Addis Ababa Inaugurates 5th Corridor Development Project

Addis Ababa Inaugurates 5th Corridor Development Project Addis Ababa’s ongoing urban transformation marked another milestone today with the inauguration of the 5th corridor development project of the second round, officially opened in the presence of Prime Minister Dr. Abiy Ahmed. The project, which stretches across some of the city’s most iconic and densely used areas, reflects Ethiopia’s broader ambition to create a modern, livable capital that embodies prosperity and resilience. The Scope of the Project The newly inaugurated corridor extends from Southgate to Diaspora Junction, Haya Bi, Urael, and Meskel Square—a strategic stretch that connects residential hubs, business districts, and cultural landmarks. According to project planners, this corridor has been designed with more than traffic in mind: Service amenities have been integrated to provide convenience for residents and commuters. Public plazas and green spaces have been embedded to enhance livability and community engagement. Inclusive access ensures that pedestrians, cyclists, and commuters benefit equally from the redevelopment. In essence, the project seeks to balance transportation efficiency with quality of life, bringing Addis closer to its vision of a “city as beautiful as its name.” Infrastructure and Engineering Achievements At the heart of this initiative is a comprehensive infrastructure overhaul that demonstrates the city’s growing capacity for modern urban engineering. 8 kilometers of main road, with widths ranging from 51 to 60 meters, allow for smoother vehicular flow and reduced congestion. 16 kilometers of concrete sidewalks make pedestrian mobility safer and more comfortable, while promoting walkability in a city long dominated by car traffic. Retaining walls and ITS (Intelligent Transport System) ductwork ensure both safety and the integration of smart technologies for traffic management. Smart roadside poles not only provide lighting but also create the potential for future connectivity features like CCTV monitoring and 5G readiness. Railway crossings for vehicles and pedestrians improve connectivity with the city’s expanding light rail system. Dedicated bicycle and pedestrian paths promote sustainable and eco-friendly commuting alternatives. These features underscore Addis Ababa’s shift toward modern, multi-modal, and environmentally conscious infrastructure planning. Economic and Employment Impact Beyond physical transformation, the corridor project has already delivered substantial socio-economic benefits. A total of 23,622 employment opportunities—both temporary and permanent—have been created during the project’s construction and handover phase. Small and medium businesses benefited from sub-contracts and supply chains, while local residents gained jobs in construction, logistics, and landscaping. In the long term, improved infrastructure is expected to stimulate commerce, attract investment, and boost land values along the corridor. This employment generation forms part of the government’s broader agenda to integrate urban development with poverty reduction and inclusive growth. A Vision for a Blooming City Prime Minister Abiy Ahmed emphasized that projects like this are more than infrastructure—they are symbols of Ethiopia’s prosperity and resilience. Addis Ababa, a city often described as the “political capital of Africa,” is positioning itself not just as a hub for diplomacy, but also as a model of urban renewal in the region. The corridor development program, launched in 2019 under the Beautifying Sheger Initiative, has seen multiple rounds of projects completed, each designed to modernize key arteries of the city while preserving green spaces. The 5th corridor joins other flagship projects such as Friendship Square, Sheger Park, and the redevelopment of Piassa and Churchill Road, all of which aim to improve aesthetics, functionality, and tourism potential. Acknowledgment and Collective Effort The inauguration ceremony concluded with a strong note of appreciation. Leaders at all levels, engineers, urban planners, and community members were recognized for their dedication to completing the project on time and with quality standards intact. The Prime Minister reiterated his government’s commitment to continuing corridor developments, linking infrastructure upgrades with broader national goals: economic growth, environmental sustainability, and social inclusivity. Looking Ahead As Addis Ababa continues its second round of corridor projects, each new inauguration signals a deepening investment in the city’s future. The 5th corridor is not an isolated effort, but part of a network of interconnected developments that will shape the city’s mobility, livability, and competitiveness for decades to come. With over 23,000 citizens already benefiting from employment opportunities, and countless more poised to enjoy improved services, the corridor stands as both a practical achievement and a symbolic commitment: to make Addis Ababa “a city as beautiful as its name.”

