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DREAM HOMES DEFLATE IN DOWNTURN


The once-booming real estate market faces a downturn, with developers struggling with declining demand and falling prices. Developers see demand for upscale apartments in the Bole District plummet to unprecedented lows, forcing them to slash prices s...

Feb 24 , 2024


Fortune News

Fertile Grounds, Barren Hope

A crisis looms over the fertile lands of Gambella and Benishangul Gumuz regional states, where the future of commercial farming was once in high hopes. Faced with the spectre of foreclosure, burden...

Feb 24 , 2024

Fortune News

City's Multibillion Birr Investment on Agri Hubs Aspires to Outsmart Inflation

A major initiative by the Addis Abeba City Administration targeting food inflation and improving accessibility to agricultural products is gaining momentum. Establishing three vast agricultural market...

Feb 24 , 2024

News Analysis

Rebranded Global Bank Ethiopia Doubles Profit in Liquidity Tussles

In a move that marks a year of transformation, Global Bank Ethiopia, formerly known as Debub Global Bank, has embarked on an ambitious course to redefine its corporate identity and boost its market pr...


Latest Updates

Transporters Tread Bumpy Road to Commercialisation

Public transporters are facing financial constraints and organisational hurdles as they undergo a tr...

Feb 24 , 2024


Africa Dances on Debt Volcano Edge with Inflationary Lava

The African Development Bank Group (AfDB) offered a sobering assessment of the continent's economic...

Feb 18 , 2024








Agenda

Realty Roulette

Abel Yeshitila, a real estate developer with a 12-year track record, finds himself unable to sell homes in his latest venture. Despite slashing the asking price for upscale apartments in the Bole District Welo Sefer area from 194,000 Br to 154,000 Br...

Feb 24 , 2024


From Red Bounty to Economic Red Flags

A red hue glistened the Haile Garment area, the vegetable hub of Addis Abeba, last week. It was prompted by heaps of fresh tomatoes flooding into the market at...

Feb 17 , 2024


Blooming Prospects, Wilting Realities

An Israeli-ventured Tal Flower Farms had witnessed eight years of blooming success, exporting millions of stems that graced tables around the world. A once vibr...

Feb 10 , 2024







Editorial

Green Ambitions, Nordic Illusions Mark Officials Leap into the Policy Abyss

The recent policy pronouncement by the Transport Minister, Alemu Sime (PhD), of a plan to ban the import of petroleum-powered vehicles for personal use has sparked a debate, if not anxiety. However, it touches upon the essence of governance, policyma...

Feb 24 , 2024


AU Bootcamp in Political Pageantry Where Promises Float, Actions Limp

In the vast auditoriums of Addis Abeba, far from the era when flamboyant figures like Libya's Muammar al-Gaddafi captivated the African Union (AU) stage, the continent's leaders convened last week in a more subdued assembly. The meeting, however, was not witho...

Feb 17 , 2024

Juggling Debts, Dodging Dollars, and the Inflation Boogeyman

In a last week session before Parliament, Prime Minister Abiy Ahmed (PhD) was seen adopting a tone of conciliation on several issues that also showed his administration's economic policy dilemmas. Yet he conspicuously omitted to raise some of the country's mos...

Feb 10 , 2024







Exclusive Interview

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 and construction business, cybersecurity...

Jan 27 , 2024


Inside the Quirky World of Ethiopia's Tech, Finance Mavericks

ABREHAM TILAHUN (Kacha) Abraham Tilahun, 40, married and a father of four, is an alumnus of Addis Abeba and Jimma universities and graduated in Banking & Finance and Accounting. Under his leadership, Kacha is the first private payment instrument issuer...

Jan 7 , 2024

Marcus Pledges to Offer Modern Ethiopian Experience

Fortune: What does opening a new restaurant feel like? Marcus Samuelsson: It is a homecoming. I have been in hospitality most of my life, so sharing this in my homeland is incredibly gratifying. Both Maya and I are thrilled and grateful for the hard work of...

