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09/07/2025

Living in Gift Village!

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Website: https://www.giftbusinessgroup.com
Call: +251 979 65 65 65 / +251 984 65 65 65
Short Code: 8055

06/07/2025

Arsenal Football Club has officially welcomed Spanish midfielder Martin Zubimendi to the Emirates Stadium, marking one of the club’s most anticipated signings of the summer transfer window. The 26-year-old joins the Gunners from Real Sociedad, where he had become a linchpin of the team’s midfield with his intelligence, composure, and deep-lying playmaker role.
North London Welcomes Zubimendi: Arsenal Seal Major Midfield Signing.

Addis Ababa,July 06/2025 (ABN)

Zubimendi's arrival signals Arsenal’s intent to bolster their midfield with technical proficiency and tactical discipline, as the club gears up for another Premier League title challenge and a return to UEFA Champions League contention.

Manager Mikel Arteta, also of Spanish heritage, expressed his excitement about the signing:

“Martin brings exactly the kind of balance and vision we need in the heart of midfield. He’s a natural leader and a player who reads the game at the highest level.”

Zubimendi, known for his passing accuracy, defensive awareness, and positional versatility, is expected to seamlessly slot into Arsenal's system, complementing the likes of Declan Rice and Martin Ødegaard. His experience in La Liga and with the Spanish national team adds further depth and maturity to Arsenal’s evolving squad.

The deal reportedly includes a long-term contract, and although financial details remain undisclosed, sources indicate Arsenal activated his release clause underlining how highly the North London club rates the midfielder.

Zubimendi addressed Arsenal fans in his first official club interview:

“It’s a dream to join a club with such history and ambition. I’m ready to give everything for the badge and be part of this exciting journey.”

With pre-season underway and Premier League kickoff fast approaching, the Gunners’ faithful are eager to see Zubimendi don the iconic red and white kit, adding flair and steel to Arsenal’s midfield engine room.

Welcome to The Arsenal, Martin Zubimendi North London is Red!

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06/07/2025

After Two Decades, Libya Invites Global Investors to Its Energy Sector.

Addis Ababa, July 6, 2025 (ABN)

Libya is officially making its return to the international oil and gas stage, launching its first major exploration licensing round in nearly two decades. The move signals a renewed commitment by the North African nation to revitalize its energy sector and attract global investment.

The new licensing round, announced by Libya’s National Oil Corporation (NOC), will open key onshore and offshore blocks for exploration and development. Energy analysts view this as a strategic opportunity for international oil companies (IOCs) looking to expand operations in a region with vast untapped reserves.

Libya, a founding member of OPEC, holds some of Africa’s largest proven oil reserves. However, years of conflict and political instability have hampered production and foreign investment. This licensing round marks a significant step toward restoring investor confidence and stabilizing the country’s energy landscape.

The NOC emphasized transparency, international standards, and environmental considerations as core principles of the new round, aiming to position Libya as a competitive and responsible energy partner on the global stage.

With rising global demand and shifting geopolitical dynamics, Libya’s return is expected to reshape the energy outlook in North Africa and beyond.

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06/07/2025

Ethiopia–Brazil Partnership Moves Forward with High-Level Talks.

Addis Ababa, July 6, 2025 (ABN)

Prime Minister Dr. Abiy Ahmed has held a bilateral discussion with President Luiz Inácio Lula da Silva of Brazil ahead of the 17th BRICS Summit.

In a social media post following their meeting, Prime Minister Abiy stated that the two leaders exchanged views on a wide range of bilateral and multilateral issues of mutual interest.

He emphasized that today's engagement represents a step forward in strengthening the close and growing relations between Ethiopia and Brazil, particularly in diplomacy, economic cooperation, and strategic global partnerships.

Both leaders agreed to further deepen trade and investment ties across various sectors, aiming to expand collaborative frameworks that benefit the two nations’ economies and people.

Their dialogue also highlighted a shared commitment to reinforcing cooperation within the context of South-South collaboration and global development platforms like BRICS.

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06/07/2025

Over 11 Billion Birr Invested in City Connectivity Projects.