Ethiopia Showcases Locally Produced Drones as Symbol of Sovereignty and Growth

Ethiopia Showcases Locally Produced Drones as Symbol of Sovereignty and Growth Addis Ababa – Prime Minister Abiy Ahmed (PhD) has announced that Ethiopia’s growing capacity to produce drones domestically will play a critical role in safeguarding the country’s sovereignty and sustaining its path toward prosperity. During a visit to the Aero Abay drone manufacturing facility, Abiy emphasized that advancing military technology is not only a matter of national defense but also an essential safeguard for economic progress. “The drones that Ethiopia is producing will help it maintain its sovereignty and continue its prosperity,” the Prime Minister stated. Linking Defense to Development Abiy underlined that countries experiencing rapid economic growth must also expand their defense capabilities. Without this balance, he warned, economies may become vulnerable to external pressures and security threats. He further highlighted Ethiopia’s shift from being a purchaser of foreign military technology to a producer of indigenous systems, describing it as a milestone achievement for the nation’s industrial and technological future. Beyond Defense: A Broader Development Vision The Prime Minister also pointed to progress across multiple sectors — agriculture, technology, tourism, and mining — as proof of Ethiopia’s untapped potential. He framed the drone production initiative as part of this broader national transformation. “The fact that Ethiopia has started manufacturing technologies rather than purchasing them is an indication that impressive and promising results are being recorded in the sector,” Abiy said. A New Industrial Frontier The unveiling of domestically produced drones comes amid Ethiopia’s wider push for self-reliance in strategic industries. The move is seen as part of Abiy’s broader vision to position Ethiopia as both a regional power and a competitive economy built on innovation, resilience, and sovereignty.

Arabic Voices, English Tweets: How Ethiopians Won the GERD Media War

Arabic Voices, English Tweets: How Ethiopians Won the GERD Media War When Ethiopia first announced the Grand Ethiopian Renaissance Dam (GERD), Cairo responded not only with diplomatic pressure but with a media blitz. More than 80 Egyptian outlets—newspapers, TV channels, and websites—saturated the Arabic media sphere with documentaries, opinion pieces, and reports painting Ethiopia as reckless and illegitimate. But in parallel, a counter-offensive rose from Ethiopians themselves. Without official press credentials, they became digital warriors, mobilizing language skills, cultural fluency, and sheer persistence to rewrite the story of GERD in the Arab world and beyond. Arabic-Speaking Ethiopians: Voices from Within the Region One of the earliest and most prominent defenders was Faheed Mohammed, who recalls how Egyptian channels filled the airwaves with claims of looming drought, regional destabilization, and fabricated Ethiopian promises not to touch the Abay (Blue Nile). Patriotic Ethiopians, he explains, stepped up where governments could not—using small independent media outlets, YouTube channels, and Facebook groups to counter the barrage of misinformation in Arabic. “Since false reports in Arabic were constant, we provided accurate, up-to-date information about the dam to the Arab world. This prevented attacks and improved the reputation of our country,” Faheed told ETV. Perhaps the most recognized Arabic digital voice is Ustaz Jamal Bashir, founder of the Kings of Abay YouTube page. Starting as a protest against Egyptian narratives, his platform exploded in reach. Bashir livestreamed 40 minutes to 10 hours daily, directly engaging audiences across the Middle East. His broadcasts amassed over 50 million views, not only debunking falsehoods but also reframing GERD as a symbol of fairness, development, and regional cooperation. By invoking Quranic principles of justice and fairness, Bashir resonated with Arab audiences on cultural and religious terms, shifting conversations away from fear toward equity. Egyptian citizens themselves began acknowledging Ethiopia’s right to use its own resources, while Arab influencers visited Addis Ababa to see Ethiopia’s transformation firsthand. The English-Language Front: @RenaissanceDam While Arabic campaigns were crucial to countering Egypt’s regional influence, Ethiopia also needed to reach global audiences. Here, an English-language digital warrior emerged: The Asrat Blog (@RenaissanceDam) on X (formerly Twitter). Handle: @RenaissanceDam Followers: 16,000+ Following: 10 accounts Active Since: November 2011 Profile: Senior Principal Electrical Engineer: GERD news, technical insights & geopolitical analysis. Bridging facts & perspectives. Unlike Arabic platforms focused on narrative defense, @RenaissanceDam provides technical credibility and global framing. Posts explain hydrological mechanics, update international audiences on construction milestones, and contextualize GERD in geopolitical terms. Pinned posts read like guided tours: “Assume I’m the storyteller in the passenger seat, guiding you through what the camera sees.” Such writing blends engineering detail with narrative flair, making complex issues digestible for diplomats, researchers, and diaspora readers. The account’s independence, combined with its technical authority, has helped Ethiopia’s case resonate beyond the region—showing that GERD is not just a nationalist project but a continental development milestone. Digital Diplomacy Without Embassies Together, these Arabic and English digital warriors represent a new kind of diplomacy: Arabic advocates like Faheed Mohammed and Jamal Bashir defended Ethiopia’s legitimacy directly inside Egypt’s linguistic sphere. English voices like @RenaissanceDam translated GERD’s story into a global frame, reaching analysts, policymakers, and international media. Neither group waited for government press releases. They operated as citizen diplomats, shaping perceptions through persistence, credibility, and digital creativity. Lessons for Ethiopia and Africa The GERD media war demonstrates that infrastructure projects are not only engineering feats but also narrative battlegrounds. In the 21st century, whoever frames the story often shapes the outcome. Language is power: Arabic advocacy ensured Ethiopia’s voice was heard in the same language as the accusations. Expertise is credibility: Technical insights from English-language accounts lent international legitimacy. Decentralized patriotism: Because these voices were citizen-led, not state-scripted, they resonated as authentic and trustworthy. Beyond Inauguration: Sustaining the Digital Front As the GERD reaches inauguration, both Faheed Mohammed and Ustaz Jamal Bashir stress that the work isn’t done. Misinformation can still undermine cooperation. Advocacy must evolve from defense to proactive storytelling: Showing how GERD prevents floods in Sudan. Demonstrating how affordable electricity can power the Horn of Africa. Positioning Ethiopia as a model of sovereign-led development. The English and Arabic digital warriors of GERD have already proven that narratives matter as much as megawatts. In defending Ethiopia’s dam, they also defended the principle that Africa can speak for itself—on its own terms, in its own languages, and on its own platforms.

