Fasika Tadesse

Ethiopia, Ādīs Ābeba Āstedader

Writer at Bloomberg News

Covering Ethiopia for @business| Formerly Editor-in-Chief @addis_fortune| Posts are mine and re-posts ≠ endorsements

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Articles

Ruling Party in Ethiopia’s Tigray Region Loses Legal Recognition

3 weeks ago | bloomberg.com | Fasika Tadesse

People walk in front of the head office of the Tigray People’s Liberation Front in Mekele, Ethiopia, in 2020. (Bloomberg) -- Ethiopia’s election board nullified its legal recognition of the party that rules the volatile northern Tigray region and waged a two-year war against the federal government amid ongoing divisions within its ranks.
Chinese Firms to Invest $1.75 Billion in Ethiopia Mining, Solar

3 weeks ago | bloomberg.com | Fasika Tadesse

(Bloomberg) -- Ethiopia expects five Chinese companies to invest a total of $1.75 billion in the East African nation, mainly in solar-cell manufacturing and mineral exploration, according to Finance Minister Ahmed Shide. Shanghai-listed CSI Solar Co., in which Canadian Solar Inc holds a majority stake, will spend $250 million on a plant producing solar modules and energy-storage products, while Sequoia Mining & Processing Plc plans to invest $600 million in coal exploration.
Ethiopia Expects to Sign Deal With Official Creditors by June

3 weeks ago | news.bloomberglaw.com | Fasika Tadesse

A draft memorandum of understanding on rescheduling of $8.4 billion under the G20 Common Framework is currently under review by both parties, State Minister for Finance Eyob Tekalign says in an interview.
Ethiopia Sells 10% in Its Maiden IPO That Was Open for 121 Days

1 month ago | news.bloomberglaw.com | Fasika Tadesse

Ethiopia raised 3.2 billion birr ($24 million) after selling 10% of the shares on offer in its maiden initial public offering that was open for more than four months. The nation sold 10.7 million shares in state-run Ethio Telecom for 300 birr each, the company said in a statement Friday. Ethiopia Investment Holdings, which controls 40 state-run companies including the telecom firm, planned to sell 100 million shares in a bid to raise 30 billion birr from the sale.
Ethiopia Sells 10% in Its Maiden IPO That Was Open for 121 Days

1 month ago | bloomberg.com | Fasika Tadesse

(Bloomberg) -- Ethiopia raised 3.2 billion birr ($24 million) after selling 10% of the shares on offer in its maiden initial public offering that was open for more than four months. The nation sold 10.7 million shares in state-run Ethio Telecom for 300 birr each, the company said in a statement Friday. Ethiopia Investment Holdings, which controls 40 state-run companies including the telecom firm, planned to sell 100 million shares in a bid to raise 30 billion birr from the sale.
Russia Expands Outreach for Youth Work Program Linked to Drone Production

1 month ago | bloomberg.com | Antony Sguazzin |Fasika Tadesse

On a Saturday afternoon earlier this month, about 60 people, young women and their parents, gathered in an auditorium at the University of Botswana to listen to several of their countrymen exhort them to pack up and move almost 6,000 miles (9,600 kilometers) away to the Republic of Tatarstan in Russia.
Ethiopian Premier Appoints New Tigray Leader to Defuse Tensions

1 month ago | bloomberg.com | Fasika Tadesse

Ethiopia appointed Tadesse Worede as interim president of the Tigray region in a bid to defuse tensions in the restive northern province. Tadesse, previously deputy president of Tigray, is aligned with a dissident faction of the Tigray People’s Liberation Front that had threatened to overthrow Getachew Reda, who’s been in charge of Tigray since 2022.
Ethiopia Leader Asks Tigray to Propose New Head to Ease Tensions

2 months ago | bloomberg.com | Fasika Tadesse

Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world For Customers Bloomberg Anywhere Remote Login Software Updates Manage Products and Account Information Support Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Company About Careers Inclusion at Bloomberg Tech at Bloomberg Philanthropy Sustainability Bloomberg London...
Ethiopia Keeps Benchmark Interest Rate at 15% to Curtail Elevated Inflation

2 months ago | bloomberg.com | Fasika Tadesse

Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world For Customers Bloomberg Anywhere Remote Login Software Updates Manage Products and Account Information Support Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Company About Careers Inclusion at Bloomberg Tech at Bloomberg Philanthropy Sustainability Bloomberg London...
Ethiopia, Creditors Agree on $8.4 Billion Debt Restructuring (2)

2 months ago | news.bloombergtax.com | Fasika Tadesse |Srinivasan Sivabalan

Ethiopia has reached a deal with its official creditors to restructure $8.4 billion of international debt, a key milestone in the nation’s efforts to overhaul its loans and boost growth. The agreement with bilateral lenders under the G20 Common Framework, backed by an International Monetary Fund program, will slash debt service by $2.5 billion through 2028, its finance ministry said on Friday, without giving details of the terms.