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Capital Market Launch Unlikely Before Two Years


Efforts to form the country's first-ever capital market took a meaningful step last week, but there is a long way to realise an initiative floating around since the Imperial Era. A trading floor of the Ethiopian Securities Exchange will likely no...

May 21 , 2022


Fortune News

Exporters Face Ship or Lose Ultimatum, Again

Trade regulators have warned exporters to immediately ship oilseeds and cash crops they claim to have discovered stored at warehouses in Addis Abeba and other states. The authorities are pushing...

May 21 , 2022

Fortune News

Federal Warehouse Receipt Credit Scheme Ramps Up

Federal officials are moving forward with a belated initiative to form a regulatory body tasked with supervising a national credit scheme that facilitates loans for farmers, unions, and agro-proc...

May 21 , 2022

Fortune News

Agrochemical Importers Plead for Credit Extensions, Blame Logistics Disruptions

A consortium of agrochemical importers has pleaded with central bank authorities for an extension of waivers on commission fees paid to prolong letters of credit (LCs) and cash against documents (CAD...

May 21 , 2022


Latest Updates

License Plate Shortage Haunts Car Owners, Dealerships

Car buyers face a shortage of license plates as the federal agency responsible for manufacturing t...

May 21 , 2022


Manufacturer Leases Shed at Adama Park for Novel Recycling Venture

Plastic waste can be recycled into construction materials when a manufacturer starts production in A...

May 21 , 2022







Agenda

Education and Safety: Parents' Dilemma, Students' Anxiety

Hundreds of thousands of high school students prepare for matriculation exams, as Nahom Taye, 19, did. A native of Shashemene town, 260Km south of Addis Abeba, he has gone through the stress and anxiety associated with the tests, officially dub...

May 21 , 2022


Dismal Prospects, Rising Insecurity Make for a Sombre Homecoming

Hawi Teferi, 29, first left Ethiopia 10 years ago. The life-changing decision to set out to a faraway place was driven mainly by factors out of her hands. Sh...

May 14 , 2022


Grow to Perish: Fleeting Success in Horticulture

Wosenachew Tassew was a teacher in an Addis Abeba private school not too long ago. The 30-year-old eked out a decent living as an educator, enough to provide fo...

May 7 , 2022







Editorial

Capital Market Does Little to Help Crowded Out Private Sector

There was a great deal of handshaking and patting each other on the back at the Hyatt Regency, near Mesqel Square, where the bigwigs of the new economic policymaking team gathered. Ahmed Shidie, Finance minister, and Yinager Dessie (PhD), central ban...

May 21 , 2022


Macroeconomic Council's Glaring Omissions

Diana Yohannes is one of those actively engaging in social media platforms with her Twitter account @Shai-buna. She is enthusiastic about faith related subjects. But her recent tweet poked a pertinent question wondering how "people are making ends meet in Ethi...

May 14 , 2022

Stagflation Here: Damn If You Do, Damn If You Don't

The Ethiopian Economic Association (EEA) recently proposed the formation of a macroeconomic board to stabilise the galloping prices of goods and services. It may have been a desperate call in an era that disorients even the learned. It is understandable. Infla...

May 7 , 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

Addis Abeba’s Societies Evolve from Glossy Bole to Old Piazza

Addis Abeba is a fascinating city. I frequented different societies and observed that from one neighbourhood to another, the vision of the world could change radically. From Jemo to Bole through Sarbet. Young and old, western expats, members of the diaspora, employees of the African Union and Ethiopians from all over the country. Unemployed, retired, working, artists, students, and entrepreneurs....

May 22 , 2022


Professional Code of Ethics: Some Laws Meant to be Broken

Most professions, including those in medicine, psychology and social work, have rules of governance, procedures and a code of ethics that all practitioners must obey and respect. The rule implies that professions must be practised in accordance with the code o...

May 21 , 2022

French Influence Outside Its African Preserve, Inside Ethiopia

The 2022 presidential election, held last month, gave President Emmanuel Macron a second term as France’s head of state. He is only the second person this century to get two terms, and with Europe up in arms over the Russia-Ukraine crisis, he is in a unique...

May 14 , 2022


My Opinion

The Paul Volcker Hammer

Inflation has been reintroduced into discussions in the rich world. Since the 1990s, inflation was a phenomenon of bygone eras that did not affect highly sophisticated economies. By the 2010s, central banks were having a hard time reaching their inflation targets and were led to reducing interest rates to near-zero – a policy that led to an unprecedented time of cheap money in the global financi...

