salem then tracks her shares weekly. Over three months, her stock gains 12% in value. Her investment grows to about 10,965 ETB, showing her that with a little research and patience, her money can grow without sitting idle in a savings account. ⚠️ Tips Before You Dive In Start small: Use your first trades to learn the system. Understand risk: Stocks can rise and fall—do your homework. Diversify: Don’t put all your money in one type of asset. Watch the fees: High-fee assets (like unlisted markets and mutual funds) can eat into your returns. 📲 Where to Learn More Follow CBE Capital’s official site, social media, or visit a nearby CBE branch. Training sessions, webinars, and guides will also roll out as the market matures. Bottom Line? Ethiopia is entering a new financial era, and retail investors finally have a seat at the table. Whether you’re a student, employee, or diaspora returnee, trading through CBE Capital is now a real possibility—just be smart about it.

House of People’s Representatives Unanimously Approves Ethiopian Startup Proclamation

House of People’s Representatives Unanimously Approves Ethiopian Startup Proclamation House of People’s Representatives Unanimously Approves Ethiopian Startup Proclamation The House of People’s Representatives, during its second emergency session of the fourth year of its current term, has unanimously passed the much-anticipated Ethiopian Startup Proclamation. According to Dr. Negeri Lencho, Chairman of the Standing Committee on Human Resources, Employment, and Technology Affairs, the proclamation marks a pivotal milestone in Ethiopia’s journey toward building an innovation-driven economy. “The adoption and enforcement of this proclamation will not only allow Ethiopia to harness its untapped potential but will also enable the country to compete effectively on the global stage,” he stated. The new legislation is set to be implemented across federal, regional, and city governments, ensuring a comprehensive and harmonized national approach to fostering entrepreneurship. The Ethiopian Startup Proclamation is designed to inspire and support the country’s many talented and creative citizens. It aims to shift Ethiopia from being primarily a consumer of foreign innovations and products to becoming a creator, producer, and exporter of its own technologies and solutions. Crucially, the proclamation recognizes the central role that startups play in driving sustainable economic growth, technological advancement, and job creation. By providing an enabling legal and institutional framework, it seeks to improve the success rate of startups, facilitate access to financial resources, and expand employment opportunities across various sectors. Experts believe the proclamation will also help bridge the gap between innovation and market access, particularly for youth- and women-led ventures, thereby positioning startups as engines of inclusive development. With this move, Ethiopia joins a growing number of countries that are proactively shaping startup ecosystems through dedicated policy tools—signaling its commitment to nurturing local innovation and empowering a new generation of entrepreneurs.