Ethiopia Plans 10 More Nile Dams — Here’s What You Need to Know

Ethiopia Plans 10 More Nile Dams — Here’s What You Need to Know Ethiopia Plans 10 More Nile Dams — Here’s What You Need to Know With GERD nearing inauguration, Addis Ababa is pivoting from a singular monument to a managed river system. A ten‑dam vision would optimise flows, raise firm energy, and underwrite a regional power market—if Ethiopia can shift from sovereign mobilisation to bankable PPPs. With the Grand Ethiopian Renaissance Dam (GERD) approaching its formal inauguration, Prime Minister Abiy Ahmed has set out a bigger horizon line: a study plan for ten additional dams across the Nile Basin and its tributaries. Read literally, the announcement doesn’t imply shovels in the ground for ten sites tomorrow. Read strategically, it signals Ethiopia’s shift from building a singular monument to designing a managed river system. The GERD becomes Act I—a proof of concept in engineering, logistics, and political will—while the ten‑dam vision sketches Act II: a cascade approach that optimises hydrology, stabilises firm energy, and anchors a regional power market. This article unpacks the technical logic behind likely sites, the financing pivot from state‑led mobilisation to public‑private partnerships (PPPs), and the geopolitics of managing a shared river amid downstream scepticism. It argues that the only feasible path begins with one flagship, bankable PPP—most plausibly Mendaia—whose success would create a replicable legal‑financial template for subsequent projects. In short, from unilateral build‑out to coordinated bankability. GERD as paradigm: capability, confidence, leverage Domestic capacity as the hidden asset GERD’s most enduring contribution may not be its nameplate capacity; it is the human and institutional capability forged across a 14‑year project cycle. The experience base within Ethiopian Electric Power (EEP), domestic contractors, and supervising agencies now spans complex civil works, turbine commissioning, grid integration, sediment management, and multi‑year reservoir operations. That tacit knowledge reduces execution risk for follow‑on projects—an advantage that cannot be imported and is difficult for rivals to discount. A fait accompli that reorders incentives With the GERD physically standing and its vast reservoir in operation, the political question has shifted. The historic debate—could Ethiopia build at all?—is over. The active debate is operational: how it will be run during drought cycles, how much data will be shared in real time, and what long‑run flow variability looks like for Sudanese and Egyptian infrastructure. The presence of the dam also re‑weights bargaining: it demonstrates the limits of external pressure and reframes negotiations from abstract rights to concrete operating rules. From one dam to a system: the ten‑project anatomy The Abay (Blue Nile) cascade as the backbone The technical core of Ethiopia’s next phase is not an unknown frontier but the revival of well‑studied main‑stem sites on the Abay. Three large anchors dominate credible lists: Mendaia (≈2,000 MW), Beko Abo (≈2,100 MW) and Karadobi (≈1,600 MW). A cascade approach alters both physics and economics: rather than over‑reliance on a single regulator (GERD), multiple reservoirs distribute maintenance and drought risk, smooth seasonal volatility, and capture sediment upstream, preserving downstream turbines and live storage. Tributaries as diversification and resilience To reach “ten,” tributary projects serve dual aims: energy and water management for agriculture. In the Dedessa sub‑basin, options include a ≈301 MW hydro site and irrigation upgrades. The Tekeze system, building on Tekeze I (300 MW), could add a ≈450 MW Tekeze II leveraging existing corridors. Within the Abay basin, Dabus and Chemoga‑Yada surface regularly in PPP pipelines; outside the Nile, Halele‑Warabessa and Genale‑Dawa stabilise the national grid even if they do not affect Nile politics. The financing pivot: from mobilisation to bankability Why the GERD model won’t scale A multi‑dam programme costing tens of billions cannot ride on patriotic bonds and payroll deductions. Ethiopia’s power plan anticipates private capital, DFIs and export‑credit agencies. For investors, three pain points dominate: FX convertibility, offtaker risk & tariff sufficiency, and ESG/ transparency. Without credible solutions, the cost of capital spikes—or capital does not show up. PPP governance ≠ sovereign build GERD was accountable primarily to domestic constituencies. PPP‑era projects will answer to lenders applying World Bank/IFC standards. The trade‑off: more preparation and documentation, in return for cheaper, more abundant capital and reputational lift. Geopolitics: between energy‑hub