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IN DIGITAL ID, PROMISE MEETS CHAOS


The National ID Program, a.k.a Fayda, has met citizens with the kind of contention that bruises optimism. Many thought it would lighten the load of everyday transactions, but found themselves wrestling with unscannable QR codes and federal and region...

Dec 8 , 2024


Fortune News

Khat Trade Wilts, While Farmers, Exporters Bear the Bitter Cost

The once-thriving khat trade is unravelling, leaving farmers and exporters trapped between unauthorised checkpoints, rising tax burdens, and a surge in contraband trade. The leafy stimulant once sust...

Dec 8 , 2024

Money Market Watch

Banks Push, Regulators Pull, the Birr Takes the Fall

The Brewed Buck moved subtly but persistently against the Green Buck over the past week, uncovering deeper structural issues in the foreign exchange market. Between December 2 and December 7, 2024, ra...

Dec 8 , 2024

News Analysis

Abyssinia's Forex Recovery Beams Despite Pressures on Shareholder Returns

The Bank of Abyssinia's (BoA) financial results for the fiscal year 2023/24 tell a story of growth mixed with rising costs and narrowing returns. However, a particularly notable development came from...

Dec 8 , 2024


Latest Updates

Drugs Procurement Planned Overhaul Targets Chronic Supply Ailments

The drug supply chain may soon see its most important overhaul in years as a proposed directive tran...

Dec 8 , 2024


Authority Rolls Out Red Carpet for First Securities Exchange

Ethiopian Capital Market Authority (ECMA) has taken its final step in establishing the foundation fo...

Dec 8 , 2024


Central Bank Report Flags Widening Vulnerabilities in Banking Sector

The National Bank of Ethiopia's (NBE) second annual financial stability report reveals growing crack...

Dec 8 , 2024








Agenda

National ID Footprint Stumbles Over Limited Acceptance, Printing Quality

Dawit Arega, a tourist guide for 14 years, has encountered difficulties with his National Identification. Enrolling in the initiative when it launched in September 2022, he hoped it would simplify professional and personal transactions. However, th...

Dec 8 , 2024


Government Reforms Battle Market Forces on Cement Industry Control

On the outskirts of Addis Abeba lies the subdued Qaliti cement market with retailers like Tsigereda Eshetu gazing for customers that may be interested in their...

Dec 1 , 2024


Mercato's Taxing Transformation Tests Tax Authorities

Business owners in Mercato, the largest open market, were left stunned by a sudden gridlock following a consequential decision by authorities to tighten tax adm...

Nov 24 , 2024







Editorial

Fueling Reform, the Petroleum Sector Caught Between Monopoly Missteps, Market Liberalisation

For decades the Ethiopian Petroleum Supply Enterprise (EPSE), a state-owned giant entrusted with importing and distributing fuel, dominated the energy sector. It administered 13 reserve depots spread across the country, maintaining emergency stocks t...

Dec 7 , 2024


Crafting Public Service Reward in a Cash-Strapped Economy

In the corridors of government offices worldwide, the question of how much to pay members of the public service is no longer a dry fiscal matter. It has become a defining test of leadership, fiscal discipline, and the ability to retain talent while avoiding th...

Nov 30 , 2024

During Taxing Times, Tax Hunt Tests the Limits of an Unsteady Economy

The fiscal puzzle deepens as the Council of Ministers approved a supplementary budget of 581 billion Br last week, over half the federal budget ratified only months ago. Not even halfway through the fiscal year, Prime Minister Abiy Ahmed's (PhD) administration...

Nov 23 , 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

The Key to Africa's Vaccine Sovereignty

Africa is on the cusp of a profound economic transformation. The population boom in sub-Saharan countries, which is expected to increase the number of Africans from 1.4 billion today to 3.3 billion in 2075, holds the potential to trigger rapid GDP growth and raise living standards across the continent. My country, Ghana, aims to be at the forefront of these developments. But our ability to capita...

Dec 8 , 2024


Protecting Children from Anti-Social Media

Australia has banned children under 16 from using social media. The move has met with some criticism, particularly from companies like Meta (which owns Facebook and Instagram) and TikTok, which will face fines of up to 32 million dollars if they fail to keep y...

Dec 8 , 2024

Why the Global Order Should Abandon Industrial-Colonial Blueprint

The term "polycrisis" has become a buzzword in the 2020s. It refers to the interconnected nature of the threats facing humanity today, from global warming, pandemics, and extreme inequality to democratic erosion and armed conflict. With few solutions on offer...

Nov 30 , 2024


My Opinion

Is the Loss & Damage Fund Becoming an Empty Promise?

So far this year, floods, heat waves, droughts, storms, and wildfires have led to thousands of deaths, threatened the health and livelihoods of millions of people, and caused tens of billions of dollars in damage – at least 41 billion dollars by June. In September and October, two hurricanes – Helene and Milton – cost the United States (US) alone over 100 billion dollars. Recent research sug...

Dec 7 , 2024


Carbon Farming Won't Save the Planet

Healthy soil is indispensable to life on Earth, sustaining nearly 60pc of all living species. As the second-largest carbon reservoir after oceans, soil is also among our planet's most important natural assets in the fight against climate change. But the wor...

Nov 30 , 2024

Blossoming Exports Caught Under Thorny Debates Over Land, Employment, Legacy

The floriculture industry has become the second-largest export earner after coffee, generating nearly half a billion dollars and employing tens of thousands. Yet despite its economic contributions, the industry remains clouded by scepticism and mired in politi...

