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A PIECE OF THE PIE


Champagne popped and poured; and a cake was cut to celebrate another milestone for Ethio telecom, still the only active operator in the country. The state-owned telco launched its loan and savings services as it continues pushing the boundaries in th...

August 6 , 2022


Fortune News

Ministers Council Nods to Hospitality Incentives in Bid to Combat Slowdown

The hospitality industry has entered the list of economic sectors that enjoy tax exemptions and incentives from the federal government after the Council of Ministers approved a regulation last month....

August 6 , 2022

Fortune News

Agricultural Authorities Reconsidering Maize Export Embargo

Federal authorities are contemplating the reversal of a decade-long ban on maize export. A team of experts from the ministries of Trade and Agriculture will begin assessing the viability of lifting th...

August 6 , 2022

Fortune News

Fed to Scale Up $200m National ID Programme

Yodahe Zemichael seems determined to push the national ID project past the pilot stage, onboarding up to 10 million people in the next phase. Tasked to oversee a nationwide identification card prog...

August 6 , 2022


Latest Updates

Education Ministry Attempts to Ease Academic Misgivings through Overtime Pay Rework

The federal government has reworked guidelines for overtime compensation payments across public high...

August 6 , 2022


Ethiopian Shipping Eyes $15m Truck Fleet Expansion

The Ethiopian Shipping & Logistics Services Enterprise (ESLSE) executives are finalising a deal...

August 6 , 2022








Agenda

Deluge & Disaster

It is one of the seven rivers that flow across Addis Ababa, snaking its way down from the hills of Yeka to a new neighbourhood on the outskirts of the capital - Goro. The narrow streets along the riverbank were filled last week with debris. Water tha...

August 6 , 2022


Electric Cars Turn Heads as Fuel Costs Climb

The seats and ambience inside are expectedly comfortable, with typically clean minimalist touches. The cabin feels eerily silent, free from the roaring sounds o...

July 30 , 2022


The Eternal Public Housing Saga

The Bole Bulbula area depicted a typical rural scene not so long ago. It was flush with open swathes of farmland dotted with a few modest homes sparsely inhabit...

July 23 , 2022







Editorial

Finance to the Tiller! Plebiscite on the Land Question

Few initiatives by the administration of Prime Minister Abiy Ahmed (PhD) have been publicised as aggressively as self-sufficiency in agriculture production. To be precise, it is about scaling up wheat farming. With an ambitious stroke, Minister Umer...

August 6 , 2022


What Do New Banks Offer Their Older Cousins Don't?

Ethiopia’s banking industry is not merely underdeveloped. It has historically regressed. Calls for the financial sector to open for international capital, technology, network and skill remain dwarfed in the face of nationalistic disguise to shelter it from f...

July 30 , 2022

Tweaking Tax Policies No Silver Bullet to Fund Budget Deficit

The flip side of a government spending plan is financing. Behind the campaign promises, capital expenditures, public sector wage raises, and social welfare programmes is a dilemma. How can all of this be funded? How should the financing be structured? And w...

July 23 , 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

Social Research into Urbanites Leaves Much to be Desired

Social research and advocacy are common practices these days. Almost every country in the world undertakes social research to implement change. In 2022, the top four countries conducting social research are the United States, United Kingdom, Australia and Canada. The results are mainly aimed at improving people's general well-being and living conditions. Social research has positive effects whe...

August 7 , 2022


The G20 in Age of War

Last October’s G20 Leaders’ Summit – held in Rome, and hosted by then-Italian Prime Minister Mario Draghi – produced a declaration brimming with promises to “address today’s most pressing global challenges” and “converge upon common efforts to...

August 6 , 2022

Ethiopia's Inflation: Need to Trash Done-to-Death Script

As the world recovers from COVID-19, the pattern of economic growth appears to inject more pain into the global population, pushing more and more people into poverty. The World Bank estimated that the pandemic would push an additional 88 million to 115 million...

July 30 , 2022


My Opinion

The Hollow Mantra of Protectionism

Talking to people, it is hard not to be surprised at the level of misunderstanding about the economy, what drives it and how solutions could be arrived at with existing resources. Take debates about opening up the economy. The discourse is being had by anybody but economists or people with business backgrounds. Most die-hard arguments against privatising or liberalisation are not by people who...

