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Shareholders' Rebellion Rattles Amhara Bank

Amhara Bank finds itself embroiled in a detrimental controversy after its Board Chairman, Melaku Fenta, faced a rebellion from shareholders who petitioned regulators to investigate the Bank's governance. These shareholders have raised alarming accusa...

Dec 9 , 2023

Fortune News


Moha Softdrink Industries S.C., Ethiopia's leading beverage bottler, is in a precarious situation after seeing its founding General Manager retiring and facing a looming closure due to a web of proble...

Dec 9 , 2023

Fortune News

Addis Abeba's Land Allocation Leap Stirs Hope, Skepticism

The Addis Abeba City Administration officials have sanctioned plot allotments for various developers, comprising sectors from banking to hospitality. The move made three weeks ago, authorised by Girma...

Dec 9 , 2023

News Analysis

Awash Bank Propels to New Heights Despite Economic Headwinds

Awash International Bank (AIB) has continued to consolidate its position as a formidable force, setting a new benchmark for its peers in the banking industry. Its performance cements Awash Bank's posi...

Dec 9 , 2023

Latest Updates

Oil Refiners Infused in Compulsory Boost

Edible oil manufacturers are struggling to sustain vitamin infusions into their products before rele...

Dec 9 , 2023

Mamo's High-Stakes Bid to Revamp Economy Faces Tough Road Ahead

Mamo Mihretu, the governor of the National Bank of Ethiopia (NBE), has outlined a comprehensive thre...

Dec 2 , 2023


Stagflation Quagmire: The Inflation to Unemployment Dynamics

Dusty wind blew on the alleyway of Shola Gebeya while the usually lively market seemed rather dreary, on a scorching afternoon last week. Vendors grapple with dwindling sales and skyrocketing costs, as they call out passersby whom they perceive are p...

Dec 9 , 2023

Bearing the Brunt of Fiscal Squeeze

The third largest exporter of pulses last year, Edao Abdi, has grown anxious over the past three months. His 500 million Br loan request from a couple of the to...

Dec 2 , 2023

Scratched Off

Please stop!" screams the 63-year-old Nunu Bedane, as a spirited group from the Addis Abeba Code Enforcement Authority tears down an advertisement board that...

Nov 25 , 2023


Governor Mamo Juggles with Economic Realities, Fiscal Follies

Making a paradigm shift seems elusive for those in the driving seat of Ethiopia's monetary policy. Its central bankers, nestled in their traditional roles of financial sector oversight, have historically skirted the more proactive role of their liber...

Dec 9 , 2023

Addis Abeba's Public Transport: A Chronicle of Disappointment

The symphony of traffic noise in Addis Abeba is not just a sign of life, but a siren song of urban chaos. Swelling under the pressures of urbanisation, the city displays an almost paradoxical relationship with mobility. Its roads are less progress routes and m...

Dec 2 , 2023

Betting Big on Capital Markets in the Land of Banks, Bureaucracy

Ethiopia's quest to develop a functioning capital market is a demanding yet not unachievable journey. It requires persistent effort, strategic planning, and an all-rounded approach. A synergy of regulatory frameworks, macroeconomic stability, embracing technol...

Nov 25 , 2023

Exclusive Interview

Germany Takes a Stand

In a noteworthy gesture signalling its commitment to international peace and development, Germany has sealed an ambitious deal with the United Nations Development Programme (UNDP). The agreement, amounting to 10 million euros, is earmarked to support peace initiatives and aid in rehabilitating war-r...

Oct 21 , 2023


At the forefront is Jemberu Demeke, a name that echoes local music evolution's rhythmic and lyrical potency. Yididya Wondwossen, fondly known by this artistic pseudonym, bridges the rich musical legacy of his homeland with the modern dynamism of contemporary g...

