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Fortune News

Jan 5 , 2025

Banks Overhaul Governance as Regulators Tighten Controls on Boardroom Power

Spurred by a set of directives the National Bank of Ethiopia (NBE) issued lately, commercial banks have embarked on a quiet overhaul of their governance structures. Details of how the rules will be...

Dec 29 , 2024

DREAMS BETRAYED, TRAFFICKED, ENSLAVED

A 25-year-old civil engineer graduate left for Thailand in September 2023, lured by the promise of a high-paying digital marketing job. He had struggled to find stable employment after graduating in ...

Dec 29 , 2024

Consumer Unions Become Collateral Damage in a Battle Against Sugar, Oil Distribution Inconvenience

Consumer unions in Addis Abeba are being sidelined as delivery companies take over the distribution of subsidized sugar and cooking oil. The transition has impacted many consumer unions who previously...

Dec 29 , 2024

Pharma Industry Confronts Customs Over Inflated Valuations

Pharmaceutical manufacturers are in dispute with customs officials over alleged inflated valuation of imported raw materials. The Ethiopian Pharmaceuticals & Medical Supplies Manufacturing Industr...

Jan 3 , 2025

Vehicle Importers Fight Back Authorities Over New Tax System

Over 100 vehicle importers have had their bank accounts frozen by tax authorities, while 41 have filed lawsuits against the Addis Abeba Revenue Bureau (AARB) over a disputed vehicle pricing standard,...

Dec 29 , 2024

Foreign Nationals Face Skyrocketing Fees, Unyielding Regulations

Foreign residents are facing higher immigration fees and tighter regulations that have left many confused and alarmed. The Immigration & Citizenship Service (ICS) recently increased renewal costs...

Dec 29 , 2024

Banks Caught in Tax Battle, Raising Investment Slowdown Fears

Banks and insurance firms are battling tax authorities over whether dividends used to pay for unpaid subscribed capital should be taxed. Nearly 25 financial institutions have already paid 5.7 billion...

Dec 22 , 2024

Banks Scramble to Reopen After Harer City Shuts Over Forty Branches

The Harer city administration has shut down 43 bank branches, including those of Commercial Bank of Ethiopia (CBE), Awash, Dashen, Zemen, and Berhan banks. The city administration attributed the closu...

Dec 22 , 2024

Tax Bureau’s Salary Standard Triggers Dispute Over Hidden Minimum Wage

The Addis Abeba Revenue Bureau's new salary standards for tax purposes have caused backlash from manufactures, service providers, and industry leaders. Businesses opposed the move stating the decision...

Dec 22 , 2024

Police University, Immigration Services Caught with Financial Mismanagement

An audit report presented to Parliament last week revealed financial irregularities at the Ethiopian Police University, including 86 million Br deposited into two accounts unauthorised by the Ministry...

Jan 3 , 2025

High-Stakes Ownership Dispute Pits Property Against Contract Law

The legal battle between BGI Ethiopia, a leading brewery, and Zewdnesh G. Asrat has centred on a debate whether the case should be treated as a property rights or a contractual dispute. In the open...

Jan 3 , 2025

Forex-Driven Fees Ignite Parental Fury in Addis Abeba's Schools

For many families in Addis Abeba, the new school year has brought an unwelcome surprise. Rapidly rising tuition fees at some of the city's most prominent international schools have prompted parents to...

Dec 22 , 2024

FUEL POLICY DRAINS ECONOMIC ENGINES

A newly drafted proclamation from the Ministry of Trade & Regional Integration (MoTRI) threatens to clamp down on contraband fuel sales and tighten regulation through digital payment mandates. How...

Dec 15 , 2024

STITCHED IN STRIFE - STARVED DREAMS

Industrial park workers struggle for wages so low that daily survival becomes an act of endurance. Faced with stagnant wages in factories that lure foreign brands with cheap labour, some workers turn...

Dec 15 , 2024

After Billions Poured, the Fields Stay Parched, Minister Admits

Abraham Belay (PhD), minister of Irrigation & Lowlands, has placed a five-fold budget increase from the Ministry of Finance to address mounting delays and flaws in its irrigation projects, subjected t...

Dec 15 , 2024

Coffee Actors Enthused, Anxious Over Record Price Surge

International coffee prices hit a record high after 47 years last week, sending ripple effects on the Ethiopian growers and exporters. Arabica coffee hit a high of 3.44 dollars per pound before coolin...

Columns

Commentaries | Oct 11,2025

The Human Flight a Failure of Political Imagination, Not a Mere Economic Policy

Ladislas Farago, a roving Associated Press (AP) correspondent, arrived in Ethiopia in 193...

Editorial | Oct 11 , 2025

TRADITION THRIVES AS COSTS CLIMB

As dawn broke over Addis Abeba last week, the city's arteries pulsed not with the usual we...

Featured | Oct 5 , 2025 . By REDIET YARED

TOMATOES TASTE OF INFLATION

Tomato prices in Addis Abeba have surged to unprecedented levels, with retail stands charg...

Agenda | Oct 12 , 2025

Ministry Shifts Gears as Number Plate Change Fuels Debate

A sweeping change in the vehicle licensing system has tilted the scales in favour of elect...

Fortune News | Oct 12 , 2025 . By BEZAWIT HULUAGER