ambition and downstream red lines Exports & the Eastern Africa Power Pool Ethiopia’s goal is not merely to meet domestic demand, but to become a regional anchor. Interconnectors to Sudan, Djibouti and Kenya already support trade; links to Tanzania and South Sudan are feasible next steps. Low marginal‑cost hydropower, paired with dependable firm energy, can crowd out diesel generation in neighbours and generate hard‑currency receipts to help service dam debt. Downstream calculus: law, leverage and optics Egypt and Sudan seek binding rules on filling and operation. Their tactics—legal‑diplomatic challenges and reputation risk for financiers—aim to slow upstream momentum. Ethiopia’s counter is operational transparency: demonstrate with data that regulated flows reduce Sudan’s flood risk and that drought protocols can be codified without ceding sovereign control over future development. Execution playbook: turning intent into assets Start with one flagship PPP (Mendaia) and make it bullet‑proof. Investment‑grade ESIA including transboundary analysis; layered FX backstops; clear PPA structure with capacity+energy components. Strengthen the offtaker & tariff credibility. A multi‑year tariff escalator, insulated from ad‑hoc freezes; improved collections and loss reduction; targeted subsidies outside the utility balance sheet. Codify operational transparency for GERD. Data protocols on reservoir levels, releases and inflow forecasts build lender and neighbour confidence. Align hydropower scheduling with export contracts. Stochastic inflow modelling and explicit drought‑year rules reduce over‑commitment risk. Engineer sediment management from day one. Use Karadobi and targeted sluicing/flush strategies to protect downstream turbines and preserve live storage. Build domestic EPC/O&M capability. Skills‑transfer clauses, vocational pipelines and local O&M firms become a strategic export over time. ESG is a gatekeeper, not an afterthought Under PPP/IFI scrutiny, ESG is a gating function for capital. Investment‑grade ESIAs should map resettlement with fair compensation and livelihood restoration; model transboundary hydrology under multi‑year drought; establish biodiversity offsets and ecological flow regimes; and create grievance mechanisms that resolve local disputes early. Political economy: keeping public legitimacy intact GERD’s legitimacy rested on sovereign achievement financed by Ethiopians. PPPs will look different: foreign sponsors, lender covenants and tariffs that must rise to service debt. The narrative should shift from sacrifice to dividend (cascade optimisation stabilises prices and funds services), from secrecy to stewardship (operational dashboards), and from project to programme (sequenced, criteria‑driven pipeline). What success in 2030 looks like Mendaia reaches financial close with layered FX backstops and a balanced PPA. Formal GERD data protocols accepted by neighbours; multi‑season operating track‑record. Karadobi or Beko Abo advance to tender with compressed diligence cycles. Two tributary projects reach advanced studies with clear irrigation‑energy coordination. Tariffs follow a published escalator; losses and arrears fall; exports materially support hard‑currency needs. …and what failure would mean Stalled PPP closings due to FX and tariff politics; diplomatic flare‑ups that deter lenders; ESIA gaps that fail IFI standards; and a domestic narrative that sours on PPPs as “selling the river,” reviving unaffordable sovereign funding. In that world, the ten‑dam plan remains a speech, not a system. Conclusion: from unilateral build to coordinated bankability The GERD era proved Ethiopia could build—against odds, without external finance and despite diplomatic headwinds. The ten‑dam era must prove Ethiopia can bank—structure credible PPAs, guarantee convertibility, meet ESG standards and sequence a portfolio so each success lowers the cost and time of the next. The hinge is one flagship project. Make Mendaia bankable, and the template writes itself. Pair that with disciplined GERD transparency, credible offtaker reform and honest ESG, and Ethiopia moves from a single heroic dam to a durable hydropower system. Jump to Sources & Notes At a glance PPP risk radar FX risk: Convertibility & transferability of birr revenues. Offtaker risk: Tariff sufficiency; EEP solvency. ESG: IFC‑grade ESIA; resettlement; ecology; grievance redress. Geopolitics: Transboundary optics; data transparency. Candidate sites (indicative) Sources & Notes This analysis synthesises publicly available planning documents, feasibility studies and sector practice. Capacity and schedule values are indicative and may change with final designs, market conditions and hydrology. Infographics are schematic and not to scale.