Sep 9 , 2023

The Untamed Spirit: Living Young, Wild and Free

Q: If we went through your car right now, what three things would we find? Aziz Ahmed: Glass case. Breaking too many eyeglasses is a perennial headache for a traveller. This one holds it tight, so I always carry it around. Another item might be a tyre chang...

Sep 10 , 2023


The Global South's Debt Crisis Thwarts Climate Ambition

This year's United Nations Climate Change Conference (COP28) in Dubai would be decisive for the “Loss & Damage Fund” established at COP27, because governments must agree on how the new fund will be operationalised and financed. But equally important is the first global stocktake (GST), which will assess countries' progress toward achieving the goals of the Paris Climate Agreement, signed i...

Dec 10 , 2023

Droughts, Floods Horn of Africa's Double-Edged Sword

Climate change has emerged as a formidable adversary against food security and nutrition, particularly in the Eastern and Horn of Africa. The region, already under socio-economic challenges, finds itself at the intersection of escalating climate crises. Extrem...

Dec 9 , 2023

Contract-farming a Step Forward, But Long Road Ahead

In July this year, the federal government took a significant step towards modernising the agricultural sector. Parliament enacted a law governing parties in agricultural production contracts, a landmark legislation addressing a critical gap in the country's le...

Dec 2 , 2023

My Opinion

Artificial Seaport More Aspirational Than Feasible.

Mekonnen Getachew's proposal for an artificial seaport in Ethiopia, connected to the Red Sea via a canal through Eritrea, has understandably stirred significant interest among the Ethiopian public. With over 100,000 views on YouTube, this concept represents hope for a country without direct sea access. However, a critical analysis of the proposal underlines several substantial technical, geologica...

Dec 9 , 2023

Climate Summits' Inconvenient Truth

The spectacle of another annual climate conference is getting underway in Dubai. Like Kabuki theatre, performative set pieces lead from one to the other: politicians and celebrities arrive by private jets; speakers predict imminent doom; hectoring NGOs cast bl...

Dec 2 , 2023

Workplace Safety More Than a Box-Ticking Exercise

In a string of recent workplace incidents, the absence of adequate first aid response has emerged as an urgent issue, calling for more comprehensive training and better-equipped facilities. These events, which include a fall in a bank, a choking incident at a...

Nov 25 , 2023


Evolving Dynamics of Domestic Travels

Fikresilassie Tsegaye, 34, is an architect by profession, who has seen his favourite holiday pastime grow into a lucrative side hustle over the past couple of years. He organises trips to different parts of the country, compelled by the authentic experience during his trip to celebrate Epiphany in Gonder, Amhara Regional State. "I wanted others to feel what I experienced," Fikresilassie told Fortune. What started as a moment of inspiration has now grown to become a frequent escape from...

Sep 23 , 2023


Can Addis Abeba Lead the Way in Emergent Urbanism?

As Addis Abeba stands on the cusp of initiating a new City Development Strategy (CDS), the task ahead is monumental as it will be fraught with uncertainty. The city, already challenged by a host of socio-economic and infrastructural limitations, finds itself at a crucial juncture where the demand for a comprehensive and effective urban development plan has become more pressing than ever. The city administration has begun staffing a project office dedicated to developing the CDS. The office is...

Dec 9 , 2023

News Analysis

Awash Bank Propels to New Heights Despite Economic Headwinds

Awash International Bank (AIB) has continued to consolidate its position as a formidable force, setting a new benchmark for its peers in the banking industry. Its performance cements Awash Bank's position at the pinnacle of the financial sector. Over the past few years, the Bank has not only maintained but significantly enhanced its growth path, defying domestic adversities. With a tremendous increase of 30.9pc in net profits, Awash Bank's earnings soared to an impressive 6.99 billion Br for...

Dec 9 , 2023

Delicate Number


The number of Africans, representing 20pc of the continent's population, is malnourished. This number has seen an increase of 57 million people since the outbreak of COVID-19.  

Dec 9 , 2023


Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the media, showcasing what polling stations will look like during the upcoming national elections; and they took the...

