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Semafor World Economy

Samuel Getachew

Samuel Getachew

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Ethiopia’s central bank governor quits

Mamo Mihretu, the central bank governor, is credited with executing the government’s plans to liberalize the country’s economy.
Ethiopia’s Central Bank Governor Mamo MihretuElizabeth Frantz/Reuters

Ethiopia’s state-owned Ethio Telecom records lackluster IPO

The mobile operator sold only 10.7% of shares in its initial public offering aimed at boosting the country’s struggling economy.
Ethio Telecom Chief Executive Officer Frehiwot Tamiru addresses the media during the six-months share sale amount announcement in Addis Ababa on April 25, 2025. Tiksa Negeri/Reuters

Foreign flower firms flee Ethiopia as Amhara conflict intensifies

Their exodus is a drain on Addis Ababa’s lucrative cut-flower industry.
A view of the “packhouse” where flowers are de-leafed and boxed for export in Addis Ababa, Feb. 12, 2008.Michael Tsegaye/File Photo/Reuters

Dangote injects $400M to expand Ethiopia cement operations

Africa’s richest man says the country is one of his company’s most promising investments.
Nigerian entrepreneur Aliko Dangote.Nigerian entrepreneur Aliko Dangote. Ludovic Marin/File Photo/Reuters.

Ethiopia banks on new stock market to lure investments, revive economy

So far only Wegagen Bank, a mid-sized lender based in Addis Ababa, has listed.
Delegates review a screen during the launching ceremony of the Ethiopian Security Exchange stock market in Addis Ababa, Ethiopia, January 10, 2025.Tiksa Negeri/Reuters

Predictions for Africa in 2025

Thought leaders told Semafor Africa what they expect to be the dominant issues across the continent this year.
Joey Pfeifer/Semafor

Ethiopian lawmakers choose new president

Sahle-Work Zewde, a former diplomat who became Ethiopia’s first female in 2018, has been replaced by the foreign minister, Taye Atskeselassie.

WHO chief urges action on mpox vaccines in Africa

Pharmaceutical giants and rich nations need to collaborate with African countries to improve access to mpox vaccines, Tedros Adhanom Ghebreyesus told Semafor Africa.

Ethiopia’s university admissions have plunged as reforms take hold

Only 5.4% of Ethiopia’s high school students passed this year’s university entrance exams after reforms were implemented to raise standards.

Ethiopia’s central bank governor calls currency float ‘transformative’

The policy switch enabled Addis Ababa to secure loans from the International Monetary Fund and the World Bank.

Ethiopia floats its currency in a bid to secure loans

Ethiopia has allowed its currency to be traded on the open market instead of at a fixed rate as part of reforms aimed at securing loans from international lenders.

Families of Ethiopia crash victims slam Boeing’s US plea deal

Boeing pleaded guilty to a criminal fraud conspiracy charge in a deal that has sparked anger among relatives of people killed in the Ethiopian Airlines Flight 302 crash five years ago.

Ethiopia says it’s ready for foreign firms but investors seem reluctant

Ethiopia is expected to approve a bill that would pave the way for increased foreign ownership in its banking sector.

Ethiopia’s transition to green mobility encounters headwinds amid economic slowdown

Ethiopia has inaugurated its biggest electric vehicle factory as part of an ambitious strategy to turn the country into a leading player in green mobility on the continent — but its plans face economic headwinds.

Ethiopia bets on property ownership offer to attract foreign investors

Ethiopia’s plan to allow foreigners to buy real estate in the country for the first time is the latest move aimed at opening up its beleaguered economy and attracting foreign investment.

Ethiopian bank sets deadline for $40 million withdrawn illegally in ATM glitch

The bank said it plans to start posting names and images of the perpetrators as a way to force them to return the funds, in addition to pursuing legal avenues.

Ethiopia’s pharmacies are running short of drugs due to its forex crisis

Ethiopia is grappling with a chronic foreign currency deficit that has made it hard to secure the dollars needed to import lifesaving medicine.

Ethiopia bids to be an African medical tourism hub but its health system is struggling

Ethiopia hopes to turn Addis Ababa into an African medical tourism hub with a $400 million hospital complex but critics say the plan doesn’t address the needs of most people in a country with a crumbling health system.
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