May 24-30, 2025
Inflation down to 13%; MIDROC to produce calcium carbonate; Israel imports cholera; M-pox in Moyale; EHPM lays out pre-conditions; Parliament bans The Reporter; Buy sheep on Zemen Gebeya!
Business & Finance
Ethiopian Airlines (ETH) earned $5.6 billion in revenue during the first 9 months of this fiscal year, representing an 8% year-on-year growth.
Ethio Telecom’s Zemen Gebeya, launched only 2 weeks ago, has already engaged over 2.4 million customers & 80 merchants offering products ranging from sheep to smartphones.
Canada’s AJN Resources signed a conditional Heads of Agreement (HOA) with Godu General Trading to acquire up to a 70% stake in the Okote Gold Project.
MIDROC inaugurated a new factory in the Afar region that is set to annually produce 17,000 tons of coated calcium carbonate.
JAMI & Arifpay Financial Technologies have officially launched Ethiopia’s first multi-currency digital tipping platform.
Ethio Life & General Insurance Share Company unveiled Lumina, a new digital platform enabling customers to buy policies online.
Kerchanse Group initiated a program to distribute 3 million improved seedlings to farmers in southern Ethiopia in a bid to promote sustainable coffee farming.
Japan’s Dodai Manufacturing PLC secured approval to operate its electric motorbike venture in Addis Ababa.
Safaricom CEO Peter Ndegwa has been appointed as the Board Chairman of Safaricom Ethiopia.
The Oromia Investment & Industry Bureau will hold a high-profile investment forum in Addis Ababa on May 31, offering various incentives to investors.
The Accounting & Auditing Board of Ethiopia warned insurers that failure to adopt International Financial Reporting Standards could lead to prosecution.
The British International Freight Association signed a May 27 agreement with the Ethiopian Freight Forwarders Shipping Association. Meanwhile, the Maritime Authority launched a free training program for 100 recent female graduates.
Economy & Development
The IMF is expected to approve the third review of Ethiopia’s $3.4 billion loan & disburse another $260 million, despite delays in finalizing the staff-level agreement, as Ethiopia “exceeds reform targets”.
The gap between the official & parallel market forex rates was around ETB 24 this week as the official rate averaged at ETB 133 per dollar while the black market rate averaged around ETB 158. The Birr has depreciated by 128% since the reform.
A May 21 EEA report revealed external debt has hit $62.5 billion, equivalent to $575.5 per citizen. The MOF criticized the report as a “misrepresentation”, saying “debt per capita is not a relevant measure of public finance status.” Ethiopia’s GDP per capita currently stands at $1,070.
NBE Governor Mamo Mihretu announced that inflation rates dropped from 30% to 13% since the macroeconomic reform while discussing the reform with the IMF Africa Department Head during the IMF-World Bank Spring meetings.
The African Development Bank (AfDB) forecasted 7% GDP growth in 2025. Nominal GDP had decreased by 50% following the macroeconomic reform. Ethiopia is pursuing fresh budgetary support during the AfDB Annual Meetings.
A recent ActionAid report urged the government to abandon IMF-prescribed austerity measures amid a rapid deterioration of public education and health services. Find the full report here.
A May 21 EEA report exposed deepening fiscal strains, declining productivity & worsening living standards amidst soaring debt, persistent inflation & weakening governance.
The NBE’s new National Agri-Finance Implementation Roadmap (NAFIR) aims to overhaul the agricultural finance system and address deep-rooted structural gaps.
Social Movements
Members of the Ethiopian Health Professionals Movement (EHPM) held preliminary talks with representatives from the Ministry of Health (MoH) on May 23 as the nationwide strike entered its third week. Learn more about the plight of health workers here, here, and here.
EHPM laid out 4 pre-conditions for formal negotiations during the preliminary talks, including the release of detained colleagues, & the reversal of "punitive measures taken across hospitals” in relation to the ongoing strike. At least 81 health professionals are currently detained. Find a full list here.
A federal court granted police an additional 8 days to continue investigating 9 healthcare professionals who are being detained in connection with the ongoing nationwide strike.
Society & Human Rights
The Committee to Protect Journalists (CPJ) condemned the May 22 conviction of journalist Ahmed Abdi Omar, who was sentenced to 2 years in prison for ‘disinformation & public incitement” for investigating police brutality.
Journalists from The Reporter have been denied entry to the House of People’s Representatives (HOPR) to cover parliamentary proceedings since May 14, with no official explanation for the sudden ban.
US Senator Marco Rubio congratulated Ethiopia for “34 years of independence” on Downfall of the Derg Day. The holiday was only observed in the Tigray region this year after being removed from the list of national holidays last year.
A study by the Distributed AI Research Institute found that social media platforms “failed to adequately moderate genocidal content” during the 2020-22 war.
Scholars, activists & community leaders from launched a new, nonpartisan CSO in the USA to address discrimination against communities in southern Ethiopia
Governance & Corruption
The Council of Ministers (CoM) approved the Medium-Term Macroeconomic & Fiscal Framework for 2026-30 in its 46th Regular Meeting.
The CoM approved a revised Expatriate Employment Bill on May 29 in a bid to ensure workers’ rights & safety in foreign employment amidst an increase in dangerous migration. Learn more here.