Oct 3 , 2020


"In a frank and open manner."

The federal government and the European Union said in a joint statement issued last week after concluding what they described as a "structured dialogue." Ethiopia's team was led by Demeke Mekonnen, deputy prime minister and foreign minister, while Ronald Kobia, EU's ambassador, co-chaired the meeting.

View From Arada

Stripping Down Addis Abeba Parking Woes

On a fine early Sunday morning, a knock on the door interrupted my deep sleep. It was my neighbours who wanted to go to church, asking for assistance to move my car and let theirs out. Altho...

Dec 9 , 2023

Fortune Video

Sunday With Eden

Navigating Phone Induced Anxiety

I have a love-hate relationship with my phone. It is my go to source for information. I enjoy interacting with text messages and browsing through the social media platform, especially when I am not busy. But, it becomes overpowering after a while. Waiting for a reply, and the brief responses to heartfelt messages can be triggering to induce anxiety. One of the days last week, I had the enti...

Dec 2 , 2023

Youth Shoulder the Weight of Economic Instability

I have encountered fresh graduates with degrees in notable professions such as medicine and civil engineering, struggling to find employment. They are offered 3,000 Br or less wages, which barely covers their transportation costs, let alone their living expen...

Nov 18 , 2023

Breaking Free from the Echo Chamber of Self

In the innocent days of childhood, life revolves around the tiny selves as parents indulge in every whim applauding minor achievements and children perceive the world through a myopic lens believing everything is about their existence. Problems arise when t...

Nov 11 , 2023

Life Matters

Not So Common Sense

While doing laundry over the weekend, I began video chatting with a friend from overseas. Amid our lively conversation, I told him to give me a moment while I loaded the socks and got back to him. He quickly pointed out that I could have thrown them with the batch that was complete instead of loading a new one which could have saved time and resources. He smirked and added a comment that soap was...

Dec 9 , 2023

The Fine Line of Self-serving Prejudice

Over the weekend, I attended a wedding where my husband was one of the protocols. Despite the typical joyous occasion, the highlight of the event was a parking issue that unfolded at the venue. It was way passed the time when we arrived with the wedding cre...

Bottling Up Trouble

A familiar coffee shop along my daily commute serves a variety of hot and cold beverages, packaged in disposable plastic cups for takeout. Three particular cups frequently occupy a spot on the windowsill. Upon closer inspection, I realised they were empty, lea...

Nov 18 , 2023


Berhan Bank Dims Financial Year Course

Berhan Bank shareholders had little to smile about during the annual general assembly, learning that their profit earnings for the year hung by a thread. The Bank has netted 508.6 million Br profit for the year. It has shown a 6.4pc increase from last year but is two times lower than its peer Abay Bank which reported 1.55 billion Br the prior week. The Bank's expenses in the year had shot up by...

Dec 2 , 2023


A street lamp around Addis Abeba Stadium melds into the concrete backdrop emblematic of the capital's ageing infrastructure. Over the past few years, Ethiopia's electric grid has been subject to destruction and theft, subjecting the public treasury to hundreds of millions in losses. Nearly half of the country's population does not have access to electricity. A series of projects by the World Bank...

Dec 2 , 2023

In Picture

Coffee Train

Tomoca Coffee has opened another outlet inside the La Gare Train Station and is converting an old train car into a café. Open in 1917, the train station is one of the attractions of the city. It will now be part of the La Gare Eagle Hills Project. The removal of the historical Buffet De La Gare inside the train station following the start of the construction had led to an outcry...

Mar 14 , 2021


A construction crew, equipment and materials still obscure the progress of the Mesqel Square project. Nonetheless, the fencing that once enveloped the construction site has largely been removed, and the crescent-shaped steps have been installed. Costing 2.5 billion Br, the project is one of many that attempt to rehabilitate parks, public spaces and rivers of Addis Abeba...

Feb 13 , 2021