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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 three-year strategic plan to overhaul the financial regulatory framework. It is a bold move signalling a significant shift in the history of Ethiopia's mo...

Dec 2 , 2023

Fortune News

Strategic Relocation Brews Upheaval as BGI Faces Workers' Ire

BGI Ethiopia, one of the largest brewing companies, is in the throes of a major transition that has spurred unrest among its workforce. The brewing behemoth, with around three decades of operation and...

Dec 2 , 2023

Fortune News

Optimism in Fertiliser Overhaul Sprinkles a Pinch of Skepticism

Minister of Agriculture, Girma Amentie (PhD), is leading a charge to overhaul the fertiliser procurement process, in a bid to avert the fertiliser shortage that plagued Ethiopian farmers last year. Th...

Dec 2 , 2023

News Analysis

Abyssinia Bank Bucks Economic Headwinds with Profit Surge

The Bank of Abyssinia's strategic focus on interest income has yielded notable results in the fiscal year 2022/23, placing it in a robust position, second only to Awash International Bank in profitabi...

Dec 2 , 2023

Latest Updates

Fed Contemplates Horticulture Exports Price Cusp

Officials at the Ministry of Agriculture move to set a minimum price threshold for horticulture expo...

Dec 2 , 2023

Tax Dispute Dampens Awash's Milestone Profit Thrill

Awash International Bank (AIB) posted a striking surge in net profits, reaching 6.9 billion Br this...

Nov 25 , 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 top private commercial banks, remains up in the air. International customers from Europe...

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


Halfway through the long queue withstanding the scorching sun, Zeinab Alazim, a mid-30s mother waits for food handouts from the Hope Enterprises Feeding Center...

Nov 18 , 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 ro...

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

Ethiopia's Maritime Dreams Set Sail in Choppy Geopolitical Waters

Prime Minister Abiy Ahmed (PhD) has made a fervent call for landlocked Ethiopia to gain maritime access in a brazen move that has reignited a historical debate. His pronouncements in Parliament last week, addressing concerns raised after President Sahleworq Ze...

Nov 18 , 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


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 legal framework and offering a structured pathway for smallholder farmers to access emerging market opportunities. The passing of this bill...

Dec 3 , 2023

Climate Change Parley an Opportunity If We All Play Our Part

A farmer in the Niger whose fields have dried up due to the heat. A father in Palau who does not know whether his house will still be standing when his children are grown-ups – or whether the rising sea levels will swallow up his village. Mayors in Spain, G...

Dec 2 , 2023

Goldin's Nobel Win a Milestone for Women

Last month, the economics community rejoiced when the Royal Swedish Academy of Sciences awarded Claudia Goldin the Nobel Prize in Economic Sciences for "having advanced our understanding of women's labour market outcomes." One can hardly think of a more deserv...

Nov 25 , 2023

My Opinion

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 blame; political negotiations become fraught and inevitably go over time; and finally, the signing of a new agreement that participants hope a...

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

How Africa Can Make the Most of Diaspora Finance

The African diaspora is the biggest funder of change on the continent. Since remittances are informal, often unreported, and narrowly targeted, they tend to be overlooked. But their scale is large, sustained by diasporic Africans' powerful commitment to improv...

Nov 18 , 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


Water, the High Price of Bad Economics

Nearly 30 years into global negotiations to address climate change, efforts to control the problem are lagging, reflecting stalled progress toward creating a sustainable trajectory more broadly. Each year of delay adds to the urgency of the situation and the need to maintain Earth's resilience against the most severe effects of global warming. It has been 17 years since the "Stern Review" alerted the world to the costs of inaction on climate change, and two years since the "Dasgupta Review" d...

Dec 2 , 2023

News Analysis

Abyssinia Bank Bucks Economic Headwinds with Profit Surge

The Bank of Abyssinia's strategic focus on interest income has yielded notable results in the fiscal year 2022/23, placing it in a robust position, second only to Awash International Bank in profitability among private banks, despite the challenging economic environment marked by distressing foreign exchange constraints. Abyssinia's profit for the year rose by 19.6pc to reach 3.87 billion Br. While industry analysts say it is commendable, this performance pales in comparison to the previous y...

Dec 2 , 2023

Delicate Number


The number of people displaced by floods and mudslides in 85 weredas across seven regional states, including Somali, South-East, Gambella, Oromia, Afar and Sidama.  

Dec 2 , 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


"We're comfortable."

Central Bank Governor Mamo Miheretu responded to The Banker, a London-based magazine's November 2023 edition, about the amount of foreign currency reserves.

View From Arada

The Power of Recognition

Thanksgiving season —celebrated in the US on the last Thursday of November— coincided with my son joining the university. Such an important milestone called for a quality time and celebratory dinner at one of the luxury hotels in town....

Dec 2 , 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

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, leading me to wonder if they were merely decorative or served as a means of displaying their drink menu. Initially, I assumed they were full...

Nov 18 , 2023

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

Maneuvering the Intricacies of Family Dynamics

I could not help but marvel at how swiftly the week had slipped by. The rapid passage of time struck as I leisurely savoured my macchiato in a cosy café last week. My reverie was abruptly interrupted when I spotted a familiar face. Indeed, it was my dear f...

Nov 11 , 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