May 21 , 2022


Fuel Subsidies: Wolf in Sheep's Clothing

Last Saturday, the Ministry of Trade & Regional Integration dropped the bomb. Lines of cars have been queuing at fuel stations, hoping to hoard some black gold. It is no longer necessary now. Months of speculation about price hikes at the gas pump have bee...

May 14 , 2022

Lost Decades Back with Vengeance

The 2020s, and potentially the 2030s, could be one of those “lost decades” for Africa, Ethiopia included. William Easterly used the term to refer to developing countries’ stagnation in the 1980s. He conceded that indicators such as health, education and...

May 7 , 2022






Featured

Growing Speciality Coffee Market Promises Sweet Prospects

Habtamu Bogale is a farmer who takes a great sense of pride in knowing "every inch" of the thick highland forests of Keffa. It is hard to challenge, for he grew up in Keffa Zone, South Western Regional State, where he and his peers spent their youth watching parents grow coffee. The legend of coffee is in Habtamu and his friends' favour. Their native land birthed the word "coffee", which first entered the English lexicon in 1582, from the Dutch Koffie. The Dutch got the word from the Turkish...

April 22 , 2022


Commentaries

Realising Africa’s Sustainable Energy Future

Growing economies and growing populations mean growing energy needs. The international community must collaborate with developing countries to meet those needs through universal access to energy that is affordable, reliable, and clean. At the same time, we must enable a just and equitable transition away from coal and other fossil fuels, in accordance with the goals of the 2015 Paris climate agreement. Nowhere is this truer than in Africa, which has rich solar- and wind-energy potential and h...

May 21 , 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

418,000,000

export revenues, in dollars, from the industry sector over the first 10 months of the financial year, according to the Ministry of Industry.

May 21 , 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

Melaku Alebel, minister of Industry, said about war quoting Ray Dalio, American hedge fund manager.






Fortune Video




Sunday With Eden

From the Pressure of Tragedy, Coal Can become Diamond

Since my father’s passing, my health has been deteriorating. I was grieving deeply and unable to have proper sleep. I went without food for days. It felt like all my senses had disappeared. I did not feel hunger, thrust or get tired. I lived like this for over three months. I weakened mentally, physically, and emotionally. Recently, I went to a hospital abroad to check the reason for my persi...

April 22 , 2022


The 'Crime and Punishment' of Ethiopian Travellers

Last week, as I was travelling to Frankfurt, Germany, my country sent me to a foreign nation empty-handed. I had a visa and a plane ticket, all the documents banks required to sell Euros to me. But none of the banks I was directed to had euros or dollars to se...

April 16 , 2022

Pay for Play, Police Investigators Dare Insist

Following our home robbery in broad daylight, we filed a case at the police station in our district. The police's handling of the case was equally as disturbing as the robbery itself. It also answered my question about why robberies thrive in the capital city...

April 2 , 2022


Life Matters

Got Watery Milk? Or Useless Roach Killers?

Adulteration is getting out of hand. Consumers in Ethiopia are being left to their own devices, with authorities tasked with consumer protection failing to do their job. Take the little creatures that are impossible to get rid of from our houses. I have been sheltering them at home rent free for almost four months now. The guests prefer the kitchen as they happen to adore food. I cannot go arou...

May 21 , 2022


It's Okay Not to Be Okay with Life

It is impossible to talk about life without bringing up death. Death seems distant, something we often try to avoid discussing. We only realise the possibility when we either come near it or when someone close to us passes away. Afterwards, we are haunted for...

May 14 , 2022

TikTok's the New Facebook

In this time and age, where everyone seems to claim to know about politics and even dares to judge others in charge, it is hard not to get political. It is hard not to say something, at least to voice one's concern. It is not easy to raise the national disc...

May 7 , 2022





Radar

Corporation Calls on Suppliers for 200,000tn Sugar Procurement

Executives of the Ethiopian Sugar Corporation have taken steps to procure 200,000tn of sugar from international suppliers. The Corporation had invited shortlisted companies to submit offers, after an attempt to procure the sugar through an international tender went awry. However, officials at the Ministry of Finance instructed its executives to scrap the invitation and proceed to float a second...

May 21 , 2022


Leather Industry Struggles to Meet Expectations

The struggling leather industry managed a little over 33 million dollars in export earnings over the first 10 months of the financial year. It is less than half of officials' aspirations to generate 69 million dollars over the same period, and highlights the troubles faced by the industry over the past few years. Exports from finished leather goods plunged 72pc last year from three years a...

May 21 , 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