August 6 , 2022


The Shareholder Base Spectrum: Amhara Bank Vs Tsehay

It seems that there is a new bank opening its doors every week. The latest was Tsehay Bank, which commenced its operations with a ceremony as its headquarters last week. A week before that was Ahadu Bank, and Amhara Bank about a month earlier. Over the past ye...

July 30 , 2022

The Stakes to Interest Rate Hike

There is a phrase we hear a lot these days: interest rates. It is a key indicator rocking financial markets worldwide and creating economic havoc through a massive capital flight from emerging markets. It is not surprising. Inflation and interest rates are the...

July 23 , 2022






Featured

Marks to Erase: Tattoo Removal Business Booms

The traditional tattoos in the shape of a cross on her chin and forehead tell a story. It is not much of a leap to guess from the intricate markings that Feleku Kassa, 29, was raised in rural Ethiopia. She was sitting in a medical recliner, wearing a rather uncomfortable expression, as she listened to a nurse, Selam Hailemichael. Feleku was attentive, receiving an orientation about a treatment she would get that day. She was anxious about what would happen afterwards. The nurse was preparing...

July 9 , 2022


Commentaries

Insurers Ought to Cut Prices Less, Satisfy Customers More

Delivering a superior customer experience takes more than developing a mobile app or adding a call center staff. It requires significant investments, relentless improvements, and collaboration across customer channels and business functions. Improving customer satisfaction can be an engine of profitable growth, but it demands a common vision and new levels of coordination across organisational silos. It is the core of growth, including for insurers, especially during claims management; the pa...

August 6 , 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

370

public enterprises privatised since 1995, most of which were nationalised by the Dergueregime.  

August 6 , 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

A joint press statement by the European Union and the United States said that it should now be more possible to restore services in the Tigray Regional State after the Tigray People's Liberation Front (TPLF) leaders issued a letter providing security guarantees for staff working on repairs.






Fortune Video




Sunday With Eden

Success Intoxicates the Faint-hearted

A few months ago, my husband introduced me to a wealthy woman who had recently lost her husband of fifty-five years. She has several businesses and giant commercial buildings around the capital’s prime locations. But her house is filled only with the necessary items. From how they lived to how they presented themselves, it is hard to tell the family carries so much wealth. When I lost my belo...

August 6 , 2022


Repair but Not Compare: The 'Right' Marriages Say

Before tying the knot, my husband and I spent over a year in premarital counselling with several couples. We also read books about marriage, but nothing compared to the lifetime advice those couples walked us through. Knowing that so many things will be new to...

July 30 , 2022

Don't Make Hopefuls Buy Their Rights

We do not value our freedom to travel until it gets systemically restricted, preventing people from exploring the opportunities abroad that can benefit them and their country. It is a lesson learned the hard way by the hopefuls I mentor. Sponsored training...

July 23 , 2022


Life Matters

Face the Rain Like Men

As the rainy season gets wetter, accompanied by heavier rain showers, it is not unusual to see folks with umbrellas. Little do they know that how we respond to rain defines our personality. People who stand and wait for the rain to pass are patient, reserved and risk takers. Those of us who prefer to walk in the rain as opposed to waiting for it to pass are impulsive, impatient and a bit adventuro...

August 6 , 2022


Street Vendors Deserve Dignity Too

I was getting off the taxi a week ago when I saw two law-enforcement officers holding what appeared to be a small box for charger cables and ID holders. In front of them was a street vendor pleading with them. He looked sad. Why would he not be? Imagine...

July 30 , 2022

Zombification of the Senses

Thanks to social media, something seems to happen every week, which plays an endless loop of information and misinformation. There are parodies, reaction videos, conspiracy theories, news, and the novelty of TikTok at our disposal, just a click away, wherever...

July 23 , 2022





Radar

UN Agencies, Gov't Appeal for $73m in Refugee Funding

The United Nations World Food Programme (WFP), the UN High Commissioner for Refugees (UNHCR), and the Refugees & Returnees Service are appealing for 73 million dollars in funding to provide food to over 750,000 refugees in Ethiopia. Funding shortfalls have already forced the WFP to cut rations for refugees residing in 22 camps and five sites in the Afar, Amhara, Benishangul-Gumuz, Gambella...

August 13 , 2022


HONOURING MEDIA

Media personalities gather on stage on the occasion of the inauguration of "Mezgebe Amero," a book that has the biography of 180 people in the media, at the National Theatre on August 5, 2022. Media personalities and their spouses were also honoured...

August 13 , 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