Commercial Bank of Ethiopia Signs MoU with Botim to Boost UAE Remittances

Commercial Bank of Ethiopia Signs MoU with Botim to Boost UAE Remittances Addis Ababa – The Commercial Bank of Ethiopia (CBE) has entered into a strategic partnership with Botim, a leading UAE-based platform, through a newly signed Memorandum of Understanding (MoU). The deal is set to provide millions of Ethiopians living in the United Arab Emirates with an easier, faster, and more secure way to send money home. A Historic Step for Legal Money Transfers Speaking at the signing ceremony, CBE President Abe Sano emphasized the importance of this partnership, highlighting how platforms like Botim can offer trusted alternatives for remittances. He noted that the agreement aligns with Ethiopia’s ongoing reforms in the foreign exchange sector and supports the government’s efforts to strengthen legal money transfer channels. What Botim Brings to the Table Representing Botim, CEO Dr. Tariq Bin Hendy said the agreement lays the groundwork for a joint venture that will make it easier for Ethiopians in the UAE to remit funds through a secure and convenient digital channel. Originally launched as a secure voice and video calling platform, Botim has evolved into a super-app, now offering: International and domestic money transfers Digital cards and payments Government services (e.g., driver’s licenses, Emirates ID renewals) Home services, shopping, and even health monitoring Strengthening Ethiopia–UAE Ties Ethiopia’s Ambassador to the UAE, Dr. Omar Hussein, praised the agreement, stressing that it not only benefits the Ethiopian community abroad but also reflects the growing partnership between Ethiopia and the UAE. He added that this collaboration will further strengthen bilateral ties and create an enabling environment for financial inclusion. Building Trust with the Diaspora The deal follows CBE’s recent mission to the UAE (August 22–28, 2017), led by President Abe Sano. The delegation worked to build stronger links with the Ethiopian diaspora, encourage legal remittance practices, and showcase the banking services available to citizens abroad. ✅ Why this matters: With remittances playing a key role in Ethiopia’s economy, the CBE–Botim partnership could channel more foreign currency into the country while giving Ethiopians in the UAE a reliable, tech-driven solution to support their families back home.

