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SOARING PRICES DAMPEN FESTIVE SPIRITS


The stalls of Atkilt Tera market in Addis Abeba were uncharacteristically empty. Onions, a staple of Ethiopian cuisine and indispensable for holiday meals, have become scarce and prohibitively expensive. Prices have doubled in just three weeks, reach...

Sep 14 , 2024


Fortune News

Wage Reform Fails to Soothe the Civil Service

Federal authorities are proceeding with a wage reform for the public service, a long-anticipated move to address economic hardships among public employees. According to officials familiar with the mat...

Sep 14 , 2024

Money Market Watch

Banks Woo Forex Remitters Amid Holiday Calm as Birr Continues Slide

Birr's relentless depreciation against the U.S. Dollar took a brief pause last week as the New Year holiday introduced an unusual calm to the forex market. Yet, beneath the surface, banks were intensi...

Sep 14 , 2024

News Analysis

Reforms, Economic Stability Key to Capital Market's Future: Study Finds

The capital market is expected to see substantial growth in size and investment over the next four years, contingent on favourable macroeconomic conditions and successful policy implementations, accor...

Sep 1 , 2024


Latest Updates

Authority Targets Food Additives to Safeguard Public Health

A new directive regulating food additives has been introduced, marking a step in safeguarding public...

Civil Registry Overhauls Digital Infrastructure to Boost Public Services

The Civil Registration & Residency Service Agency (CRRSA) has undergone a major overhaul, upgrad...

Sep 14 , 2024


Addis Abeba Demands Buildings Open Parking Spaces to Public

Buildings in Addis Abeba are mandated to open their parking spaces to the public, as part of a broad...

Sep 14 , 2024








Agenda

Holiday Market Dampened by Rising Food Prices

Atkilt Tera, located in the Haile Garment neighbourhood, has not seen its usual activity. The vibrant market stalls for vegetables now stand largely empty, and the scarcity of onions, in particular, has left both traders and consumers in dismay. Pric...

Sep 14 , 2024


Online Market Thrives During Festive Season

Mekdes Endale's business journey began after her return from Dubai, where she lived for two and a half years. Like many businesses born out of necessity, she la...

Sep 8 , 2024


Public Hospitals' Drug Shortages Reveal Deep-Rooted Budget Issues

An attendant at Minelik II Referral Hospital, Kindu Berihun was shocked by the cost of surgery needed for his relative. The patient, a 28-year-old bartender was...

Sep 1 , 2024







Editorial

Drowning in Budget Gap, Universities Chase Autonomy. Can They Afford It?

Successive regimes share a common legacy: a deep-seated commitment to education as a vehicle for economic growth and social mobility. From the reign of Emperor Menelik II to the present day, each administration could be subject to all sorts of critic...

Sep 14 , 2024


The Road Ahead Remains Difficult. So Are Rewards for Getting It Right Profound

Prime Minister Abiy Ahmed's (PhD) visit to China last week could mark a watershed moment for his country, not only because he led a large delegation to Beijing, but due to the broader context of Africa's increasingly entrenched relationship with China. The eve...

Sep 8 , 2024

Addis Abeba's Gleaming Makeover Shouldn't Leave the Vulnerable Behind

Addis Abeba's skyline is being dramatically altered. Once characterised by unremarkable buildings and dusty roads, Africa's political and diplomatic capital now greets visitors with a spectacle of affluence, glitz, and shimmering lights. As night falls, the ci...

Sep 1 , 2024







Exclusive Interview

Patience - Consistency - Respect

France's Ambassador to Ethiopia up until last week, Remi Marechaux, arrived in Addis Abeba four years ago with a dual mandate of representing his country and engaging with the African Union (AU). He dove into familiar waters from his previous role as Director General for Africa, using Ethiopia's anc...

Aug 4 , 2024


Weeding Out Debt, Seeding a Greener Economy

Jennifer Lee Morgan, inaugural state secretary of Germany and special envoy for International Climate Action, is spearheading a  shift in global financial structures to facilitate a sustainable transition towards a green economy. As a leading advocate for mee...

