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



Auditor General Identifies 7.4b Br in Overdue Accounts Recievable


Auditor General Identifies 7.4b Br in Overdue Accounts Recievable

The Federal Auditor General, which has audited 117 federal offices and 35 branch offices, has identified 7.4 billion Br worth of overdue accounts receivable from the 2019/20 fiscal year. Some 90 offices were found to be guilty of the mishap with just four government institutions responsible for over half of the amount. The National Disaster Risk Management Commission has 1.9 billion Br in overdue accounts receivable, 1.5 billion Br from the Ministry of Health, the Ministry of Innovation & Technology has 614 million, and the Ministry of Science & Higher Education is sitting on 402 million Br. In addition, three offices were found to have uncollected advance payments from contractors amounting to 106.7 million Br. The auditor's report added that federal offices have 2.4 billion Br in unsettled collectable amounts that have remained outstanding for between one and five years; and 1.02 billion Br from five to ten years. The report states that the accumulation of these uncollected incomes would further tighten the chances of finalising collection. It advises the federal offices to collect receivables and settle them according to the law.

[ssba-buttons]

Radar

Customs Authorities Intercept Major Alleged Contraband Shipment Worth 422 Million Br

The Customs Commission seized alleged contraband goods worth more than 422 million Br during inspections conducted between June 25 and June 30, 2026. The haul included clothing, electronics, ammunition, construction materials, coffee, vehicle spare parts, cosmetics, khat, narcotics, minerals, livestock and foreign currency. The Addis Abeba Airport, Moyale and Awash customs branches recorded the largest seizures, valued at 115 million Br, 93 million Br and 61 million Br, respectively. Authorit...


Radar

Hijira Bank Posts Record Growth as Assets Reach 31.45 Billion Br

Hijira Bank posted 3.55 billion Br in income in 2025/26, exceeding its combined earnings over the previous four years, while gross profit reached 1.9 billion Br. Assets rose 115pc to 31.45 billion Br, deposits doubled to 24 billion Br, and capital increased 202pc to 7.45 billion Br. Digital transaction value surged 86pc to 41.72 billion Br, foreign currency earnings reached 158 million dollars, and total banking transactions hit 615.39 billion Br. The bank also disbursed 1.5 billion Br in col...


Radar

Gadaa Bank Offers One Million Shares to Public Investors

Gadaa Bank has offered one million shares to the public at 1,050 Br per share following approval from the Ethiopian Securities Exchange (ESX) on June 22, 2026. The share sale keeks to expand the bank's capital base and strengthen shareholder value. The offering will run until September 17, 2026, and is open to existing shareholders and new investors who meet ESX requirements. It is open to existing shareholders and new investors who meet ESX requirements...