Berhanu Jula (Field Marshal), chief-of-staff of the Army, told federal legislators his view of Ethiopia’s loss of access to the sea.

Berhanu Jula (Field Marshal), chief-of-staff of the Army, told federal legislators his view of Ethiopia’s loss of access to the sea.
The budget in Birr approved by the Council of Ministers for the Council of Constitutional Inquiry for the fiscal year 2025/26. This is one of the most glaring variances in the entire budget bill, as the Council requested over 1.6 billion Br, an amount 3,671.63pc larger than what has been approved.
The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC.
Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for 67 distinct services rendered by the Commission. Under the revised scheme, fees for services such as investment permit issuance, trade name registration, work permits, and construction approvals now range between 25 and 155 dollars within the Commission’s One Stop Shop.
In parallel, service fees are significantly higher for investors operating within Free Trade Zones such as Dire Dawa. Issuance of a new investment permit in these zones, inclusive of related registration and documentation services, is set at 1,000 dollars as related services such as work permits and business licences range from 300 to 750 dollars, five times higher than their One Stop Shop counterparts.
The Commission justifies the increases as part of efforts to modernise service delivery and recover administrative costs. It marks a departure from the previously modest charges that had remained largely unchanged till recent years.
The directive is expected to impact mainly foreign investors, particularly those pursuing industrial and commercial projects in Special Economic and Free Trade Zones.
The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation.
According to the Administration’s statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the residents.
The proposed budget comprises 249.9 billion Br allocated for capital expenditure and 100.1 billion Br for recurrent expenditure. The Administration noted that the budget was prepared with a strong emphasis on fiscal prudence, prioritising savings and cautious spending.
If ratified, the new budget will finance a wide range of initiatives targeted at narrowing the inequality gap and responding to urgent social and infrastructural needs within the city. Authorities have signalled that a significant share will be directed towards urban development programmes, public transport modernisations, and service improvements in health, education, and housing. The draft is now pending review and approval by the City Council.
The long-shuttered plot at Mexico Square finally breathes again as fences come down, revealing a vast open space once hidden from public view earmarked for Abyssinia Bank’s future headquarters. The site now stretches bare and sunlit, drawing curious passersby, midday loungers, and a lone umbrella-shaded onlooker. In a city of concrete and congestion, even temporary emptiness feels like a quiet revolution. It now showcases a wilderness in the middle of the busy streets of Mexico.
Minalesh Tera, one of Addis Abeba’s busiest and most chaotic markets, draws hundreds if not thousands daily in search of cheaper essentials. Shoulder-to-shoulder crowds navigate narrow, dusty paths between makeshift stalls, where vendors hawk everything from onions and engine parts to plasticware and traditional remedies. It’s a sensory overload and a lifeline rolled into one, an open-air maze where the practical meets the unexpected, and affordability drives the city’s daily grind.
From left: Jantirar Abay, Deputy Mayor and Head of the Industry Bureau; Ayderus H.M. Farag, CEO of Alfarag Trading PLC; and Getaneh Adera, Acting CEO of Ethiopian Airports, chat during the opening of Alfarag’s refurbished duty-free shops at Bole International Airport on June 18, 2025. The two stores, located in Terminal 2’s Departure Hall, span 1,000sqm. Alfarag, established in Dire Dawa in 1923, became Ethiopia’s first private duty-free retailer in 2003.
The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia’s reform goals and the Sustainable Development Agenda.
The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing the 5 billion dollars gap to support key areas: food security, digital development, climate resilience, gender equality, and youth empowerment.
With 28 UN agencies in Addis Abeba, coordination will be led by Empowered Results Groups. State Minister of Finance Semereta Sewasew urged full alignment, while UN Resident Coordinator Ramiz Alakbarov (PhD) promised to mobilise global partnerships to support implementation.
The plan launches in July 2025. Its success will depend on donor funding, coordination, and Ethiopia’s resilience in the face of economic and climate challenges
The Ethiopian Electric Utility (EEU) estimates 6.8 billion dollars is needed to ensure universal access to electricity by 2030. Around 37pc of the population remains without power, while the rest use a mix of grid and solar sources.
Esubalew Tenaw, process and quality management general manager, said the project is in early research stages, funded internally. He noted rural expansion will require federal support, given low tariffs and limited returns.
“It’s a joint effort involving government, financiers, and EEU’s own resources,” he told Fortune, adding that finalisation and approvals are underway.
Only 33pc currently have grid access. The target is to reach 78pc in five years.
The EEU is also ramping up its call centre workforce from 230 to 600 operators. The 905 hotline, which served up to 13,000 daily in three shifts, is expected to handle more after the upgrade.
The Ministry of Trade & Regional Integration has reported the deposit of over 4.8 million Br into the government treasury from fines imposed on traders found guilty of engaging in anti-competitive business practices during the 2024/25 fiscal year.
According to the Ministry, four traders were penalised after being found in violation of competition laws, with each ordered to pay five percent of their annual sales turnover. The total amount collected reached 4,832,652 Br, as confirmed by Getnet Ashenafi, head of the Anti-Competition and Law Enforcement Prevention Desk.
In parallel, consumer protection efforts led to the recovery and investigation of 2.59 million Br related to complaints over faulty or misrepresented goods. Consumers who lodged complaint were offered redress through either full refunds or replacement of the defective goods, without incurring additional costs.
Getnet stated that a total of 23 investigations into alleged anti-competitive commercial activities were conducted during the fiscal year. Of these, 19 cases were finalised, resulting in legal assessments and administrative decisions issued by the Ministry.
The Ministry indicated it would continue to strengthen enforcement activities and public awareness campaigns to deter future violations and promote ethical business conduct across the country.
Dashen Bank has introduced a new secure deposit service for storing valuable items, including precious metals, gems, legal documents, and securities. The service is equipped with advanced security systems and targets individual and institutional clients, particularly those in the mining sector.
Andualem Belete, director of Treasury Management for Dashen Bank, said the offering allows customers to rent safe deposit boxes of various sizes at designated branches. Clients will receive a special ID after fulfilling requirements at the Bank’s head office.
“This is not just about revenue, it’s about safeguarding what matters to our customers,” Andualem noted, adding that the initiative will also generate annual rental income for the Bank.
Dashen, recognised for its customer-centric approach and digital innovations like the SuperApp, plans to expand its service portfolio further. The Bank has encouraged customers to utilise this high-security storage option as part of its continued focus on asset safety and convenience.
The Ethiopian Statistical Service (ESS) has expanded its Consumer Price Index (CPI) coverage from 120 to 200 markets, marking the first major update in 25 years. The move comes in response to rapid urbanisation and the formation of new regional states, aiming to provide a more accurate reflection of national price trends.
Inflation dropped to 14.4pc in May 2025 EFY, down from 22.8pc a year earlier. The decline was mainly driven by food inflation easing, with bread and cereals up just 1.3pc. However, non-food inflation remained elevated at 17.8pc, led by transport costs, which surged 41.4pc year-on-year. Housing, water, and electricity rose 18.8pc, while restaurant and hotel prices increased 18.3pc.
Coffee and other nonalcoholic beverages saw the steepest annual rise at 47pc, underscoring the pressure on household budgets. Monthly inflation rose slightly by 0.2pc in May, though clothing and footwear jumped 2.8pc. Health costs fell by 2.6pc the only major category to register a drop.
The 12-month moving average inflation rate fell to 16.5pc, down from 27.4pc in the same month last year. The ESS attributes ongoing non-food price pressures to import dependency and forex shortages. While the expanded CPI network aims to improve data quality, structural challenges such as currency weakness and external supply shocks persist.