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Jul 1 , 2025

Parliament Passes Amended Law Allowing Limited Foreign Ownership of Residential Property

Federal lawmakers have passed the bill permitting foreign nationals to own residential property, with amendments addressing constitutional concerns raised during earlier debates. The final version of the bill, approved with four abstentions, limits foreign ownership to a single residential proper...

Jun 10 , 2025

Kegna Beer Debuts After Quarter of Billion Dollars Investment

Kegna Beverages S.C. introduced its flagship product, Kegna Beer, at a launch event in Addis Abeba's Convention Centre, near the CMC area, where more than 700 guests gathered to mark the occasion. The new lager, with a five-percent alcohol-by-volume (ABV) content, is brewed from malted barley, hops and water and will reach store shelves in mid-June in 33-centiliter and 50-centiliter bottles, as well as 30-liter kegs, the company disclosed. The brewery occupies 110hct in Ginchi, Oromia Regional State, and boasts a production capacity of more than three million hectoliters. “This isn't m...


Jun 10 , 2025

Fed Tables 1.93T Br Budget Bill During Strong Fiscal Consolidation Push

The Federal government has presented a budget bill before Parliament of 1.93 trillion Br for the fiscal year 2025/26. The budget, which federal lawmakers are currently reviewing, includes allocations of 1.2 trillion Br for recurrent spending, 415 billion Br for capital expenditure, 315 billion Br earmarked for transfers to regional states, and an additional 14 billion Br to help regional states achieve the Sustainable Development Goals (SDGs). According to Finance Minister Ahmed Shide, who delivered the bill to Parliament about 73pc of the planned spending, roughly one trillion Birr, is exp...


May 28 , 2025

CBE’s Sharp Shift Sends Birr Down 5.6pc

The state-owned Commercial Bank of Ethiopia (CBE) raised its cash exchange rate to 131 Br a dollar for purchases and 133 Br for sales, the steepest single-day move by the country's largest lender in six months and one market observers say signals a broader depreciation ahead. The jump came after the National Bank of Ethiopia (NBE) set its mid-market benchmark at 131/133.62 Br. Compared with the CBE's postings up until May 24, 2025, when dollars fetched 124.01 Br on the buy side and 126.49 Br on the sell side, today's quotes represent increases of 5.6pc and 5.1pc, respectively. The change...

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May 21 , 2025

Bill Granting Foreign Nationals Property Ownership Draws Criticism from Opposition MPs

A draft law proposing to allow foreign nationals to lease land and own residential property faced intense debate in Parliament yesterday, May 20, 2025. The legislative bill, tabled by the Council of M...

May 21 , 2025

Central Bank Eases Forex Rules for Importers, Travellers

The National Bank of Ethiopia (NBE) announced major changes impacting foreign exchange market, including substantially higher limits for importer advance payments and foreign currency cash for travele...

May 9 , 2025

BGI-Ethiopia Appoints a New CEO

BGI-Ethiopia Plc, a bottler of St. George beer, the oldest brand in the country, has appointed a new CEO, effective May 1, 2025. Pierre-Emmanuel Medard succeeded Herve Milhade, who announced his retir...

May 8 , 2025

Ethio telecom Launches a Digital Marketplace

Ethio telecom introduced a digital marketplace dubbed Zemen Gebeya, integrated within the telebirr SuperApp. The platform connects micro, small, and medium enterprises (MSMEs) with users across Ethiop...

Apr 30 , 2025

Heineken Bets on Communities to Brew Growth

Heineken Ethiopia Plc, the largest brewery, is spending 33 million Br on a new community development program for residents in Addis Abeba and Sheger City, in what its executives say is an extension of...

Apr 2 , 2025

National Takes Over Unilever Ethiopia

Unilever Ethiopia has appointed an Ethiopian national to run its business, the third multinational company in recent months to do so, after Coca-Cola Beverages Africa and Pepsi International elevated...

Apr 1 , 2025

Birr Gains Ground at Forex Auction, For a Change

The Birr traded at 131.71 against the Dollar at a central bank auction held today, marking a slight 2.96pc uptick. The National Bank of Ethiopia (NBE) offered 50 million dollars in what is now its...

Mar 13 , 2025

Tigray Region’s Economy Lies in Ruins as Post-War Recovery Falters

Two years after the devastating civil war ended, Tigray Regional State is struggling to rebuild. Its economy is battered, and prospects are grim, warned Getachew Reda, chief administrator of Tigray's...


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Soaring Taxes Fail to Plug Holes as Audit Reveals Enduring Waste

Meseret Damtie, the assertive auditor general, has never been shy about naming names, and...

Editorial | Jun 28 , 2025

Addis Abeba's Street Photographers Craft Futures Through the Lens

On a luminous Sunday afternoon at Mesqel Square, the chatter of conversation merges with t...

Featured | Jun 29 , 2025 . By YITBAREK GETACHEW

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Late June in Addis Abeba brings its first curtain of rain, a grey veil that slows the mini...

Agenda | Jun 29 , 2025 . By RUTH BERHANU

PRIVATE EDUCATION COSTS CLIMB FAST

Addis Abeba's first rains have coincided with a sweeping rise in private school tuition, p...

Fortune News | Jun 29 , 2025