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Oct 13 , 2024 . By AKSAH ITALO

Coffee Exporters Left Steaming as Central Bank's Forex Grind Brews Trouble

A recent directive is roiling the coffee industry, following the Central Bank's requirement that exporters convert half of their foreign exchange earnings into local currency within 30 days. Exporters say it is squeezing them at a precarious time. "The deadline is too unrealistic," said Abdu Huss...

Oct 6 , 2024 . By BEZAWIT HULUAGER

Addis Abeba University's Autonomy Shuts the Door on Brightest Minds

For as long as he could remember, 18-year-old Menase Samuel had dreamed of studying software engineering at Addis Abeba University (AAU). Like many of his peers, he saw AAU as the pinnacle of higher education, a gateway to opportunities that could lift his family out of poverty. When the University announced it was accepting applications for self-sponsored positions, Menase did not hesitate. Despite lacking a financial support letter from his local kebele — a requirement for assistance — he rushed to apply, believing he could resolve the affordability issue later. "I didn't want to m...


Sep 28 , 2024 . By BEZAWIT HULUAGER

Inflation, Insecurity Leave the Tourism Industry Smouldering

For 43-year-old Alemnesh Neri, travels to her hometown of Gumer in central Ethiopia have long been a cherished tradition. Twice annually for the past 22 years, she would make the trip from Addis Abeba, laden with goods and gifts for family and friends. This year, however, spiralling costs and mounting logistical problems have forced her to cut back her visits to only once. Items that used to cost her 5,000 Br now have skyrocketed threefold. Inflation has dramatically eroded her purchasing power. Transportation expenses have tripled, soaring threefold from 500 Br, further straining her modes...


Sep 22 , 2024 . By AKSAH ITALO

Legacy Businesses Face Succession Struggles, Market Shifts

Heleanna Georgalis never anticipated that she would become the fourth-generation proprietor of Moplaco Trading Plc, a venerable coffee trading company founded in 1897 during Emperor Menelik's reign. But in 2008, her father's sudden death thrust her into the unfamiliar and daunting world of business. Still overcoming profound grief, she found herself at the helm of the family enterprise, sailing uncharted waters alone. "I had to get into the business, or it would have collapsed," she recalled. "I had to toil relentlessly, all by myself." The emotional toll was immense, and it took over a...

Agenda

Sep 14 , 2024

Holiday Market Dampened by Rising Food Prices

Atkilt Tera, located in the Haile Garment neighbourhood, has not seen its usual activity. The vibrant market stalls for vegetables now stand largely empty, and the scarcity of onions, in particular, h...

Sep 8 , 2024

Online Market Thrives During Festive Season

Mekdes Endale's business journey began after her return from Dubai, where she lived for two and a half years. Like many businesses born out of necessity, she launched Mekdi Surprise & Delivery to...

Sep 1 , 2024

Public Hospitals' Drug Shortages Reveal Deep-Rooted Budget Issues

An attendant at Minelik II Referral Hospital, Kindu Berihun was shocked by the cost of surgery needed for his relative. The patient, a 28-year-old bartender was rushed to the hospital last week due to...

Aug 25 , 2024

University Lecturers Grieve for Reform Amid Pay Disparities, Professional Struggles Chronicles

For Nega Gudetaa, a hydraulics lecturer at Mizan Tepi University in South West Regional State, becoming a researcher was a lifelong dream. He graduated with honours, yet the reality of his career has...

Aug 18 , 2024

Rising Costs, Inflation Threaten Insurance Industry

Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to accidents. For two years, his insurance company had reliably covered his claims, but a recent visit to the insurer...

Aug 11 , 2024

Substandard Drugs, Fractured Pharma Market: Bitter Pills Patients Swallow

On a rainy afternoon, Almaz Teshome, draped in yellow and black, walked through the 8th-floor hallway of Tikur Anbessa Specialized Hospital (TASH). She had just visited her 30-year-old son, newly diag...

Aug 4 , 2024

Businesses Brace for Floating Impacts

Last week, a soap and detergent manufacturer was in the middle of finalising a seven million Birr import payment for chemicals, mandatory input for his production. On July 29, 2024, he was hit with ja...

Jul 28 , 2024

BREWING DISCONTENT

Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently switched to local brews following a 20 Br increase in beer price...

Jul 21 , 2024

Tradition Meets Transition

Bole Airport Area Residents' Idir members gathered at a consumer association cafeteria around Cape Verde St for their monthly meeting. What began as a routine gathering turned into a storm of confusio...

Jul 13 , 2024

Finance Sector Poised for Ambitious Transformation Under Governor Mamo Mihretu

Ethiopia's financial industry is undergoing substantial transformation under the stewardship of Governor Mamo Mihretu, the 10th governor of the National Bank of Ethiopia (NBE). The series of reforms i...

Jul 7 , 2024

Addis Abeba Residents Caught Between Promises and Reality

Last week, the corridors of the Addis Abeba Housing Bureau were filled with residents whose faces reflected a mix of fear and distress. Among them was Tigist Adane, a 42-year-old teacher, who learned...

Jun 29 , 2024

Booming Lights, Burdened Businesses

The modern-day social hub, Bole Road, has seen yet another transformation with multiple landmarks demolished— Olympia is no more. A grey hue has taken over, accompanied by commercial buildings which...

Jun 22 , 2024

Curriculum Quake Shakes Private Schools' Foundations

Last week was a shocking revelation for parents who send their children to one of the 84 private schools barred from registering students for next year. Gibson School Systems, which serves over 10,00...

Jun 15 , 2024

Rent Regulation Law Sparks Mixed Reactions

On a rainy afternoon last week, property owner Tenaye Zewde, 60, stared in dismay at the new contract she was expected to sign with her tenant. She had come to the wereda 04 Qirkos District offices af...

Jun 8 , 2024

Riding Apps High on Demand, Low on Safety, Affordability

Fistum Tadesse, 31, ventured into the taxi-hailing business three years ago, driven by a desire for safety and autonomy. His previous stint as a cross-border driver left him vulnerable to unsafe route...

Jun 1 , 2024

Quest for Quality Lost in a Maze of Knockoffs

A 26-year-old site engineer, Mizab Ahmed, fumed with anger. Two months ago, he had visited the Autobis Tera area, excited to snag a pair of Beats headphones from his monthly salary of 20,000 Br. He p...


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With the Horn Edging to the Brink, Regional Leaders Should Extol Trust

In his inaugural address on October 27, 2024, Taye Atseqesellasie, the fifth president sin...

Editorial | Oct 12 , 2024

Beyond Borders Ethiopians' Journey to Healing

Nine months ago, Worku Hailu found himself in India, thousands of kilometres from home, un...

Featured | Oct 6 , 2024 . By HAWI LEGESSE

Coffee Exporters Left Steaming as Central Bank's Forex Grind Brews Trouble

A recent directive is roiling the coffee industry, following the Central Bank's requiremen...

Agenda | Oct 13 , 2024 . By AKSAH ITALO

COFFEE EXPORTERS ROAST CURRENCY RULES

A new directive by the Central Bank requiring coffee exporters to convert half of their fo...

Fortune News | Oct 13 , 2024

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