Addis Ababa, July 6, 2025 (ABN)

A total of 21 major infrastructure projects comprising 13 roads and 8 bridges have officially been inaugurated and opened for public service in Addis Ababa. These newly completed projects span a total length of 31.5 kilometers, marking a significant step forward in the city’s ongoing urban transformation and connectivity efforts.
The inauguration ceremony was attended by key city officials, including Addis Ababa Mayor Adanech Abiebie and City Council Speaker W/ro Buzena Alkadir, along with other high-level administrative figures and project leaders.

Speaking at the event, Mayor Adanech emphasized the city’s commitment to not only corridor development but also foundational infrastructure that ensures accessibility and mobility. “We are prioritizing strategic investments in road infrastructure to modernize our city and enhance connectivity across key areas,” she stated.

Among the notable road segments inaugurated are:
• The Agusta–Weyra Intersection
• Tulu Dimtu Condominium Access Road
• The stretch from Qality Ring Road Junction to the Tulu Dimtu Roundabout via the Akaki Bridge
These infrastructures are expected to ease traffic congestion, improve logistics, and support urban development in southern and southeastern Addis Ababa.

According to the city’s Road Authority, the total cost for completing these projects exceeded 11 billion birr. The investment underscores the administration's focus on building resilient, modern infrastructure that can keep pace with Addis Ababa’s rapid population growth and urban expansion.

The newly opened roads and bridges are also expected to provide safer, more reliable access for both pedestrians and vehicles further contributing to economic activity and quality of life in the capital.

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05/07/2025

Today’s Launch: Sport Festival Awards BYD Car as It Opens New Season

Addis Ababa, July 5, 2025 (ABN)

The highly anticipated Hulusport Sport Festival, a pioneer in Ethiopia’s sports and entertainment landscape, officially launches its latest edition today. With a proud history spanning more than eight years, Hulusport has become a flagship event renowned for its dynamic sports competitions and community engagement.

Employing over 100 dedicated professionals, Hulusport is not only a major employer but also a champion of social corporate responsibility, consistently giving back to the communities it serves. The festival is recognized for its substantial tax contributions, reflecting its role as a key economic player in the country.

Beyond national borders, Hulusport is setting its sights on continental expansion. The festival’s ambitious plan to attract hard currency aims to strengthen Ethiopia’s position in the regional sports market, enhancing economic growth and international sports collaboration.

The event also celebrates excellence by awarding winners across various competitions, fostering sportsmanship and talent development throughout the festival.

As this year’s festival kicks off, participants and spectators alike can look forward to an exhilarating program that continues the legacy of Hulusport as a pillar of Ethiopian sports culture and economic progress.

05/07/2025

on the Nile: Ethiopia’s GERD Powers the Future.

04/07/2025

Ethiopian Insurance Corporation Joins National Effort to Expand Crop Insurance.

Addis Ababa,July 04/2025 (ABN)

In a bold move to enhance agricultural resilience and climate protection, the Ethiopian Insurance Corporation (EIC) has signed a landmark agreement to join a national consortium dedicated to expanding agricultural insurance coverage for smallholder farmers across the country.

The initiative, backed by key development partners and supported through Ethiopia’s national Input Voucher System, aims to deliver innovative crop insurance solutions to more than 3 million farmers by the end of 2025. This groundbreaking partnership marks one of the most ambitious efforts in Ethiopia to scale financial protection against climate-related risks in the agricultural sector.

“We are proud to be part of a national movement that directly addresses the growing threats posed by climate change,” said a senior official from EIC. “This agreement reflects our deep commitment to rural development, climate adaptation, and financial inclusion.”

The program focuses on making insurance accessible to farmers through embedded channels, allowing smallholders to obtain coverage seamlessly when they purchase certified seeds and fertilizers. In doing so, the initiative ensures that farmers are protected from yield losses due to drought, flooding, and other extreme weather events.

This move is part of EIC’s broader strategy to strengthen Ethiopia’s financial safety net and support the national goal of transforming agriculture into a climate-smart, resilient, and commercially viable sector. The partnership will also drive awareness, training, and digital tools to help farmers understand the benefits and use of insurance in mitigating climate risk.

By integrating agricultural insurance into the Input Voucher System, this effort lays the groundwork for long-term rural stability, protecting not only livelihoods but also national food security.

