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 Engineer Muse in Innovative Continental Contest


Ethiopian Engineer Muse in Innovative Continental Contest

An Ethiopian mechanical engineer has been shortlisted for a prestigious award: the 2023 Africa Prize for Engineering Innovation (APEI) Established in 2014, APEI is Africa’s biggest prize dedicated to developing African innovators and enhancing their impact through business incubation, mentoring, fundraising, and communications. Fikru Gebre has been nominated for developing the multi-purpose earth brick machine in response to the tough maintenance and repairs required for building homes. The manually operated portable construction machine interlocks compressed standard shape and size bricks. According to Fikru, this will improve the lack of access to advanced materials and the increased time spent maintaining homes built from 95pc soil and the remaining cement. The machine requires little maintenance and is easy to transport.  “It is cost-effective and environmentally friendly,” Fikru said. He studied engineering at universities in Bahir Dar and Meqelle, before moving to Jimma University in 2009, where he has been lecturing and researching. Fikru is among the 16 contenders from East and West Africa, with the prospect of winning 25,000 euros; the award will be held in London. Other contenders for the prize include Nigerians, Ghanaians and South Africans. The innovations are expected to provide engineering solutions to healthcare, agriculture, education, food security, and energy sectors crucial to UN Sustainable Development Goals, according to a release from the Royal Academy of Engineering, headquartered in London.

[ssba-buttons]

Radar

Prime Capital Joins ESX, Seeks Securities Dealership Licence

Prime Capital has secured trading membership on the Ethiopian Securities Exchange (ESX) and is pursuing a securities dealership licence to expand its brokerage and investment banking services, according to Head of Business Development and Marketing Fikremarkos. The firm received its trading membership after obtaining an investment banking licence from the Ethiopian Capital Market Authority (ECMA) and meeting all ESX requirements. The licence authorises Prime Capital to execute securities tran...


Radar

Parliament Ratifies Tax Amendment, Assigns PMO to Lead Conciliation, Imposes 10pc Penalty on Late Evidence

The Prime Minister's Office will appoint independent tax conciliators while taxpayers face a 10pc penalty for late evidence under the Federal Tax Administration Amendment ratified by Parliament last week. By shifting the selection of “conciliators” from the tax authority to the PMO, authorities aim to establish a neutral dispute-resolution system to speed up out-of-court settlements. Experts describe the move as a high-stakes reform with notable institutional risks. The legislation, pa...


Radar

ZamZam Bank Registers Shares, Eyes Capital Market Debut

ZamZam Bank has secured approval from the Ethiopian Capital Market Authority (ECMA) to register its shares, becoming the first fully interest-free bank to complete the regulatory process for public trading. The approval covers five million existing shares worth five billion Br and one million bonus shares valued at one billion Br, paving the way for the Bank's future participation in Ethiopia's capital market. ZamZam plans to raise its capital to 15 billion Br and introduce Sharia-compliant i...