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Riding Apps High on Demand, Low on Safety, Affordability


Fistum Tadesse, 31, ventured into the taxi-hailing business three years ago, driven by a desire for safety and autonomy. His previous stint as a cross-border driver left him vulnerable to unsafe routes between Shasemene and Adama towns in Oromia Regi...

Jun 8 , 2024


Fortune News

RIDESHARE SURGE OUTPACES SAFETY MEASURES

The rise of taxi-hailing companies in Addis Abeba over the past six years has been a double-edged sword. While these services have transformed urban transport and provided much-needed job opportunitie...

Jun 8 , 2024

Fortune News

Djibouti Blasts World Bank's 'Unjust' Ports Rating, Accuses Bias

Djiboutian authorities have lashed out at the World Bank over its recent assessment of the country's ports performance, which saw an unprecedented decline in global rankings. The fourth edition of the...

Jun 11 , 2024

News Analysis

Global Insurance's Pioneering Sharia-Compliant Bet Pays Off

Global Insurance has demonstrated commendable growth, attributed to a strategic shift towards underserved markets in the financial year 2023/24. The company's venture into Takaful offerings — an ins...

Jun 8 , 2024


Latest Updates

Oromia Blooms with Flower Farm Land Lease Rates

Oromia Regional State President Shimeles Abdisa introduced a land lease directive for flower far...

Jun 8 , 2024


Parliament Grills Transport Ministry over Fuel Subsidy Program

Parliamentarians incited fury over inefficiencies in fuel distribution and subsidy management, durin...

Jun 8 , 2024








Agenda

Riding Apps High on Demand, Low on Safety, Affordability

Fistum Tadesse, 31, ventured into the taxi-hailing business three years ago, driven by a desire for safety and autonomy. His previous stint as a cross-border driver left him vulnerable to unsafe routes between Shasemene and Adama towns in Oromia Regi...

Jun 8 , 2024


Quest for Quality Lost in a Maze of Knockoffs

A 26-year-old site engineer, Mizab Ahmed, fumed with anger. Two months ago, he had visited the Autobis Tera area, excited to snag a pair of Beats headphones fr...

Jun 1 , 2024


Degrees of Disconnect

Landing a dream job in electrical engineering felt like a given for Meseret Dereje, a 28-year-old graduate from Meqelle University. Five years of rigorous study...

May 25 , 2024







Editorial

Sky-High Interest Rates, Fiscal Folly Uncover Deep Economic Distress

Ethiopia's businesses face an increasingly arduous task in securing loans, as capital emerges as one of the priciest commodities in the market. Borrowing costs are exorbitant, with commercial loan interest rates averaging around 20pc, making them amo...

Jun 8 , 2024


Beneath the Surface Fundamentals Unmask a Facade of Progress Amid Despair

Ethiopia appears to be mired in a vicious economic cycle - rather a negative dynamic - characterised by low productivity, high unemployment, cantering inflation and declining exports, exacerbated by reactive policymaking under Prime Minister Abiy Ahmed (PhD)....

Jun 1 , 2024

Celebrating Inflation "Triumphs" While the Economy Gasps for Air

For a long time, the debate among Ethiopia's policymakers and those in the academia centred on the effectiveness of monetary policy measures in impacting the real economy, particularly inflation. In a country where the majority live on a subsistence rural live...

May 25 , 2024







Exclusive Interview

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 meeting the loss and damage demands of emer...

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

Cloudy Horizons in the Digital Ecosystem

With a background in cybersecurity, CEO Charly Bahaous is from Israel and relocated to South Africa in 2006. Under his watch,  Touchnet has grown to encompass over 300 employees across various sub-sectors. The Company's portfolio includes a fibre management a...

Jan 27 , 2024







Viewpoint

Blossoming Industry Caught Between Export Aspirations and Domestic Market Allure

Ethiopia has long sought to diversify its export base, aspiring to secure new sources of foreign currency earnings and reduce its exposure to price volatilities that often plague international markets. Among its efforts, its policymakers have focused on inducing an industry in the value chain of ornamental and cut flowers since 1990. Over the last two decades, the floriculture industry has become...

Jun 9 , 2024


Preparing Now for the Next "Disease X"

In December 2019, a group of patients in Wuhan, China, started showing symptoms of an atypical pneumonia-like illness that did not respond well to standard treatments. Ninety days later, with more than 118,000 cases reported in 114 countries and 4,291 deaths,...

Jun 8 , 2024

Scars of the Pandemic Threaten to Derail Emerging Economies

In its latest World Economic Outlook, the International Monetary Fund (IMF) notes in passing that the economic impact of COVID-19 on emerging and developing economies has been much more severe than previously thought. While GDP growth rates in the developed wo...

Jun 1 , 2024


My Opinion

Can National Dialogue Overcome Years of War, Diplomatic Missteps?

In January 2020, I expressed concerns about the dangerous trajectory of Ethiopian politics, attributing the descent into chaos to a political elite bent on war. I argued that certain groups, wielding disproportionate wealth, influence, and political power, threatened war, campaigning to secure dominance through a zero-sum political formula. I recommended that these influential individuals and the...

Jun 8 , 2024


Does Biden's Move Elevating Kenya as America's Ally Upsets Ethiopia?

Under President Biden, Kenya has been designated a major non-NATO ally, positioning it strategically at the forefront of U.S. interests in the Horn of Africa. This comes with expectations that President William Ruto will align with American policies in the reg...

Jun 1 , 2024

Does Massinga's Bombshell Remarks Set to Shake Up Diplomatic Scene?

