The Addis Ababa City Administration has expanded the legal reach of public asset audits, allowing investigators to examine records dating back up to 10 years in cases of suspected misconduct, as it rolls out a stricter oversight framework for government property management. The new system, introduced under Directive No 190/2026 and signed by Yesuf Ebrahim […]

The Ministry of Trade and Regional Integration has introduced a long-awaited warehouse receipt system that will allow farmers and cooperative unions to use stored agricultural products as collateral for bank loans, in a move aimed at easing financing constraints across the agricultural sector. The new regulation establishes a formal Warehouse Receipt System (WRS), enabling farmers […]

The National Bank of Ethiopia (NBE) cancelled a planned 100 million US dollars in foreign-exchange auction on Tuesday due to unforeseen technical issues, postponing a sale that had been expected to inject hard currency into the country’s banking system amid persistent demand for dollars. NBE said the foreign-exchange auction scheduled for June 9 had been […]

Chinese beverage chain Luckin Coffee said cumulative sales from its non-coffee beverage business had surpassed 20 billion yuan as of May 31, 2026, as the company deepened sourcing operations in coffee-producing countries including Ethiopia to support its rapidly expanding beverage portfolio. The company said its global store network had exceeded 35,000 outlets, while 22 beverage […]

Ethiopia’s Council of Ministers has approved a draft federal budget of 2.34 trillion birr for the 2026/27 fiscal year and forwarded it to parliament, as the government seeks to sustain economic reforms and finance development priorities. The decision was made during the cabinet’s 56th regular meeting on Tuesday, where ministers also endorsed a medium-term macroeconomic […]

The Africa Centres for Disease Control and Prevention (Africa CDC) has secured a 220.6 million US dollars emergency financing package from the Pandemic Fund to strengthen efforts aimed at containing the Bundibugyo Ebola outbreak across Central and Eastern Africa. The funding will support a joint Africa CDC and World Health Organization continental preparedness and response […]

Ethiopia has unveiled a domestically developed probiotic starter culture designed to ferment milk more efficiently, a move officials say could help curb dairy imports and enhance food security. The Ethiopian Institute of Agricultural Research (EIAR) launched the product, named Etittuu, on Monday during an event marking World Milk Day. The culture enables pasteurized milk to […]

The National Bank of Ethiopia (NBE) said on Monday it will hold a special foreign-exchange auction worth 100 million U.S. dollars on June 9, offering commercial banks access to hard currency through its auction platform. According to the central bank, bids will be submitted between 10:00 a.m. and 12:00 noon through its CSD-based foreign-exchange auction […]