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Mismanagement, Missing Millions, a Mayor's Tall Order


Mayor Adanech Abebie's Administration faced an audit report that unveiled a startling picture of financial mismanagement, inefficiencies, and potential corruption, raising concerns about the Addis Abeba City Administration's fiscal and financial inte...

Jul 21 , 2024


Fortune News

Authority Sets the Stage for a Nascent Securities Exchange

Brook Taye (PhD), director general of the Ethiopian Capital Market Authority, has taken a step forward in establishing a regulatory foundation for the country's nascent capital market. Last week, his...

Jul 21 , 2024

Fortune News

Horticulture's Wilting Profits, Ambitious Rescue Plan

Ethiopia's horticulture, a major source of foreign currency and employment, is facing harsh realities that have resulted in potentially hundreds of millions of dollars lost. Investors across the secto...

Jul 21 , 2024

News Analysis

Banks Rush to Meet Credit Exposure Regulations Ahead of Deadline

Banks are scrambling to comply with new credit exposure regulations as the National Bank of Ethiopia's (NBE) 90- day action plan submission deadline approaches. Among the five directives approved by t...

Jul 7 , 2024


Latest Updates

Fed Bets on Revised Electric Tariffs to Lure Investors

Ethiopia is set to introduce a revised electric tariff system within the next two months. The new ta...

Jul 21 , 2024


Electric Vehicle Push Leaves Investors in the Lurch

Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities,...

Jul 13 , 2024








Agenda

Tradition Meets Transition

Bole Airport Area Residents' Idir members gathered at a consumer association cafeteria around Cape Verde St for their monthly meeting. What began as a routine gathering turned into a storm of confusion and concern, as a representative from the Women...

Jul 21 , 2024


Finance Sector Poised for Ambitious Transformation Under Governor Mamo Mihretu

Ethiopia's financial industry is undergoing substantial transformation under the stewardship of Governor Mamo Mihretu, the 10th governor of the National Bank of...

Jul 13 , 2024


Addis Abeba Residents Caught Between Promises and Reality

Last week, the corridors of the Addis Abeba Housing Bureau were filled with residents whose faces reflected a mix of fear and distress. Among them was Tigist Ad...

Jul 7 , 2024







Editorial

Short Circuited Policy Roulette Shock Businesses, Stall Progress

In a volatile economic environment, sudden policy reversals leave businesses reeling and progress impeded. Businesses and investors alike struggle with an environment where predictability is a luxury, and long-term planning has become a near-impossib...

Jul 20 , 2024


Political Uncertainty, Economic Volatility Manufacturers Battle on Two Fronts

Policymakers are walking a tightrope, struggling to generate growth and create millions of jobs while tackling budget deficits, trade imbalances, debt servicing, and runaway inflation. These are problems compounded by the economy's ongoing structural transform...

Jul 13 , 2024

Bulging Budget Obscures Deepening Fiscal Battle for Value

The federal budget has crossed a symbolic threshold, approaching the one trillion Birr mark at 971.2 billion Br, equivalent to 16.7 billion dollars at last week's official exchange rate. The exponential growth of the budget since the early 2000s, when it langu...

Jul 7 , 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

Ending the Protectionist Scourge Would Benefit All

The World Trade Organization (WTO) is among the greatest success stories of the post-World War II era. By establishing rules based on principles like nondiscrimination among trading partners and equal treatment of foreign and domestic goods, the WTO enabled international trade to flourish, with far-reaching benefits for economic growth and poverty reduction. In this sense, the WTO is like oxygen:...

Jun 30 , 2024


Unleashing the Gig Economy During Regulatory Trailing

A federal legislative assembly recently debated permitting private vehicles to provide ride-sharing services, a previously reserved function for vehicles registered under the commercial code. The move targets platforms like Ride and Feres, which could help all...

Jul 20 , 2024

Charting the Course from Desk Jockey Managers to Visionaries Leaders

The economy is creating opportunities for young Ethiopian professionals stepping into managerial roles. While technical expertise is valuable, transitioning from individual contributors to leaders requires a momentous mindset shift. Crucial changes are essenti...

Jul 20 , 2024


My Opinion

Confronting the Global Neglect of High Blood Pressure

Some of the world's big challenges get a lot of attention. Climate change, war and immigration are constantly in the news and receive large funding from states and private philanthropies. Other problems like tuberculosis and nutrition receive less airtime and awareness, but count among major global priorities, with funding allocated. Even the aptly named Neglected Tropical Diseases like rabies, r...

Jun 29 , 2024


A Tale of Two East African Leaders

Leadership, whether innate or cultivated, is a subject of perennial debate. For Kenya's President William Ruto (PhD), his ascent to power is undeniably attributed to his relentless pursuit and experiential learning. Emerging from humble beginnings in Kenya's R...

Jul 13 , 2024

When Inflation Targets Clash with Climate Goals

At the end of April, in a speech at the Sorbonne, French President Emmanuel Macron suggested that European leaders should consider broadening the European Central Bank's (ECB) mandate to include decarbonisation targets. His proposal has mostly been ignored; fo...

