Commercial Bank of Ethiopia’s System Failure: A Closer Look at the Consequences for Customers

The Commercial Bank of Ethiopia (CBE) is currently facing the challenge of recovering significant amounts of money that were withdrawn by customers due to a “systems glitch”. On Saturday, customers realized that

March 18, 2024

Business·News

How Ethiopian Bureaucracy Hinders Foreign Direct Investment

Eyasu Zekarias The Ethiopian government is currently confronted with a critical issue in luring fresh foreign direct investment (FDI) and promoting economic growth, primarily due to bureaucratic hindrances and a shortage of

March 18, 2024

News·Business·Economy

Ethiopia Fails to Pay Coupon, Becoming Latest African Defaulter

Fasika Tadesse and Colleen Goko Bloomberg Businessweek Mon, December 25, 2023 Ethiopia became Africa’s latest defaulter after it failed to make an interest payment following the end of a grace period on

December 25, 2023

Economy·Business

Fitch Ratings has downgraded Ethiopia’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR)to ‘C’

Fitch Ratings – Hong Kong – 14 Dec 2023: Fitch Ratings has downgraded Ethiopia’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) as well as the issue rating on Ethiopia’s single outstanding Eurobond

December 14, 2023

News·Business·Economy

Ethiopian Airlines adds two new African routes and resumes New York services

Aviations News Ethiopia’s flag carrier Ethiopian Airlines is adding two new African routes to its network out of its Addis Ababa hub. The carrier also has plans to expand its US connectivity with the resumption

February 23, 2023

Business

The Horn of Africa States Fiat Money Versus Gold

By Dr. Suleiman Walhad December 15th, 2022 Fiat money is generally defined as the currency issued by a government through its central bank. Such a currency is often backed by the economy

December 16, 2022

Economy·Business

Top 10 best airlines in Africa

VICTOR OLUWOLE June 19, 2022 Skytrax has revealed the World’s Top 100 Airlines for 2021 and Ethiopian Airlines maintained its number one ranking as the best African airline in 2021. The awards

June 30, 2022

Business

Ethiopian News: Ethiopia’s State Telecom Launches 5G Services in Capital

By Dawit Endeshaw ADDIS ABABA (Reuters) – State-owned operator Ethio Telecom launched a 5G mobile phone service on Monday in a key step ahead of competition from new entrants in an industry that

May 9, 2022

Business·News