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Fortune News

Aug 11 , 2024

Customs' Exchange Rule Bites Importers' Cash

The Ethiopian Customs Commission has implemented a sweeping change in how import duties are calculated, rattling businesses across sectors. The shift, effective from July 29, 2024, comes as the Nation...

Aug 11 , 2024

Capital Market Architect Now Takes on the Country's Wealth Fund

Brook Taye's (PhD) career in public service has been anything but ordinary. As the founding Director General of the Ethiopian Capital Market Authority (ECMA), he has played a leading role in shaping t...

Aug 11 , 2024

Authority Moves to Spur Local Medical Device Production

The Ethiopian Food & Drug Authority (EFDA) has relaxed requirements for manufacturing products classified as "low risk," a category that includes sanitary pads, diapers, prosthetics, and over 700...

Aug 11 , 2024

Saudi-owned Arki Water Bottler Bets on Juice Production

As the manufacturing sector struggles with a panoply of issues, SBG Industry Plc, the bottler behind "Arki" water brand, has completed a five-million-dollar expansion project to boost its marketing an...

Aug 11 , 2024

Insurers Pushback Central Bank's Governance Bill

Regulators at the National Bank of Ethiopia (NBE) have proposed a new corporate governance bill aimed at improving the insurance sector's stability. This bill focuses on qualifications, oversight, and...

Aug 4 , 2024

BIRR FLOATS, BUSINESSES FEEL THE SQUEEZE

The Birr has crossed a historic threshold, hitting an exchange rate of over 100 Br to the dollar last week — a wake-up call for the country's economy. Examining historical trends in official and par...

Aug 4 , 2024

BGI Lawyers Summon Witnesses in Intensifying Ownership Dispute

BGI Ethiopia, one of the country's leading breweries, is embroiled in a high-stakes legal battle over ownership stakes, as its defence team called four witnesses to testify before the Federal Court. T...

Aug 4 , 2024

Market Forces Battle Inflation, Shortages

Edible oil, flour, diapers and baby formula are among the commodities largely affected in the market, as the country faces off its first week of a macroeconomic reform program. Following the reform, c...

Aug 4 , 2024

Prime Minister Abiy Announces Massive Salary Hike for Civil Servants Amid Economic Reforms

The public sector is set to see a salary adjustment of up to 300pc to its employees in hopes of addressing the cost of living that arises amid new macroeconomic reforms. Prime Minister Abiy Ahmed ...

Aug 4 , 2024

Ethiopias Eurobond Soars on IMF Lifeline

Ethiopia's euro bond jumped last week, scaling 2.23 cents to 77.48 cents on the dollar, its greatest gain since the previous year, Bloomberg reported. The increase followed a substantial bailout packa...

Jul 28 , 2024

BREWERIES' BITTER BREW

The introduction of an excise tax stamp system is stirring controversy in the beverage sector. The system, devised to create a robust and transparent tax management protocol whilst preventing counterf...

Jul 28 , 2024

Customs Defers Duty-Free Privilages as Bureaucracy Tightens Grip

Officials of the Ethiopian Customs Commission have drastically tightened the rules for duty-free import privileges. According to Commissioner Debele Kabeta, only army and national intelligence chiefs...

Jul 28 , 2024

Central Bank Unlocks Interbank Operation for Commercial Banks

The National Bank of Ethiopia (NBE) Governor Mamo Mihiretu has initiated a new directive allowing commercial banks to trade their liquidity through interbank money market operations, hoping to enhance...

Jul 28 , 2024

Lack of Credit Stifles Tigray Region's Economic Resurgence

In the aftermath of a devastating war that severely impacted its economy, investors in Tigray Regional State face difficulties to resume operations due to financial shortages and the inability to impo...

Jul 28 , 2024

FSD Africa Predicts Green Jobs Boom for Ethiopia

Ethiopia is poised to become a key player in Africa's green economy, with a new report forecasting the creation of up to 3.3 million direct green jobs across the continent by 2030. The report, "Foreca...

Jul 21 , 2024

Mismanagement, Missing Millions, a Mayor's Tall Order

Mayor Adanech Abebie's Administration faced an audit report that unveiled a startling picture of financial mismanagement, inefficiencies, and potential corruption, raising concerns about the Addis Abe...

Columns

Commentaries | Jun 06,2026

The Elections Offered Order at the Centre, Silence at the Edges

For a political veteran as controversial as Getachew Reda, last week's national elections...

Editorial | Jun 6 , 2026

Addis Abeba Pours a New Story in Every Cup, Where Tradition Meets Global Influence

Customers settle into a carefully curated space of dark wood, black accents, muted green f...

Featured | May 31 , 2026 . By HELINA HADGU

THE GOLD RUSH RUNS OUT OF FUEL

Zenebe Girja used to sit close to the centre of the formal gold trade, where sacks of raw...

Agenda | Jun 7 , 2026 . By MASTEWAL ZEMENE

National Census Delay Opens a New Fight Over Who Controls the Facts

The long-delayed census has returned to Parliament not as a counting exercise, but as a fi...

Fortune News | Jun 7 , 2026 . By NAHOM AYELE