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



Electric Grid Renovation Underway in Tigray


Electric Grid Renovation Underway in Tigray

The electric distribution grid in war-devasted Tigray Regional State is receiving a 1.7 billion Br renovation by the Ethiopian Electric Utility. Slated for completion after six months, the project aims to rebuild distribution lines in six zones and 33 Woredas on a grid stretching above 1,000 KM. Around 38 sites and 27 distribution centres which had sustained significant damage because of the two-year conflict between Federal and Regional forces, will also be renovated. Frequent power disruptions and sustained blackouts in several parts of the regional state have become common occurrences as significant damage to electric distribution infrastructure occurred during the conflict. Access to electricity in Ethiopia remains a challenge to around half of the population. The country is endowed with significant renewable energy resources capable of generating above 60,000 megawatts of power. The percentage of the population with access to electricity falls to 27pc in rural regions fueled by the high cost of constructing distribution lines even with sufficient power generation.

[ssba-buttons]

Radar

Customs Authorities Intercept Major Alleged Contraband Shipment Worth 422 Million Br

The Customs Commission seized alleged contraband goods worth more than 422 million Br during inspections conducted between June 25 and June 30, 2026. The haul included clothing, electronics, ammunition, construction materials, coffee, vehicle spare parts, cosmetics, khat, narcotics, minerals, livestock and foreign currency. The Addis Abeba Airport, Moyale and Awash customs branches recorded the largest seizures, valued at 115 million Br, 93 million Br and 61 million Br, respectively. Authorit...


Radar

Hijira Bank Posts Record Growth as Assets Reach 31.45 Billion Br

Hijira Bank posted 3.55 billion Br in income in 2025/26, exceeding its combined earnings over the previous four years, while gross profit reached 1.9 billion Br. Assets rose 115pc to 31.45 billion Br, deposits doubled to 24 billion Br, and capital increased 202pc to 7.45 billion Br. Digital transaction value surged 86pc to 41.72 billion Br, foreign currency earnings reached 158 million dollars, and total banking transactions hit 615.39 billion Br. The bank also disbursed 1.5 billion Br in col...


Radar

Gadaa Bank Offers One Million Shares to Public Investors

Gadaa Bank has offered one million shares to the public at 1,050 Br per share following approval from the Ethiopian Securities Exchange (ESX) on June 22, 2026. The share sale keeks to expand the bank's capital base and strengthen shareholder value. The offering will run until September 17, 2026, and is open to existing shareholders and new investors who meet ESX requirements. It is open to existing shareholders and new investors who meet ESX requirements...