A bill tabled to Parliament seeks to allow foreign nationals to lease land & own residential properties, while prohibiting them from borrowing money or raising capital from local banks.
Parliament is reviewing 2 draft bills, 1 of which proposes to impose payments for ecosystem services while the other aims to reform agricultural extensions systems.
A draft bill by the Coffee & Tea Authority proposes to increase the minimum required capital for obtaining a coffee export license ten-fold, from ETB 1.5 million to 15 million.
The Ministry of Water & Energy (MOWE) said Ethiopia has managed to satisfy 76% of its national water demand this year despite persistent gaps in water supply across several areas, especially in Shashamene.
CBE signed a May 23 MOU with the Addis Ababa City Administration to finance housing worth ETB 120 billion for over 41,0000 public servants under the 25/75 cost-sharing program, with priority given to teachers.
Courts in Mekelle city, Tigray region agreed to resume operations on May 21 after receiving security guarantees from Tigray Interim Administration (TIA) officials.
Traces of internationally-banned pesticides have been found in avocados amidst rising pesticide use, poor enforcement & widespread gaps in farmer training.
Ethiopia launched an Insurance Women’s Association (EthIWA) and unveiled plans to create a dedicated regulatory body for the insurance sector during the African Insurance Institute’s 51st Annual Conference & General Assembly held on May 26
Humanitarian Needs
MOH & the Ethiopian Public Health Institute (EPHI) confirmed Ethiopia’s first M-Pox case on May 25, as an infant tested positive in Moyale, Oromia region.
WFP raised alarms over further reduction of food assistance to vulnerable Ethiopians due to funding constraints.
UNAIDS Ethiopia warned that funding cuts to HIV programs significantly impacted services & risk reversing years of progress in the fight against HIV.
A sudden USAID funding cut has stalled conservation efforts in the Tama Community Conservation Area (TCCA) in the South Omo zone, South region.
IGAD announced above-average rainfall during the upcoming rainy season & urged authorities to prepare in advance for flooding, particularly around the Awash River, as well as in urban areas.
A new project supported by CORHA & launched on May 28 aims to improve access to reproductive & family planning services in the Afar & Somali regions.
The Israeli Ministry of Health confirmed 3 cholera cases, with 2 first infected in Ethiopia while the third fell ill after drinking water brought to Israel from a contaminated well in Ethiopia.
Politics
The National Dialogue Commission (NDC) urged the Tigray Interim Administration (TIA), opposition parties & armed groups to participate in the National Dialogue. The NDC has reportedly engaged over 200,000 people & collected over 1,700 agendas since its conception.
The National Election Board of Ethiopia (NEBE) granted a temporary registration certificate to "Tigray Democratic Solidarity”, a new political party founded by former TIA President Getachew Reda, just weeks after revoking TPLF’s legal status.
TIA President Gen. Tadesse Werede said internal divisions pose a serious threat to security, stability & economic recovery following the 2020-22 war. Learn more about political dynamics in Tigray in this op-ed and this interview
The TIA has requested an explanation from federal authorities after trucks transporting goods to Tigray were stopped at checkpoints in the Afar & Amhara regions, sparking criticism & concern from opposition parties & others.
An EDF checkpoint on the Zalambessa-Adigrat road has reportedly been removed since May 18. However, Eritrea remains in control of several areas including Badme, Rama & Zalambessa. Learn more about Eri-Tigrayan relations here.
A leaked 66-page internal TIA report has unmasked human trafficking networks & confirmed the involvement of high-level TPLF & military officials. Learn more here.
Conflict & Security
The Federal Police Commissioner announced that national security has “significantly improved” during a May 29 press briefing. Learn more about the security situation here.
The Tana Transporters Association reported that 32 truck drivers have been abducted in the conflict-afflicted Amhara region since May 18.
18 people were killed & a dozen others injured in the Kemashi zone, Benishangul Gumuz region, following a May 21 attack by gunmen allegedly linked to the OLA.
6 people, including 2 students, were killed & 9 others injured in a May 25 cross-border attack by South Sudanese gunmen in the Anuak zone, Gambella region.
Geopolitics
The 3rd AU-EU Ministerial Meeting took place on May 21, reaffirming commitments outlined in the Joint Vision for 2030 agenda & ending with an agreement to enhance collaboration in peace, security & governance.
The Institute for Foreign Affairs held its 3rd Red Sea and Gulf of Aden Countries Dialogue Forum on May 23 under the theme "Navigating Gulf-Horn Economic and Security Cooperation: Opportunities, Challenges, and Future Directions”. Learn more about geopolitical considerations around the Red Sea here.
Eritrean President Isaias Afeworki accused Ethiopia of becoming an agent for war-mongering external forces in a May 24 speech for Eritrea’s 34th Independence Day, raising points ranging from red sea access to interethnic tensions.
Over 1,500 South Sudanese students in Ethiopia are facing expatriation issues as residency fees have unexpectedly tripled from $10 per day to $30.
A high-level military delegation led by the ENDF Chief of Staff met with senior Russian defense officials in Moscow this week to discuss regional security & military cooperation.