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REFORM RATTLES PRIVATE SCHOOLS, PARENTS


Many parents were jolted by the city education authorities' decision to bar private schools from registering students for the next academic year. Among the affected schools is Gibson School Systems, an educational stalwart serving over 10,000 student...

Jun 22 , 2024


Fortune News

AG Meseret's Scathing Report Exposes Budget Chaos

Parliamentary tensions peaked last week following the Federal Auditor General's report that unearthed unprecedented financial mismanagement across various federal agencies. As legislators geared up to...

Jun 22 , 2024

Fortune News

Ambitious Capital Upsurge Seeks to Redefine Monetary Policy, Price Stability

A bill before Parliament proposes a dramatic increase in the Central Bank's capital to 20 billion Br, nearly 40 times its existing amount. If passed, the bill mandates that the federal government ensu...

Jun 22 , 2024

News Analysis

Stellar Year for Nile Insurance with Its Assets Booming

Nile Insurance's financial year concluded on a high note, posting an impressive performance, with premium collections exceeding industry averages and delivering substantial returns to its shareholders...

Jun 15 , 2024


Latest Updates

Djibouti Lauds Port Ranking Metrics Fail to Reflect Reality

Djibouti officials have raised objections over what they describe as "inconsistencies" in the evalua...

Jun 22 , 2024


Green Legacy Primed for Billions in Funding

A new bill proposing the establishment of a special fund, potentially worth billions of Birr, was pr...

Jun 22 , 2024








Agenda

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 School Systems, which serves over 10,000 students and employs more than 1,500 people, was...

Jun 22 , 2024


Rent Regulation Law Sparks Mixed Reactions

On a rainy afternoon last week, property owner Tenaye Zewde, 60, stared in dismay at the new contract she was expected to sign with her tenant. She had come to...

Jun 15 , 2024


Riding Apps High on Demand, Low on Safety, Affordability

Fistum Tadesse, 31, ventured into the taxi-hailing business three years ago, driven by a desire for safety and autonomy. His previous stint as a cross-border dr...

Jun 8 , 2024







Editorial

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...

Jun 22 , 2024


Will Ambitious Liberalisation Drown in a Sea of Bureaucratic Ineptitude, Corruption?

The Central Bank has tabled a draft banking proclamation to commercial bank executives, signalling the onset of reform its Governor, Mamo Mehiretu, has been promising since his appointment last year. Concurrently, the Ethiopian Investment Board has approved a...

Jun 15 , 2024

Sky-High Interest Rates, Fiscal Folly Uncover Deep Economic Distress

Ethiopia's businesses face an increasingly arduous task in securing loans, as capital emerges as one of the priciest commodities in the market. Borrowing costs are exorbitant, with commercial loan interest rates averaging around 20pc, making them among the hig...

Jun 8 , 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

Ethiopia Has the Digital Tools, But Can It Shift the Mindset?

Over the last two decades, Ethiopia has witnessed a remarkable transformation in its technology ecosystem, especially in telecom infrastructure and services. Since the mid-2000s, the telecommunications sector has undergone large-scale modernisation, laying down a national fibre backbone and deploying successive generations of networks. These efforts have increased coverage to broader geographical...

Jun 23 , 2024


Can Private Hospitals Increase Access to Health Care in Developing Countries?

In recent years, governments in low- and middle-income countries have been experimenting with ways to alleviate the financial burden of high out-of-pocket healthcare costs, accounting for 40pc of household's catastrophic health spending. To ensure universal ac...

Jun 22 , 2024

Progressive Tax Intentions Bring Regressive Outcomes for Low Income Earners

Ethiopia's progressive tax system, designed to distribute the tax burden more equitably across different income levels, ensures that higher-income people contribute a larger share of the country's revenue. The system is intended to fund public services and inf...

Jun 15 , 2024


My Opinion

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 to Qatar's Emir, Tamim bin Hamad Al Thani (Sheik), is reported - at least on the surface - hope to bolster bilateral relations. However, su...

Jun 22 , 2024


Lockdowns Looming Again? Lessons from the Past

Three weeks ago, former President Donald Trump expressed concerns about the possibility of left-wing hardliners in Washington reimposing COVID-19 lockdowns, warning Americans of scheduled orders that could disrupt daily life once again. Given the potential ram...

Jun 15 , 2024

Can National Dialogue Overcome Years of War, Diplomatic Missteps?

In January 2020, I expressed concerns about the dangerous trajectory of Ethiopian politics, attributing the descent into chaos to a political elite bent on war. I argued that certain groups, wielding disproportionate wealth, influence, and political power, thr...

Jun 8 , 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

In Breaking the Mold, the Cement Industry Faces Crucial Climate Test

The cement industry is on the cusp of transforming as federal authorities strive to meet ambitious emission reduction targets outlined in its Climate-Resilient Green Economy (CRGE) strategy. Launched in 2011, the strategy addresses the adverse effects of climate change while propelling Ethiopia towards becoming a middle-income country by 2025. The government has set a target to reduce emissions by 64pc from business-as-usual scenarios by 2030. Further initiatives as part of Ethiopia's nationa...

