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

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...