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Fortune News

Dec 26 , 2020

Ministry Waives 14.5b Br in Taxes, Customs Duties

The Ministry of Finance waived 14.5 billion Br in accumulated tax and customs duties that have been imposed on companies for various imported items. The waiver, which includes penalties and fines, was...

Board Adds Dukem Depot to PPP Projects

The board of the Public-Private Partnership, which is chaired by Minister of Finance Ahmed Shide, approved the construction of the country's largest depot through the joint investment of the governmen...

Dec 26 , 2020

Committee Arises to Assess Damaged Investments

The Office of the Prime Minister has formed a high-level committee that will assess the damage suffered by investments and business entities due to instability in the country. With four institutions a...

Dec 26 , 2020

Enat Bank Bags Modest Profit, Yet EPS Slides

Enat Bank registered 208.6 million Br in profit over the last fiscal year, a modest 3.5pc increase from the previous year. The Bank's profit growth rate has slowed down compared to the preceding year...

Dec 26 , 2020

Commission Delays Long-Awaited Prosecution Mandate

The draft Ethics & Anti-Corruption Commission law tabled to parliamentarians last week has excluded a mandate to prosecute — the addition that initiated the revision. Forwarded to the standing c...

Dec 26 , 2020

Zemen to Launch Mobile Banking Solution

Zemen Bank is set to launch its new mobile banking application, which will enable individuals and corporate customers to transfer payments and check balances, in early February 2021. The mobile ban...

Dec 26 , 2020

Task Force Emerges to Reinvigorate Investments in Tigray

A task force made up of six members from the Ministry of Trade & Industry has been set up to assess the cost of damage to businesses in Tigray Regional State due to the recent conflict. Establishe...

Dec 26 , 2020

Zemen Insurance Debuts with Decent Profit

Zemen Insurance, the latest entry in the insurance business, netted 18.3 million Br in profit during its first year of operations. The profit was mainly generated from investment activities. With a...

Dec 19 , 2020

STRICTLY FEDERAL

Agegnehu Teshager (centre), president of the Amhara Regional State, peeks past his counterpart in Oromia Regional State, Shimelis Abdisa, and Yinager Dessie (PhD), governor of the National Bank of Eth...

Dec 19 , 2020

EU Support for Logistics, Health Suffers Conflict Consequences

Planned projects to develop a logistics corridor to Eritrea and Djibouti are bound to suffer delay, after the European Union (EU) decided to hold up disbursements of financial aid due to concerns in B...

Dec 19 , 2020

Committee Arises to Facilitate Ethio-Djibouti Trade

A new committee composed of members from the Ethiopian and Djiboutian transport authorities has been formed to facilitate freight and shipping logistics between the two countries. The Committee was in...

Dec 19 , 2020

Banks to File Movable Asset-Based Financing Report

The National Bank of Ethiopia (NBE) has required all the commercial banks to submit a quarterly report that shows the amount of loans and advances they approved and disbursed against movable property...

Dec 19 , 2020

Investment Commission Forms Unit to Resolve Dispute

The Ethiopian Investment Commission (EIC) has launched a new complaint system that will be handling grievances from investors in a standardised manner. The grievance management procedure aims at ensur...

Dec 19 , 2020

Hibret Bank Augments Profit, Capital

Hibret Bank, which changed its name last year from United, performed well during the past fiscal year, registering 893.9 million Br in net profit, an 18.8pc growth from the previous year. Yet its earn...

Dec 19 , 2020

Jimma, Guji to Receive Export Coffee Preparation Facilities

An export coffee preparation facility is being set up in Jimma and West Guji Zone in Oromia Regional State. Constructed by Kerchanshe Trading, one of the largest producers and exporters of coffee in t...

Dec 19 , 2020

Zemen Brings in Outsider Help for Mag't Strategy

Zemen Bank has joined the ranks of commercial banks that have contracted external consultants to overhaul their management strategies. Zemen has hired PricewaterhouseCoopers East Africa (PwC) to desig...

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