Isak & Mulugheta: Eritrean Icons Driving Billion-Dollar Deals and Transfers

Isak & Mulugheta: Eritrean Icons Driving Billion-Dollar Deals and Transfers One reshaped billion-dollar negotiations from a Dallas upbringing. The other turned silent resolve into the most expensive transfer in Premier League history. Together, David Mulugheta and Alexander Isak are rewriting what influence looks like—on the touchline and in the boardroom. Opening Scene From Dallas to Stockholm, from refugee stories to billion-dollar contracts, two sons of Eritrean parents now stand at the pinnacle of global sports. David Mulugheta, the NFL agent known as the Architect, moves power in closed-door boardrooms where commas mean millions. Alexander Isak, the Premier League striker nicknamed the Prodigy, breaks records in stadiums packed with tens of thousands. Their journeys look different, but their shared heritage—rooted in the sacrifices and resilience of Eritrean families—binds them together as icons of a diaspora that has fought to be seen. Why Their Stories Matter Mulugheta, the dealmaker, and Isak, the striker, represent two faces of the same story: how first-generation grit can reshape entire industries. One controls the balance sheets of the NFL elite; the other bends the outcome of matches watched by billions. Together, they redefine what it means to carry an immigrant legacy into the heart of global culture. David Mulugheta: The Architect of Power A Childhood of Hustle Raised in Dallas by Eritrean immigrants, Mulugheta watched his father work two jobs—taxi driver by day, gas station clerk by night. That relentless grind became his blueprint: success wasn’t theoretical, it was survival. From Law to Leverage After studying at the University of Texas and earning a law degree, he entered sports representation. Within a decade, he was negotiating record-setting contracts for Jalen Ramsey, Deshaun Watson, and Micah Parsons. Forbes repeatedly ranked him the most powerful NFL agent, and in 2024 alone he brokered over $1 billion in deals. His Method Mulugheta treats clients like family, offering blunt honesty and fierce advocacy. When Ramsey clashed with Jaguars management, Mulugheta demanded a trade—a rare public show of loyalty that reshaped agent-player dynamics. In an industry dominated by white executives, his rise as a Black, Eritrean-American agent signals change far beyond sports. Alexander Isak: The Prodigy on the Pitch Dual Roots, One Drive Born in Sweden to Eritrean refugees, Isak grew up in a community that balanced cultural pride with the pressure of integration. His calm demeanor and humility, often noted by coaches and teammates, reflect the values his parents carried from Asmara to Stockholm. Breaking Records Debuted at 16 with AIK, becoming the club’s youngest scorer. Exploded on loan at Willem II, netting 13 goals in 16 games. Won silverware with Real Sociedad. Shattered Swedish goal records at Newcastle. In 2025, forced a record-breaking £125m transfer to Liverpool, making him one of the most expensive players in football history. Redefining His Persona Long known as humble and reserved, Isak shocked fans in 2025 by openly challenging Newcastle’s management over “broken promises.” Critics saw rebellion; supporters saw empowerment. The gamble paid off: he controlled his narrative and secured the move he wanted. Two Paths, One Signal Mulugheta engineers outcomes in boardrooms; Isak bends results on grass. Both embody a diaspora narrative that resists being defined only by conflict or exile. Their success reframes Eritrean identity—not as survivors of crisis, but as leaders of industries that command global attention. Why This Resonates Representation: For Eritrean youth, they are living proof that immigrant backgrounds can fuel—not hinder—world-class achievement. Economics: Mulugheta’s deals reshape NFL salary structures; Isak’s transfers expand European football’s financial horizon. Identity: Both men showcase the balance of dual heritage: discipline, humility, and ambition passed down from parents who sacrificed stability for opportunity. What Comes Next Isak will face pressure to turn Liverpool’s investment into trophies, while Mulugheta will continue setting new standards for player empowerment and financial equity in the NFL. But beyond personal success, their stories offer a blueprint for a diaspora that has too often been invisible: you can be the playmaker, or you can be the power behind the play. Either way, you change the game.

