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




Entrepreneurial Competition Heats Up

Apr 15 , 2023


[ssba-buttons]

A business competition dubbed African Business Heroes (ABH) which offers up to 1.5 million dollars has a month left for registration as the 2023 round comes live. Prospective applicants met with Ethiopia Gebeya, the official partner of the competition, at an event held at the Urban Centre last week, to discuss on the modalities of the competition. Funded by the Chinese business tycoon Jack Ma, the competition has been rewarding businesses across the continent since 2019. One of the runners-up to last year's competition and CEO of Gebeya, Ahmedou Daffe indicated to the audience how they can improve their chances of winning the competition. He emphasized the need for a clear vision and the importance of aspiring to large-scale change. While the winner gets 300,000 dollars all who make it to the top 10 will receive financial assistance along with continued consultation. Last year's winner was Elia Timotheo who was the founder of agri-tech startup East Africa Fruits Co. The rigorous application process requires time hence prospective competitors were advised to get to it before the deadline.


Radar

Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


Radar

Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


Radar

Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...