FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo


Dec 1 , 2024

FRANCE'S SOFT POWER MAKEOVER

France and Ethiopia have reinforced their bilateral relationship with a landmark agreement signed on Saturday, November 30, 2024, increasing access to education and preserving cultural heritage. During his official visit last week, France's Minister for Europe & Foreign Affairs, Jean-Noël Barrot, m...

Dec 1 , 2024 . By BEZAWIT HULUAGER

Addis Abeba Tightens Fire Safety Rules Fighting Rising Blazes

Addis Abeba is taking a hard look at its fire safety protocols as the city's Fire & Disaster Risk Management Commission introduces a directive to reduce fire incidents by over 70pc, a move that has businesses scrambling to comply with costly new standards. The new regulations, which apply to new and existing buildings across various sectors, mandate strict compliance with specific fire safety measures. Industries affected include printing companies, petroleum-related businesses, hospitals, schools, warehouses, theatres, and telecommunications facilities. City officials are pushing this init...


Dec 1 , 2024 . By BEZAWIT HULUAGER

Investment Holdings Revamps CBE's Boardroom

Brook Taye (PhD), CEO of Ethiopian Investment Holdings (EIH), Ethiopia's sovereign wealth fund, has appointed three individuals to the board of the state-owned Commercial Bank of Ethiopia (CBE), following his board's approval. Henok Teferra, managing director of Boeing Africa; Mahlet Kassa, a partner at Lidet Abebe Tizazu Law Office, which partners with Italy's BonelliErede; and Henok Assefa, founding manager of Precise Consult and co-founder of the Addis Abeba Angels Network, have been appointed to CBE's board, which is public officials have heavily influenced. They have replaced Ahmed Tusa...


Dec 1 , 2024 . By AKSAH ITALO

Parliament to Phase Out Urban Freehold Tenure

A bill proposing sweeping reforms to the urban land lease system was tabled in Parliament last month, introducing major changes to land tenure and administration. The legislation, prepared by the Ministry of Urban & Infrastructure (MUI), aspires to phase out freehold tenure in favour of a leasehold system within five years. A review of lease rates is required every three years and 20pc of urban land is allocated for housing projects. The reform also aspires to regulate urban farmlands by recognising agricultural zones within cities, ensuring their orderly integration into urban planning. It a...

Fortune News

Weathering Sustainability Auditing Storm

Accounting & Auditing Board of Ethiopia (AABE) is urging accountants and auditors to adopt international standards on climate risk and sustainability disclosures. The call comes as global investor...

Dec 1 , 2024

Djibouti Bets Big on Ethiopia's Recovery Despite Regional Strains

Djibouti remains cautiously optimistic in its relations with Ethiopia, its largest neighbour, offering an anchor for economic recovery and growth in the Horn of Africa. Its leaders aspire for integrat...

Dec 1 , 2024

Millions Confront Deadly Hunger as Conflicts, Climate Pressures Intensify

Ethiopia is confronting a severe food insecurity crisis, with 15.8 million of its citizens facing acute hunger, according to a joint report by the United Nations Food & Agriculture Organisation (F...

Nov 24 , 2024

TAXING TIMES AT MERCATO

Business owners in Mercato were reeling from a crackdown on tax compliance that has disrupted the heart of the capital's commerce. Tax authorities have intensified efforts to enforce receipt issuance...

Nov 24 , 2024

In Civil Service Overhaul, Pay Raises Spark Hope, Inflation Fuels Doubt

The federal government is to establish a Merit & Wage Board, chaired by the Prime Minister, to oversee wage adjustments for the country's 2.4 million civil servants. The seven-member board include...

Nov 24 , 2024

Lingering EV Charging Station Regulations Stifle Investors

Months after the Institute of Ethiopian Standards introduced benchmarks for electric vehicle (EV) battery lifespan and capacity, the absence of accompanying standards for charging stations has stalled...

