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Fortune News

May 8 , 2021

Central Bank Disappoints Hospitality Industry Gasping for Air

Appeals by hotel owners and tour operators for the extension of repayments of loans taken from commercial banks to assuage the severe impact of the COVID-19 pandemic has been rejected by the central b...

May 8 , 2021

TROUBLED HIBER SUGAR DIRECTORS PROPOSE INVESTMENT SWITCH

The embattled Hiber Sugar Share Company eyes new investment opportunities in the agriculture sector, proposing to get involved in rice and avocado oil production following its inability to produce sug...

May 8 , 2021

Int'l Firms Bid to Consult Sugar Factory Privatisation

Two international consultants are vying to be hired as a transaction advisor for the privatisation of state-owned sugar factories. Out of six interested consultants who bought the bid document after a...

May 8 , 2021

Traders Blame Taxation, Instability for Surging Beef Prices

The market price of beef has gone up by as much as 150 Br a kilo in the past week due to a combination of factors including a shortage of oxen, issues with taxation, rising costs for fodder, and trans...

May 8 , 2021

Factories, Importers Hit by Forex Retention Rules Call for Preferential Treatment

Factories located in industrial parks and importers are petitioning the government for exemption from the forex retention directive recently issued by the National Bank of Ethiopia (NBE). The factorie...

May 8 , 2021

Soar in Aviation Premium, Inflation Help State Insurer Gain Lost Ground

A surge in aviation insurance rates and property values have enabled the state-owned Ethiopian Insurance Corporation (EIC) to control more than half of the insurance market share, helping it regain th...

May 8 , 2021

Oromia Coop Bank Seeks Artificial Intelligence to Keep Customers Chatting

A private bank takes the lead to launch artificial intelligence (AI) tools, in league with a newly formed federal agency, the Artificial Intelligence Centre (AIC). The Cooperative Bank of Oromia (C...

Apr 30 , 2021

THE SO-SO EASTER MARKET

As the fasting season came to an end over the past week, followers of the Christian faith prepared to celebrate Easter and surreptitiously approached markets. Popular destinations such as Shola Gebeya...

Apr 30 , 2021

Limits on Mobile Money, Tower Market Push Bidders to Opt-out of Telecom Bid

Telecom developers opted out of the race for the two operational licenses in Ethiopia as the government remains firm in its position to close the mobile banking and telecom tower markets to foreign co...

Court Grants Bail to Mulugeta Tesfakiros

The Federal High Court fifth division corruption bench has granted bail for the amount of 80,000 Br to Mulugeta Tesfakiros, a businessman behind several companies under Muller Industries, including Mu...

Apr 30 , 2021

Awash Strikes Deal with Growing Money Platform to Reach Unbanked Population

The fastest-growing mobile money provider in the Somali Region, Rays Microfinance, the creator of Sahay, has partnered with Awash Bank to expand its operations in Addis Abeba and pastoralist areas of...

Apr 30 , 2021

New Oxygen Plants Arrive to Alleviate the Spike in Demand

The opening of two oxygen plants has brought some relief to the severe shortage of medical oxygen currently plaguing hospitals and medical centres, particularly in light of the Novel Coronavirus (COVI...

Apr 30 , 2021

Coffee Processor Looks to Boost Value-Added Exports

Hebron Ethiopia Trading Plc, a company operating in Yirgalem Agro-Industrial Park, is gearing up to begin the production of coffee capsules used for brewing espressos with an investment capital of 80...

Apr 30 , 2021

Local Investors Open Camel Milk Processing Plant

A processing plant for camel milk is bracing to start production soon, after an investment of 70 million Br, almost half it obtained as a loan from the state-owned Development Bank of Ethiopia (DBE)....

Apr 30 , 2021

Second Interest Free Bank Acquires 130m Br Headquarters

Ethiopia's second interest-free bank has debuted service in a building it acquired for 130 million Br, located in the Olympia neighbourhood. Hijra Bank is the first-ever financial institution to bu...

May 1 , 2021

Ethiopia's Economy Back to Pre-COVID Level: WB

Ethiopia's economy recovers from the impacts of COVID-19 despite a fall in foreign direct investment and a slight decline in export proceeds, reads the latest economic update from the World Bank (WB)...

Columns

Commentaries | Aug 29,2026

The Education Minister Celebrates the Wrong Numbers

Every year, the Ministry of Education (MoE) sets a national examination. Every year, it fa...

Editorial | Aug 28 , 2026

SMALL-NOTES SQUEEZE WORN, TORN, NEVER RETURNED

For Hirut Ayalew, a small shop owner around Ferensay Legasiyon, the shortage of usable sma...

Featured | Aug 1 , 2026 . By BIZUAYEHU ABIY

Between Tax Authorities, Dealers, Buyers Who Cannot Keep Up

For Tefera Worku, buying a car was meant to be a simple calculation of convenience. The co...

Agenda | Aug 29 , 2026 . By FITSUM TADESSE

Fed Now Repays Its Bills with More Bills

The federal government is increasingly relying on Treasury bills (T-bills) to repay Treasu...

Fortune News | Aug 29 , 2026 . By BEZAWIT HULUAGER