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A Bold Bet on Affordable Housing Faces Skepticism, Financial Roadblocks


The federal government is embarking on an ambitious venture with the "Chaka Satellite City" project, which will incorporate thousands of "affordable housing units" through a new public-private partnership (PPP) initiative. Consulting firms are und...

May 18 , 2024


Fortune News

Real Estate Deal Falls Through: Anxious Investors Left With Purpose Black's Promises

A Federal Higher Court ruling has ended the legal battle between BGI-Ethiopia and Purpose Black, marking the end of property acquisition and dashing the dreams of thousands who invested in a p...

May 18 , 2024

Fortune News

Procured with Pride, Delivered with Peril

With the impending Meher season, lawmakers' focus shifts to the distribution of fertilisers. The conversation during the Ministry of Agriculture's nine-month performance report has shifted from purcha...

May 18 , 2024

News Analysis

Nyala Insurance Thrives Despite a Storm of Claims, Regulations

In a year marked by remarkable growth, Nyala Insurance surged ahead, buoyed by impressive gains in investment income and life insurance. While navigating fierce industry competition and regulatory con...

May 18 , 2024


Latest Updates

SAVING LIVES, ONE SHORTAGE AT A TIME

Behind the nondescript facade of a drop-in centre in Addis Abeba, a quiet struggle unfolds nightly....

May 18 , 2024


Addis Abeba's Grand Plan to Outsmart Its Own Chaos

Officials of the Addis Abeba City Administration are advancing a series of ambitious urban developme...

May 11 , 2024








Agenda

The Condom Conundrum

Declining donor funds and a global squeeze have created a condom shortage in Ethiopia. While needing 250 million condoms annually, the country manages to supply less than half. The result is a decline in giveaways – universities, restaurants, and p...

May 18 , 2024


Fatal Cracks Expose Addis Abeba's Underbelly

A group of young boys, dressed in tattered clothing, huddle around a traffic light asking passing drivers for spare change, around the C.M.C. area near the Sal...

May 11 , 2024


Progress Pushes Out Sheep Vendors as Holiday Spirit Wanes

Beneath the shadow of a gleaming development, the festive spirit of the holiday market dims. Displaced sheep vendors deal with dwindling sales, while a nearby c...

May 4 , 2024







Editorial

Sleek Offices, Lavish Roads Makeover in Shaky Economy During Fiscal Frugality

Prime Minister Abiy Ahmed (PhD) took a handful of his cabinet members last week to the newly illuminated offices of Chaltu Sani, the minister of Urban & Infrastructure Development, on Ras Abebe Aregay Road, near the National Theater. The Prime Mi...

May 18 , 2024


From Mines to Mortgages, PPPs Can Be Antidotes of Progress, Not Touch-and-Go Pitfall

The ruling Prosperity Party - the Prosperitians - has its leaders turned to the Public-Private Partnerships (PPPs) model, a strategic tool for economic development. The focus of these partnerships has recently shifted from traditional sectors like mining and e...

May 11 , 2024

Tax Authorities' Sisyphean Saga of Shrinking Revenue, Gov't Soaring Ambitions

For successive generations of Ethiopia's tax authorities, the chore of tax collection is proving to be a Sisyphean task. Despite efforts to rake in more revenue, the country's tax-to-GDP ratio has shrunk from a high of 13.5pc, during the heydays of Melaku Fent...

May 2 , 2024







Exclusive Interview

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 Ethiopia emerged from a bloody and brutal...

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

Inside the Quirky World of Ethiopia's Tech, Finance Mavericks

ABREHAM TILAHUN (Kacha) Abraham Tilahun, 40, married and a father of four, is an alumnus of Addis Abeba and Jimma universities and graduated in Banking & Finance and Accounting. Under his leadership, Kacha is the first private payment instrument issuer...

Jan 7 , 2024







Viewpoint

What Fiscally Sound Industrial Policy Can Do

I recently discussed industrial policy at the International Monetary Fund (IMF). The IMF has historically been a sharp critic of industrial policy. However, as many of its client countries embrace the concept, the Fund has recognised the need to clarify its position and update its guidance. IMF economists have long worried that industrial policy can cause undue harm to a country's fiscal positi...

May 19 , 2024


Why 'Billions to Trillions' Won't Solve the Climate Crisis, Development Goals

The international development sector has become fixated on calculating financing gaps. Hardly a day goes by without new estimates of the funds low- and middle-income countries (LMICs) need to meet their climate targets and achieve the United Nations Sustainabl...

May 18 , 2024

Fertilisers Will Not Fix Africa's Food Crisis

The world is confronting an unprecedented food crisis, exacerbated by the COVID-19 pandemic, Russia's war against Ukraine, and worsening climate conditions. However, the problem is most acute in Africa, where 61pc of the population faced moderate or severe foo...

May 11 , 2024


My Opinion

Museveni Hits Out at World Bank Amid Calls for Economic Revamp

President Yoweri Museveni's recent remarks at the World Bank summit in Nairobi sharply encapsulate a long-standing debate about the direction of Africa's economic development. By invoking the term "sustainable underdevelopment," Museveni shed light on the continent's struggle against economic models that have historically not served its best interests. This critique points to the deeper issue of e...

May 11 , 2024


Fifty Years of Immunisation Success Call for 50 More

There is a good chance of knowing that one of the 154 million people who have been saved from preventable death by routine immunisation over the past 50 years. In the past half-century, it has been hard to identify a public health tool that has had a more posi...

