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




Ethiopian Aviation Guru Becomes Secretary General of AFCAC

Dec 10 , 2018


[ssba-buttons]

Aviation guru Tefera Mekonnen has been elected as the Secretary General of the African Civil Aviation Commission (AFCAC). Four candidates were shortlisted for the position for the post. Tefera comes to the helm replacing Iyabo Sosina, a Nigerian, who had been leading the commission since 2012. Before assuming his current post, he has served as the Vice President of AFCAC as well as with the Air Transport Regulatory Board of the Common Market for Eastern & Southern Africa (COMESA). Tefera also directed the national Aviation Security programme, the separation of operational and oversight functions of aviation security and the establishment of an independent airport enterprise, when he was the general director of Ethiopian Civil Aviation Authority. “Tefera’s appointment would be an excellent opportunity for Ethiopia in advancing Africa’s interests in the sector,” said Workneh Gebeyehu (PhD), the foreign minister. AFCAC was fully established in 1964 and began functioning after five years.


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...