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Fortune News

Feb 8 , 2020

First Pharma Firm Enters Kilinto Industrial Park

A pharmaceutical firm formed after a joint venture agreement between Ethiopian and Indian investors became the first company to launch construction of a plant in Kilinto Industrial Park. Africure P...

Feb 5 , 2020

Ministry Lifts Excise Tax on Telecom Services

The Ministry of Finance has lifted the proposed five percent excise tax imposed on telecommunication services. The tax was lifted after the parliament called on the Ministry to hold a discussion with...

Feb 1 , 2020

Ethiopia Resumes WTO Negotiations with New Offer

After an eight-year halt, Ethiopia has reinstated the World Trade Organisation (WTO) accession process, placing a revised offer for goods and starting bilateral market access talks with some countries...

Feb 1 , 2020

Downbeat Times

The leading figures of the banking industry stood in a semi-circle to listen to a speech being given by Abie Sano, president of Oromia International Bank and the Ethiopian Bankers' Association, at a s...

Feb 1 , 2020

Diaspora Dive into Basic Commodity Imports

Ethiopian-born diaspora can now import basic food items using their own foreign currency, according to a new directive issued by the Ministry of Trade & Industry. Approved two weeks ago, the di...

NBE Tightens Regulatory Grip to Recover Liquidity Reserve

The National Bank of Ethiopia (NBE), which is very concerned with the depletion of the liquidity reserve of commercial banks, has tightened its grip on the industry in an attempt to resolve the ongoin...

Feb 1 , 2020

Milestone Commencement

Samuel Tafesse (centre), real estate mogul and founder of Sunshine Investment Group, was the centre of attention at the commencement ceremony of Western University College, where he was awarded an hon...

Feb 1 , 2020

Amid Ban, Dubai Firm Wins Wheat Supply Bid

Despite controversy with the government, Promising International Trading was awarded a contract to supply 75,000tn of wheat for 24 million dollars. The international firm was previously banned by t...

Feb 1 , 2020

Orbis, Ethio-Nippon Sold to Eritreans

Two Eritrean-born business people acquired Orbis Trading & Training Center S.C. and its sister company Ethio-Nippon Technical Center S.C. at the end of December. Though the figure was neither c...

Feb 1 , 2020

Regional Bureau Builds Cultural Centres for 1b Br

Three cultural centre buildings will be built in Addis Abeba within three years for an estimated cost of one billion Birr. The Oromia Culture & Tourism Bureau is constructing the cultural centr...

Feb 1 , 2020

Diageo Expands Malt Bottling Plant's Horizon

Meta Abo Brewery, a Diageo company, completed the expansion of its non-alcoholic beverage factory that produces the first Malta Guinness packed in plastic bottles for 14 million dollars. The new pl...

Feb 1 , 2020

Zemen Bounces Back from Slow Growth

Zemen Bank got back on track during the last fiscal year, reversing the previous year's disappointing meagre profit growth by registering 81pc growth in net profit . Last year, the Bank netted 489...

Feb 1 , 2020

Wegagen Lowers Lending Interest Rate

Wegagen Bank, one of the largest commercial banks, lowered its lending interest rate across four priority sectors by 0.5 to three percentage points effective in January. The lending interest rate a...

Feb 1 , 2020

Outstanding Claims Reduce Profit at Abay Insurance

Abay Insurance, one of the late entrant insurance firms, recorded a 15pc decline in profit after tax during the 2018/19 fiscal year. Last fiscal year, the insurance firm netted 56.2 million Br in p...

Jan 25 , 2020

Cash Strapped

Bank clerks count 900,000 Br worth of bills stashed on top of one another on a busy day at the main branch of one of the private banks. In the main hall of the bank, the scene was not as calm, as t...

Jan 25 , 2020

Bill Allows Foreign Firms to Use Own Forex

Foreign multinational companies will be permitted to use their own forex to import selected commodities, pending an approval from the macroeconomic committee, chaired by Prime Minister Abiy Ahmed (PhD...

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