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FRANCE'S SOFT POWER MAKEOVER


France and Ethiopia have reinforced their bilateral relationship with a landmark agreement signed on Saturday, November 30, 2024, increasing access to education and preserving cultural heritage. During his official visit last week, France's Minister...

Dec 1 , 2024


Fortune News

Addis Abeba Tightens Fire Safety Rules Fighting Rising Blazes

Addis Abeba is taking a hard look at its fire safety protocols as the city's Fire & Disaster Risk Management Commission introduces a directive to reduce fire incidents by over 70pc, a move that has bu...

Dec 1 , 2024

Money Market Watch

As Brewed Buck Buckles, Economy Plays Tug-of-War with Liquidity, Sustainability

The Brewed Buck's persistent depreciation against the US Dollar continued unabated over the six days of last week, uncovering the mounting pressures on the fragile economy, besieged by a severe liquid...

Dec 1 , 2024

News Analysis

Ahadu Bank Finds a Footing, But Policy Cloud Path to Ambition

Ahadu Bank, one of the youngest financial institutions in the market, has made a noteworthy recovery from substantial losses during its founding years, posting a net profit of 90.9 million Br in the f...

Nov 24 , 2024


Latest Updates

Investment Holdings Revamps CBE's Boardroom

Brook Taye (PhD), CEO of Ethiopian Investment Holdings (EIH), Ethiopia's sovereign wealth fund, has...

Dec 1 , 2024


Parliament to Phase Out Urban Freehold Tenure

A bill proposing sweeping reforms to the urban land lease system was tabled in Parliament last month...

Dec 1 , 2024


Weathering Sustainability Auditing Storm

Accounting & Auditing Board of Ethiopia (AABE) is urging accountants and auditors to adopt inter...

Dec 1 , 2024








Agenda

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 products. The price for a quintal of cement has sharply dropped by 27pc to 1,700 Br. Ov...

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


Perfect Storm of Climate, Health, Supply Chain Issues Trigger Resurgent Malaria

Malaria is no stranger to Ethiopia. Every year, the disease poses a public health issue, especially in rural regions where the majority of the population lives...

Nov 16 , 2024







Editorial

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 a...

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

Bound by Debt, Government's Costly Love Affair with State Bloat

In the realm of public finance, balance sheets speak louder than rhetoric. In such domain, public enterprises are colossal monuments to misplaced confidence, harbouring debts that tower like unscalable peaks with implications rippling across generations. Howev...

Nov 16 , 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

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, experts and policymakers have reacted to this confluence of crises with dread and doom. One typical response is to lament our many probl...

Dec 1 , 2024


Life Without Loss in the Pressing Fight to End Maternal Deaths

No mother should give her own life to give life to another. Unfortunately, preventing maternal mortality remains a persistent global challenge. The third United Nations Sustainable Development Goal (SDG) commits countries to reduce their maternal mortality rat...

Nov 30 , 2024

Can Technology End Corruption?

Corruption disproportionately affects the poorest and most marginalised communities, making it an economic and social tragedy as much as a political issue. According to the World Economic Forum, corruption costs the world economy an estimated 2.6 trillion doll...

Nov 23 , 2024


My Opinion

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 world's soils are under immense strain. Droughts are increasingly turning fertile land into deserts, while pesticide use drastically reduces so...

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

What Donald Trump's Return Means for the World

Donald Trump's resounding victory should not have come as a shock to anyone. The 45th and 47th President rode an unprecedentedly strong anti-incumbency wave that has severely punished almost every governing party around the world at the ballot box this year. V...

Nov 16 , 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

Empty Promises, Soaring Emissions, and Climate Summits' Farce

The latest climate summit has been as hypocritical and dysfunctional as everyone before it, with most world leaders not even bothering to turn up. Still, 50,000 people flew in from across the world while essentially telling the rest of us to stop flying. Poor-country politicians performatively staged a "walk-out," and rich countries ended up promising a climate slush fund of 300 billion dollars a year. This extravagant payoff is unlikely to happen, just like previous fanciful pledges made ove...

Nov 30 , 2024


News Analysis

Ahadu Bank Finds a Footing, But Policy Cloud Path to Ambition

Ahadu Bank, one of the youngest financial institutions in the market, has made a noteworthy recovery from substantial losses during its founding years, posting a net profit of 90.9 million Br in the fiscal year 2023/24. The turnaround came after the Bank absorbed a hefty loss of 193.68 million Br the previous year. For Sefialem Liben, the Bank's president, the story is not so much about the amount of profit as it is about how it was achieved in the face of several policy changes. The National...

Nov 24 , 2024


Delicate Number

4

Children out of school in Amhara Regional State due to an ongoing militarised conflict, claiming 31.5pc of the national figure.

Nov 30 , 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

"What embodies public interest?"

Wubshet Berhanu (PhD), former manager of the Addis Abeba City Administration, was baffled last week commenting on a revised bill on urban land lease under the legislative process in the Parliament.  



View From Arada

No Pain, No Gain Detour Until the Dust Settles

One morning, I had the rare chance to drop off my son at his class at Addis Abeba University. Being on vacation made this possible. Under normal circumstances, getting to work on time and dr...

Nov 30 , 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

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 unfamiliar route home. It was not because I wanted a change of scenery or was exploring new path. It was because of a three-liter bottle of cook...

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

Human Face of Public Service

There are certain promises we make to ourselves—things we swear never to do again. I had made such a promise about taking the city bus. Anyone familiar with Addis Abeba's public transport knows the experience: buses are frequently packed beyond capacity, wit...

Nov 16 , 2024





Radar

Nib Faces Liquidity Storm, Weak Governance

Nib International Bank registered a net profit of 957.9 million Br in the year, declining by 549 million Br and 36pc from the previous year. However, the Bank made a comeback in paid-up capital registering 7.6 billion Br, showing a surge of 25pc. Assets decreased by 13pc to 67 billion Br while deposits fell 24pc to 45.1 billion Br. Loans and advances reached 49.2 billion Br as its equity increase...

Dec 1 , 2024


Customs Commission Sets Another Franco Valuta Deadline

The Ethiopian Customs Commission has given importers who used the franco valuta system up to December 26 to finalize the import of their goods. This pertains only to importers who purchased the merchandise and registered their import documents to the Commission before November 7. The Ministry of Finance had previously offered a two-week window for merchandise imports made through the scheme to fin...

Dec 1 , 2024

In Picture

TRANSPORTABLE TEA

Workers in Merkato take a break in a small pocket of land with trucks surrounding them. Two women cater to them with drinks and food. Informal food services provided by women carrying items in baskets, particularly those catering to porters, are a common sight throughout Addis Abeba, especially around construction sites and in large marketplaces. This practice, often overlooked, plays a crucial ro...

Dec 1 , 2024


SHADE SEEKERS

Two men find respite under a makeshift shelter crafted from branches and leaves. The shelter, though simple, seems to provide a cool haven from the heat for the would-be farmers or laborers. The humble refuge, though temporary, offers a brief escape from their daily grind, symbolizing the resourcefulness and resilience of farm workers. ...

Dec 1 , 2024




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