May 3 , 2024

The Dark Side of Bias Undermine Societal Solidarity

In the daily rhythm of work and life, it is not uncommon for a single negative comment to overshadow an otherwise positive day. The tendency to dwell on the negative — a trait deeply ingrained in human psychology — plays an oversized role in shaping societ...

Apr 28 , 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

How Soaring Interest Rates Propel Economic Growth against Convention

The U.S. experience challenges traditional economic theories and suggests that higher interest rates can coexist with robust economic growth. The importance of flexible and dynamic economic policies that adapt to changing circumstances is evident. As the global economy evolves, policymakers must consider diverse strategies to promote sustainable growth, ensuring that economic benefits reach all segments of society, write Andrea Sequeira (austinesequeira@gmail.com), an independent consultant, and...

May 18 , 2024


News Analysis

Nyala Insurance Thrives Despite a Storm of Claims, Regulations

In a year marked by remarkable growth, Nyala Insurance surged ahead, buoyed by impressive gains in investment income and life insurance. While navigating fierce industry competition and regulatory constraints, the firm defied conservative critiques, with its executives steering Nyala to a rise in gross written premiums. This was despite economic headwinds evident as its liquidity soared and paid-up capital climbed, positioning Nyala as a formidable contender against competitors like United and N...

May 18 , 2024


Delicate Number

226

The value in Birr of government-guaranteed on-lending debt up until December 2023. This category of loans experienced a nearly 94pc increase in the four years beginning in 2019/20, which is highly unusual compared to other categories of debt that showed moderate and steady growth.

May 18 , 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

"This must end."

In a rare public statement last week, Ervin Massinga, the U.S. ambassador to Ethiopia, urged all adversaries to resolve differences away from the battlefield to stop continued displacement, suffering and death.



View From Arada

When a Bite Ripples to Sustenance

Food waste represents a loss of economic value throughout the supply chain. Farmers lose revenues, consumers waste money, businesses incur costs while governments invest resources to manage...

May 18 , 2024




Fortune Video




Sunday With Eden

Our Children, Our Responsibility

After two blissful years of raising their son, my neighbours began a daycare search deciding that it was time to return to work. Their ideal setting was a facility with cameras accessible to parents, offering a comforting glimpse into their child's day. Unfortunately, such transparency seemed nonexistent. Settling for a centre near the grandparents' house for emergencies, they embarked on a visit...

May 18 , 2024


Unhooking the Liquid Gold Taboo

Motherhood has a way of unveiling unexpected truths. Following the birth of my daughter, I was confronted with a striking realisation: the prevalence of misinformation and stigma surrounding breastfeeding. It was a realm where I encountered surprising perspect...

May 11 , 2024

Betting on Virtual Solutions for Real Impact

Since graduating from law school, I have attended countless women's conferences and workshops. These gatherings offer valuable learning opportunities and connections with inspiring people and organisations. However, a common thread weaves through these in-pers...

Apr 28 , 2024


Life Matters

Stuck in the Paper Chase

I recently caught up with a former classmate from my postgraduate program, and our conversation took an unexpected turn when she revealed a shocking truth - she no longer possessed her degree. I was stunned, recalling her successful defence a day before mine. She explained that an examiner suggested revisions that might improve her grade. Initially hesitant, especially being close to giving birth...

May 18 , 2024


Breaking the Persistent Venting Cycle

A lengthy phone call with a close friend recently left me surprised. She brought up a familiar issue, seeking advice even though we had discussed it before. I recall that we had talked it through, reaching a seeming resolution about a year ago. However, the s...

May 11 , 2024

Breaking the Persistent Venting Cycle

A lengthy phone call with a close friend recently left me surprised. She brought up a familiar issue, seeking advice even though we had discussed it before. I recall that we had talked it through, reaching a seeming resolution about a year ago. However, th...

May 11 , 2024





Radar

Rural Land Proclamation Comes to Light

A landmark legislation that grants title holders in rural areas the right to use the property as collateral was unanimously ratified by Parliament last week. It primarily focuses on extending access to finance for farmers and pastoralists, through a structured land title system. It also introduces criminal penalties for the illegal transfer of property. Replacing the 18-year-old proclamatio...

May 18 , 2024


Ministry Ponders Tax Waivers for Rural Energy Solutions

Tax exemptions for off-grid energy technologies like solar pumps and mini-grids are under discussion, spearheaded by the Ministry of Water & Energy. Commonly used by rural households, officials disclose their simultaneous plan to develop 300 mini-grids in the next six years. According to Birhanu Weldu, the lead executive of rural energy technology development, the initiative tackles the...

May 18 , 2024

In Picture

TOTTERING TOWERS

A hurried renovation transpires on a conjoined pair of small buildings around the Mercato area. Many old buildings in the vast marketplace are remnants of shops built by Yemeni merchants who relocated from the old Arada area in the 1930s. The area has a thriving informal sector economy from which thousands earn daily bread. According to studies by the Centre for International Private Enterpris...

May 18 , 2024


SOULFUL SIDEWALKS

A row of seats and plastic water bottles await followers of the Islamic faith for preparatory 'Udu' proceedings around the Bethel area. The closely parked minibus taxis and shops right across also await customers on the cloudy Thursday afternoon. An aesthetic reformation ambitiously being pursued by the City administration will see fewer and fewer cars on the street as...

May 12 , 2024




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