Dec 23 , 2023







Viewpoint

The New Era of Corporate Involvement in Public Health

Corporations are increasingly moving into the public health domain. Companies like Amazon, Google, and Microsoft are being "pulled" by market opportunities for non-traditional actors to "disrupt" healthcare. Others are being "pushed" by the imperative – highlighted by events like the COVID-19 pandemic – to act as responsible community stakeholders, such as by helping to address health inequiti...

Feb 25 , 2024


Rich Nations' Hypocrisy of Climate Policies

Too many rich-world politicians and climate campaigners forget that much of the world remains mired in poverty and hunger. Yet, rich countries are increasingly replacing their development aid with climate spending. The World Bank, whose primary goal is to help...

Feb 24 , 2024

Out of Sight, Out of Mind: Africa's Children Left in the Cold by Policy Neglect

In a striking call to action, a report commissioned by the African Union (AU) has unveiled a distressing reality. No less than 35 million children in Africa, bereft of parental care, are being systematically overlooked by national child protection policies. Th...

Feb 17 , 2024


My Opinion

Somalia's Pact with the US New Geopolitical Chess?

Recent developments in the Horn of Africa serve as a case in the interplay between local ambitions, regional politics, and global strategic interests. Take Somalia, for instance. It has entered into a pact with the United States, permitting the latter to establish five military bases along its maritime coasts, the longest in the continent. Marked by a formal signing ceremony attended by Molly P...

Feb 24 , 2024


Unprecedented Honour Amid Controversy

In a surprising turn of events that has left many bewildered, the Food & Agriculture Organization (FAO), a United Nations agency, recently awarded Prime Minister Abiy Ahmed (AU) the esteemed Agricola Medal. This honour, bestowed for leadership and commitme...

Feb 17 , 2024

Tale of Survival, Strategic Alliances, and the Quest for Statehood

Over three millennia ago, the ancient Chinese military strategist Sun Tzu espoused the wisdom of leaving an escape route for besieged enemies. It is a philosophy that resonates with the harrowing experiences of the people of Somaliland. In their quest for r...

Feb 10 , 2024






Featured

URBAN TUNE AND TURMOIL

The strains of city life reach a crescendo for Abel Tesfaye, 29, when a new grocery store near his home around the Yeshi Total area into chaos. The relentless music, blaring from 8:30 PM until midnight, has become an unwelcome lullaby, disrupting his much-needed sleep after an exhaustive work shift as a graphics designer. "I come home tired and wake up without resting," he told Fortune. After 21 years of living in the area, Abel and his parents have only recently considered moving due to t...

Jan 19 , 2024


Commentaries

WTO Accord to Spur Global Growth with Landmark Investment Facilitation Deal

Every country is eager to attract foreign direct investment (FDI) – and for good reason. FDI facilitates capital inflows, creates jobs, drives skills development, and facilitates technology transfers, accelerating economic growth and enabling recipient countries to access global markets. However, global competition for FDI is fierce. To attract it, governments around the world have liberalised their foreign investment policies, established investment promotion agencies, and provided multina...

Feb 24 , 2024


News Analysis

Rebranded Global Bank Ethiopia Doubles Profit in Liquidity Tussles

In a move that marks a year of transformation, Global Bank Ethiopia, formerly known as Debub Global Bank, has embarked on an ambitious course to redefine its corporate identity and boost its market presence. The plan includes a new headquarters in the capital's financial district, hoping to enhance its stature in the banking industry. The announcement was made during the Bank's general assembly at the Millennium Hall in December last year, where Board Chairman Bikila Hurissa (PhD) emphasised...


Delicate Number

5

The percentage of growth the construction industry registered last year, a significant drop from a historical growth rate of 20pc. The construction industry represents 18pc of Ethiopia's GDP, estimated to be worth 103 billion dollars in 2023.

Feb 24 , 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

"A desperate state."

