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Dec 5 , 2024

Parliament Passes Sweeping Real Estate Law to Regulate Distressed Property Market

Federal legislators have passed a landmark real estate law imposing strict regulations on property valuations and market practices, pledging to protect buyers and bring clarity to the otherwise disressed industry. Authored by experts at the Ministry of Urban Development & Infrastructure, the...

Nov 27 , 2024

IMF Nears Approval of $251m Loan to Ethiopia

The International Monetary Fund (IMF) is close to approving a 251-million-dollar loan to Ethiopia, applauding "progress in the economic reforms," which saw the exchange rate shift toward a market-determined regime. IMF staff which visited Addis Abeba last week reached an agreement with the authorities to conclude the second review of Ethiopia's four-year, 3.4-billion-dollar Extended Credit Facility arrangement. The Fund's Executive Board is expected to review and approve the agreement in the coming weeks. "Ethiopia's economic reform program, including the transition to a market-determine...


Nov 14 , 2024

Authority Rolls Out IPO Rules in Ambitious Push to Rein Confidence in Capital Market

The Ethiopian Capital Markets Authority (ECMA) has approved a long-awaited directive governing initial public offerings (IPOs) and trading of shares and securities, a landmark step toward establishing a regulated capital market. The new regulations mandate the registration of securities and require issuers to provide comprehensive prospectuses, including full financial statements, risk factors, and the rationale behind their offerings. The directive imposes on publicly traded companies heightened disclosure obligations. It introduces regulatory tools such as shelf registrations, allowing...


Nov 8 , 2024

Days of Easy Merchandise Imports via Franco Valuta Over

Ahmed Shide, minister of Finance, has banned merchandise imports under the Franco Valuta scheme, a system that allows importers to use their foreign currency without involving the central bank. The ban, excluding machineries and industrial raw materials, comes as the federal government wrestles with a foreign exchange shortage and mounting trade imbalances. Officials argue that while the Franco Valuta scheme was initially intended to address forex shortages by facilitating essential imports, it has become a conduit for unregulated transactions undermining efforts to stabilise the Birr. I...

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Oct 19 , 2024

IMF Unleashes Lifeline for Ethiopia, But Foreign Exchange Woes, Debt Talks Cast Long Shadows

The International Monetary Fund (IMF) has approved a 340.7 million dollar disbursement to Ethiopia, marking the first installment of a four-year, 3.4 billion dollar credit facility to stabilise the fr...

Oct 16 , 2024

Ethio telecom Launches Historic IPO for 10pc Stakes

The state-owned Ethio telecom has launched the first Initial Public Offering (IPO) in half century, floating 10pc of its shares to the public. Attended by Prime Minister Abiy Ahmed (PhD), at the Shera...

Oct 9 , 2024

Gas Stations Brace for Price Surge as Fed Scales Back Subsidies

The federal government announced a rise in retail fuel prices, adjusting a litre of benzene to 91 Br and diesel to 90 Br. Retail fuel prices have surged dramatically over the past five years, drive...

Oct 7 , 2024

Foreign Minister Taye Atskeselassie Becomes New President

Parliament today appointed Taye Atskeselassie, a foreign minister, as the fifth president of the Republic, succeeding Sahle-Worq Zewde, the first female head of state since the existing constitution w...

Oct 4 , 2024

Central Bank Injects $175m to Ease Forex Crunch During Fuel Import Strains

The Central Bank has injected 175 million dollars into the foreign exchange market responding to a severe forex shortage that threatens fuel imports and economic stability. The National Bank of Eth...

Oct 2 , 2024

Nib Bank’s Short-Lived CEO Finds a New Home at DBE

Finance Minister Ahmed Shide appointed Emebet Melese (PhD), who helmed as president of Nib Bank in May this year, to lead the Development Bank of Ethiopia (NBE), effective October 11, 2024. Emebet...

Oct 2 , 2024

Central Bank Grants Forex Bureau Permits to Five Non-Bank Operators

The National Bank of Ethiopia (NBE) has granted licenses to five private non-bank entities to operate in the foreign exchange market, in a groundbreaking move to liberalise a tightly regulated forex r...

Aug 7 , 2024

Central Bank Sets Winning Forex Rate at 107.9 Br for a Dollar

The National Bank of Ethiopia (NBE) concluded its special foreign exchange (FX) auction today with a weighted average rate of 107.9 Br for Dollar, recieving bids from 27 banks. In a statement he is...


Most read

Columns

Commentaries | Dec 22,2024

Fossil Fuels Arent Going Anywhere Despite Great Energy Transition Myth

Life Matters | Dec 21,2024

Inadequate Regulation Leaves Tenants Vulnerable to Arbitrary Rental Hikes

My Opinion | Dec 21,2024

Universal Human Rights Should Prevail Over Sovereignty's Fragile Facade

Sunday with Eden | Dec 21,2024

Overcoming Emotional Impulses in Decision-Making

Agenda | Dec 22,2024

Fuel Supply Halts as Parallel Market, EV Push Leave Regions, Investors in the Lurch

Editorial | Dec 21,2024

Addis Abeba's Gleaming Facade Masks a Parched Metropolis


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Addis Abeba's Gleaming Facade Masks a Parched Metropolis

The main avenues and thoroughfares of Addis Abeba have undergone an impressive facelift th...

Editorial | Dec 21 , 2024

E-bikes' Flat Tyre Seeks Authorities' Goodwill

For Netey Tesfaye, an electric bike offered a chance at a decent living, delivering goods...

Featured | Dec 15 , 2024 . By KALKIDAN NEGASH

Fuel Supply Halts as Parallel Market, EV Push Leave Regions, Investors in the Lurch

Africa Oil Plc has five of its stations denied fuel supply by the Ethiopian Petroleum Supp...

Agenda | Dec 22 , 2024 . By AKSAH ITALO

Banks Scramble to Reopen After Harer City Shuts Over Forty Branches

The Harer city administration has shut down 43 bank branches, including those of Commercia...

Fortune News | Dec 22 , 2024 . By AKSAH ITALO