As Ethiopia continues to face increasing climate volatility, this landmark agreement positions EIC as a leading institution in the fight for climate resilience and sustainable rural development.

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04/07/2025

Ethiopia Signs $285 Million Loan Agreements with World Bank.

Addis Ababa,July 04/2025 (ABN)

In its 48th regular session held today, the Council of Ministers of the Federal Democratic Republic of Ethiopia deliberated on several major national and international matters, approving critical decisions that reflect the country’s economic reform and diplomatic agenda.

Approval of Financial Support Agreements with the World Bank
The Council first reviewed and approved two draft proclamations that authorize financial assistance and loan agreements between the Ethiopian government and the World Bank. These include:
•A USD 258.1 million (SDR equivalent) financial agreement for the implementation of the Second Sustainable and Inclusive Growth Policy, and
•A USD 27.3 million (SDR equivalent) agreement to support the Accelerated Road Development Project.

Both agreements are long-term loans with a six-year grace period, zero interest, and a 0.75% service charge. The Council confirmed that these agreements align with Ethiopia’s debt management strategy and unanimously resolved to forward them to the House of Peoples’ Representatives for ratification.

Federal Income Tax Reform Draft Approved
The Council also evaluated and approved a long-anticipated amendment to the existing Federal Income Tax Proclamation. The current law, in place for years, no longer adequately reflects Ethiopia’s evolving economic landscape or international best practices.

The amendment seeks to revise outdated provisions, modernize the tax system, and reinforce Ethiopia’s fiscal foundation. With the aim of increasing transparency, fairness, and efficiency in tax administration, the draft bill was unanimously approved and referred to the House of Peoples’ Representatives for legislative action.

Ethiopia-Nigeria Diplomatic Visa Waiver Agreement Endorsed
Finally, the Council reviewed a bilateral visa waiver agreement signed with the Federal Republic of Nigeria. This agreement exempts holders of diplomatic and service passports from visa requirements when traveling between the two countries.

The deal is expected to significantly streamline official travel, reduce administrative burdens, and strengthen diplomatic and bilateral ties between Ethiopia and Nigeria. Following discussion, the Council unanimously endorsed the agreement and decided to forward it to the House of Peoples’ Representatives for ratification.

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03/07/2025

on the Nile: Ethiopia’s GERD Powers the Future.

Addis Ababa,July 03/2025 (ABN)

In a monumental moment for Ethiopia and the African continent, Prime Minister Abiy Ahmed officially announced the completion of the Grand Ethiopian Renaissance Dam (GERD) Africa’s largest hydroelectric project and a symbol of national pride, resilience, and self-reliance.

After more than a decade of planning, construction, negotiations, and national mobilization, the GERD is now fully operational. Built on the Blue Nile River in the Benishangul-Gumuz region, the dam will generate over 6,500 megawatts of electricity, doubling Ethiopia’s current power capacity and transforming the regional energy landscape.

Speaking at the inaugural event held at the dam site, Prime Minister Abiy Ahmed (PhD) declared, “Today, we have made history not just for Ethiopia, but for all of Africa. The completion of GERD is a testament to the will of our people, our engineers, and our vision for a sovereign and prosperous future.”

The project, funded primarily through domestic means bond sales, public contributions, and government investment represents a landmark in Ethiopia’s pursuit of energy independence and industrialization. Abiy Ahmed’s administration, despite challenges ranging from geopolitical tension to economic constraints, remained unwavering in its commitment to finalize the megaproject.

The GERD is expected to:
•Power millions of homes and industries across Ethiopia;
•Support regional power exports to Sudan, Kenya, Djibouti, and beyond;
•Enhance food security and irrigation systems;
•Position Ethiopia as a clean energy hub in East Africa.

International reactions have ranged from congratulations to renewed calls for trilateral cooperation between Ethiopia, Sudan, and Egypt on long-term water usage and basin management. However, Ethiopia has reaffirmed its stance that the dam will not harm downstream countries and will, instead, foster shared growth and integration.

The GERD’s completion marks a new era of national confidence and infrastructure-driven development. It stands as a beacon of African engineering, unity, and ambition showcasing what is possible when a nation aligns its vision with the will of its people.