Jun 22 , 2024


News Analysis

Stellar Year for Nile Insurance with Its Assets Booming

Nile Insurance's financial year concluded on a high note, posting an impressive performance, with premium collections exceeding industry averages and delivering substantial returns to its shareholders. The firm posted a 51pc surge in net profit, reaching 298.3 million Br, positioning itself firmly between its peers: United and Nyala insurance companies. Under the managment of Nigus Anteneh, its chief executive officer (CEO), the firm attributed its success to soaring premium revenues, headed...

Jun 15 , 2024


Delicate Number

86

The dollar value of a loss caused by Japan's coffee import ban on Ethiopia due to high levels of pesticide residues. Coffee is one of Ethiopia's primary exports; such revenue loss due to non-compliance with international safety standards calls for better pesticide management and regulatory oversight.

Jun 22 , 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

"It's very shameful."

Bartemaw Fekadu, an MP, delivered a scathing critique of the audit findings presented by the Federal Auditor General, Meseret Damte, in Parliament last week. He thundered about the audit report's damning revelations, stating the alarming degree of financial unaccountability within federal agencies. He demanded greater accountability from government bodies.



View From Arada

Addis Abeba's Rush Hour River

Addis Abeba had been sweltering for most of May. The heat was unlike anything residents had experienced in a long time. The tables turned almost overnight. Looming clouds brought a sudden an...

Jun 15 , 2024




Fortune Video




Sunday With Eden

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 husband struggle alongside me only deepened the pain. It took two years to find my way back. But witnessing Zeritu Kebede's journey when she l...

Jun 22 , 2024


Legacy of a Superhero's Heart

On a seemingly ordinary weekend two weeks ago, our world was turned upside down. The phone rang, and the news my husband received sent a wave of shock and disbelief through our family, changing what was supposed to be an uneventful day in an instant. We learne...

Jun 15 , 2024

Breaking Free from Sour Relationships

We all seek friends who inspire us. But what happens when admiration takes a toxic turn? This was my experience with two individuals who initially offered guidance and support. But, beneath the surface, lurked a constant negativity, particularly towards the...

Jun 8 , 2024


Life Matters

The Power of Passion Projects

My friend confided in me about her growing frustration with her sister's newfound messiness. Usually tidy, her sister had become laser-focused on a new project, leaving clutter in her wake. My friend, burdened by the constant cleanup, realised this was not laziness. She acknowledged her sister's dedication but saw a truth that without passion, it is easy to fixate on others' flaws. It mirrored a t...

Jun 15 , 2024


The Power of Passion Projects

My friend confided in me about her growing frustration with her sister's newfound messiness. Usually tidy, her sister had become laser-focused on a new project, leaving clutter in her wake. My friend, burdened by the constant cleanup, realised this was not laz...

Jun 15 , 2024

Hacking the Hustle

For months, I have dreamt of launching a simple, low-cost business. Just planning it filled me with excitement, but taking the first steps – like getting a business license – felt overwhelming. Some lack ambition but excel at completing tedious tasks. Othe...

Jun 8 , 2024





Radar

Court Blocks BGI Ethiopia's Assets Trying High Stake Lawsuits

Judges at the Federal First Instance Court issued an injunction last week, halting the sale of BGI Ethiopia's headquarters and the transfer of shares in Brasseries International Holding Limited (B.I.H). The injunction, signed by Judge Girawork Yitbarek, ruled immediate delivery to the defendants. The legal action followed a high-stakes lawsuit filed by Zewudnesh G. Asrat, an 80-year-old woman,...

Jun 11 , 2024


Premier Pushes Domestic Drug Production

A six-day domestic pharmaceutical production and innovation expo was inaugurated by Prime Minister Abiy Ahmed (PhD) last week. More than 110 local pharmaceutical manufacturers participated at the Millennium Hall on Airport Road. Recently appointed Minister of Health Meqdes Daba (MD), said local production of pharmaceuticals has become a cornerstone of health policy, which received approval from...

Jun 22 , 2024

In Picture

TENDER TALISMAN

A strawberry moon peeks through the clouds above a half-finished building prepped for demolition. Native Americans coined the term for the red ambience that adorns the night sky during a full moon in June and the coincidental ripeness of strawberries in the season. The full moon — which reaches the crest of its fullness at 9:08 p.m. ET Friday — comes one day after the summer solstice, the day...

Jun 22 , 2024


CORRIDOR CONUNDRUMS

A three-month road around German Square confuses drivers and pedestrians following a hasty construction. Traffic accidents have become common in the area after the roundabout was removed to widen the road and simplify movement through the area. Above half a billion birr is lost to damages arising from traffic accidents annually in Ethiopia. Over 400 casualties and 3,471 injuries due to traffic acc...

Jun 15 , 2024




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