FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds



Takele Uma Forms New Cabinet

Takele Uma, deputy mayor of the capital, formed a new cabinet.


Takele Uma Forms New Cabinet

Takele Uma, deputy mayor of the capital, formed a new cabinet that was approved by the Addis Abeba City Administration Council on the opening session of its three-day regular meeting. Takele nominated 19 officials to head different offices under the City Administration. Of the new appointees, three of them are ladies. Among the 89 members who attended the session, 79 voted in favour of the nominations, while three were against and seven abstained. Endaweq Abite, who had been deputy mayor, was appointed as the coordinator of City Government Pubic Office Service Providers in the rank of deputy mayor. Before moving to the City Administration a year and a half ago, Endaweq was the CEO of the Ethiopian Sugar Corporation. The cabinet has approved the bill that is prepared for the establishment of a Student Feeding Agency. Expected to be governed by a board, having a director and deputy director, the Agency is expected to be accountable to the deputy mayor.

[ssba-buttons]

Radar

Abay Bank Lists on Ethiopian Securities Exchange as Fifth Entrant

Abay Bank Share Company began trading on the Main Board of the Ethiopian Securities Exchange (ESX) on June 25, becoming the fifth company to list after registering its ordinary shares with the Ethiopian Capital Market Authority (ECMA). The stock debuted at 1,800 Br a share, making all 9.66 million ordinary shares immediately tradable. The listing follows a year of strong financial and digital growth. For the fiscal year ended June 30, 2025, the bank reported a three-billion-Br profit, assets...


Radar

Court Freezes Bank Accounts and Assets in Cosmo Trading Dispute

The Federal High Court Civil Bench has ordered the Commercial Bank of Ethiopia, Awash Bank, Hibret Bank and Bank of Abyssinia to freeze accounts held by Cosmo Trading Plc and Haileyesus Mengistu, blocking transactions of up to 400 million Br. The order follows the House of Federation's April 27, 2026 decision to suspend enforcement of earlier commercial rulings while it reviews a constitutional dispute over inheritance and contested business assets. The case centres on a nine-storey hotel on...


Radar

Bule Hora, Kebri Dehar Universities Sign Austrian Partnership

Bule Hora and Kebri Dehar universities have signed separate memoranda of understanding with Austria's Leoben University to strengthen training in mining, petroleum and energy as Ethiopia seeks to build resource-based industrial capacity. The partnerships aim to enhance academic and practical skills in mining engineering, petroleum studies and energy systems, disciplines viewed as critical to the country's long-term extractive and industrial ambitions. Under the agreement, Bule Hora Univers...