Top Stories of the Week
Remote Workers, Freelancers Face New Tax Under Draft Law
ESX Unveils Mobile App Aimed at Expanding Retail Investor Base
Ethiopia Plans 3,000-seat BPO Hub to Draw Global Investors
Ethio Telecom, Ericsson Extend Partnership with New Network Expansion Deal
Authority Suspends Fine Bottled Water Over Quality Breach
Remote Workers, Freelancers Face New Tax Under Draft Law
Ethiopia’s Ministry of Finance has drafted a new regulation that would impose income tax on earnings generated through remote work and freelancing.
The proposed rule seeks to implement provisions in the revised Income Tax Proclamation and would require Ethiopian residents earning income through digital platforms or remote work arrangements to pay tax on those earnings. Read more.
Zemen Insurance Appoints Frehiwot Alemayehu CEO
Zemen Insurance has named Frehiwot Alemayehu as its third Chief Executive Officer (CEO). Frehiwot brings nearly 19 years of experience in the insurance sector and previously served as Deputy CEO of Awash Insurance. Founded six years ago by 926 shareholders, Zemen Insurance has grown its paid-up capital to 415.3 million Br. Read more.
ESX Unveils Mobile App Aimed at Expanding Retail Investor Base
The Ethiopian Securities Exchange introduced a mobile and web-based platform that allows users to access market data, follow securities prices and trading activity, and connect with licensed intermediaries for investment services.
Dubbed 𝘕𝘦𝘸𝘢𝘺, it is designed to accommodate both first-time investors and more experienced market participants. The application is intended primarily as a technology gateway rather than a direct brokerage service. Read more.
Green Intentions, Grey Areas: Ethiopia’s Plastic Ban Meets Market Reality
Plastic once accounted for just 3% of urban solid waste in Ethiopia. Now it is at the center of a national reckoning over policy speed, industrial readiness, and the real cost of going green. Read more.
Ethiopia Plans 3,000-seat BPO Hub to Draw Global Investors
Ethiopian Investment Holding has signed an agreement with Elmi Olindo Contractors Plc to begin construction of a 3,000-seat BPO hub, a $25.56M flagship investment aimed at positioning Ethiopia as a destination for global outsourcing services.
The project aims to diversify the economy, strengthen SOE performance, and attract foreign-exchange-generating industries, including customer support, back-office operations, and IT-enabled services. Read more.
Ethiopia Nears Approval of Foreign Portfolio Investment Rules to Attract Global Capital
The Ethiopian Capital Market Authority (ECMA) is close to finalizing the Foreign Portfolio Investment (FPI) directive, a regulatory framework that could open Ethiopia’s capital market to international investors for the first time. The draft is currently under review by the Council of Ministers and is being described by officials as a “critical piece” in the country’s financial liberalization agenda. Read more.
Ethio Telecom, Ericsson Extend Partnership with New Network Expansion Deal
Ethio telecom and Sweden-based telecommunications giant Ericsson are partnering on a network expansion project that will bring 4G-LTE to more than 100 towns across Ethiopia.
CEO Frehiwot Tamiru inked the agreement at a global telecom trade show in Barcelona, seeking to expand, upgrade, and deploy new network capabilities at 1,500 mobile sites, according to a statement issued by the state-owned giant. Read more.
Ethiopian Petroleum Supply Enterprise Generates 457 Billion Birr in FY 2024/25
The state-owned Ethiopian Petroleum Supply Enterprise (EPSE) generated more than 457 billion Birr in revenue during the 2024/25 fiscal year, according to newly released audited financial statements. The enterprise also drew more than 40 billion Birr from the fuel price stabilization fund to offset rising fuel supply costs. Read more.
Authority Suspends Fine Bottled Water Over Quality Breach
The Ethiopian Food & Drug Authority (EFDA), led by Heran Gerba, has suspended ASSH Packed Water Manufacturing, the producer of Fine Bottled Water.
The authority ordered the company to immediately halt all manufacturing and distribution of its products. The suspension follows EFDA inspections, which reportedly uncovered quality concerns and non-compliance with Good Manufacturing Practices. Read more.