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Fortune News

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...

Mar 19 , 2020

Ethiopia: Seventh Coronavirus Case Positive

The seventh case of the Novel Coronavirus (COVID-19) was discovered in Ethiopia in an Australian citizen who travelled from Geneva, Switzerland. He arrived in Ethiopia on March 16, 2020, and was in se...

Mar 19 , 2020

CBE Pledges 10m Br to Contain COVID-19

The state-owned Commercial Bank of Ethiopia (CBE) has pledged 10 million Br, joining the national effort in fighting the outbreak of Novel Coronavirus (COVID-19). Donated to the Ministry of Health...

Mar 16 , 2020

Ethiopia Bans Public Gathering, Closes Schools to Contain Global Pandemic

The Ministerial Committee formed for the prevention of the potential spread of the Novel Coronavirus (COVID 19) has decided to close schools, except for public universities, for two weeks. It has also...

AGAINST THE GRAIN

Under normal circumstances, February is an amiable month to consumers of food items. Supply increases and inflation stabilises, offering a breath of fresh air in an economy where the cost of goods oft...

Mar 14 , 2020

Bill Takes Shape Introducing Royalty Fee for Seed Breeders

Seed breeders will get royalty fees when their variety is used for commercial purposes, according to a new regulation that was tabled to the Council of Ministers. Drafted by the Ministry of Agricul...

Mar 14 , 2020

Four Firms Seal Deal to Supply ICT Equipment

Four local companies have secured a deal to supply information communication technology (ICT) equipment worth 188 million Br to public offices. Imperial ICT Solution, National Marketers, Bridgtech...

Mar 14 , 2020

State Enterprise Contracts MetEC to Supply Heavy Trucks

Bishoftu Automotive Engineering Industries has secured a contract for the supply of a total of 126 heavy trucks to the state construction company for 327 million Br. A subsidiary of the state-owned...

Mar 14 , 2020

Djibouti's Shipping Company Acquires Second Vessel

The two-year-old Djibouti National Shipping Company has acquired its second container ship through an investment of seven million dollars. The company, which was formed under the Djibouti Ports &am...

Mar 14 , 2020

Profit Edges up Slightly at Oromia Bank, While Earnings per Share Tank

Oromia International Bank (OIB), a decade-old firm, registered marginal profit growth in the past fiscal year, walking backward from the considerable growth it reported the preceding year. The earn...

Mar 14 , 2020

NBE Compels Microfinance Firms to Partially Surrender Forex from Share Sales

Microfinance institutions are now required to surrender 30pc of the foreign currency they generate from the sale of shares to the Ethiopian diaspora to the National Bank of Ethiopia, according to a ne...

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