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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 accident a while back, driving on the Addis-Adama expressway with his carbon blue Toyota Vitz...

Jan 21 , 2023


Fortune News

THE WEDDING BELLS TO RING LOUD

Fewer couples tied the knot in 2022 than the year before; the post-pandemic environment could be attributed to over 12,000 more married couples in that year compared to two years ago. The merriment se...

Jan 21 , 2023

Fortune News

Capital Rolls Out a 3.1b Br Rehabilitation Centre Project

A women's rehabilitation and skill development centre foresees construction as Mayor Adanech Abiebie laid the cornerstone two weeks ago. The 3.1 billion Br project lies on 5.1hct land located around Q...

Fortune News

Contractors Dry Out of Collaterals

Contractors are apprehensive about buying a policy from insurance companies as the requisite for collateral is half the performance bond. After insurers started to require collateral for policies, the...


Latest Updates

Venerated Institutions Get New, Younger Chiefs

Two federal offices of the highest stature saw newly appointed young leaders installed last week. Pa...

Jan 21 , 2023


Ethiopian Embroils in Lawsuit Over Bids to Acquire Stake in Nigeria Air

Ethiopian Airlines' entry seems to have irked domestic airlines in Nigeria the wrong way, as they ca...

Jan 21 , 2023








Agenda

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 accident a while back, driving on the Addis-Adama expressway with his carbon blue Toyota Vitz...

Jan 21 , 2023


It's One After the Other

Kalkidan, 36, a mother of two, makes a daily commute from her home around Ayat Tafo to the Amist Kilo area (covering 18Km) where she works. She moved to the cap...

Jan 14 , 2023


Sagged Holiday Market Grips Capital

One of the largest open markets, Shola Gebeya near the Megenagna area, was not radiating its usual ora. Shola is one of the largest trade hubs in Addis Abeba, h...

Jan 7 , 2023







Editorial

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 pe...

Jan 21 , 2023


Giving Ethiopia’s Tactical Peace Strategic Substance

The longing for normalcy and a semblance of individual and collective security in Ethiopia has been frustratingly long. However, if the quest for peace has anyone personifying it, Derartu Tulu, an Olympian, would have no match for her courage in speaking ag...

Jan 14 , 2023

Worldview May Drive the Administrations' Warped Priorities

The hallmark of Ethiopia's contemporary leaders could be a fascination with grandeur and beauty. From Prime Minister Abiy Ahmed's (PhD) projects of passion – such as Unity, Africa and Entoto parks – and Oromia Regional President Shimelis Abdissa's annou...

Jan 7 , 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




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Viewpoint

Leadership Transformation through Financial Engineering

The Ethiopian financial sector is leaning towards new products. It is not by choice, strategic breakthrough, using technology, or farsighted leadership skill but by the change in the global world and the pace that left no room to entertain traditionally. When we refer to our strategic pillars, golden opportunity flies as technology amasses the usual way of accepting business proposals. Everythi...

Jan 22 , 2023


Colonial Legacy or New Trade Route

As recorded in rock paintings, the earliest evidence of African trade shows they merchandised among their neighbours and traveled a long distance to make trades like ivory and salts. In today's Africa, most colonies continued to trade inexplicably with the col...

Jan 21 , 2023

Amplifying Security through Strong Health System

The COVID-19 pandemic has highlighted the importance of sustained investments in emergency preparedness. It significantly impacted economic activities and lowered resource availability for investments in health and well-being, creating a mutually reinforcing n...

Jan 14 , 2023


My Opinion

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 massive downturn coupled with the two-year civil war. The rebound effect has caused great hardship to the city's residents. Residents claim th...

Jan 21 , 2023


Marketable Skills to Harness Economy

The pandemic deranged the stalled global economic growth. COVID-linked disruptions in supply chains, leading to a spurt in raw materials prices and increasing production costs coupled with inflation, have become major headaches for global leaders to move forwa...

Jan 14 , 2023

What in the World Will Happen in 2023?

