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Officials are toiling to radically overhaul the education system after experiencing a "shock" from a minuscule number of 12th-grade students passing the average grade to make it to college. Amid official blaming shifting, the students become victims...

Feb 4 , 2023

Fortune News

Fed Tables Revised Excise Tax on Imported Vehicle

The auto market foresees changes as a draft proclamation of excise tax on imported vehicles is revised. An amendment to the cylinder capacity (CC) of vehicles imported and the amount of excise tax the...

Feb 4 , 2023

Fortune News

Fertilizer Arrives Earlier than Anticipated

A ship carrying half a million quintals of urea arrived at the Djibouti ports last week. The amount accounts for nearly five percent of the total fertilizer imports scheduled for the year, while the...

Fortune News

Hibret Bank Glides Through Another Year

For thousands of Hibret Bank's shareholders who congregated at the Inter-luxury Hotel in November for a general assembly and marked their bank's service for a quarter of a century, praising profit oug...

Feb 4 , 2023

Latest Updates

Capital Market Authority Braces Licenses Issuance

The Ethiopian Capital Market Authority officials revealed up to a dozen directives currently in the...

Feb 4 , 2023

Fed Diversifies Housing Development for Capital Residents

Government employees and associations gathered voluntarily longing to get houses, are met with a cou...

Feb 4 , 2023


"Failed System" Preys Waddle to Unemployment

The 18-year-old Nuhamin Admasu seems indifferent about her school-leaving exam result. She scored 201 out of 600. The social science student claims she was not anxious even before seeing her results as she expected the outcome. She said her secondary...

Feb 4 , 2023


Last week saw thousands of young individuals queueing at three branches of the Development Bank of Ethiopia (DBE) in the capital to register for the fourth roun...

Jan 28 , 2023

Car Market Steer

One fine mid-morning last week, Imran Muhedin, 36, visited the Ethio Credit Systems (ECS) showroom to buy a 2020 model Suzuki Dzire vehicle. He sustained an acc...

Jan 21 , 2023


Students' Failure to Enter College Manifests Deep Cuts in Society

Rene Lefort is a French journalist with a keen interest in Ethiopia, spanning over half a century. His regular and extensive writings on abounding things in Ethiopia reflect his understanding of nuances, informed and shaped by decades of intense enga...

Feb 4 , 2023

Can Mamo Overhaul the Central Bank? It’s Long Overdue.

It is not common to see an appointment for a senior federal government office stir debates and controversies. Parliamentarians may grumble about the background and experiences of ministers during confirmation sessions, as they did last week. Ten of them vot...

Jan 28 , 2023

What Organising, Operating Principles Prosperitians Follow?

Eyob Tekalign, state minister for Finance, took to social media platforms last week to sanitise the speculative market of an impending devaluation of the Birr against a basket of major currencies. He tried to debunk the widely and long-held market perception o...

Jan 21 , 2023

Exclusive Interview

Inflation, Geopolitical Tension and Climate Change Torment the World

Project Syndicate (PS): You have often pointed out that inflation has been exacerbated by trade protectionism, which weakens the market competition that induces firms to keep prices low, and by immigration restrictions, which lock in labour shortages. At a time when a return to unfettered globalizat...

Jan 24 , 2023

Offloading Climate Responsibility on the Victims of Climate Change

Question: Climate change is a complex problem, but maybe there is a simple solution. What might that look like? Nnimmo Bassey: Simple solutions are avoided in today's world because they do not support capital. And capital is ruling the world. Life is simple...

Jan 7 , 2023

Towards a Progressive Economic Agenda

Project Syndicate: From the start of your recent book, Mission Economy: A Moonshot Guide to Changing Capitalism - you argue that changing capitalism will require us to overhaul “how government is structured,” “how business is run,” and “how public an...

Oct 30 , 2022


China's Savings Conundrum

Chinese bank deposits increased by 3.9 trillion dollars last year, according to recent data from China's central bank, the People's Bank of China (PBOC). Spurred by China's rigid COVID-19 containment strategy, which the government rolled back in December, household savings surged by 6.6 trillion in 2022, growing by more than 746.2 billion in the last two months of the year alone. To many Wester...

Feb 5 , 2023

The Common Good, the Shared Objective

After leaders of government, business, and civil society met at this year's World Economic Forum meeting in Davos, the observation that we are living in the age of a "polycrisis" has spread. The simultaneous occurrence of multiple catastrophic events is a corn...

Feb 4 , 2023

Is Two-decade Too Short to Realize the Hankered Africa Union (AU) ?

From the inception of the Organization of Africa Unity (OAU) to the Africa Union Commission (AUC) of today, the journey for the continent has not been easy to realise the “Africa we want”. After two decades, peace, trade and security remain the top concern...

Jan 28 , 2023

My Opinion

Three Cheers for Hybrid Work

There is no shortage of hyperbole in the debate about whether companies should demand a full return to office work. According to Citadel's Ken Griffin, the hedge fund owes its record-breaking 16 billion dollars haul last year to its staff's full-time presence in the office. But such sound bites ignore all the benefits that remote work offers to employers, employees, and the economy more broadly. ...

