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Fortune News

Mar 28 , 2020

Lion Welcomes Ex-Army Chief of Staff as Board Chair

The National Bank of Ethiopia has approved Tsadkan Gebretensae (Lt. Gen.), former chief of staff of the Defense Forces, as the board chairperson of Lion Bank. Tsadkan replaces Tassew Woldehanna (Ph...

Mar 28 , 2020

INSA Launches COVID-19 Monitoring Platform

The Information Network Security Agency (INSA) has launched an integrated Novel Coronavirus (COVID-19) monitoring platform developed for 1.5 million Br from the Agency's coffers. Launched on March...

Mar 28 , 2020

Trade Ministry Moves to New Rental Building

With the main aim of consolidating and governing two recently merged ministries under one roof, the Ministry of Trade & Industry has leased a seven-story building for a 2.65 million Br monthly fee...

Mar 28 , 2020

Agency Disburses Trachoma Medications

The government has started the process of distributing 971.4 million Br worth of trachoma medications that can treat over 14 million people. Ethiopian Pharmaceuticals Supply Agency (EPSA) started t...

Mar 28 , 2020

Global Registers Moderate Profit, EPS Slides

Despite moderate growth in profit, Global Insurance's earnings per share (EPS) fell slightly by 10pc in the past fiscal year. The company netted 22.1 million Br in profit, achieving four percent gr...

Mar 28 , 2020

New Full-fledged, Interest-Free Bank Queues Up

Shabella Bank, an interest-free bank under formation, has sold 270 million Br worth of shares, of which 120 million Br has been paid. Founded by 20 individuals from the Somali Regional State, the B...

Mar 21 , 2020

ON THE FRONT LINE

Jostling through heavily congested roads worsened by ongoing construction, there is just off to the side an unassuming, depressing, cobblestone alleyway through a cemetery. Several ambulances haphazar...

Apr 1 , 2020

COVID-19 Outbreak Puts Flower Exports in Danger

Ethiopia's flower industry, the second-largest exporter to Europe, is at the brink of disaster with close to 11 million dollars in losses incurred over the past two weeks. A total of 150,000 employees...

Mar 21 , 2020

Supreme Court Establishes Electoral Benches

The Federal Supreme Court started establishing benches at all levels of federal courts to handle disputes that arise in the upcoming election. The Court started establishing benches two weeks ago i...

Mar 21 , 2020

Ministry Waives Excise Tax on Denatured Alcohol

With the goal of making hand sanitizer available to the public, the Ministry of Finance lifted the 60pc excise tax imposed on denatured alcohol last week. The tax was waived after hand sanitizer pr...

Mar 21 , 2020

Coop Bank Nets Huge Profit, Yet Earnings per Share Falls Off

Cooperative Bank of Oromia, the 15-year-old bank, registered considerable profit growth in the last fiscal year, yet earnings per share (EPS) slid slightly. In the reporting period, the Bank netted...

Mar 21 , 2020

Ethio Telecom to Give Smartphones on Credit

With the main aim of boosting telecom penetration and smartphone usage, Ethio telecom is set to introduce a device financing model, where customers can get phones on a credit basis. The state telec...

Mar 21 , 2020

Surge in Claims Shrinks Lucy Insurance's Profit

Lucy Insurance, one of the late entrant insurance firms, recorded a 76pc decline in profit after tax during the last fiscal year. In the reporting period, the firm netted 6.3 million Br in profits...

Mar 21 , 2020

Taxi Hailing Services Gear Up For COVID-19

The two leading taxi-hailing companies Ride and ZayRide are manning the front lines of the Coronavirus (COVID-19) pandemic by allocating funds to equip their drivers with face masks and gloves to curb...

Mar 21 , 2020

Regional Gov't Builds Office Complexes

The Oromia Regional State has begun building nine public office buildings in seven regional towns at an estimated investment cost of 428 million Br. The Regional State's Urban Development & Hou...

Mar 21 , 2020

Debub Global En Route to Secure Land for HQs

Debub Global Bank, one of the late entrants in the industry, has finalised the process to secure a plot for its headquarters in the capital's financial district. The land, which is located behind t...

Columns

Commentaries | Jul 31,2026

The Rains May Fail, Policy Dare Not

Weldu Yiheysh has not read the Pacific temperature charts. He does not need to. In Shibta...

Editorial | Jul 31 , 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

Tax Bills Outrun the Metre, Stalling Ride-hailing Drivers

Elbeletel Tilahun was among the ride-hailing drivers startled by this year's tax assessmen...

Agenda | Aug 1 , 2026 . By BEZAWIT HULUAGER

Right-sizing Tests Addis Abeba University’s Promise for Autonomy

Addis Abeba University set out to win its institutional autonomy. Two years in, that freed...

Fortune News | Aug 1 , 2026 . By NAHOM AYELE