Nov 24 , 2024

Arada District Land Auction Sees Dwindling Interest

The third day of land auctions in Addis Abeba saw one of the lowest participation rates, with many sites failing to attract sufficient interest despite it coming after a two-week postponement. Held...

Nov 24 , 2024

Agri Ministry Targets Animal Disease Control, Traceability, Global Standards

Ministry of Agriculture is poised to transform the livestock sector with a bill that introduces a national veterinary laboratory network and a traceability system. The Animal Health & Welfare Act...

Nov 24 , 2024

Sidama Region Fuel Shortage Fuels Parallel Market Surge, Testing Officials' Resolve

Sidama Regional State is gripped by a severe fuel shortage, forcing regional officials to confront a thriving parallel market and deep-seated issues within the petroleum supply chain. Despite state in...

Nov 16 , 2024

MALARIA SURGE, HEALTH SYSTEMS BUCKLE

Malaria, a persistent threat in rural areas, is resurging with alarming intensity in 2024, exposing deep-rooted systemic issues aggravated by climate change and inadequate health infrastructure. In th...

Nov 16 , 2024

Land Auction Sets High as Speculation Fuels Property Boom

A bidder stunned land auction participants by offering a record-breaking offer for a plot in the Nifas Silk Lafto District. Her bid, about 744pc higher than the next highest offer, could come with an...

Nov 16 , 2024

Central Bank Seeks Greater Autonomy

The establishment of a monetary policy committee within the National Bank of Ethiopia (NBE) was added to the proposed re-establishment of the regulator. The committee will consist of seven members, in...

Nov 16 , 2024

Capital Market Vision Takes Shape with Securities Exchange on the Horizon

A three-day summit last week set the stage to launch the long-awaited Ethiopian Securities Exchange (ESX), bringing together high-profile figures from the financial and policy spheres. Governor Mamo M...

Nov 17 , 2024

Commercial Banks Commit to Sustainability Guidelines

A new set of guidelines to help commercial banks integrate environmental, social, and governance (ESG) considerations into their business planning, risk management, and lending practices was official...

Nov 9 , 2024

BLACKOUTS SURGE - FRUSTRATIONS MOUNT

Frequent power outages disrupt daily life and hinder economic activities across the country and Addis Abeba, as residents and businesses struggle with an unreliable electricity supply. The persistent...

Nov 10 , 2024

Leather Institute Skins Quality Troubles with Traceability

A pilot program to establish traceability for hides and skins throughout the leather value chain has been introduced by the Africa Leather & Leather Products Institute (ALLPI). Its proponents say...


Most read

Columns

Commentaries | Nov 30,2024

Empty Promises, Soaring Emissions, and Climate Summits' Farce

Life Matters | Nov 30,2024

Walking on Eggshells in a Social Web

My Opinion | Nov 30,2024

Carbon Farming Won't Save the Planet

Sunday with Eden | Nov 30,2024

Choosing to Lift Up in a Judgmental World

Agenda | Dec 01,2024

Government Reforms Battle Market Forces on Cement Industry Control

Editorial | Nov 30,2024

Crafting Public Service Reward in a Cash-Strapped Economy


         ADVERTISEMENT

Read More

Crafting Public Service Reward in a Cash-Strapped Economy

In the corridors of government offices worldwide, the question of how much to pay members...

Editorial | Nov 30 , 2024

Independent Forex Bureaus Offer Valued Choice

Waktole Abdulahi, a long-time resident of Norway, was relieved when he was able to secure...

Featured | Nov 16 , 2024 . By KALKIDAN NEGASH

Government Reforms Battle Market Forces on Cement Industry Control

On the outskirts of Addis Abeba lies the subdued Qaliti cement market with retailers like...

Agenda | Dec 1 , 2024 . By AKSAH ITALO

FRANCE'S SOFT POWER MAKEOVER

France and Ethiopia have reinforced their bilateral relationship with a landmark agreement...

Fortune News | Dec 1 , 2024

Back
WhatsApp
Telegram
Email