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Ambitious Federal Budget Exhibits Urban Glitz Over Rural Grit


The federal government's budget for the fiscal year 2024/25, unanimously ratified by Parliament following a month-long series of hearings, unveiled a mix of ambition and caution. With substantial investments earmarked for regional states' subsidie...

Jul 7 , 2024


Fortune News

Addis Abeba Eyes Multi-Billion Birr Bridges to Ease Traffic Woes

Transport authorities are considering a grand bridge construction project to improve the Addis Abeba light railway system and address long-standing traffic congestion. Estimated to cost 1.2 billion Br...

Jul 7 , 2024

Fortune News

Ethiopian Eyes Lucrative Nonstop Routes as Airbus Report Unveils Untapped Potential

Ethiopian Airlines can eye an opportunity to grow and expand by introducing nonstop flights on unserved or underserved routes, a recent study from Airbus revealed. The study identified 11 routes that...

Jul 7 , 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

GLITS, GAINS, AND PAINS!

Addis Abeba's boulevard - Africa Avenue (Bole Road) and surrounding districts - are undergoing a fac...

Jun 29 , 2024


Tigray State Makes Desperate Plea

The situation in the Tigray Regional State remains dire, with profound economic crises exacerbating...







Agenda

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 Adane, a 42-year-old teacher, who learned that her home of over two decades near Qera would...

Jul 7 , 2024


Booming Lights, Burdened Businesses

The modern-day social hub, Bole Road, has seen yet another transformation with multiple landmarks demolished— Olympia is no more. A grey hue has taken over, a...

Jun 29 , 2024


Curriculum Quake Shakes Private Schools' Foundations

Last week was a shocking revelation for parents who send their children to one of the 84 private schools barred from registering students for next year. Gibson...

Jun 22 , 2024







Editorial

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, whe...

Jul 7 , 2024


Autonomy in Action: Will Mamo Mihretu Redefine the Central Bank?

In a spirited bid for autonomy, the National Bank of Ethiopia (NBE), under its youngest Governor yet, Mamo Mihretu, aspires to redefine its relationship with the government, the public, international partners, and the industry it regulates. The liberal notion...

Jun 29 , 2024

From Waning Inflation to Fiscal Strain, Budget Bill Walks Between Hope, Affliction

Ethiopia's economic reality is a study in contrasts. Positive signs, such as declining inflation rates for food and non-food items, could imply that monetary policy measures might have restrained price escalations. According to official data from the Ethiopian...

Jun 22 , 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


The Digital Economy's Growing Time Tax

Despite the rapid proliferation of artificial intelligence (AI) chatbots and virtual assistants, finding an answer to a question that a company's software is not programmed to address can be frustrating. Searching through countless options on price-comparison...

Jul 7 , 2024

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 in...

Jun 29 , 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


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...

Jun 29 , 2024

Can Qatar Ease Tensions with Somalia, Reshape Horn of Africa Geopolitics?

In a recent turn of events, Prime Minister Abiy Ahmed (PhD) has reached out to Qatar, potentially seeking its mediation in the diplomatic tensions with its southern neighbour Somalia. A letter from Prime Minister Abiy, delivered by Finance Minister Ahmed Shide...

Jun 22 , 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

Post-Harvest Losses Remain Ethiopia's Billion-Dollar Food Dilemma

Ethiopia faces a pressing challenge in feeding a population projected to reach 205 million in the next 25 years. While increasing food production is necessary, the country can enormously boost its crop output and ensure food security by enhancing post-harvest management practices. Studies reveal that merely improving agricultural productivity will not suffice; reducing post-harvest losses is equally critical to increasing the volume and quality of available food. Post-harvest losses in Ethiop...

Jul 7 , 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

64,000

The number of taxpayers (businesses) registered in Ethiopia, which paid 83.6 billion Br in profit tax in 2022/23.

Jul 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

"Don't waste time."

Prime Minister Abiy Ahmed (PhD) told a Parliamentary session last week that a group of "elders" are conspiring to overthrow his government. He asserted that any attempt to stage a coup d'etat in Ethiopia would be futile.



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


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 o...

Jun 29 , 2024

The Power of Unwavering Faith

Most people who knew me would describe me as someone with strong faith. I used to consider myself the same way. However, the sudden passing of my father shattered my once unwavering faith. Lost and adrift in grief, I retreated from the world. Watching my husba...

Jun 22 , 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


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 claustroph...

Jun 29 , 2024

Deadly Shortcuts Behind the Wheel

While riding the bus the other day, I noticed a young woman deeply engrossed in a phone conversation. She was recounting the story of finally getting her driver's license, vividly describing the difficult exams and the "token of appreciation" of 1,000 Br alleg...

Jun 22 , 2024





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


E-Consultation Portal Launched to Boost Stakeholder Engagement

An e-consultation manual and portal designed to enhance stakeholder engagement in the drafting of laws before their final ratification stage was launched last week. Developed by the Business Environment & Investment Climate (BEIC) project team, the platform operates under the oversight of the Justice and Technology ministries. It aims to improve transparency, efficiency, awareness, and effe...

Jul 7 , 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


FERTILE FANCIES

A corrugated tin fence is painted over with greenery and trees around Arat Kilo as the corridor development project snaking through the neighbourhood nears its end. The high fences have become ubiquitous across Addis Ababa, hielding locations incompatible with the city's reimagined aesthetic. Mayor Adanech Abiebe revealed two weeks ago that the ambitious project tallied up to around 33 billion Br...

Jul 8 , 2024




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