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




Ethiopia Inaugurates Chinese Funded, Built Park

Sep 11 , 2020


[ssba-buttons]

Ethiopia has inaugurated the Chinese funded and built Sheger Park's Friendship Square on the eve of the New Year. The inauguration was held with the presence of President Sahle-Work Zewde, Prime Minister Abiy Ahmed (PhD), Chinese Ambassador to Ethiopia Tan Jian, and 1,500 invited guests. Marked by a lakeside fountain, an artificial pond, and an active waterfall belt on the Banteyiketu River, the event showcased different parades by the Republican Guard and a marching band. Built for 50 million dollars, the project was handled by First Highway Engineering Group, a subsidiary of the mammoth China Communication Construction Corporation. The project includes the construction of a central square that rests on 32ha of land and rehabilitates 1.2Km of the Banteyiketu River. The inaugurated project is the first phase of the three-year Beautifying Sheger project that aimed at alleviating the capital city's condition to one of urban tourism and also rehabilitating two riverbanks stretching from Entoto to the Aqaqi River. The second phase of the project worth 54.8 million dollars was awarded to Jiangsu Nantong Sanjian Group to be delivered in 14 months. It will construct a science museum, children amusement park, sports centre and wedding space. It will develop 16ha of land and 10.5Km of the riverside rehabilitation.


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...