Ethiopian Business Review | EBR

New Edition: EBR Volume 134! ⚖️ Financial Sector on the Brink: Explore the impact of foreign banks entering the market and the merging of domestic institutions. 🎤 Exclusive Interview: Gain insights from Kifflé Yohannes Abebe, CEO and co-founder, on navigating Ethiopia’s financial landscape. 🌱 Beyond the Hype: Delve into the complexities of GMO adoption in Ethiopia and its implications for agriculture. 🤖 AI in Advertising: Discover how the rise of AI models is reshaping the advertising industry and what it means for businesses. ⚽️ Youth Football Academy: Witness how Ethiopia's youth football academy is working to break barriers and gain international recognition. 🎨 Art and Life: Reflect on the theme of "Short-Lived Fame or Lasting Legacy?" in the Ethiopian art scene. 📖 Now available at leading stores. 📞 Call +251 96 141 4141.

𝐂𝐫𝐚𝐟𝐭𝐢𝐧𝐠 𝐋𝐨𝐯𝐞 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐒𝐨𝐧𝐠𝐬 𝑻𝒉𝒆 𝑺𝒕𝒐𝒓𝒚 𝒐𝒇 𝑴𝒊𝒄𝒉𝒂𝒆𝒍 𝑩𝒆𝒍𝒂𝒚𝒏𝒆𝒉 Michael Belayneh, a celebrated Ethiopian singer born in Addis Ababa, has captivated audiences with his soulful melodies and positive lyrics. His musical journey began at Yared Music School, where he honed his talents before joining Medina Band and launching a successful solo career with his debut album, Ante Godana, in 2005. Known for blending traditional and contemporary styles, Michael’s work reflects a deep emotional connection with his audience. His later albums, including Nafkot Ena Fikir, have garnered critical acclaim, showcasing his ability to evoke nostalgia and love through music. As he embraces the evolving landscape of the music industry, Michael remains committed to creating art that resonates deeply, inspiring a new generation of listeners while celebrating the rich cultural heritage of Ethiopia. EBR’s Mesfin Feleke sat for an exclusive interview with the singer, delving into his artistic journey and insights, as the signer’s latest album, “And Qal”, [One Word], rocks the music industry by storm. Read more: https://lnkd.in/eEChGw2v

𝐄𝐭𝐡𝐢𝐨𝐩𝐢𝐚'𝐬 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐀 𝐘𝐞𝐚𝐫 𝐨𝐟 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 The past year in Ethiopia has been a rollercoaster for the real estate sector, marked by significant challenges and opportunities. The credit cap imposed by the Central Bank and the introduction of a floating exchange rate have significantly disrupted the market, impacting the buying power and investment decisions of stakeholders. On the other hand, the government’s plan to open the sector and allow foreigners to own properties has introduced new possibilities. Despite these challenges, the industry has not only weathered the storm but also shown remarkable resilience and adaptability. Innovative strategies from developers and a growing focus on foreign investment offer hope for a more prosperous future. Read more: https://lnkd.in/egMZGc4h

𝐄𝐭𝐡𝐢𝐨𝐩𝐢𝐚'𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐄𝐱𝐩𝐞𝐫𝐢𝐦𝐞𝐧𝐭 𝑭𝒓𝒂𝒏𝒄𝒐 𝑽𝒂𝒍𝒖𝒕𝒂 & 𝒕𝒉𝒆 𝑷𝒂𝒕𝒉 𝒕𝒐 𝑴𝒂𝒓𝒌𝒆𝒕 𝑳𝒊𝒃𝒆𝒓𝒂𝒍𝒊𝒔𝒂𝒕𝒊𝒐𝒏 Ethiopia’s recent liberalisation of its foreign exchange regime has significantly changed its economic landscape. One of the most notable developments is the expanded use of Franco Valuta imports. This scheme, which allows importers to settle their obligations with foreign currency outside the domestic banking system, has been controversial. While it offers businesses greater flexibility and potentially relieves pressure on the central bank’s foreign exchange reserves, concerns remain about its potential impact on inflation, parallel exchange markets, and illicit financial flows, reports EBR’s Munir Shemsu. Read more: https://lnkd.in/ebYzbV9D

