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In what has become common in the past four years, a new round of nominations was put before Parliament last week. These nominations by the Prime Minister did not receive unanimous votes as most political pundits expected. Members of Parliament, inclu...

Jan 28 , 2023

Fortune News

Wegagen Bank Bounces with Promise Despite Recent Adversities

Aklilu Wubet of Wegagen Bank and his executives had a lot to celebrate when they met rather anxious shareholders last December as they made a turnaround in the Bank's adversities and came out of the p...

Jan 28 , 2023

Fortune News

Oromia Public Enterprise Buys Ayka Addis Textile

The Oromia Public Enterprise is edging closer to bagging Ayka Addis Textile Factory for 1.82 billion Br. The factory, 20Km west of Addis Abeba, in Alemgena, Oromia Regional State, has been idle under...

Fortune News

Parliamentarians Grill Chief Whip Over Ministerial Confirmations

Last week saw an uncharacteristically polemical moment after parliamentarians questioned three nominees of Prime Minister Abiy Ahmed's (PhD) for ministerial positions, tabled for their confirmations o...

Jan 28 , 2023

Latest Updates

Afro-China Relationships Probe as Trade Reaches All Time High

Trade between China and Africa reached an all-time high of 282 billion dollars this year, as the mod...

Jan 28 , 2023


Fewer couples tied the knot in 2022 than the year before; the post-pandemic environment could be att...

Jan 21 , 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 round of a five-day "business training". Many were lured by the hope of gaining sizeable loans...

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

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


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 o...

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

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

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


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 concerns for Africa. The Africa Union and its member states tried to establish sound programs and deepened many institutions placed or renewed a...

Jan 29 , 2023

The Multilateral Financing Paradox

Multilateral development banks (MDBs) have become the darling of policymakers nowadays. In a recent speech, US Treasury Secretary Janet Yellen called on the World Bank and other international lenders to support developing countries struggling with the effects...

Jan 28 , 2023

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. Wh...

Jan 21 , 2023

My Opinion

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 reinforces the others. Even large segments of the global elite are wringing their hands over the perceived failures of markets, globalization, and g...

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

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


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


How Not to Fight Inflation

Despite favourable indices, it is too soon to tell whether inflation has been tamed. Nonetheless, two clear lessons have emerged from the recent price surge. First, economists' standard models – especially the dominant one that assumes the economy always to be in equilibrium – were effectively useless. And, second, those who confidently asserted that it would take five years of pain to wring inflation out of the system have already been refuted. Inflation in the US has fallen dramatically...

Jan 28 , 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


budget deficit financing from net domestic borrowings and external funds (including grants), in Birr, during the fourth quarter of 2021/22, according to the National Bank of Ethiopia (NBE).  

Jan 28 , 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



Brehanu Nega (Prof.), minister of Education, was quoted by the BBC, calling the exam results of school leavers, where only 3.3pc of the nearly 900,000 students have scored acceptable grades to join universities.

Fortune Video


Sunday With Eden

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 him by the medical directors was the insufficient budget for salaries. Although hospitals are in desperate need of medical doctors like this...

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

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

Life Matters

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 refused and lurked at the back. I kept watching her from across the hall, wondering why she looked unhappy. Then a few minutes later, I saw so...

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

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


European Union, Ministry Launch Foreign Direct Investment Policy Briefs

Policy briefs on linking Foreign Direct 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 database...

Jan 28 , 2023


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...

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