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



South West Region Appoints Founding Head


South West Region Appoints Founding Head

The newly-formed South Western regional council has elected Negash Wagesho (PhD) as deputy head of the country's newest regional state. Negash Wagesho has served as a state minister for Water‚ Irrigation & Energy. Recently, he was re-appointed as a state minister for Water & Energy by Prime Minister Abiy Ahmed (PhD). The region's council held its first inaugural assembly last week and appointed a house speaker and deputy speaker. During the assembly, the 52 member council passed decisions pertaining to the structuring of the region. The South West Regional State came into being following a referendum held in September this year. About 98pc of the 1.3 million voters registered cast their ballots in favour of the region's formation. The referendum was held Bench Sheka, South Omo, Kafa, and Sheko zones as well as Dawro Special District in the Southern Regional State During its first extraordinary assembly held on October 30, 2021, the upper house of parliament approved the formation of the country's 11th regional state.

[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...