𝐓𝐡𝐞 𝐇𝐢𝐠𝐡 𝐂𝐨𝐬𝐭 𝐨𝐟 𝐁𝐞𝐚𝐮𝐭𝐲 𝑬𝒕𝒉𝒊𝒐𝒑𝒊𝒂'𝒔 𝑬𝒄𝒐𝒏𝒐𝒎𝒊𝒄 𝑫𝒊𝒍𝒆𝒎𝒎𝒂 Addis Ababa’s ambitious beautification projects have undeniably transformed the city, creating a more visually appealing urban landscape. Yet, these aesthetic improvements raise critical questions about their economic feasibility and impact on the city’s residents. While the gardens, pedestrian walkways, cycle lanes and recreational centres undoubtedly enhance the city’s quality of life, they come at a high cost. With soaring inflation, poverty, and a struggling economy, allocating a large amount of resources to such projects raises concerns about their prioritization. Critics argue that investing in the economy’s productive sector is more crucial to addressing supply-side constraints that have plagued Ethiopia for decades. City residents also ask about the fairness of the running water shortages in many neighbourhoods while the city greening projects enjoy all-day watering. The question becomes: Is the pursuit of beauty at the expense of people’s basic needs? Many small businesses, particularly those operating in the informal sector, are already struggling to survive. Beautification projects have displaced such businesses in many places, further exacerbating their economic hardships. As Ethiopia transitions towards market-driven policies, the prioritization of grand projects will face increased scrutiny. That’s why finding a harmonious balance between aesthetic improvements and economic development is crucial. While enhancing the city’s appearance is desirable, it should not come at the cost of the people’s livelihoods or the overall economic well-being. A balanced approach to urban development is critical. The challenge lies in ensuring that beautification projects enhance the city’s appearance and contribute to its economic growth and development. These projects can stimulate economic activity and prosperity by incorporating elements that support local businesses, create jobs, and improve infrastructure. EBR’s Munir Shemsu navigates the city-wide renovation projects and spoke with small business owners and economists to understand what needs to be done to balance aesthetics and economic viability to make Addis Ababa more beautiful and prosperous. Read more: https://lnkd.in/eNrYd9nM

𝐄𝐭𝐡𝐬𝐰𝐢𝐭𝐜𝐡'𝐬 𝐘i𝐥𝐞𝐛𝐞𝐬 𝐀𝐝𝐝𝐢𝐬 𝑷𝒂𝒗𝒊𝒏𝒈 𝒕𝒉𝒆 𝑾𝒂𝒚 𝒇𝒐𝒓 𝑬𝒕𝒉𝒊𝒐𝒑𝒊𝒂'𝒔 𝑫𝒊𝒈𝒊𝒕𝒂𝒍 𝑭𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝑹𝒆𝒗𝒐𝒍𝒖𝒕𝒊𝒐𝒏 EthSwitch, Ethiopia’s national switch, plays a pivotal role in fostering interoperability and facilitating seamless digital finance and payment settlement. Led by CEO Yilebes Addis, a seasoned fintech executive with a strong ICT background, EthSwitch has driven Ethiopia’s fintech landscape forward. With over two decades of experience in banking, technology, and fintech, Yilebes brings a wealth of expertise to his role. Before joining EthSwitch, he held key leadership positions at Kifiya Financial Technology and the Commercial Bank of Ethiopia, overseeing IT projects and training initiatives. His academic credentials, including an MSc and BSc in Computer Science from Addis Ababa University, further solidify his technical prowess. Since its establishment in 2011, EthSwitch has made significant strides in advancing financial inclusion. Key innovations such as universal ATM access and a new QR payment system have contributed to expanding access to financial services for Ethiopians. Despite the challenges posed by varying IT maturity among financial institutions, EthSwitch remains optimistic about the future of digital payments in Ethiopia. By fostering a favourable regulatory environment and forging strategic partnerships, EthSwitch aims to position Ethiopia as a competitive hub for digital payments. This vision, the company’s track record of innovation, and Yilebes’ leadership instil optimism among industry stakeholders. Under Yilebes’s leadership, EtSwitch’s profit before tax recorded ETB 534.53 million in 2022/23, a 172% increase compared to the previous year’s performance. The company continued its robust performance with a profit of ETB 1.06 billion in the just-concluded fiscal year. EBR’s Eden Teshome has this brief conversation with the seasoned Fintech Executive who has successfully transitioned from technical roles to strategic leadership positions in fintech. Read more: https://lnkd.in/eTYHxPUQ