Feb 4 , 2023

The Poverty of Anti-Capitalism

Our world has become both confusing and confused. The international economy works well, but the political economy is mired in hostility toward markets, frustration at globalization, and scepticism about growth. Each of these beliefs interacts with and reinforc...

Jan 28 , 2023

Household Budget on Squeeze as Fuel Cost Surge

The cost of living in the capital has been on the rise. It is mainly artificial and has an economic rationale. Of course, the economic headache directly translates to the rapidly increasing fuel price as the pandemic effect is equally responsible for its massi...

Jan 21 , 2023


Trailblazer Energy Firm LydetCo Goes Off-Grid

On the capital's outskirts, at about 400 meters from the Ayat roundabout, sits a sparkling white building with the logo LydetCo plastered all over it. A casual glance at the six-storey building reveals little to leave a lasting impression, but a closer look and one notices that no electric power lines are extending to it. The building was operational since the dawn of the new year and solely relies on the cascading 108 solar panels on the top floor, with the design and installation of the sol...

Jan 28 , 2023


Is Addis Abeba Sleep Friendly City?

If social media is anything to go by, Addis Abeba seems to have woken up to the importance of physical activities for maintaining a healthy body and mind. Many people of different ages and gender are often seen in well-synchronised mass-sport rituals. Formal meetings tend to kick off with a healthy dose of aerobic exercises. Yoga is in vogue too, and it is not uncommon to see “workshoppers” rolling out their yoga mats in the place of the old cookie-and-coffee break. A mere campaign or rea...

Feb 4 , 2023

News Analysis

Fed Seals Costly Fertiliser Deal, Demand Remains Unmet

An Abu Dhabi-based firm has agreed to supply half a million tonnes of urea to Ethiopia following months of negotiations between federal authorities and executives of FertiGlobe. It was a delicate process for both sides. The authorities had contracted FertiGlobe six months ago to supply Ethiopia with a half million tonnes of fertiliser at 710 dollars a tonne. However, the company terminated its contract claiming rising prices in the global market that jumped to 1,000 dollars in the early weeks...

Delicate Number


total merchandise imports in dollars, indicating a 27.8pc annual growth during the fourth quarter of 2021/22, according to the National Bank of Ethiopia.  

Feb 4 , 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


“No evidence of famine.”

Steven Were Omamo, a former country director of the World Food Programme (WFP) for Ethiopia, blamed leaders of the international aid community for asserting famine during the war in northern Ethiopia without the necessary food insecurity data to underpin it. In a recently released book, “At the Centre of the World in Ethiopia,” he admitted “without a doubt” that there was deep food insecurity in the Tigray Regional State.

Fortune Video


Sunday With Eden

Victims of Futile System Blame

Folks awed by the devastating national exam results have ignored the massive crisis that engulf the academic sector for nearly half a century. The country has shied away from the embarrassing catastrophe. Instead of addressing the fundamental source, society is absorbed in tedious arguments blaming students, who are victims of the inefficient system. From the conversations I had with public sch...

Feb 4 , 2023

Rooted Problems Require Modern Solution

A young graduate I met,  asked me to find him a job so that he could make a living. I was shocked to see his academic transcripts corroborate that he was a medical doctor. He has exhausted all options for finding a job in his profession. The excuse given to h...

Jan 28 , 2023

The Power of Unlearning Chaos and Claiming Responsibility

Those who think all parents could be good examples at all times should look no further than the teenage girl I met recently. She wrote to me in the email she found in this newspaper asking for advice. After reading her email, I was compelled to meet her in per...

Jan 21 , 2023

Life Matters

Easy or Safe: the Saving Life

Inspired by the stories of business people who started small, I have been on the quest to decode the custom-made recipe of wealth for the past few weeks. These entrepreneurs had very small businesses that bloomed and blossomed into empires, and I was curious to learn how. Businesses that did not show any progress over the years; the people running them also have not changed much. On the con...

Feb 4 , 2023

When Life Gives Lemons, Make Lemonade

I spotted this woman who was standing by herself at a"small" wedding ceremony I had a chance to attend, exclusive to close family and friends. She did not precisely seem into the whole shenanigan. The bride's relatives kept nudging her to join them, but she re...

Jan 28 , 2023

The Cost of Truth in Relationships

I found myself in an awkward situation one of the days last week. The plan was to have lunch with two of my friends, but one of them was fashionably late, so we started chatting while having a macchiato. My friend led off with how she felt left out, ignored...

Jan 21 , 2023


Port Rebrands as New Terminal Launches

The dry port terminal at Dire Dewa city commenced last week with a 3.5 billion Br budget. Formerly referred to as Ethiopian Shipping and Logistics Enterprise(ESLE) the institution has also rebranded its name and logo to Ethiopian Shipping & Logistics (ESL). The dry port lies on 34.1hct and has the capacity to carry 128,000 containers annually comprising office buildings, a warehouse, a cont...

Feb 4 , 2023

Abyssinia Bank Taps to Digital Loan Solution

The Bank of Abyssinia (BoA) is moving forward to provide banking solutions facilitating microloans. The Bank has hired an Indian-based tech vendor Newgen Software Company, that bagged the international bid on December 22, 2022. Over 10 companies have shown interest in the bid floated by the bank four months ago. The solution provider has committed to completing the project in six months with Yo...

Feb 4 , 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