Ethiopia

Gabriel Magesh sought for using expired drugs

October 29, 2025 Abebe Gelaw

Gabriel Magesh is being sought in Ethiopia for using expired drugs. This news was reported by Fana Media Corporation.

Infinix Ethiopia partners with over-80-year-old college

Infinix Ethiopia has signed a memorandum of understanding with Addis Ababa Practical Arts Polytechnic College to establish an innovation center within the over-80-year-old institution. The partnership aims to provide practical training for students and update teachers on new technology trends.

Contest for sea access intensifies in the Horn of Africa

Ethiopia's January 2024 memorandum with Somaliland has ignited a geopolitical contest in the Horn of Africa over sea access. The deal aims to reduce Ethiopia's dependence on Djibouti but is viewed by Somalia as a violation of its sovereignty. The dispute has drawn in Turkey, Gulf states, and global powers, escalating regional tensions.

Breaking the speculative spell in Addis Ababa's housing market

Owning a home in Addis Ababa imposes heavy burdens due to high bank loans and market pressures. Buyers commit to 20-year mortgages with 85,000 Birr monthly payments, while similar homes rent for just 15,000 or 20,000 Birr. This systemic issue could be alleviated by the emergence of a formal capital market.

Nib International Bank reports 2.9 billion Br loss from forex revaluation

October 25, 2025 Abebe Gelaw

Nib International Bank S.C. announced a 2.9 billion Br loss at its annual shareholders meeting, mainly due to foreign exchange revaluation losses amid Ethiopia's economic reforms. The bank also paid 348.4 million Br in penalties for liquidity issues and payment violations. Despite settling major debts, mismanagement from previous leadership exacerbated the financial strain.