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Cement Industry Shake Up Leaves Regional States, Agents Unimpressed


Regional state officials and cement distribution agents are in an uproar over new rules under consideration for the distribution and marketing of cement. Legal experts at the Ministry of Trade & Regional Integration (MoTRI) have proposed a dra...

June 25 , 2022


Fortune News

Mayor Adanech Receives Cabinet Approval to Compensate Farmers

Mayor Adanech Abiebie has won the approval of the Addis Abeba City Cabinet to give reparations to hundreds of farmers in the capital's peripheries who have lost land for infrastructure development, ro...

June 25 , 2022

Fortune News

Addis Abeba City Admin Under Extensive Restructuring, Reshuffle

The Addis Abeba City Administration is undergoing an extensive reshuffling leading the number of bureaus and offices down to 45. It is the second administrative restructuring attempted in the capital...

Fortune News

Inside Dashen's 230m Br Data Centre

Dashen Bank has rolled out a data centre for nearly a quarter of a billion Birr. Installed by two local firms, the centre is expected to enhance networking and security systems at one of the country's...

June 25 , 2022


Latest Updates

FAO Gets Nod to Supply Fertiliser to Farmers in Tigray

Months of effort from Chimimba David Phiri, Ethiopia's representative of the Food & Agriculture...

June 25 , 2022


NEW ERA FOR PUBLIC ENTERPRISE

The squad at the helm of public and regulatory economic institutions attended a conference inside th...

June 25 , 2022







Agenda

Sunday Markets Fleeting Success Battling Inflation

It was a cloudy Sunday two weeks ago, not ideal for outdoor events. The grey sky quickly engrossed Addis Abeba as the rainy days set in. Yet, the dreary weather did little to deter thousands of people from making their way to the government-run Sunda...

June 25 , 2022


Metal Industries Plighted Despite Prospects in Domestic Reserve, Demand

Half a dozen workers were lounging on a bench outside a factory shed on the outskirts of Addis Abeba during working hours last week. The company's expansive com...

June 18 , 2022


Crime on the Rise in Addis Abeba

The Addis Abeba Police Commission headquarters on Dejazmach Belay Zeleke St., appear rather serene from the outside. Located near Siemen Hotel, the facility com...

June 11 , 2022







Editorial

The Local Elections Everybody Forgets About

It is not the best of times to be in charge of governance in Ethiopia, whether at the federal or regional levels. The news of atrocities coming from around the country is horrific. Enervating insecurity over the past four years in all but Somali R...

June 25 , 2022


Central Bank Shoots Itself in the Feet. Again!

Some of Ethiopia's economic policymakers may take solace from realising that inflation is a global phenomenon. It would be unwise to disregard their reading on what transpires around the world. In the United States, inflation reached a four-decade high; the Un...

June 18 , 2022

What Agenda the Budget Bill Serves?

The stereotype many people have of parliamentarians is as clueless seat fillers who exist to rubber stamp legislative bills drafted by the powerful executive body of government. To defeat the stereotype, lawmakers have yet to show as much autonomy of thought a...

June 11 , 2022







Exclusive Interview

Focus on Migrants, Families, UN Remittance Head Urges

Fortune: - The remittance inflow to Ethiopia is around three, four billion dollars? This is against a population of a 100 million, and an annual GDP of 100 billion dollars. How do you see this in comparison with other countries at a similar level of economic development? Amil: Remittances are a c...

April 22 , 2022


AfDB Boss 'Cautiously Optimistic' about Africa

For the first time in two years, an African Union summit was held in Addis Abeba earlier this month. On the agenda were COVID-19, political instability and debt sustainability. One of the attendants was Akinwumi Adesina, president of the African Development Ba...

February 12 , 2022

CEO of Fintech Firm Finds 'Sleeping Giant' in Africa

Fortune: Your company alludes to the African market’s unique set-up from other parts of the world. Why is that? Is it a combination of being unbanked and a lack of monthly subscription models? Or is it something else? Frank: Digital payments are growing a...

January 22 , 2022







Viewpoint

As Risk Evolves, Finance Sector Left in the Dust

Regardless of the outcome to any nation, they cannot be thinking of risk and finance the same way following the global financial crisis. Directly or indirectly, all countries have been affected. Ever since the global financial crisis, companies worldwide have changed their focus on risk management. This process has been accelerated by COVID-19, war and geopolitical events. Today, what was once a c...

June 26 , 2022


How to Fuel Inflation, then Harm the Environment

Inflation has become a hot-button political issue worldwide. In the United States, the consumer price index increased at an annual rate of 8.6pc in May, and EU inflation is not far behind. The root cause of the problem is that too much money is chasing too few...

June 25 , 2022

The Less Fashionable Path Out of Global Food Crisis

A global food crisis is looming, so policymakers everywhere need to think hard about how to make food cheaper and more plentiful. That requires making a commitment to producing more fertiliser and better seeds, maximising the potential offered by genetic modif...

