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Nov 26 , 2022

Truculent Foreign Banks, Fragile Industry, Bullish Central Bank

The entry by foreign-owned banks and non-nationals into the financial sector has reached a point of inevitability. However, how to navigate through the web of opportunities they are hoped to bring and the risks they pose concerns many. The authorities have their blueprint; if not caution, the indust...

Nov 27 , 2022 . By DANIEL METAFERIA

Repay Homebuyers: Judge Orders Access, Pacific Link Real Estates

Hundreds of homebuyers signed up for deals with Access Real Estate to buy properties under Pacific Link Ethiopia Real Estate should be paid compensation for homes undelivered, a Judge at the Federal High Court ruled. Disgruntled homebuyers filed civil suits against the developers, claiming reimbursements of the money paid along with interests and punitive damages. Some buyers paid the full prices of the houses sold by Access Real Estate and Pacific Link, the latter 40pc owned by Access. Judge Yihenew Kelil ordered that close to 170 of these buyers be reimbursed for the advance payments,...


Nov 27 , 2022 . By DANIEL METAFERIA

With Improved Seeds Local Farmers Offer Promise to Cover Imported Barley

Assela town, 126Km south of Addis Abeba in the Oromia Regional State, may have a reputation for nurturing world track-star athletes. It is also a prominent barley producer region, with the quality highly sought by the brewery industry. Of the one million hectares of barley harvested, 20pc is used for malt production; the vast plain land in the Assela area generates much of this. "It's such a blessed land," said Jean-Benoit VIVIT, head of Soufflet, a french company that opened a malt factory in Ethiopia in 2017. Vivit is proud of the wonders seeds supplied by his company have done and...


Nov 19 , 2022

TRAMADOL NARCOTICS CLOUDING A GENERATION

he scourage is eating away the vitality of the youth in schools across Addis Abeba. The widespread misuse of a drug with narcotic substances reached a level alarming health officials, pharmacists and school administrators. Parents may not have been as aware of the addicion their children fall into from the regular dose of Tramadol, mainly under the pressure of peers. Health officials estimate eight in 100 students in secondary schools may have already been addicted...

Fortune News

City Finance Bureau Blocks 28b Br Mega Project

The Addis Abeba Finance Bureau blocked a multi-billion Birr budget the city administration approved after requests to pay bid winners in foreign currency gets rejected. Under Debo Tunka, the Addis...

Nov 27 , 2022

Dashen Stands Tall Amid Industry Peers

Dashen Bank continued to tower as the industry's top performer judging by its latest financial reports released two weeks ago, despite losses from forex dealing remaining stubborn. Addressing share...

Nov 27 , 2022

Canadian Firm Completes Feasibility Studies on Railway to Port Sudan

A railway line from Addis Abeba to a Sudanese port is afoot under the two governments after a Canadian consulting firm completed a feasibility study. Pacific Consulting Services, which won the bid...

Nov 27 , 2022

Digital Driving License Becomes Trans-National IDs

Drivers residing in Addis Abeba will be issued digital licences in the coming year, also serving as transboundary identification cards with microchips storing data on driving history. An overhaul o...

Nov 19 , 2022

Bahir Dar Property, Lease Payers Sit on a Deadline Leash

Property owners in Bahir Dar city, the seat of the Amhara Regional State Administration, are running out of time to settle arrears in land lease payments. The city's Administration issued notice th...

Social Health Insurance to See Light of Day, Belatedly

Members of the public service and employees hired by private companies will benefit from Social Health Insurance (SHI) in the coming year, a decade after a law was passed. It has not been enforced unt...

Nov 19 , 2022

East Africa CEOs Not as Alarmed as Global Peers about Recession

Chief executive officers of companies operating in East African countries are less worried over an impact of global recession compared to their international peers, while they are more confident about...

Nov 19 , 2022

City Cabinet Contemplates Offering Hapless Developers Break

Thousands of developers in Addis Abeba foresee extensions on project completion time by the Addis Ababa City Cabinet, which has been dealing with the issue for two years. The plots have been leased...

Nov 12 , 2022

Berhan Bank Recovers from the Dearth, Despite Halfway Industry Average

With excitement, Berhan Bank shareholders left a meeting two weeks ago, learning their earnings per share had more than doubled from last year. However, the Bank's overall performance is not only half...

Nov 12 , 2022

City Authority Hires Lebanese Firm to Revise Road Design Manual

A Lebanon-based consulting company, Dar Al-Handasah, has been hired by the Addis Abeba City Administration to revise the road design manual in effect for over a decade. The manual design project is...

Nov 12 , 2022

Addis-Adama Expressway Drivers Face Fee Rise at Tool Gates

Drivers on the Addis Abeba-Adama expressway will see fees go up entering toll gates. A survey conducted three months ago on road maintenance costs led Ethiopian Toll Roads Enterprise (ETRE) executi...

Nov 12 , 2022

Immigration Agency Grants Foreign Investors Five-Year Visa

Foreign nationals entering the country to invest will be issued multiple-entry visas valid for up to five years. It is a marked improvement from a short-stay permit they were given for three months. ...

Nov 12 , 2022

CBE Faces Dilemma on Interest-free Banking Pathway

Directors and senior managers of the state-owned Commercial Bank of Ethiopia (CBE) mull over the dilemma of forming a subsidiary bank for Sharia banking, people knowledgeable of the bank's transformat...

Nov 5 , 2022

City to Make Plots Available Through Lease

The Addis Abeba city administration will resume its land lease regime, making 100 plots available to the market through the auction process, disclosed the Mayor, Adanech Abiebie. It has been over two...

Nov 5 , 2022

Oromia Taxes Coffee Exporters

Coffee exporters collecting their beans from farms in the Oromia Regional State are subjected to a new tax imposed by municipalities and weredas in the region. Experts from the Oromia Revenues Bure...

Trade Ministry Reclaims Cement Supply Approval Mandate

The mandate to approve cement supplies to public construction projects moved last week to the Ministry of Trade & Regional Integration (MoTRI). Registrations to buy cement and approvals for sal...


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To Liberalize Finance Holy, Regulating It Is Divine


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To Liberalize Finance Holy, Regulating It Is Divine

In the wake of the liberalization of the telecom sector, Ethiopian authorities have made a...

Editorial | Nov 26 , 2022

UNCLOTTING CITY ONE STROKE AT A TIME

A tarmac road on the hill from the CMC roundabout to the Wossen roundabout displays a gia...

Featured | Nov 12 , 2022 . By TIZITA SHEWAFERAW and Molla Mitiku,

Truculent Foreign Banks, Fragile Industry, Bullish Central Bank

Zemedeneh Negatu, an investment consultant, had his team approached by boards of directors...

Agenda | Nov 27 , 2022 . By AKSAH ITALO

Truculent Foreign Banks, Fragile Industry, Bullish Central Bank

The entry by foreign-owned banks and non-nationals into the financial sector has reached a...

Fortune News | Nov 26 , 2022