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Fortune News

Feb 29 , 2020

NICE's Profit Stagnates Due to Stiff Competition

The profit of National Insurance Company (NICE), the country's first private insurance firm, stagnated in the last fiscal year, registering only a single percent increase. During the fiscal year, t...

Feb 29 , 2020

Lion Bank Sees Notable Profit Surge

For the second fiscal year in a row, Lion Bank has registered a remarkable performance, increasing its profit by 41pc. In the reporting period that covers mid-2018 through mid-2019, the Bank netted...

Feb 27 , 2020

Ethio telecom Cuts Tariff on Broadband, VPN Services

The state-owned telecom monopoly, Ethio telecom, has made tariff discounts on broadband internet and VPN services. The cut benefits residential users who will receive a 69pc discount, while 72pc and ...

Feb 27 , 2020

Gov't Drops Charges on Ermias Amelga, Alem Fitsum, 62 Others

The Office of the Attorney General dropped charges pressed against Ermias Amelga, founder of Access Capital Services, and Alem Fitsum, a hotel developer, who were charged with alleged corruption crime...

Feb 25 , 2020

Former Senior Economic Advisor Passes Away, in Hospital

Ethiopia's longest serving economic advisor, Newayeab Gebreab, has passed away yesterday morning, while receiving medical treatment in the Nordic Hospital, in Addis Abeba. He died around 10am, acco...

Feb 22 , 2020

Gov't to Launch Housing Projects Through Public-Private Partnership

If approved by the Ministry of Finance, private companies can partner with the government to develop real estate under a Public-Private Partnership (PPP) arrangement. For the scheme, the Ministry o...

Feb 22 , 2020

Entity Crops Up to Administer Land

A group of experts are expected to table a proposal to higher officials of the Ministry of Agriculture for the formation of an autonomous body that will administer lands. Known as the Land Administ...

Feb 22 , 2020

America's African Dream

Mike Pompeo, secretary of state of the United States, was casual, affable and positive discussing Africa's prospects in his meeting with Vera Songwe (PhD), executive secretary of the UN Economic Commi...

Hidasie Telecom Founds Microfinance Institution

A local telecom products and services distributor has jumped into the financial industry by establishing the 39th microfinance institution in the nation, which is expected to start operations this mon...

Feb 22 , 2020

New Bill Introduces Tourism Fund

Tourism Ethiopia drafted a new regulation that will enable the tourism industry to generate and administer its own finances. The draft regulation, which is expected to be tabled to the Council of M...

Feb 22 , 2020

Agency to Launch Fake Credentials Detection System

The government is set to launch an electronic information system that details the performance of higher education institutions and the academic background of students. Known as the Higher Education...

Feb 22 , 2020

Wegagen Bank's Profit, Earnings Per Share Shrink

Wegagen Bank, which joined the list of the top three most profitable banks two years ago, reported a less than stellar performance in the last financial year. Profits for the 23-year-old Bank slump...

Feb 22 , 2020

Court Sends Trademark Battle to Administrative Ruling

The Federal Supreme Court remanded the trade name battle between a leading coffee exporter and an oil importer to the Ministry of Trade & Industry for an administrative verdict. Mullege Plc, th...

Feb 22 , 2020

Authority Pushes Four Road Projects Forward

Three local and one Chinese company won contracts for the construction of four road projects with a length of 169Km, worth 4.8 billion Br. Ethiopian Roads Authority (ERA) awarded the contractors on...

Feb 22 , 2020

Dashen Avails 5b Br for Medium Enterprises

As part of the government's new job creation and unemployment reduction initiatives, Dashen Bank availed five billion Birr worth of loans for medium-size enterprises. To secure the loan, the benefi...

Feb 22 , 2020

Nyala Maintains Leading Position in Insurance Industry

Nyala Insurance's profit grew by 20pc last fiscal year, maintaining its leading position in the industry though its earnings per share (EPS) slipped slightly. In the last fiscal year, Nyala's net p...

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