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03/07/2025

Zimbabwe to Host Africa’s Pioneer AI Factory with Global Tech Backing.

Addis Ababa, July 03/2025 (ABN)

Zimbabwe’s wealthiest businessman, Strive Masiyiwa, has joined forces with global tech entrepreneur and the world’s 10th richest man, Elon Musk, to launch Africa’s first artificial intelligence (AI) factory a groundbreaking initiative poised to transform the continent’s digital economy and technological future.

Announced at the Africa Tech Future Summit, the collaboration marks a significant step toward localizing advanced technology development in Africa. The AI factory will be headquartered in Zimbabwe, with satellite campuses planned across Kenya, Nigeria, Rwanda, and Ethiopia. The initiative aims to build Africa-centric large language models (LLMs), support smart agriculture, health diagnostics, fintech solutions, and provide cutting-edge digital infrastructure that empowers African innovators.

Strive Masiyiwa, founder of Econet Group and a long-time advocate for digital inclusion in Africa, stated that the continent must actively build its technological future rather than wait to inherit it. “We must stop waiting for the Fourth Industrial Revolution to come to us we must build it right here on African soil,” Masiyiwa emphasized. Elon Musk echoed this sentiment, noting Africa’s rich linguistic, cultural, and demographic diversity as essential assets in the global development of ethical and inclusive AI systems.

With a planned initial investment of $500 million, partially funded by the Masiyiwa Foundation and X.AI Ventures, the project is expected to break ground in early 2026. It has already received preliminary backing from the African Development Bank, the African Union Commission, and the Smart Africa Alliance, all of which see the initiative as aligning with the goals of Agenda 2063 Africa’s long-term vision for transformation and sustainable development.

Unlike previous models of tech deployment in Africa that often involved foreign-led solutions, the AI factory will be built and operated by African engineers, researchers, and data scientists. It is designed to retain local data sovereignty while fostering global collaboration. The factory will also include a dedicated AI skills development center aimed at training thousands of African youth in machine learning, natural language processing, and robotics, creating a pipeline of homegrown AI talent.

Industry observers hail the initiative as a defining moment in Africa’s digital evolution. By focusing on strategic investment in intellectual capital rather than solely on infrastructure or extractive industries, the Masiyiwa–Musk partnership signals a paradigm shift in how global tech leaders engage with the continent.

This AI factory is not just a facility it is a declaration that Africa is ready to shape, not just consume, the future of artificial intelligence. It represents a bold new chapter in Africa’s journey toward digital sovereignty, innovation-led growth, and technological leadership on the world stage.

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03/07/2025

Ethiopia Approves 1.93 Trillion Birr Federal Budget for 2018 Fiscal Year.

Addis Ababa,July 03/2025 (ABN)

The House of People’s Representatives of the Federal Democratic Republic of Ethiopia has officially approved the national budget for the 2018 Ethiopian fiscal year (2025/26 Gregorian) during its 42nd regular session of the 6th Parliament’s 4th year of service.

Following thorough deliberation, the parliament unanimously ratified the proposed federal budget, which stands at 1.93 trillion Ethiopian Birr. This marks a 34.4% increase compared to the previous fiscal year’s allocation, reflecting the government’s strong commitment to stimulating economic growth, managing public debt sustainably, and enhancing social spending.

According to the Ministry of Finance, the newly approved budget aligns with the country's ongoing macro-economic reform agenda and fiscal policy frameworks. Key priorities include:
•Continuing national development projects;
•Enhancing debt sustainability through negotiations with creditors;
•Cushioning vulnerable communities from the economic pressures of reform through strengthened social protection programs;
•Expanding the domestic revenue base, including introducing new tax streams and reinforcing existing ones.

Notably, more than 80% of the expenditure is expected to be covered by domestic revenues, signaling improved internal resource mobilization and reduced reliance on external borrowing. Government representatives also emphasized plans to modernize the tax system and strengthen institutional capacity to improve efficiency in revenue collection.

The federal budget serves as a key instrument in supporting Ethiopia’s Growth and Reform Agenda, targeting inclusive development, infrastructure expansion, and macroeconomic stabilization.

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