Addis Ababa, Ethiopia (27 May 2023) The Addis Ababa University 4-kilo campus has become the first in higher education to inaugurate a smart classroom in Ethiopia. Launched on May 26, 2023, this classroom is expected to serve as a stepping stone for implementing similar classrooms in universities across the nation. This pioneering initiative, developed in collaboration with Ethio Telecom and the Ministry of Education, has the potential to revolutionize the way we approach and experience learning. The smart classroom, equipped with a range of features and functionalities, empowers both teachers and students. It enables: Online teaching, Live classes, and Course…
Author: Hanna Tesfaye
Hanna Tesfaye
Hanna is an aspiring economist in her final year at Addis Ababa University. She has written hundreds of insightful daily stories, analyses, and features about the Ethiopian economy and beyond.
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Addis Ababa, Ethiopia (25 May 2023) The Gillgel Gibe 1 hydropower station, operated by Ethiopian Electric Power, has generated 701.6 gigawatt-hours of electricity during the nine months of the fiscal year, according to recent reports. This significant milestone indicates that the generating station has accomplished 90.3% of its planned target, producing 701.6 gigawatt-hours of electricity out of the intended 776.8 gigawatt-hours within the nine-month period. Furthermore, this year’s electricity generation surpasses that of the same period last year by 40 gigawatts or 2.8%. The Gibe 1 hydropower station, which began operations in 1996 E.C., was the first facility of its…
Addis Ababa, Ethiopia (25 May 2023) The Ethio-Djibouti Railway S.C (EDR) is driving regional socioeconomic integration and trade development between Ethiopia and Djibouti. Despite facing challenges from the pandemic and other adversities, the operational activities of the Ethio-Djibouti railway service have been crucial in revitalizing the logistics and transportation sector, with consistent annual progress ranging from 35% to 41%. Over the past nine months alone, the railway has efficiently transported a remarkable 1.8 million tons of commodities, including critical goods such as coffee, fertilizer, wheat, and edible oil. The railway also recently celebrated the successful arrival of 63 vehicles at…
Addis Ababa, Ethiopia (24 May 2023) The Ethiopian government has initiated the process of privatizing eight state-owned sugar enterprises, further showcasing a significant shift in its approach to public assets ownership. The Ethiopian Sugar Industry Group (ESIG) has 12 sugar enterprises with an annual total sugar production capacity of 450,000 MT. The 8 sugar enterprises available for sale are Arjo Dedessa, Kessem, Omo Kuraz 1, Omo Kuraz 2, Omo Kuraz 3, Omo Kuraz 5, Tana Beles, and Tendaho. Ministry of Finance and Ethiopian Investment Holding have officially issued a Request for Proposal (RFP) to invite potential investors to participate in…
Addis Ababa, Ethiopia (24 May 2023) The recent comprehensive study conducted in Addis Ababa to reform the city’s house tax rates reveals significant figures that provide valuable insights. To begin with, it is estimated that there are approximately one million houses in Addis Ababa. Out of this vast number, only around 183,000 houses are subject to house tax. Interestingly, a considerable portion of house owners, around 2,500, pay an annual tax amounting to less than a single birr. The data also indicates that 12% of house owners pay less than 10 Birr in tax. This reveals that a significant number…
Addis Ababa, Ethiopia (24 May 2023) Prince Alemayehu’s tragic story began when he was taken to the United Kingdom at the tender age of seven. Orphaned after his mother’s untimely death during the arduous journey, the young prince spent a decade in exile before his unfortunate demise at the age of 18 in 1879. Today, his family seeks to honor his memory by repatriating his remains to Ethiopia. However, Buckingham Palace released a statement expressing concerns that the removal of Prince Alemayehu’s remains could disturb the resting places of others interred in the catacombs of St George’s Chapel at Windsor…
Addis Ababa, Ethiopia (23 May 2023) In a recent development, the Excise Tax Proclamation underwent amendments that have resulted in noteworthy changes to the excise tax rates for select items. The decree aims to streamline the tax system, expand the tax base, and align the tax rates with economic considerations and became effective as of April 27, 2023. Let’s delve into the insights: Items with Reduced Excise Tax Charges: Previously subject to a high excise tax rate of 60%, ethyl alcohol has witnessed a remarkable adjustment. The new excise tax rate for ethyl alcohol now stands at 10%, reflecting a…
Addis Ababa, Ethiopia (22 May 2023) The National Bank of Ethiopia (NBE) has recently released a snapshot of the country’s financial sector growth up to March 2023, revealing noteworthy developments and expanding opportunities for Ethiopians. For starters, Ethiopia has experienced a significant 23% increase in the number of financial institutions, surging from 84 in March 2022 to 109 in March 2023. These institutions include 31 banks, 44 microfinance institutions (MFIs), 18 insurance companies, 6 capital goods finance companies (CGFCs), and 10 payment instrument insurers and payment system operators (PITs & PSOs). Among the institutions, banks have the highest number of…
Addis Ababa, Ethiopia (22 May 2023) Ethiopia is making steady progress in its telecommunications sector as it prepares to issue an international tender in June for the licensing of a third telecom operator. The Ethiopian Communication Authority (ECA) has confirmed that the final preparations are underway to award the license to a deserving candidate. Ethiopia’s telecommunications industry was a monopoly of the state-owned Ethio Telecom until October 2022. This move is part of the government’s ongoing homegrown economic reform, which aims to introduce competent international operators to the telecom market. As a significant step forward, Ethiopia granted the Unified Telecommunications…
Addis Ababa, Ethiopia (20 May 2023) LakiPay, a recently launched payment solution provider, has signed a partnership agreement with the Ethiopia Tourism and Hotel Market Association, representing over 2,500 hotels across the country. This collaboration empowers hotels to leverage LakiPay’s comprehensive payment system, enabling them to accept both local and international payments while efficiently managing their operations. With the support of LakiPay’s multi-language mobile application, which includes Amharic, Oromifa, Tigrigna, and English, hotels can ensure accessibility and user-friendliness for their diverse customer base. By embracing LakiPay’s innovative payment technologies, hotels in Ethiopia are poised to enhance their financial capabilities and…