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Fortune News

Sep 18 , 2021

Amendment on Horizon Allowing ECX Guarantee Funds Reinvested

Authorities are set to introduce a new rule to enable businesses trading on the floor of the Ethiopia Commodity Exchange (ECX) to invest the settlement guarantee funds they deposit when they first acq...

Sep 18 , 2021

DBE Management in Pickle to Restart Operations at Ayka

The Development Bank of Ethiopia (DBE) is to float yet another auction for the Ayka Addis Textile Factory for a third time, despite its failure to renew its trade license. The Bank's management has...

Sep 18 , 2021

Postal Services Enterprise Jumps Rental Fees by 600pc

The Ethiopian Postal Services Enterprise (EPSE) has increased annual box rental fees by as much as 600pc, the first adjustment in 11 years. A regular mailbox at the Enterprise's head office on Chur...

Sep 18 , 2021

Modjo-Batu Expressway Tariff No Different from Other Tolls

Officials of the Ministry of Transport have approved a toll tariff for the Modjo-Batu Expressway, which will be open to traffic beginning this week. The approval comes after the Ethiopian Toll Road...

Sep 18 , 2021

Short Contract Farming Window Closes, Leaves Many in the Dark

Agribusiness firms without a contractual agreement with crop farmers are no longer allowed to export, following the expiration of a deadline set by the Ministry of Trade & Industry last week. T...

Sep 10 , 2021

THE BIG LIVE MUSIC COMEBACK

There is a slow-moving sensation taking place in Addis Abeba's nightlife. Live music is gradually but surely unseating DJs – nightclubs quietly displacing mixers and recorded music with bands and so...

Sep 10 , 2021

Central Bank Grants Nods to Cargo Truck Imports

Authorities at the National Bank of Ethiopia (NBE) have given commercial banks the nod to issue letters of credit (LCs) to close to 170 importers interested to bring in 3,200 cargo trucks. It is an...

Sep 10 , 2021

Coffee Sector Latest in Receiving Central Bank Loan Freeze Exemption

The coffee industry has become the latest to be exempted from the freeze on collateralised loans the central bank imposed last month. The development coincides with the coffee harvest season, expected...

Sep 10 , 2021

Fed Prosecutors Withdraw Charges on Former Education Ministry Officials for Flimsy Evidence

Federal public prosecutors have withdrawn charges they filed against former officials of the Ministry Education, accused of grand corruption in the procurement of textbooks. The accused have walked...

Sep 10 , 2021

Authority to Begin Certifying Electricity Generation for Private Consumption

Any entity wishing to produce electricity for private consumption will soon be able to request a permit from the Ethiopian Energy Authority (EEA). Prospective developers meeting requirements set forth...

Sep 10 , 2021

Awash Second Insurance Firm to Join Cell Phone Policy Market

Awash Insurance is gearing up to become the second firm to introduce a cellphone insurance policy. The 25-year old firm sent its proposal, along with a feasibility study, for approval to the National...

Sep 10 , 2021

Businesswoman Takes Charge of Hoteliers Lobby Group

The Addis Abeba Hotel Owners Association has elected a new chairperson, the second person to lead the 176-member lobby group in eight years. Aster Solomon, the owner of Mosaic Hotel, has been elect...

Sep 4 , 2021

THE HIVE: HEADQUARTERS BUZZ

Genene Ruga (left) and Woldetensai Woldegiorgis (centre), president and board chairman of Nib International Bank, respectively, handed Yinager Dessie (PhD), governor of the National Bank of Ethiopia ...

Central Bank Eases Loan Freeze on Importers, Manufacturers

Officials of the National Bank of Ethiopia (NBE) have loosened the restrictions on the banking industry, allowing importers and edible oil producers access to asset-based collateral loans. It is in...

Sep 4 , 2021

Lottery Admin to Place Ceiling on Betting Industry Payouts

Betting companies will not be allowed to pay out more than one million Birr to winners if a new directive drafted by the National Lottery Administration comes through the approval process. There ha...

Sep 4 , 2021

Nib Bank Finds Home in Hive

Nib International Bank has inaugurated a 37-storey headquarters in the Sengatera area, known as the Wall Street of Addis Abeba, 22 years after it was established. Located on Ras Abebe Aregay Street...

Columns

Commentaries | Apr 26,2025

Policymakers Trudge Down a Path of Punitive Taxation

Benjamin Franklin famously quipped that “nothing is certain but death and taxes.” Yet...

Editorial | Apr 26 , 2025

From Cassette, CD Dreams to Cloud Streams

Key Takeaways Kuku Sebsibie's transition to digital singles represents a shift in the...

Featured | Apr 19 , 2025 . By BEZAWIT HULUAGER

In the Shadows of Renewal, a Generation Struggles to Find Its Place

Takeaways: Hana Melaku's story demonstrates the personal turmoil within the broad...

Agenda | Apr 27 , 2025 . By BEZAWIT HULUAGER

Bound by Duty, Lawyers Fight for Fair Pay in Free Legal Aid Battle

Key Takeaways: The Ministry of Justice's directive plans to enforce pro bono work amo...

Fortune News | Apr 28 , 2025 . By NAHOM AYELE