June 18 , 2022


My Opinion

The Present's Not Irrelevant. The Future Less So

The world does not discuss artificial intelligence (AI) enough given its potential to disrupt every aspect of our lives on a scale that will make the introduction of the internet look like child’s play. The restraint is understandable. In the end, the technology has not developed fully and reached as wide accessibility as expected. There is still no Blade Runner-level artificial consciousness or...

June 25 , 2022


Interest Rates Get Interesting

The US Federal Reserve is not playing around anymore. After months of insisting that inflation is “transitory,” it has now declared war, firing what amounts to weapons of mass destruction at American economic activity. Last week, it raised federal funds in...

June 18 , 2022

Crypto Comes for the Coachmen

If there is a government unprepared for decentralised digital currencies, it should be that of Ethiopia’s. There is neither a stock market, sophisticated financial products, foreign banks, nor a secondary bond market. To skip all of this and face the challen...

June 11 , 2022






Featured

Wedding Industry Rejoices Business Rebound

Matrimony is never a dull affair in Ethiopia. Contesting "My Big Fat Greek Wedding", it is noisy, elaborate, extensive, expensive and joyous. Come wedding season, and the streets are bustling with long convoys, honking horns and flashing their turn signals. Hana Berhanu, 30, envisioned such a wedding since her youth. She had been planning a picture-perfect wedding after graduating in electrical engineering from the Addis Abeba University and landing a job a decade ago. Over the past five year...

May 28 , 2022


Commentaries

When Corruption Meets Instability, the Fight Needs to be Holistic

The effects of corruption, likely to be fuelled by the country's prevailing political and economic instability, on good governance and development are of concern to many. It is worrying because it can erode public trust in leaders, government, and public institutions, and harm the social contract. Corruption in Ethiopia has not always received the attention it deserves. There was this belief that it was not as severe as in other African and low-income countries. It was also believed that corr...

June 25 , 2022


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

1,850,356,900

proposed capital spending for Jigjiga University for the coming financial year. It is the highest among public universities.

June 25 , 2022


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...

October 3 , 2020


Verbatim

Takele Uma, minister of Mines, said accusing 972 miners of failing to comply with terms and revoking their licenses.






Fortune Video




Sunday With Eden

Life Offers No Graduation Party

Last year, I met a young and charming medical doctor through a mutual friend. Our friendship quickly grew. She told me about her engagement before she informed anyone else. I was happy for her. The following weekend, I met her fiancé, the man I had heard many great things about from her. He was friendly, calm, and looked decent. As if we had known each other for long, we chatted and laughed. I...

June 25 , 2022


Marriage Doesn't Fix Abusers. Leaving Them Does

Last year, I met a young and charming medical doctor through a mutual friend. Our friendship quickly grew. She told me about her engagement before she informed anyone else. I was happy for her. The following weekend, I met her fiancé, the man I had heard m...

June 18 , 2022

Art of Surviving a Wedding: Peace

Mine was many people’s dream wedding, I was told by many. It was held at Sheraton Addis, where my high school graduation was held and my father wanted me to wed. The celebrity guest list impressed many, and the wedding video was released live on social media...

June 11 , 2022


Life Matters

In Polite Society, Split the Bill

Some live in a distant universe where they are oblivious to norms. There are unspoken rules. For instance, if two friends dine together, unless one of them insists on paying, they usually split the bill. Many times, one friend suggests they treat the others. It is different with close friends because whoever has the money automatically pays and might not ask the others to chip in on the bill. A...

June 25 , 2022


Good Shopping Requires Etiquette

I consider myself lucky when it comes to many things. But my luck runs out during shopping. I often end up buying clothes I do not like or would not wear twice. Whenever I plan to buy clothes, I do not find what I am looking for, or I do not have money on me w...

June 18 , 2022

Domestic Abuse Turned on Its Head

As I passed by a group of men the other day, I heard loud laughing. I thought the guffaw was directed at me, although I did not think through why they would do such a thing. It was not the usual catcalling I had come across. Whenever we hear people laughing...

June 11 , 2022





Radar

World Bank, Fed Agree on $715m in Funds to Fight Food Insecurity

The World Bank Group and the Ministry of Finance have signed an agreement for 715 million dollars to go towards fighting food insecurity. Most of the financing (600 million dollars) is earmarked for the implementation of a Food Systems Resilience Programme. A third of the amount is in the form of grants, while the balance is credit. An additional 115 million dollars is pledged for improving...

June 25 , 2022


Ministry Revokes Hundreds of Mining Concessions

The Ministry of Mines has revoked the licenses of 972 for alleged non-compliance with the terms of their exploration and production permits, and involvement in illicit trade.  Among those on the receiving end of the measure is Kefi Gold, a firm that has been conducting gold exploration in the Western Wellega Zone of the Oromia Regional State for over a decade. The 2,000hct exploration area is est...

June 25 , 2022

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...

March 14 , 2021


NEW MESQEL SQUARE

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...

February 13 , 2021