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Fortune News

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...

Oct 13 , 2024

COFFEE EXPORTERS ROAST CURRENCY RULES

A new directive by the Central Bank requiring coffee exporters to convert half of their foreign exchange earnings into local currency within 30 days is causing upheaval in the crucial coffee industry...

Oct 13 , 2024

Regulatory Storm Looms Over Microfinance as Auditing Flops Spark Crackdown

The National Bank of Ethiopia (NBE) is heightening its regulatory oversight of microfinance institutions, fortifying a sector that has proliferated but faces mounting risks due to inadequate financial...

Oct 13 , 2024

Fertiliser Shortfall Worries Cast Shadow Over Agricultural Ambitions

Despite a substantial boost in budget and import volumes, farmers may contend with fertiliser shortages that could impact agricultural productivity in the coming farming season. The Ministry of Agricu...

Oct 13 , 2024

Rising Fuel Prices Ignite Concerns Over Subsidy Impact, Economic Strain

Fuel prices have spiked, exacerbated by global supply disruptions and a weakening Birr, leading to higher transportation and production costs. The federal government has announced close to 10pc increa...

Columns

Commentaries | Jul 25,2026

Cost Recovery by Public Institutions Becomes a Hidden Tax

Ideally, citizens who have paid income tax all year should not have to reach for their wal...

Editorial | Jul 25 , 2026

Chasing Excellence in the Summer, Raising Questions Over Who It Leaves Behind

For as long as her daughter had been in school, the summer break belonged to the family. E...

Featured | Jul 25 , 2026 . By BIZUAYEHU ABIY and TIGIST MEKONNEN

Shematera Weavers' Chain Meets the VAT Line

The footsteps, bargaining voices and rustle of cotton cloth that once filled Shematera in...

Agenda | Jul 25 , 2026 . By NAHOM AYELE

Global Bank Board Suspends 18 as Deposit Probe Widens

Global Bank's Board of Directors have overhauled top management, after suspending several...

Fortune News | Jul 25 , 2026 . By BEZAWIT HULUAGER