City Stadium Revamp Leaves Businesses Stranded


City Stadium Revamp Leaves Businesses Stranded

Businesses nestled around the Addis Abeba Stadium are set for relocation, as the protracted renovation of the sports arena nears completion. Last week, law enforcement officers cleared the area where bikes and automobiles huddled in the parking space, following orders from the Ministry of Culture & Sports. Officials at the Ministry have ambition to revamp the location's image to sporting standards. In line with that, bars around the stadium are also poised for replacement when the renovation process is completed, which has fueled anxiety among business owners. The Minister of Culture & Sports, Kejela Merdasa, indicated that bars are completely against the spirit of physical exercise and would be replaced by sport-oriented establishments. "We hope the Ministry of Transport figures out what to do with the bicycle associations," he told Fortune. Four long-standing parking service associations that have operated in the area for around a decade have witnessed their daily incomes slashed since last week as the number of vehicles allowed to operate declined. The area around the stadium has been home to informal driving instructors who have honed the skills of urbanites in the oval grounds for decades. Mulugeta Shere, who has been averaging a daily income of 2,000 Br over the years, has become paralysed with fear as the business neighbourhood he grew up in is rendered a relic of olden days. "We can't insist on anything because we're unlicensed," he said.

[ssba-buttons]

Radar

Deposit Insurance Fund Grows to 15.1B Br, Signals Readiness for Crisis Response

Two years into its operations, the Ethiopian Deposit Insurance Fund (EDIF) has grown its asset base to 15.1B Br, reinforcing its role as a critical backstop for depositors and financial institutions alike. The Fund, established under a proclamation by the Council of Ministers, was designed to shield depositors in the event of bank or microfinance collapses. Since its inception, EDIF has focused on collecting premiums from member institutions, investing the funds, and building a system robust...


Radar

Rockefellers 100m Dollars Leap into Regenerative Lunches

As part of the UNFSS+4 High-Level Convening, a thematic session titled "Nourishing the Future through Regenerative School Meals" was held on July 26, 2025, at the Sheraton Addis on Taitu St. It brought together prominent figures including Ethiopia's former Prime Minister Hailemariam Desalegn, former First Lady Roman Tesfaye, and Kenya's First Lady Rachel Ruto. Organised by the Rockefeller Foundation, the event focused on overhauling child nutrition through regenerative agriculture. Sarah Farl...


Radar

Hijra Bank Backs Young Innovators with Awards, Loans

Hijra Bank has awarded five young Ethiopian innovators in the final round of its “Sirara” Creative Spark Awards, selected from over 27,000 applicants. The programme targets practical innovations in agriculture, sustainability, and appropriate technology. Top winner Milkias Ahmed (PhD) received a 300,000 Br prize and a 3 million Br interest-free loan for developing an organic soil conditioner from animal bones. Second and third prizes went to Yusuf Ali and Muhammad Juhar for a crop-harvest...