Nov 23 , 2024






Featured

Independent Forex Bureaus Offer Valued Choice

Waktole Abdulahi, a long-time resident of Norway, was relieved when he was able to secure 260 dollars at one of Addis Abeba's newly opened independent forex bureaus. For his travels and securing a yellow card, the timing was urgent. "Such small amount was hard to come by previously," he said. While the transaction was smooth, he noted the highly volatile exchange rates—a consequence of the recently liberalised forex system that has introduced more private players into the market. "It...

Nov 16 , 2024


Commentaries

For Developing Economies, the Finance Landscape Becomes a Wasteland

It was a bold idea encapsulated in a snappy slogan: “From billions to trillions.” When private capital sloshed into developing economies a decade ago, governments and development institutions saw an opportunity to turbocharge progress on poverty reduction and other development goals. “The good news is that, globally, there are ample savings, amounting to 17 trillion dollars, and liquidity is at historical highs,” read a key strategy document of the time. The bad news is that it all...

Dec 7 , 2024


News Analysis

Abyssinia's Forex Recovery Beams Despite Pressures on Shareholder Returns

The Bank of Abyssinia's (BoA) financial results for the fiscal year 2023/24 tell a story of growth mixed with rising costs and narrowing returns. However, a particularly notable development came from its foreign exchange activities. Net foreign exchange income turned positive at 99.19 million Br, compared with a loss of 223.56 million Br the previous year. Based in London, financial statement analyst Abdulmenan Mohammed (PhD) called the turnaround “remarkable,” a bright spot in an otherwise...

Dec 8 , 2024


Delicate Number

122

The volume of water in cubic meters Ethiopia receives annually. However, Ethiopia is classified as a "water-stress" country with a per capita water availability of 1,006 cubic meters a year,  contradicting its perceived water abundance. The per capita availability above the water-stress threshold (1,000 cubic meters a year) reveals disparities in distribution and access.

Dec 7 , 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 source of tension."

Eritrean President Isaias Afwerki, in a recent interview, criticised Ethiopia's constitution, asserting that it has contributed to regional instability and is unhelpful to effective state-building. His country's remains to be one of the few across the world without a constitutional order.



View From Arada

Cherishing the Loved Ones A Reflection on Life, Loss, and Loneliness

The cinema hall at the National Theatre was nearly empty, with just half a dozen people attending, including two projectionists running the movie from a laptop. The film...

Dec 7 , 2024




Fortune Video




Sunday With Eden

Choosing to Lift Up in a Judgmental World

I recently spoke with someone deeply stressed by complex family matters. Her worries had severely impacted her health and strained her relationships. She confessed to losing control of her temper, which flared up in almost every interaction with her husband, coworkers, and close friends. I experienced it firsthand during our talk, which prompted me to ask if she was okay. While her struggles s...

Nov 30 , 2024


Beyond the Gates of Society's Neglect

Returning to social media after a three-year hiatus, I anticipated updates from friends, snapshots of celebrations, and a dose of positivity. What I did not expect was a video that would grip me with despair and force a profound reflection on the state of huma...

Nov 23 , 2024

Finding My Body Back, A Year Later

For many women, becoming a mother is a transformative experience that reshapes our priorities, self-perception, and connection to our bodies. As I celebrated my daughter's first birthday this weekend, I felt immense gratitude for the blessings of motherhood. H...

Nov 16 , 2024


Life Matters

Navigating Grief with Young Children

It has been several months since my mother-in-law passed away, and we have yet to share the news with our three- and four-year-old children. Recently, they have been inquiring about her asking when she will visit and why she has not come to see them. Before her passing, she had been away for six months, visiting only twice, which somewhat eased them into her absence. Yet, my son has expressed a de...

Dec 7 , 2024


Walking on Eggshells in a Social Web

Our choices come with hidden social costs. Sometimes, they are as trivial as deciding where to shop, but even these small decisions can reveal the dynamics of human interactions and the pressures that come with them. Last week, I found myself taking an unfa...

Nov 30 , 2024

Hunger With Ambitions to End It

I was returning from dropping my son off at school when I saw a young mother huddled on a rough stone by the roadside. Her infant was strapped securely to her back, and though she did not shout or actively solicit, her eyes carried an unspoken cry for help. ...

Nov 23 , 2024





Radar

Lion Thrives Through Challenges, More Than Doubles Profit

Total comprehensive profit reached 754.7 million Br, a 63pc growth from the previous year for Lion International Bank. The 18-year-old bank held its general assembly last week at the Skylight Hotel on Africa Avenue where shareholders were alerted of the good news. Total assets also peaked at 43 billion Br, increasing by 21pc while total liabilities account for 37.9 billion Br, exhibiting a 21pc in...

Dec 8 , 2024


Nib Bank, Mastercard Avail Pre-Paid International Card

Nib bank has joined forces with the US-based technology giant Mastercard to unveil a virtual pre-paid payment card. Dubbed "Nib Mastercard," the digital offering responds to the growing demand for flexible payment solutions. The plastic card supports transactions through contactless ATMs, Point-of-Sale (POS) systems and online shopping platforms. Executives express optimism that the partnership w...

Dec 8 , 2024

In Picture

LOAD MASTER

A man lounges atop sacks and boxes of consumer goods stacked on a veteran pickup truck. On the road leading to Arat Kilo roundabout, the truck would be delivering its goods to awaiting customers. The use of old pickup trucks remains a vital part of the supply chain in the city and country as the method is cost-effective and flexible for both distributors and retailers. The man on top would be the...

Dec 8 , 2024


URBAN UPLIFT

Road reconstruction in the Amist Kilo area mingles with bustling activity as commuters find their way around the disturbance. Public transport systems and citizens are having to become accustomed to temporary and wide-ranging disturbances required for the uplifting of transport and communication infrastructure in Addis Abeba under the purview of corridor development projects. Road widening project...

Dec 8 , 2024




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