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Fortune News

Dec 5 , 2020

Local Automotive Paint Maker Gears Up for Production

A local automotive and industrial paint factory built for 40 million Br in Dukem, Oromia Special Zone, will commence operations in half a year. Asmam Coatings & Chemicals Plc, which is mainly fina...

Dec 5 , 2020

Hospitality Firm Embarks on Packaging Business

A local firm primarily engaged in the hospitality industry has ventured into the production of packaging materials by establishing a carton plant after investing close to 121 million Br. Yhaenu Packag...

Nov 28 , 2020

DEFENCE FORCES CAPTURE, CONTROL MEQELLE

In a dramatic turn of events on Saturday, units of the Federal Armed Forces entered and captured the city of Meqelle, over three weeks after a military confrontation in Tigray Regional State began. La...

Nov 29 , 2020

Ethiopia Closes Telecom to Fourth Operator for 10 Years

The Ethiopian Communications Authority (ECA) has decided not to let a fourth operator enter the telecommunications sector for at least 10 years. The two new joining companies, which are expected to en...

Gov't Presses on with Sugar Estates Privatisation

The government has pushed the privatisation of sugar factories one step forward, kicking off the process of hiring a consultancy firm that will oversee the transaction. All told, the transaction advis...

Nov 29 , 2020

Abyssinia Bank Marks Prudent Growth

Bank of Abyssinia, one of the three most profitable banks in the country, registered moderate growth during the past fiscal year, netting 853.7 million Br in profit. The Bank's profit recorded 10pc gr...

Nov 29 , 2020

Law Sets Tariff Modes for Off-Grid Electricity

A new draft directive that outlines guidelines for setting and reviewing mini-grid electricity tariffs is making its way toward legalisation. Drafted by the Ethiopian Electric Authority, the directive...

Nov 29 , 2020

Development Bank Sees Top Level Reshuffle

The Development Bank of Ethiopia (DBE), the state policy bank, has appointed two vice presidents. Yilma Abebe, the Bank's internal audit director, was promoted to vice president in charge of small &am...

Nov 29 , 2020

Bunna Insurance Maintains Profitability, Yet Rate Slides

Bunna Insurance, one of the youngest insurance firms in the country, has netted 20 million Br in profit during the last fiscal year. The net profit, however, was 25pc lower in comparison to the preced...

Nov 29 , 2020

City Commences Well Drilling to Bridge Supply Gap

Eleven water wells that are expected to supply an additional 33,000 cubic metres of water to the capital are scheduled to start operations this coming January. The projects were awarded to four local...

Nov 29 , 2020

National Convention Bureau Gears Up for Launch

Ethiopia Convention Bureau, an agency in charge of attracting business and conference tourists to Ethiopia, will hold a national launching event in January with the slogan "Meet in the Land of Origins...

Nov 21 , 2020

FIFTH QUEEN OF MIDROC

Jemal Ahmed (left), managing director of Horizon Plantations, leads the charge in showing off to the city's Deputy Mayor, Adanech Abiebie (centre), its latest offering: a new supermarket. An event tha...

Nov 21 , 2020

On Ethiopia’s Debacle, Washington Speaks in Multiple Voices

From American foreign policy bigwigs to legislators in the Senate, statements coming out of Washington, DC, on Ethiopia's current conflict lack unanimity and in some cases are contradictory. It is a m...

Sep 1 , 2021

Central Bank Suspends Accounts Opened in Tigray State

The National Bank of Ethiopia (NBE) has ordered all bank accounts that have been opened in Tigray Regional State frozen. With the new procedure, an individual living in any part of the country cannot...

Nov 21 , 2020

Humanitarian Crisis Looming in North

Amidst a humanitarian crisis in Tigray Regional State, the federal government has deployed a fact-finding mission that will be looking for corridors of safe transit for humanitarian aid to the people...

Nov 21 , 2020

Nile Insurance Registers Modest Growth

The net profit of Nile Insurance, a 25-year-old firm, marginally increased by one percent to 112.1 million Br in the last fiscal year. The profit rise of Nile is lower compared to the preceding year's...

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