Ethiopia’s Central Bank Governor Mamo Mihretu Steps Down After Two Years of Sweeping Reforms

Ethiopia’s Central Bank Governor Mamo Mihretu Steps Down After Two Years of Sweeping Reforms Addis Ababa — Mamo Mihretu, Governor of the National Bank of Ethiopia (NBE), has resigned after a tenure that redefined the country’s financial sector through bold reforms, including floating the birr, opening the banking industry to foreign competition, and launching the first securities exchange in decades. Mihretu, who was appointed in January 2023 by Prime Minister Abiy Ahmed, confirmed his departure in a farewell letter on Tuesday, saying the time had come to “pursue other passions and tackle other challenges.” A Reformist’s Tenure In his letter, Mihretu credited Abiy Ahmed’s leadership and said he was “grateful for the opportunity to serve as a longstanding member of Ethiopia’s macroeconomic team that helped design and lead the Home-Grown Economic Reform Program.” During his two years at the helm of the central bank, Mihretu’s agenda included: Floating the Birr (July 2024): Ethiopia abandoned its tightly managed exchange rate, letting the birr fall around 30% against the dollar to align with market forces. The move was central to unlocking a $10.7 billion IMF–World Bank financing package. Banking Liberalization (Dec 2024): Lawmakers passed legislation to allow foreign banks to operate in Ethiopia, ending decades of domestic-only control and capping foreign ownership at 40%. Capital Market Launch (Jan 2025): The Ethiopian Securities Exchange (ESX) opened, the first since the Haile Selassie era. By mid-2025, government Treasury bills were trading on the ESX with a central securities depository in place. Digital Payments Expansion: Under NBE’s oversight, digital transactions grew more than ten-fold, supported by the National Digital Payments Strategy. Gains in Stability Mihretu pointed to measurable progress under his watch: Foreign currency reserves tripled, reaching record highs. Inflation fell to its lowest in seven years, projected at ~10% in FY2025/26, the lowest in a decade. The financial sector’s assets surpassed 5 trillion birr, reflecting accelerated growth in banking activity. “These and other historic achievements of the government are nothing short of remarkable,” he wrote, thanking NBE staff for their professionalism and dedication. The Letter in His Own Words “After seven years of dedicated public service in different capacities, the time has come for me to leave government to pursue other passions and tackle other challenges. I am incredibly proud of the work we did at the National Bank of Ethiopia. We opened the financial sector to foreign banks, advanced digital inclusion, and secured $10.5B in external financing from partners including the IMF and World Bank, while stabilizing the macroeconomy and restoring investor confidence. On leaving the NBE today, I am confident that the vision of a modern central bank that is fit for purpose is within reach.” — Mamo Mihretu Market Outlook Mihretu’s resignation comes as Ethiopia navigates delicate macroeconomic terrain: Currency Volatility: The floating birr continues to trade under pressure, with the official and parallel market rates gradually converging but still vulnerable to external shocks. Foreign Bank Entry: Analysts expect Kenya’s KCB Group and South Africa’s Standard Bank to be among the first movers once regulatory frameworks are finalized. Debt and Financing: Continued disbursement of IMF and World Bank funds hinges on Ethiopia’s adherence to reforms, fiscal discipline, and ongoing debt-restructuring negotiations. Legacy and Uncertainty Mihretu’s central bank tenure compressed decades of liberalization into two years. Supporters argue the reforms were overdue and necessary to unlock foreign financing. Critics caution that the social costs—particularly from currency devaluation—risk undermining public support. Still, his departure leaves Ethiopia’s financial system at a crossroads. The reforms he championed have laid the groundwork for a modernized economy, but their durability will depend on sustained political backing and investor confidence.

