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Fortune News

Nov 9 , 2024

IMF Acknowledges Reform Progress, Prescribes Cautions on Economic Recovery

International Monetary Fund (IMF) has projected that Ethiopia's economic recovery under the new macroeconomic reform will advance slowly, tempered by tight financial conditions and lingering uncertain...

Nov 9 , 2024

Under Pressure, Shareholders Begin Talking Mergers to Fortify Against Rivals

Apprehensive of a rapidly changing financial sector, banks have shareholders weighing mergers and acquisitions to strengthen their foothold against impending foreign competition and fear of failing to...

Nov 3 , 2024

Ethiopian Airlines Takes Off a Spirited Bid to Rent Forex Bureaus

Ethiopian Airlines Group has extended an invitation to financial institutions and newly licensed foreign exchange bureaus, offering the possibility to rent space within the bustling Terminal Two at Bo...

Nov 3 , 2024

Fertiliser Bid Falls Short, Exposing Fragile Supply Chain During Global Price Surge

Federal authorities' efforts to secure sufficient fertiliser for the vast agricultural sector have hit a snag, as a recent international tender failed to attract enough bidders to meet farmers' needs...

Nov 3 , 2024

Ministry Embarks on Ambitious Education Reform

Parliament received a bill last week mandating year-long training and biennial license renewals for school teachers, principals, and supervisors. If approved, the Ministry of Education will oversee th...

Nov 3 , 2024

Franco Valuta Scheme Under Scrutiny as Government Pursues Economic Reforms

The federal government is moving to reform the franco valuta scheme after it opened unintended avenues for market distortion, according to Prime Minister Abiy Ahmed (PhD). Originally aimed at easing f...

Nov 3 , 2024

Wegagen, Awash Banks Forge Path in First Digital Interbank Loan

Two private banks became the first financial institutions to transact on an electronic platform managed by the Ethiopian Securities Exchange (ESX) and developed by Info-Tech Group. In an initial au...

Nov 3 , 2024

QUAKES UNEARTH SHAKY DISASTER RESPONSE

Nestled within the seismically active East African Rift System, the Afar Regional State is no stranger to earthquakes. The latest was a few minutes past midnight on Saturday, November 3, 2024. Twenty...

Oct 27 , 2024

HOPES HIGH - STADIUMS STILL HOLLOW

Ethiopia's ambition to host the 2029 Africa Cup of Nations (AFCON) is seen as a bold bet that contrasts with the struggling state of its domestic football league and inadequate infrastructure. The exc...

Oct 27 , 2024

Forex Policy Repeal Jolts Local Pharma Industry

The recent repeal of a 55pc foreign currency allowance for raw material imports has disrupted the pharmaceutical sector, leading to operational issues and heightened uncertainty. The move aligns with...

Oct 27 , 2024

Central Bank Turns to Private Banks to Keep Fuel Flowing

The National Bank of Ethiopia (NBE) has enlisted private banks to shoulder a substantial portion of the foreign currency needs for fuel imports, a role previously tightly controlled by the state. Its...

Oct 27 , 2024

Election Board Tightens the Reins on Political Parties

The National Election Board of Ethiopia (NEBE) has implemented a sweeping hike in fees for political party registrations and document amendments. The move aims to discourage frivolous party formations...

Oct 27 , 2024

Banks Battle Retroactive VAT Demands

Commercial banks find themselves in a quagmire following the implementation of the new Value Added Tax (VAT) Proclamation, ratified in July 2024. Confusion has permeated the sector as tax authorities...

Oct 20 , 2024

Oilseeds, Pulses Exports Break Free from Exchange Floor

Pulses and oilseeds are poised to be transacted through direct contacts between suppliers and exporters, marking a departure from the previous system that relied on the Ethiopian Commodity Exchange (E...

Oct 20 , 2024

Public Transport Tariffs Surge With Fuel Price Hikes

Public transportation fares in Addis Abeba increased two-fold following last week's fuel price hikes, marking the first fare adjustment in a year. The decision from Addis Abeba Transport Bureau comes...

Oct 25 , 2024

Authority Unveils Securities Trading, Investor Protection Bills

Ethiopia's long-awaited capital market is taking shape. Last week, officials unveiled two key draft directives for public consultation—one on Self-Regulatory Organisations (SROs) and another on the...

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

TOMATOES TASTE OF INFLATION

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

Fortune News | Oct 12 , 2025