Sarah Vaughan (PhD), a research consultant and a fellow of the University of Edinburgh's School of Social & Political Science, spoke before the European Parliament about the alarming development in Tigray. According to Vaughan, the impending humanitarian catastrophe is no less dire than in 1988, when she first visited the area during the height of the civil war.



View From Arada

Africa's Exodus Breaking Chains, Building Recognition

In my early days, my daily commute to school involved passing by a villa enclosed on three sides by the then-Organisation of African Unity (OAU) compound. Journeying with the venerable Bus N...

Feb 24 , 2024




Fortune Video




Sunday With Eden

A Dish Served Cold: Chilling Reality of Eating Disorders

During a work deployment abroad five years ago, I encountered a woman whose frailty was evident in the prominence of her facial, arm and chest bones. Unable to speak the local language, her fluency in various international languages became my lifeline, easing my stay in unfamiliar surroundings. We worked for a different company but our shared legal background forged a quick and close connection...

Feb 24 , 2024


Scratching Beyond the Surface

My friend, who is a remarkable woman and once an orphan, is now a symbol of financial and career success. But her deepest aspiration was simple — to build a family and heal the wounds of her childhood. She found love that endured two decades, but a stark dif...

Feb 17 , 2024

Calling Out Menace of Corruption

From economic hardships to how things are handled in a bureaucratic environment, conversations began flowing at a recent gathering in my home. It brought to light a particularly troubling aspect of life and the unscrupulous means by which some residents secure...

Feb 10 , 2024


Life Matters

Triumphs Beyond Profit Margins

I am greeted by the sight of numerous women lining the streets upon returning home from work each day. Their offerings range from fresh produce to aromatic spices, frankincense and exquisitely crafted handiwork such as hats and tablecloths. My interaction may be limited to frequent glances with purchase plans usually not coinciding; but my attention is drawn to mothers stationed by the roadside...

Feb 24 , 2024


Unforgiving Trends of Service Pricing

Lately, I have embarked on inquiries regarding the pricing structures of various service providers. The motivation behind is a prudent approach to managing expenses while still enjoying occasional indulgence in treatments, rather than being driven by stingines...

Feb 17 , 2024

Parenting in the Playground

There are occasions when I find myself yearning to escape from children's quarrels, particularly when I am engrossed in a task that demands my undivided attention. When it involves children who are not of my kin, my tolerance level plummets to an absolute zero...

Feb 10 , 2024





Radar

Addis Chamber Embarks on Leadership Forum

A leadership forum where prominent executives will share their experiences in the business environment is organised by the Addis Abeba Chamber of Commerce & Sectoral Association (Addis Chamber) and SAK Training & Consultancy Firm. Headlining Arega Yirdaw (PhD), president of Unity University, who is expected to address the fortunes and adversities of the leadership ecosystem and share in...

Feb 24 , 2024


Addis Chamber Embarks on Leadership Forum

A leadership forum where prominent executives will share their experiences in the business environment is organised by the Addis Abeba Chamber of Commerce & Sectoral Association (Addis Chamber) and SAK Training & Consultancy Firm. Headlining Arega Yirdaw (PhD), president of Unity University, who is expected to address the fortunes and adversities of the leadership ecosystem and share in...

Feb 24 , 2024

In Picture

LOOKING GLASS

A public phone around the Gofa Mebrat Hail area evokes memories of a bygone era when access to a global network was not a mere dip into one's pockets. Telecommunication was introduced in 1894, with network interruptions during Italy's invasion. Ethiopia re-organised the Telephone, Telegraph and Postal services in 1941 and formed the Imperial Board of Telecommunications (IBTE) in 1952. Ethio teleco...

Feb 24 , 2024


FAST FASHION

A second-hand shoe market around  Sebategna is brimming with busy cobblers hard at work. Second-hand clothing is a thriving subsector in most Sub-Saharan countries shaped by import regulations and underdeveloped textile industries. The region accounts for nearly a third of the global second-hand apparel market, which is worth a little over four billion dollars. Entire shops and markets exist acro...

Feb 10 , 2024




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