Jul 7 , 2024






Featured

Blooming Against the Odds

Horticultural spaces unfold a few kilometres away from the capital into eastern Shoa, Oromia Regional State. Agroecology, with its long sunny days, plays a pivotal role in the flower industry, providing an ideal growth opportunity for 120 export companies in the country. Approximately 96Km away lies Koka town, nestled between the Mojo-Awassa highway and the Awash River. Its location and humid climate have made it a haven for floral growers. The Dutch-ventured Red Fox Flower Farms enjoyed 13 y...

Jun 22 , 2024


Commentaries

Can NBE Turn the Tide in New Framework, Old Problems Trap?

The National Bank of Ethiopia (NBE) announced a "new" monetary policy framework with much publicity. The central bank described it as "a historic step that will better align its policy tools with modern central bank practices and address some long-standing weaknesses in the macroeconomic and banking environments." This raises the critical question: Is this move mere grandstanding, or is it economically substantive? There are limitations to what monetary policy can achieve. Multiple supply...

Jul 20 , 2024


News Analysis

Banks Rush to Meet Credit Exposure Regulations Ahead of Deadline

Banks are scrambling to comply with new credit exposure regulations as the National Bank of Ethiopia's (NBE) 90- day action plan submission deadline approaches. Among the five directives approved by the central bank in midJune, the prudential provisions governing large exposures to counterparts or groups of connected counterparties aim to mitigate credit concentration risks. Banks must ensure that the total aggregate sum of their on-balance sheet items, including loans and advances, and off-b...

Jul 7 , 2024


Delicate Number

1,190,000,000

The dollar value the Ministry of Agriculture projected of national income from potatoes by 2030. The projected growth rates, however, are too high, more than doubling last year's income from potato production.

Jul 20 , 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

"It's a sickness."

Addis Abeba's Mayor, Adanech Abiebie, voiced her strong dissatisfaction to city councillors last week over what she described as motorists' intentional damage to palm trees along Africa Avenue (Bole Road).



View From Arada

Whip Up Guac While Rethinking Household Chores

An early arrival home with perfectly ripe avocados sparked a culinary whim. It had been a while since I ventured into the kitchen. While no professional, I gleaned some skills during a West...

Jun 29 , 2024




Fortune Video




Sunday With Eden

Faithful Journey Through Grief Amidst Social Media Bullying

Recently, the well-known celebrity Zeritu Kebede has been the target of social media trolling. As she mourns the passing of her firstborn, people have had opinions on how she conducted herself during the burial ceremony and verbally attacked her. When the overwhelming waves of grief hit her, Zeritu chose to shield herself with her faith. Her emotional maturity and belief in a higher power have...

Jun 29 , 2024


A Wild Ride with Patience, Perseverance

I gained over 40Kg during my pregnancy. A couple of months postpartum, I started exercising at home to shed the extra weight. I am one of those people who are impatient and want to achieve goals quickly and effortlessly. Last week, it cost me dearly. Every...

Jul 13 , 2024

Hidden Hypocrisy: Who We Are in Private Speaks Volumes

A few weeks ago, I reconnected with a lawyer who is a strong advocate for human rights, particularly women's rights. Over the years, I have observed her incredible work in creating awareness both in person and at conferences. This time, we spoke mostly abou...

Jul 7 , 2024


Life Matters

Autonomy in Decision-Making

The frustration simmered as I squeezed onto the overcrowded bus, a desperate escape from the city's unreliable transportation system. The journey stretched on, a slow crawl through congested streets choked by construction. My discomfort morphed into claustrophobia, and I could not help but think back to my past ridicule of those who opted for the seemingly slower taxi queue. I made a mental vow: n...

Jun 29 , 2024


Love the Job, Hate the Commute

I work three days a week for a half-day shift. Although it is a job that I love, the long commute from home is exhausting. There have been times when I have fallen asleep in the taxi. By the time I get to work, all I want to do is eat and rest. Thankfully, my...

Jul 13 , 2024

Redefining Age-Gap Relationships

I watched 'The Idea of You', a romantic comedy adapted from Robinne Lee's novel, featuring Anne Hathaway alongside Nicholas Galitzine as an international pop star. The movie explores societal double standards of age and gender in relationships. It contrasts th...





Radar

Ethio Tel Kicks Off Smart Campus Project

Ethio Telecom signed a strategic partnership agreement with Addis Abeba University for a project that allows digital grading, reporting, and smart learning capabilities at the Sidist Kilo Campus on Mekude Bentylrgu St. The smart campus project kicked off last week also incorporates digitization of outpatient, laboratory testing and appointments  at the Tikur Anbessa Specialised Hospital. Frehi...

Jun 30 , 2024


Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for fa...

Jul 21 , 2024

In Picture

POLYMER ISLANDS

A reservoir in a horticulture farm in Koka Town, Oromia Regional State, is filled with black rectangular plastic shades to decrease the amount of sunlight that reaches the water. The shades help decrease evaporation, limit the ignition of chemical reactions from the sunlight, and reduce algae sprouts. Modern flower farms utilize a combination of contemporary innovations to outmanoeuvre the pressur...

Jun 22 , 2024


COIN CONQUEST

The dashboard of the Mexico-to-Qera taxi is not just for navigating streets but a mini-museum of world history. Coins featuring rulers from across the globe rest here, each a tiny testament to a leader's reign. The tradition of placing a ruler's portrait on coins dates back to the Kingdom of Aksum (around 270 CE), which encompassed parts of modern-day Ethiopia and Eritrea...

Jul 21 , 2024




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