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




City Hires Three Firms For Six Major Projects

Jul 20 , 2019


[ssba-buttons]

Addis Abeba City Administration signed agreements with three international firms for the construction of six projects with a total cost of 10.7 billion Br. Construction of Adwa Centre, renovation of Addis Abeba Municipality Theater Hall, Grand Palace parking lots, a library, Pushkin Square-Gotera interchange road and Bole Medhanialm to British Embassy road are some of the projects covered under these agreements. The firms that signed the agreement include China Jiangsu International Economic & Technical Limited, ALEC Engineering and Geom Luigi Varnero Plc. The Construction of Adwa Centre, which will be built at the centre of Piassa adjacent to Menelik II Square, will be carried out by Jiangsu International Economic & Technical Cooperation Group at the cost of 4.6 billion Br. The construction includes meeting halls, recreational and fitness centres. The 3.8Km Pushkin Square-Gotera interchange road, which has a width of 30m-45m and a 320m tunnel on each side, is another project that will be built for 1.5 billion Br. Varnero, an Italian construction firm, has also signed an agreement to construct a three-storey library in Arat Kilo valued at 1.1 billion Br.


Radar

Tariff Reform Powers EEP Revenue to 119 Billion Br

Ethiopian Electric Power (EEP) collected 119 billion Br in revenue during the 2025-2026 fiscal year, up 57.8pc from the previous year, while recording a gross profit of 39.5 billion Br. The performance comes as EEP faces public scrutiny over a multi-year electricity tariff reform. EEP achieved 92pc of its 129.8 billion Br revenue target. It attributed the performance to improved revenue collection systems and better coordination, following a period in which the utility operated at a significa...


Radar

ESX Names Yodit Kassa CEO in Leadership Handover

The Ethiopian Securities Exchange (ESX) said on August 7, 2026, that its founding Chief Executive Officer, Tilahun Esmael (PhD), had been replaced by the Chief Operating Officer, Yodit Kassa. ESX credited Tilahun with steering the Exchange from its early project phase into a fully operational securities market. He established its governance, technological and operational foundations while building relationships with regulators, investors and other stakeholders. Yodit and Tilahun have been...


Radar

Enat Bank Enlists Partners to Develop Gender Bond

Enat Bank has entered a four-party partnership to develop what the partners describe as Ethiopia's first private-sector gender bond. The bank signed a memorandum of understanding with FSD Ethiopia, I-Capital Africa Institute and FSD Africa to structure and launch the bond. The partners will collaborate throughout the pre-issuance and post-issuance phases. Their work will cover transaction structuring, framework development, regulatory compliance, investor engagement and post-issuance manageme...