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




Capital Gets New Bread Factory

Oct 16 , 2021


[ssba-buttons]

A bread factory built at a cost of 217 million Br was inaugurated in Addis Abeba last week. Resting on 6,000sqm of land in the Lemi Kura District, the factory has the capacity to produce a million pieces of bread a day and is expected to create job opportunities for 450 people. The factory was inaugurated and handed over to the City Administration in a ceremony held in the presence of the Zinash Tayachew, spouse of Prime Minister Abiy Ahmed (PhD), and Adanech Abiebie, mayor of Addis Abeba. The latest project follows in the footsteps of Sheger Bread Factory, built by the MIDROC Investment Group in cooperation with the City Administration. Constructed last year, the factory is producing way below capacity because of wheat shortages and most of the shops opened to supply its output are closed as a result.


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...