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Tag: Ethiopia

Ethiopia secures $3.4bn IMF loan after currency float
Business

Ethiopia to sign historic deal for Africa’s $29tr gas-by-rail project

Ethiopia is set to make history on Monday, December 8, 2025, when it signs a Host Country Collaborative Agreement with Insight Dynamic Resources to formally launch the Gas-by-Rail Economic Corridor Initiative. This signing marks the beginning of one of Africa’s most ambitious industrial and energy transformation projects. The GBR-ECI represents an unprecedented attempt to connect […]

Ethiopia welcomes foreign banks after decades of isolation
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Ethiopia welcomes foreign banks after decades of isolation

After more than half a century of keeping foreign banks at bay, Ethiopia is finally opening its financial sector — a dramatic shift from decades of strict protectionism rooted not just in economic nationalism, but in the need for state control. The country first shut its financial borders following the 1974 nationalisation of banks under […]

Ethiopia secures $3.4bn IMF loan after currency float
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Ethiopia secures $3.4bn IMF loan after currency float

Ethiopia has obtained a $3.4 billion loan from the International Monetary Fund, marking a significant step in its economic reform efforts aimed at addressing foreign currency shortages and attracting foreign investment. The IMF’s four-year financing package is designed to support Ethiopia’s Homegrown Economic Reform Agenda. The package will help address macroeconomic imbalances, restore external debt […]

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Trade costs in Nigeria, Ethiopia higher than in US — W’Bank

The World Bank has stated that the cost of trade in Nigeria and Ethiopia is four to five times higher than what is obtained in the United States due to insecurity, higher transportation costs, topography, and poor road infrastructure. The Global lender pointed out in the Africa Pulse published on Monday that price differences between […]

[ICYMI] Ethiopia to let foreigners own properties, says PM
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[ICYMI] Ethiopia to let foreigners own properties, says PM

Onwubuke Melvin Ethiopia aims to pass legislation to let foreigners own real estate as part of the country’s broader plan to open up the economy and attract investors, Prime Minister Abiy Ahmed said on state TV late on Saturday. Currently, foreigners are not allowed to own property in Ethiopia, either residential or commercial buildings, which […]

Ethiopia defaults on $1bn bond repayment
Business News

Ethiopia defaults on $1bn bond repayment

Ethiopia has defaulted on a $1 billion bond, failing to make a $33 million interest payment after the expiry of a grace period on Monday. Situated in the Horn of Africa, the country was due to pay this interest amount on December 11. However, as Finance Minister Ahmed Shide explained on state TV on Thursday, […]

Safaricom’s M-Pesa launches in Ethiopia
News Tech

Safaricom’s M-Pesa launches in Ethiopia

Safaricom’s M-Pesa mobile money service on Wednesday launched in Ethiopia as part of its efforts to spur growth in one of Africa’s largest economies. “M-Pesa is known to be a game-changer for financial inclusion,” Safaricom Ethiopia’s interim CEO, Stanley Njoroge said. “We will continue to broaden the services our customers receive from the M-Pesa platform.” […]

India warns YouTube, X, others over child abuse content
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Ethiopia ends social media blockade after four months

Ethiopia’s social media landscape has come back to life as Facebook, Instagram, and TikTok are unblocked after a prolonged five-month shutdown. The Open Observatory of Network Interference confirmed the restoration of access, signaling the end of a period of online censorship that began in February. Ethiopians can now freely access popular social media platforms without […]

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