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




Capital Gears Up for AU Summit

Feb 4 , 2023


[ssba-buttons]

African Union Summit will unfold in the capital from February 15-19, 2023. Three sessions of the AU Assembly and Executive Council are scheduled to endorse policies through a round of discussion for five days. Dubbed "Acceleration of AfCFTA Implementation", the session will begin with Permanent Representatives' committee meetings and continues to the Executive Council Ministry of Foreign Affairs. The intra-African trade agreement was established in 2018 with the goal of deepening trade ties between African countries by removing tariff and non-tariff barriers. Under the AfCFTA, Africa's expanded goods and labour markets will become more efficient, driving significant competition between the countries, according to a study conducted by the IMF. The National Committee, established to oversee preparations, discussed with representatives of the hotel and tourism sectors.  In the discussion, Birtukan Ayano, state minister for Foreign Affairs said the tourism industry players are essential to make Ethiopia a top conference tourism destination by offering excellent services to AU summit participants. The Minister of State for Tourism, Selamawit Dawit, said the upcoming conference is an opportunity to showcase the country's potential in the field of conference tourism, stating that the Ministry has prepared tour programs for the guests.


Radar

Midroc Picks Austrian Firm for Metekel Plant Machinery

Midroc Gold Mining has contracted Austria-based CEMTEC (Cement & Mining Technology GmbH) to supply and install equipment for a new gold processing plant in Metekel Zone, Benishangul-Gumuz Regional State. Designed to process up to 1.25 million tn of gold-bearing ore a year, the facility is part of Midroc's expansion in the area. Under the agreement, CEMTEC will manufacture the plant's key processing machinery and install it at the Midroc Metekel Gold Plant. The equipment is scheduled for c...


Radar

Food Prices Push Inflation to 15.3pc

Ethiopia's inflation rate rose to 15.3pc in July 2026 from 13.7pc in the same month last year, reaching its highest level in the 13-month period covered by Ethiopian Statistics Service data. Food and non-alcoholic beverages exerted the greatest pressure on consumer prices, with inflation reaching 15.7pc. The increase was driven largely by higher prices for vegetables, meat, dairy products and eggs, fruit, oil and butter, sugar, honey and chocolate, bread and injera. Sugar, honey and chocol...


Radar

State Enterprises Post Revenue Gains in EIH Review

Ethiopian Investment Holdings (EIH) concluded the fourth day of its 2025/26 EFY Annual Performance Dialogue at its headquarters, reviewing key state-owned enterprises overseen by Deputy CEO Habtamu Hailemichael. The dialogue began on August 24, 2026, with the Development Bank of Ethiopia recording a 60pc increase in operating income to 15.9 billion Br. Despite structural and operational difficulties, Ethiopian Mineral Corporation reported year-on-year revenue growth of 48pc to 5.7 billion dol...