The American baseball player Lawrence “Yogi” Berra is widely quoted as observing, “It's tough to make predictions, especially about the future.” Whether or not he said it, the point is valid. Nevertheless, here are 10 predictions for the world for the...

Jan 7 , 2023






Featured

The Wedding Bells to Ring Loud

As the wedding season is upon the capital, Samson Ashenafi, 31, the firstborn of his family, envisioned a picture-perfect ceremony with his then-fiance, Hawi Getachew. The couple hankered a simple and intimate setting with no more than 100 people, but being from a deeply rooted traditional background where ceremonies are considered shallow if they do not have the whole nine yards, the pressure forced them to exponentiate the guest list more than five folds. They spent over 150,000 Br to rent...

Jan 21 , 2023


Commentaries

Privation Translates to Opportunity

The past year has been challenging for Africa. After a hopeful 2021, during which the continent-wide GDP increased by nearly seven percent and every region experienced real growth, the economy slowed in 2022 amid rising inflation, monetary tightening and geopolitical tensions. It was also a year where African countries were finally able to make their voices heard on the global stage. At the start of another critical year, with the continent's GDP projected to increase at a relatively modest p...

Jan 21 , 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

680

the capital account registered in US dollars in surplus during the third quarter of 2021/22, decreasing by 62.5pc from the same period last year, according to the National Bank of Ethiopia (NBE).  

Jan 21 , 2023


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

“Completely unfounded.”

Eyob Tekalign (PhD), state minister for Finance, posted on his Twitter page on January 19, 2023, dispelling persistent and widespread speculations that Prime Minister Abiy Ahmed's (PhD) administration is considering devaluing the Birr against a basket of major currencies.






Fortune Video




Sunday With Eden

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 person. The girl admits she has been rebellious during her early teenage years, often spending after-school time partying, trying illicit dr...

Jan 21 , 2023


Judging the Hypocrisy of Court House Trauma

I have never met anyone who appreciated court proceedings. It has become a traumatic experience from complex to simple cases and non-trial dispositions as files spend months to years on the shelves waiting for resolution. The lack of standards for the time...

Jan 14 , 2023

Promoting a New Culture: Examining Truth

During the era of Emperor Haile Selassie's coup d'etat attempt, history gives it that the palace vehicle drove around the capital city, publicly announcing that the emperor had been removed from power. The public went to the capital and joyfully welcomed th...

Jan 7 , 2023


Life Matters

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, and unappreciated in the friendship. I sympathized with her and tried to listen to her valid expressions while trying to give my point of...

Jan 21 , 2023


The Endless Quest for Control

I have had the chance to discourse with my psychologist friends, who told me about their experience with many clients with anxiety and other related psychological problems. During their sessions, most discovered that the need to control everything and everyon...

Jan 14 , 2023

Holy Christmas Lest Materialism

Christmas is perhaps one of the most festive holidays next to Timket or Epiphany. Although it is not celebrated outdoors, it still leaves its mark even after it has gone, shining with decorated trees and ornaments. For as long as I remember, my family celebrat...

Jan 7 , 2023





Radar

European Union, Ministry Launch Foreign Direct Investment Policy Briefs

Policy briefs on linking Foreign Domestic Investment (FDI) with domestic manufacturers and FDI attraction strategy to feed into forming a solid manufacturing base are hoped to come to life through a tailored combination of financial and investment incentives. The policies are hoped to encourage local sourcing, a connection to TVET in a pilot phase to build supplier capacity, and a public databa...

Jan 28 , 2023


CLEAN SWEEP

A young shoe shiner goes door to door, offering his services around the Stadium area. It is common in the capital to see young rural migrants engaged in physical labour, scraping change to send home. CHR Michelsen Institute (CMI) estimates that one out of three rural households has at least one family member migrating to cities. Extreme poverty and lack of access to farmland force many to look for...

Jan 28 , 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


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...

Feb 13 , 2021