Jun 1 , 2024

BGI Ethiopia Stirs the Pot with Bold Moves, Sour Realities

Herve Milhade, the CEO of BGI Ethiopia, believes he is steering the company toward a more consumer-centric focus. He emphasises that his goal is not to be a leader in paying taxes but to “become the leader in the heart” of consumers. His tenure began as Et...

May 11 , 2024







Viewpoint

A New Trilemma Haunts the World Economy

In 2000, I wrote a speculative article on what I called "the political trilemma of the world economy." My claim was that advanced forms of globalisation, the nation-state, and mass politics could not coexist. Societies would eventually settle on (at most) two out of three. I suggested that the nation-state would give way in the long run, but not without a struggle. In the short term, the more l...

Sep 15 , 2024


Overlooked Water Crisis Undermines Economies, Escalates Climate Risks

The world confronts an unsustainable situation when it comes to water. Yet fixing the problem is not only within reach; it is also the low-hanging fruit in tackling climate change and generating jobs and growth. The water crisis is plain to see. Year after...

Sep 14 , 2024

Will the AI Revolution Lead to Greater Prosperity?

Many hope technological innovation is a potential solution as global economic growth slows. The International Monetary Fund's (IMF) latest World Economic Outlook, for example, highlighted the potential of artificial intelligence (AI) to boost productivity and...

Sep 8 , 2024


My Opinion

Will Liberalisation Spark Growth, Expose Vulnerabilities?

After years of a state-led model, policymakers' decision to open up the economy could begin attracting various players across different sectors. The policy shift, which follows in the footsteps of many of Ethiopia's neighbours that opened their economies earlier, is expected to bring with it valuable operational experience from international markets. One of the most visible examples of the benefit...

Sep 14 , 2024


Dream in Jeopardy as Manufacturing Gasps with Low Productivity

Ethiopia's leaders may have generational aspirations of becoming a country with a middle-income status. However, the low productivity in manufacturing and export participation contradicts this ambition, making it a distant dream. The sector suffers from a low...

Sep 8 , 2024

Can Africas Digital Awakening Bridge the Trade Divide?

Launching two eCommerce logistics hubs this year should mark a notable leap forward in Ethiopia's quest to become a cross-border and intra-African trade player. It comes as Africa is experiencing a rapid digital transformation, with internet penetration on the...

Sep 1 , 2024






Featured

A Year of Musical Riches

The music scene has been particularly vibrant this year, with a diverse range of albums coming out one after the other. From chart-topping hits to critically acclaimed projects, the musicians are leveraging social media for promotion to influence streaming metrics and sales trends. Ethiopia's music scene has long been a reflection of its cultural depth and diversity, where both tradition and modernity blend harmoniously. Among the country's most dynamic figures shaping this evolving space, ar...

Sep 9 , 2024


Commentaries

Confronting Africa's Cost-of-Living Crisis

The rising cost of living in Africa has triggered a wave of protests in recent months, underscoring the disproportionately higher economic and social costs of inflation on a continent with persistent widespread poverty and heightened vulnerability to global volatility. The world, it seems, is now living through a tale of two inflations. Initially, the current inflation cycle – a product of pandemic supply shocks and escalating geopolitical tensions – affected developed and developing coun...

Sep 14 , 2024


News Analysis

Reforms, Economic Stability Key to Capital Market's Future: Study Finds

The capital market is expected to see substantial growth in size and investment over the next four years, contingent on favourable macroeconomic conditions and successful policy implementations, according to a market size estimation study published by the Ethiopian Capital Market Authority (ECMA). The study, titled "Potential Market Size Estimation & Projection for the Developing Ethiopian Capital Market," was prepared by economists Tewodros Mekonnen Gebrewolde (PhD) and Getachew Ahmed Abega...

Sep 1 , 2024


Delicate Number

208,000,000

Hydropower generation reserve's annual opportunity cost (in dollars) by 2023. Although Ethiopia’s hydropower system is believed to maintain a massive reserve capacity to deal with dry years, maintaining such reserve is projected to lead to an opportunity cost due to lost potential exports. By retaining the hydropower reserve, Ethiopia forgoes potential income that could be earned from selling electricity to neighboring countries.  

