Ethiopian Birr Continues to Depreciate Against the US Dollar

Digital Economy Projected to Boost Ethiopia’s GDP by 1.3 Trillion Birr by 2028

• Digital Economy Projected to Boost Ethiopia’s GDP by 1.3 Trillion Birr by 2028
  According to a new report by the Global System for Mobile Communications Association (GSMA), Ethiopia's digital economy is expected to add 1.3 trillion birr to the country’s GDP by 2028. Telecom sector reforms and investments in mobile technology will create 1 million new jobs by stimulating growth in agriculture, manufacturing, and public services. The report also estimates an additional 57 billion birr in tax revenue generated by 2028. Despite the positive outlook, the report highlights that 76% of Ethiopians living within mobile network coverage do not use mobile Internet.

• Enat Party Condemns Demolition of Religious Premises
  The opposition Enat Party has criticized Prime Minister Abiy Ahmed’s government for its perceived hostility towards Ethiopia’s established religions, particularly regarding the ongoing demolition of religious premises, including those of the Ethiopian Orthodox Church, in the capital and surrounding areas. The party has called for an immediate halt to the demolitions and urged the government to exempt religious premises from the urban corridor development project.

• Ethiopian Birr Continues to Depreciate Against the US Dollar
  The value of the Ethiopian birr against the US dollar fell sharply on Thursday, following the central bank's instruction to commercial banks to limit the forex buying and selling rate spread to no more than 2%. The state-owned Commercial Bank of Ethiopia bought one US dollar at 116.66 birr, a 3.53 birr increase compared to the previous day, while selling it at 119.00 birr. The continued depreciation reflects ongoing volatility in the currency market since the adoption of the market-based forex regime.

• Ethiopian Human Rights Council Calls for Urgent Prison Reforms
  The Ethiopian Human Rights Council (EHRCO) has urged the government to reform prisons and temporary detention centers, citing overcrowding, poor sanitation, limited medical care, and reported abuses, especially affecting human rights defenders. EHRCO stressed the need for reforms to ensure that these facilities provide humane and safe conditions for all detainees.

• Federal Court Sentences 24 Individuals for Drug Trafficking
  Ethiopia’s Federal Court has sentenced 20 foreign nationals and four Ethiopians to prison terms of up to 12 years for drug trafficking offenses. The drugs involved include cocaine and heroin, with the traffickers originating from countries such as Germany, Canada, Poland, Brazil, Thailand, India, Indonesia, Venezuela, Nigeria, and South Africa. The drugs were primarily sourced from Brazil and South Africa.

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