Customs Commission extends franco valuta deadline, again
Business Customs Commission extends franco valuta deadline, again By Elias Tegegn January 4, 2025 Officials at the Customs Commission have granted franco valuta importers yet another extension for the deadline to finalize their shipments. The decision, which was prompted by requests from importers, extends the deadline by another 30 days. On November 7, 2024, Finance […]
Ethio-Re registers strong performance despite reinsurance shift to hard market
By Yonathan Yoseph January 4, 2025 Despite retrocession prices and claims surging due to growing natural and man-made catastrophes, Ethiopian Reinsurance (Ethio-Re) has posted a whopping 63 percent growth in profits for 2024. The reinsurer’s net profits for the fiscal year that ended on June 30, 2024, clocked in at 400 million birr. Its reinsurance […]
Ethio telecom CEO petitions Parliament for feasible land policies to back infrastructure expansion
Business Ethio telecom CEO petitions Parliament for feasible land policies to back infrastructure… By Sisay Sahlu January 4, 2025 The chief executive of the state-owned Ethio telecom says unsuitable land acquisition procedures, particularly in the country’s urban centers, are the primary obstacle to the operator’s infrastructure expansion plans. CEO Frehiwot Tamiru addressed the comments to […]
Contractors express doubt over state’s ambitious plans for construction industry
Business Contractors express doubt over state’s ambitious plans for construction industry By Nardos Yoseph January 4, 2025 Experts and members of the private sector have aired serious doubts over the government’s ambitious targets for the Ethiopian construction sector, which they say is still characterized by state monopoly, foreign contractor dominance, financial constraints, a lack of […]
Ethiopia Central Bank Raises Credit Cap to 18% from 14%
News in brief By Staff Reporter January 4, 2025 Ethiopia’s central bank has increased the annual credit growth ceiling for commercial banks to 18% from 14%, signalling a cautious easing of monetary controls amid cooling inflation. The National Bank of Ethiopia (NBE) will maintain its broader tight monetary policy framework despite the adjustment, the regulator […]
Creating a disaster-resilient future for Ethiopians
Staff Reporter January 4, 2025 Editorial The seismic swarm that has been rattling Ethiopia’s northeastern region of Afar since September 2024 has once again brought to the fore the country’s capability to effectively manage disaster risks and minimize the toll they exact. Although no one has died due to the more than 50 mild tremors […]
Coal imports lose duty-free status in latest tariff revision
Business Coal imports lose duty-free status in latest tariff revision By Yonathan Yoseph January 4, 2025 Finance and Customs officials have declared intentions to begin levying customs duties on coal imports. Ethiopia imports hundreds of millions of dollars’ worth of coal each year, with most of it being shipped in by cement plants, who require […]
NBE pauses independent forex bureau licensing pending evaluation
https://www.thereporterethiopia.com/43238 Business NBE pauses independent forex bureau licensing pending evaluation By Helen Tesfaye January 4, 2025 Five firms licensed in October Regulators at the National Bank of Ethiopia (NBE) are no longer processing license requests for new applicants seeking to get involved in the forex trading business. In early October 2024, the central bank announced […]
Railway Corp seeks int’l partners to resume stalled Awash-Hara Gebeya project
Business Railway Corp seeks int’l partners to resume stalled Awash-Hara Gebeya project By Nardos Yoseph January 4, 2025 Arbitration case with Turkish contractor remains unsettled The Ethiopian Railways Corporation (ERC) has invited international bidders to submit expressions of interest for the resumption of a rail project that is at the heart of a heated arbitration […]
Scientists hail impact of Ethiopia’s Lucy fossil on understanding humans – Voice of America 02:57
Africa Scientists hail impact of Ethiopia’s Lucy fossil on understanding humans January 04, 2025 2:45 AM WASHINGTON — On a sunny Sunday morning along the Awash River in the small Ethiopian town of Hadar, a newly minted Ph.D. from the University of Chicago uncovered a fossil-rich site that would redefine human history. Fossil hunting in […]