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




Diaspora Trust Fund Receives Tax-Exempt Status

Aug 31 , 2019


[ssba-buttons]

The Ethiopian Diaspora Trust Fund (EDTF) has received tax-exempt status from Internal Revenue Service as a non-profit charity organisation, effective September 27, 2018. EDTF can apply for government, foundation and other grants, which will further broaden its access to resources and strengthen its ability to help address critical needs in Ethiopia. EDTF officially began collecting donations on October 22, 2018. Chaired by Alemayehu G. Mariam (PhD), professor of political science at California State University and an attorney, the council has 15 members composed of scholars, business executives, human right activists and heads of international organisations. So far, EDTF has collected 4.7 million dollars in donations from 77 donor’s countries, adding that the United Nations Development Program (UNDP) has given EDTF a two-year grant to fund the cost of its secretariat in Addis Abeba. In June 2018, Prime Minister Abiy Ahmed (PhD) called on the diaspora community to contribute one dollar a day to fund social and developmental projects.


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 the utility 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 s...


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Securities Exchange (ESX) said on August 7, 2026, that its founding Chief Executive Officer, Tilahun Esmael (PhD), had been replaced by the Chief Operating Officer, Yodit Kassa.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...