𝐁𝐞𝐲𝐨𝐧𝐝 𝐁𝐚𝐜𝐤 𝐏𝐚𝐢𝐧 𝑫𝒓. 𝑺𝒆𝒍𝒂𝒎 𝑨𝒌𝒍𝒊𝒍𝒖’𝒔 𝑯𝒐𝒍𝒊𝒔𝒕𝒊𝒄 𝑨𝒑𝒑𝒓𝒐𝒂𝒄𝒉 𝒕𝒐 𝑾𝒆𝒍𝒍𝒏𝒆𝒔𝒔 Dr. Selam Aklilu is a renowned chiropractor and esteemed advocate for wellness. With a Bachelor of Science in Chiropractic and Medicine, and a Doctor of Medicine degree, she has dedicated over two decades to chiropractic care in the United States and Ethiopia. As the CEO of 1st Spine Clinic and the Founder of Wellness and Medical Services PLC, Dr Selam is deeply passionate about holistic healthcare. In addition to her clinical work, she provides training and consultations on wellness-related matters and has founded the monthly Tena Yestelen magazine. This magazine, which translates to ‘Our Health’ in Amharic, is a platform for sharing health tips, success stories, and the latest developments in the field of holistic healthcare. EBR’s Dr. Brook Genene sat down with her to learn about her work Read more: https://lnkd.in/eUTvs__G

Behind the Microphone Mensur Abdulkeni's Legacy in Ethiopian Sports Media Mensur Abdulkeni is a renowned Ethiopian football journalist, producer, and radio host. He is the producer and football analyst of a daily radio show called Bisrat Sport on Bisrat FM 101.1, which airs daily except Saturdays. Mensur also serves as a match-day analyst for live football games on the same station alongside popular commentator Messle Mengistu. In a career spanning more than two decades, Mensur has served as the founder and editor of Ethio Sports newspaper and, more recently, as the editor-in-chief of the French TV channel Canal+ Sport Ethiopia. EBR’s Dr. Brook Genene recently spoke with one of the best football journalists in the country. Read more: https://lnkd.in/eD4pWGip

Country Trading PLC, a company with 35 years of experience in real estate, trading, manufacturing, electronics, and duty-free retail, has opened its second duty-free store, Millennium Duty-Free, at the Skylight Hotel in Addis Ababa. https://lnkd.in/egbv77Ma

Ethiopia to Host Major Animal Husbandry Expo, Attracting Global Leaders From October 31 to November 2, 2024, the Millennium Hall in Addis Ababa, Ethiopia, will host a significant event: the 13th Ethio Poultry Expo (ETHIOPEX), the 9th Africa Livestock Exhibition and Congress (ALEC), the 4th Apiculture and Aquaculture Ethiopia Trade Show, and the newly launched Bio-Energy Trade Show. Organized by Prana Events in collaboration with the Sudanese Expo Team for Service Co., Ltd, the expo aims to showcase the latest technologies and solutions in the animal husbandry sector. Read more: https://lnkd.in/gZQabYpq