1.4 Million Ethiopians on LinkedIn — What’s Driving the Trend?

1.4 Million Ethiopians on LinkedIn — What’s Driving the Trend? LinkedIn in Ethiopia: 1.40 Million Professionals, 27% YoY Growth A youth-heavy surge on LinkedIn is redefining Ethiopia’s formal economy. The signal isn’t just scale—it’s concentration: young, urban, and job-focused users converging on a single platform. LinkedIn’s Ethiopian community has expanded from 870,000 members in 2023 to 1.10 million in 2024 and 1.40 million by early 2025—roughly a 27% year-over-year clip that far outpaces general internet adoption. The platform’s overall market share remains modest, but its audience is anything but: a dense cross-section of degree-holders, early-career professionals, and rising managers concentrated in Addis Ababa and regional hubs. Scale: 1.40M LinkedIn members in early 2025; sustained double-digit growth since 2023. Signal: ~86% of users are under 35; a mirror of the demographic dividend migrating into formal work. Context: Internet users ~28.6M (2025) on international baselines; penetration shaped by urban/rural and gender gaps. Population baselines matter. International estimates place Ethiopia near 134 million people in 2025, while official statistical releases list about 109.4 million in mid-2024. That 20-million swing materially changes every penetration figure—social, internet, and professional networking—so any serious model should carry both scenarios. Connectivity trends set the stage. Internet users rose from roughly 24.83 million in 2024 to 28.60 million in 2025, with mobile connections above 85 million. Yet access is uneven: around 42% urban internet use versus ~9% in rural areas; men outpace women online, particularly outside cities. LinkedIn’s audience, unsurprisingly, skews urban and male. The platform’s penetration is best read against the connected population. Versus total population, reach sits around 1.0% on international baselines (higher on ESS). Versus internet users, it’s about 4.9%. Most telling: roughly one in six social users in Ethiopia also keeps a LinkedIn profile—a concentration of professional intent that few platforms can match. Attention across social platforms still tilts to entertainment and short-form video. Facebook, YouTube, and Instagram remain entrenched; LinkedIn carries a smaller share but outsized strategic value. TikTok’s user base in Ethiopia is widely discussed; while verified market-share splits are limited, the platform’s footprint is frequently estimated around three million monthly users. For employers and B2B teams, the playbook is straightforward: make LinkedIn the default funnel for white-collar roles, use skills-tag analytics to track talent readiness, and benchmark competitors’ structures via company pages. For market entrants, stakeholder mapping on LinkedIn lowers search costs in opaque networks and speeds up partnership formation. For analysts, monitor the gap between LinkedIn growth and overall internet growth as a leading indicator of economic formalization. LinkedIn members: 1.40M (early 2025); ~27% YoY growth since 2024. Internet users: ~28.6M (international baseline); mobile connections: 85M+. Demographics: ~37% aged 18–24; ~49% aged 25–34; ~68% male overall. Social overlap: ~1 in 6 social users also maintain a LinkedIn profile. TikTok scale marker: ~3M monthly users in Ethiopia; share not specified.

Ethiopian Investment Holdings Reports 2.05 Trillion Birr Revenue in 2017, Eyes 2.75 Trillion in 2018

Ethiopian Investment Holdings Reports 2.05 Trillion Birr Revenue in 2017, Eyes 2.75 Trillion in 2018 Ethiopian Investment Holdings (EIH), the sovereign wealth manager overseeing Ethiopia’s state-owned enterprises, announced a record performance for the 2017 financial year, posting revenues of 2.05 trillion birr and 262.7 billion birr in pre-tax profit—an 88% year-on-year increase. Sectoral Highlights EIH’s diversified portfolio of strategic enterprises showed robust growth across industries: Ethio Telecom: Voice subscribers grew by 7%, while internet users expanded by 15%. Commercial Bank of Ethiopia: Deposits surged by 310%, and loans to the private sector increased by 104%. Ethiopian Airlines: Passenger traffic climbed by 11%. Ethiopian Electric Service: Power supply rose by 18.2% in gigawatt hours. Ethiopian Agricultural Works Corporation: Fertilizer distribution rose 18%. Wenji Sugar Factory: Sugar output more than doubled, increasing by 113%. In terms of profitability, transport and logistics dominated with 66.8% of pre-tax profits, followed by financial services (14.95%), energy and communication (10.08%), agriculture and agro-processing (2.64%), and trade (2.02%). Reform-Driven Momentum EIH credited Ethiopia’s ongoing macro-economic reforms for creating an enabling environment, allowing state-owned enterprises to strengthen capacity, improve efficiency, and increase competitiveness. The organization emphasized its role in enforcing modern corporate governance standards, financial discipline, and strategic oversight across its portfolio. Future Outlook Looking ahead, EIH has set ambitious targets for the 2018 financial year: Revenue goal: 2.75 trillion birr Profit before tax: 412 billion birr To achieve these, EIH outlined key priorities: Enhancing quality and competitiveness of products and services Securing diverse financing sources and modernizing production and service delivery Strengthening financial soundness and sustainable growth Investing in human capital, digitalization, and governance reforms Improving workplace conditions, accountability, and performance evaluation EIH reaffirmed its commitment to aligning state-owned enterprises with national development goals and thanked the boards, management teams, employees, and stakeholders who contributed to the strong 2017 results.