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Jan 19 , 2025

THREADBARE TRADITIONS, WEAVING UNRAVELS FAST

The looming scarcity of essential imported materials has overshadowed traditional weaving in Addis Abeba. Weavers recall a time when Timqet festivities meant a flurry of orders in the northern outskirts of Shero Meda. They once earned at least 2,000 Br a day, but now struggle to pull in half of that...

Jan 19 , 2025 . By AKSAH ITALO

Hailu Shawel's Family Embroils in Billion-Birr Property Dispute

The family of the late Hailu Shawel, a civil engineer and a prominent opposition leader, is embroiled in a high-stakes lawsuit over assets allegedly worth billions of Birr. His widow and several children have pitted against his eldest son, Samson, over a complex web of inheritance claims, share transfers, and allegations of mismanagement. Samson demands tens of millions of Birr in reimbursement, the reassignment of shares, and a formal audit of the family's estate. Claiming a five percent share in Samson Sports Plc, known for its ownership of Laphto Mall, Samson has taken the extraordina...


Jan 19 , 2025 . By AKSAH ITALO

Edible Oil Industry on the Brink as Factories Shut Down, Succumb to Foreign Competition

The edible oil industry is on the brink of collapse, with the number of fully operating factories plummeting from 60 three years ago to just four. Over 20 manufacturers have permanently closed, while many others produce only sporadically. Rising raw material costs and economic instability have left manufacturers struggling. Industry players are calling for urgent policy reforms, including imposing customs duties on imported oils and exempting raw materials from VAT. The Ethiopian Edible Oil Producers & Manufacturers Association (EOPMA) recently appealed to Finance Minister Ahmed Shid...


Jan 19 , 2025 . By AKSAH ITALO

Finance Shortfalls Entangle Pharma Supplies, Distributions

Pharmaceutical manufacturers have underperformed, failing to deliver 4.1 billion Br worth of medicines to the Ethiopian Pharmaceutical Supply Service (EPSS) over the past two years, according to a recent assessment. The Service's performance rate for 2023/24 stands at just 51pc, leaving essential medicines like amoxicillin and paracetamol in short supply. At a recent meeting to address the crisis, Solomon Nigussie, EPSS deputy head, criticised manufacturers for delivering less than half of the 100 types required. He said that the sector is characterised by issues such as missed delivery sch...

Fortune News

Jan 19 , 2025

New Law Regulates Organ Donation, Restricts Gifting

A recently passed Health Service Administration & Regulation Proclamation legalises the donation and transplantation of organs and tissues, consolidating health service regulations under a single...

Jan 12 , 2025

Wegagen Bank Casts First Stone in Securities Exchange Pond

Wegagen Bank, lined up to become the first company to list on the newly launched Ethiopian Securities Exchange (ESX), has cleared a key milestone in its quest to go public. On January 10, the Bank reg...

Jan 12 , 2025

Illegal Trade Threatens Export, Tobacco, Pharma Industries

Ethiopia's key industries are battling the contraband trade. Leaders from tobacco, coffee, livestock, and pharmaceutical sectors have called for urgent government intervention to combat the threat. ...

Jan 12 , 2025

Alleged Shareholder Sues Sunpay, Demands Dissolution

An alleged shareholder of Sunpay Solutions S.C., Bruck Fikre, has filed a lawsuit seeking the recovery of his claimed shares, originally valued at 1.3 million Br. The legal action follows a series of...

Jan 12 , 2025

Plastic Ban Fuels Environmental Hope, But Bagging Trouble

Plastic manufacturers are pushing back against a bill banning single-use plastic bags, warning it could upend their industry, eliminate billions of Birr in revenues, and force more than a million...

Jan 12 , 2025

Federal Judge Suspends Addis Chamber's Assembly as Leadership Dispute Intensifies

An abrupt legal dispute has thrust the Addis Abeba Chamber of Commerce & Sectoral Associations (AACCSA) into the limelight, ending its general assembly two days before it was set to convene. A...

Jan 5 , 2025

Pharma Supplier to Build 100 Million Dollar Automated Warehouse

The Ethiopian Pharmaceutical Supply Service (EPSS) plans to construct a 100 million dollars mega warehouse in a bid to modernise and centralise its pharmaceutical storage and distribution. The project...

Jan 5 , 2025

Ethio telecom Expansion Stalls Over Funding, Land Costs

Ethio telecom's ambitious plan to expand infrastructure and improve rural connectivity is facing major setbacks due to funding shortfall and high land lease costs. The state-owned telecom provider nee...

Jan 5 , 2025

Traffic Management Overhaul Digitises Fines, Parking Fees

City transport authorities have launched a new digital traffic management system that has already registered over 600,000 vehicles. The system is expected to save more than 17 million Br annually by r...

Jan 5 , 2025

Earthquake Displaces Thousands, Threatens Kessem Dam

A series of increasingly powerful earthquakes have struck the Afar, Amhara, and Oromia regions, damaging homes and infrastructure, and forcing authorities to scramble to evacuate residents. The quakes...

Jan 5 , 2025

Banks Overhaul Governance as Regulators Tighten Controls on Boardroom Power

Spurred by a set of directives the National Bank of Ethiopia (NBE) issued lately, commercial banks have embarked on a quiet overhaul of their governance structures. Details of how the rules will be...

Dec 29 , 2024

DREAMS BETRAYED, TRAFFICKED, ENSLAVED

A 25-year-old civil engineer graduate left for Thailand in September 2023, lured by the promise of a high-paying digital marketing job. He had struggled to find stable employment after graduating in ...

Dec 29 , 2024

Consumer Unions Become Collateral Damage in a Battle Against Sugar, Oil Distribution Inconvenience

Consumer unions in Addis Abeba are being sidelined as delivery companies take over the distribution of subsidized sugar and cooking oil. The transition has impacted many consumer unions who previously...

Dec 29 , 2024

Pharma Industry Confronts Customs Over Inflated Valuations

Pharmaceutical manufacturers are in dispute with customs officials over alleged inflated valuation of imported raw materials. The Ethiopian Pharmaceuticals & Medical Supplies Manufacturing Industr...

Jan 3 , 2025

Vehicle Importers Fight Back Authorities Over New Tax System

Over 100 vehicle importers have had their bank accounts frozen by tax authorities, while 41 have filed lawsuits against the Addis Abeba Revenue Bureau (AARB) over a disputed vehicle pricing standard,...

Dec 29 , 2024

Foreign Nationals Face Skyrocketing Fees, Unyielding Regulations

Foreign residents are facing higher immigration fees and tighter regulations that have left many confused and alarmed. The Immigration & Citizenship Service (ICS) recently increased renewal costs...


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Breaking the Chains to Protect the Vulnerable During Painful Reforms


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Breaking the Chains to Protect the Vulnerable During Painful Reforms

Adanech Abebie, the mayor of Addis Abeba, addressed last week a warm-up session for her pa...

Editorial | Jan 18 , 2025

New Roads Stimulate Post-Dusk Energy, Revamp Evening Scenes

Melese Gizaw, a former soldier from the Derg regime, finds himself drawn to cafes since le...

Featured | Jan 19 , 2025 . By YITBAREK GETACHEW

Traditional Weaving Unravels as Chiffon Takes Over, Demands Dwindle, Costs Rise

Asamenew Arba, a weaver operating from a building housing micro enterprises near Shero Med...

Agenda | Jan 19 , 2025 . By BEZAWIT HULUAGER

THREADBARE TRADITIONS, WEAVING UNRAVELS FAST

The looming scarcity of essential imported materials has overshadowed traditional weaving...

Fortune News | Jan 19 , 2025