Sep 14 , 2024


Fineline

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


Verbatim

"Not satisfied with the progress."

Mike Hammer, the United States's special envoy for the Horn of Africa, told Tigrai Television that he is not happy with the progress made in implementing the Pretoria Accord, particularly the return of displaced people and withdrawal of non-ENDF forces from the region. He was in Addis Abeba last week, talking with officials of the federal government and the Tigray Regional State.



View From Arada

Confronting the Ghosts of Conflict, Trauma

I found myself deeply engrossed in an interview on local media. The guest was Seble Hailu (PhD), a psychologist known for her efforts in addressing trauma. The host set a sombre tone from t...

Sep 14 , 2024




Fortune Video




Sunday With Eden

It's 30 for a Reason... Or Is It?

I recently witnessed a candid exchange between parents and their adult daughter, now in her early 30s. Their advice was direct—she needed to focus on her career and make decisive choices about her future. They felt her potential was being wasted, pointing to her younger sisters as role models. For the daughter, who has lived at home and drifted without clear direction, the conversation struck a...

Sep 14 , 2024


Finding Joy in the Everyday I find my outlook on holidays shifting. What was once primarily a time for gifts and gatherings has grown into a deeper reflection on the blessings in my life. My father used to express heartfelt thanksgiving during holidays and...

Sep 8 , 2024

Healing the Wounds of Fear

I have always been terrified of hospitals. It began in high school and ultimately reshaped my academic and professional aspirations. Growing up, I dreamed of becoming a heart surgeon, after learning that the scarcity of such specialists in Ethiopia led to t...

Sep 1 , 2024


Life Matters

Cultivating Reason Amidst Weeds of Emotion

I am not one to engage in New Year's resolutions. However, I do believe in acknowledging the aspects of ourselves we wish to change. This pursuit should come without the pressure of arbitrary deadlines. What truly matters is the process of self-improvement, as reaching goals remains the focus, no matter how long it takes. The past year has taught me the value of prioritising my happiness and f...

Sep 14 , 2024


Quest for Justice, Need for Societal Change

The recent tragic rape and murder of eight-year-old Heaven Awot has deeply shaken the nation. Her heartbreaking story has left a lasting impact, driving a continued quest for justice for her and countless others who have suffered similar fates. As more stories...

Sep 8 , 2024

The High Cost of Farewells

The bond I had with my mother-in-law was indescribable. Her passing was devastating to the family. Losing a loved one can upend life, triggering deep reflections on existence, mortality, and the fragile nature of life. Thoughts of one's mortality surface, acco...

Sep 1 , 2024





Radar

Global Climate Innovators Launch New Campaign

A global campaign featuring up to 50 diverse innovators and their tangible climate solutions across regions, industries, and communities was launched last week. Dubbed the Impact Makers, it is hoped to inspire climate action, innovation and advance solutions. From social entrepreneurs and community leaders to startups, it will be showcased at Climate Week New York City, COP29 in Azerbaijan...

Sep 14 , 2024


Global Climate Innovators Launch New Campaign

A global campaign featuring up to 50 diverse innovators and their tangible climate solutions across regions, industries, and communities was launched last week. Dubbed the Impact Makers, it is hoped to inspire climate action, innovation and advance solutions. From social entrepreneurs and community leaders to startups, it will be showcased at Climate Week New York City, COP29 in Azerbaijan...

Sep 14 , 2024

In Picture

GREEN STAGE

The former podium that was used for many public events in Meskel Square now is turned into a green balcony with various plants growing in cases. The country embarked on the Green Legacy initiative five years ago, planting trees in mass every rainy season. The initiative is primed for funding worth billions, with a bill proposing the establishment of a special fund, presented to parliament. If appr...

Sep 14 , 2024


SWING SHOP

A second-hand shoe store in the Abware neighbourhood suspends the offerings for easy inspection. The global secondhand apparel market continues to burgeon—a testament to the intrinsic value shoppers find in the secondhand experience and proof of the seismic shift towards a more circular fashion ecosystem. By 2028, the global secondhand market will reach 350 billion dollars according to Thredup,...

Sep 14 , 2024




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