U.S. Ambassador Ervin Jose Massinga has become a familiar name, akin to the prominence once held by Mike Hammer, Washington's Special Envoy for the Horn of Africa. The Ambassador earned this reputation after his speech two weeks ago, which focused on human rig...

May 25 , 2024






Featured

MASTERING LIFE - MORE THAN LUCK

The feel-good life coaching industry would have people believe that success is not only about showing up in the swirling whirl of modern life, where essentials like health, shelter, and education twirl alongside transportation and capital formation. After all, the industry was estimated to be worth 2.4 billion dollars in 2022, growing by 19pc a year. Its gurus insist that success is about meticulous planning, a dash of wit, and a good deal of nerve. However, these sectors do more than meet basic...

May 3 , 2024


Commentaries

When Preemption Rights Face Off against Creditor Claims in Boardrooms Battle

In the intricate realm of corporate law, conflicts often emerge between shareholders' preemption rights and secured creditors' priorities in the event of a share sale. The corporate structure becomes detrimental when a shareholder defaults and a creditor opts to sell the pledged shares. In private limited companies, which value personal associations, existing shareholders' preemption rights take precedence, requiring their consent for any outside transfer. Conversely, in share companies that...

Jun 8 , 2024


News Analysis

Global Insurance's Pioneering Sharia-Compliant Bet Pays Off

Global Insurance has demonstrated commendable growth, attributed to a strategic shift towards underserved markets in the financial year 2023/24. The company's venture into Takaful offerings — an insurance system compliant with Sharia law — positioned it as a pioneer in the interest-free sector. Though it still shares a small part of the overall market, Global Insurance's Takaful business has captured the largest market share in this niche area. The Takaful business, which allows members t...

Jun 8 , 2024


Delicate Number

31

The value in Birr of non-bank holdings of federal government debt (in December 2023) surged from 9.7 billion Br the year before. With close to 99pc going to service interest, the substantial increase shows a shift in the debt ownership structure away from the banks, traditionally major holders of government debt.  

Jun 8 , 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

"We should invoke a revolution."

Deputy Prime Minister Temesgen Tiruneh posted on his Facebook page last week, calling for a revolution to free the country from humanitarian aid.



View From Arada

Podcasts:Ticket to a Breath of Fresh Air

Who knew a YouTube video titled "Introducing the Ethiopian Capital Market" would spark a newfound fascination with podcasts? Intrigued by the guest, Brook Taye (PhD), the Director General...

Jun 8 , 2024




Fortune Video




Sunday With Eden

Breaking Free from Sour Relationships

We all seek friends who inspire us. But what happens when admiration takes a toxic turn? This was my experience with two individuals who initially offered guidance and support. But, beneath the surface, lurked a constant negativity, particularly towards the achievements of others. They cast doubt on everyone's success, from local acquaintances to prominent figures. Whenever I admired someone...

Jun 8 , 2024


Building Dreams to Burning Bridges

I know a few individuals who have successfully built businesses from scratch as new graduates. One of them was a young man I met five years ago who had a passion for technology and video games. He was particularly confident in teaching young people about webs...

Jun 1 , 2024

Finding Peace in a Chaotic Reality

I always thought I valued peace, until I met my husband. He approaches it with an unwavering commitment and a calming grace. He showed me that inner peace is far more valuable than winning an argument, even with strangers. Time and again, I've witnessed him gr...

May 25 , 2024


Life Matters

Hacking the Hustle

For months, I have dreamt of launching a simple, low-cost business. Just planning it filled me with excitement, but taking the first steps – like getting a business license – felt overwhelming. Some lack ambition but excel at completing tedious tasks. Others like myself, have ideas but struggle with the initial steps to lay the groundwork. We dream big but can get tripped up by the practicalit...

Jun 8 , 2024


Bursting the Bole Bubble

On my way home last week, I found myself inside a taxi behind a Gen-Z couple. They exuded youthfulness, and throughout the journey, they conversed fluently in English. Their impeccable accents hinted at a prestigious education, perhaps from a renowned private...

Jun 1 , 2024

When Money Talks, Friendships Falter

A recent fundraising effort at work for a colleague facing financial hardship exposed a troubling side of our society: entitlement. While most employees contributed, some, including a close friend, could not due to their own financial struggles. This lack of...

May 25 , 2024





Radar

Court Blocks BGI Ethiopia's Assets Trying High Stake Lawsuits

Judges at the Federal First Instance Court issued an injunction last week, halting the sale of BGI Ethiopia's headquarters and the transfer of shares in Brasseries International Holding Limited (B.I.H). The injunction, signed by Judge Girawork Yitbarek, ruled immediate delivery to the defendants. The legal action followed a high-stakes lawsuit filed by Zewudnesh G. Asrat, an 80-year-old woman,...

Jun 11 , 2024


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been develop...

Jun 15 , 2024

In Picture

RUSTY TREASURES

A truck around the German Square hauled metal debris on a sunny afternoon last week. The corridor project snaking through the capital has provided businesses that rely on collecting and selling metal scraps with a voluminous supply. Following a decision by the Ministry of Mines last year to decrease reliance on imported inputs for steel industries, every inch of metal has become a commodity. The n...

Jun 11 , 2024


CORRIDOR CONUNDRUMS

A three-month road around German Square confuses drivers and pedestrians following a hasty construction. Traffic accidents have become common in the area after the roundabout was removed to widen the road and simplify movement through the area. Above half a billion birr is lost to damages arising from traffic accidents annually in Ethiopia. Over 400 casualties and 3,471 injuries due to traffic acc...

Jun 15 , 2024




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