Fortune News

FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New

Fortune News

Mar 12 , 2020

Ethiopia Earmarks 300m Br to Deal with Coronavirus Preparedness

Ethiopia has earmarked this week a special budget of 300 million Br fo prepare itself in the likelihood Novel Coronavirus (COVID-19) surfaces. The fund will be allocated to pay for the mobilization of...

Mar 12 , 2020

Record Number MPs Vote against Daniel Kibret's Place in Media Board

Daniel Kibret, an advisor to Prime Minister Abiy Ahmed (PhD), has earned a place in legislative history for receiving the highest number of votes against his nomination as a director of the board of t...

Mar 12 , 2020

Parliament Approves Appointment of Four Ministers

The parliament has approved the appointment of four ministers today with 21 MPs voting in opposition. Adanech Abiebie was approved as the country's Attorney General, replacing Brehanu Tsegaye, now...

Mar 12 , 2020

Parliament Confirms New Anti Corruption Czar

Members of parliament have confirmed the appointment of a new anti-corruption czar. Tsega Arage is appointed as commissioner of the Federal Ethics & Anti Corruption Commission. His appointment was...

Mar 9 , 2020

Oromia Int'l Bank Appoints Acting, Seeing a Revered President Leave

The board of directors of the Oromia International Bank (OIB) has named Teferi Mekonnen as acting president after seeing Abie Sano, a respected banker, return to lead Commercial Bank of Ethiopia (CBE...

Mar 7 , 2020

ECONOMIC WHEEZES

China has sneezed and dozens of countries around the world have caught a cold. The Novel Coronavirus Disease 2019 (COVID-19), a respiratory illness that began in the Wuhan District of China, has infec...

Mar 7 , 2020

Bill Afoot to Establish National Logistics Council

A regulation, which will form a 10-member national council that will put forward policy interventions to solve the bottlenecks in the logistics industry, has reached the final stage before it becomes...

Mar 7 , 2020

CBE Avails $25m to Shipping Lines Monthly

Commercial Bank of Ethiopia (CBE) started transferring 25 million dollars to the state logistics monopoly, which is challenged with obtaining foreign currency, on a monthly basis. The forex will be us...

Mar 7 , 2020

Authority Sets Minimum Coffee Export Price

With the main goal of fighting under-invoicing, the Ethiopian Coffee & Tea Authority issued a directive that sets the daily minimum price of coffee for international trade. A new directive issu...

Mar 7 , 2020

NBE Mandates Banks Allocate Loans to Agriculture

Banks must now allocate five percent of their annual loans to individuals in the agricultural sector and take movable property as a guarantee, according to a new directive that was issued last week. ...

Mar 7 , 2020

Tulu Moye Geothermal Commences Drilling

Tulu Moye Geothermal Operations Plc has started the first phase of drilling to generate 50MW of power in Iteya geothermal site in Arsi Zone of Oromia Regional State. The drilling operation is part...

Mar 7 , 2020

Agency Devises Mandatory Hygiene Standard for Hotels

The government is preparing new mandatory health and hygiene standards for hotels and hospitality service providers. Led by the Ethiopian Standard Agency, the standards are being prepared by a work...

Mar 7 , 2020

Global to Pioneer Islamic Insurance Service

Global Insurance is on its way to becoming the first company to launch Takaful, an insurance product that is as required by Shariah law. Global started the process of obtaining a license from the N...

Mar 7 , 2020

Awash Comes out as Most Capitalised Firm

Despite losing the most-profitable position to its nearest competitor Nyala, Awash Insurance continues to lead the industry as the most capitalised firm. In the last fiscal year, the company had a...

Mar 7 , 2020

Axum Hosts New Five-Star Hotel

Axum, a town known for pilgrimage and cultural heritage, welcomes a new five-star hotel built for 270 million Br. Atranos Fantasy Hotel & Spa, a new local brand, opened its doors three weeks ag...

Mar 7 , 2020

Nib Nets Huge Profit, Yet Forex Earnings Dip to Zero

Nib International Bank, a two-decade-old firm, was highly successful this past fiscal year, registering considerable net profit growth. In the reporting period, the Bank netted 722 million Br in pr...

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