FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Haile Resorts Reopens Ziway Location

Nov 28 , 2020


[ssba-buttons]

Haile Hotels & Resorts, founded by Olympic record holder Haile Gebreselassie, has announced that it is reopening its Batu (Ziway) location this week. The location has been closed ever since it sustained heavy damage during the wide-scale destruction, looting and violence that occurred after the death of singer Hachalu Hundessa in late June of this year. The resort, which was first established in 2014 with an investment of 225 million Br, was subject to looting and arson during the unrest. The hospitality firm promised to have the location up and running quickly during a statement made at the opening ceremony of its seventh, and latest, location in Adama in early September. The location will resume operations following a reopening ceremony on December 1, 2020, less than half a year after its closure. While 80pc of the Batu location was destroyed in the unrest, the resort in Shashemene suffered almost complete destruction with only its gates left standing after an arson attack during the same period. Haile Hotel Shashemene was first opened in 2013 with an estimated investment of 130 million Br and was operating with a total of 130 employees before it was razed to the ground.


Radar

Tariff Reform Powers EEP Revenue to 119 Billion Br

Ethiopian Electric Power (EEP) collected 119 billion Br in revenue during the 2025-2026 fiscal year, up 57.8pc from the previous year, while recording a gross profit of 39.5 billion Br. The performance comes as EEP faces public scrutiny over a multi-year electricity tariff reform. EEP achieved 92pc of its 129.8 billion Br revenue target. It attributed the performance to improved revenue collection systems and better coordination, following a period in which the utility operated at a significa...


Radar

ESX Names Yodit Kassa CEO in Leadership Handover

The Ethiopian Securities Exchange (ESX) said on August 7, 2026, that its founding Chief Executive Officer, Tilahun Esmael (PhD), had been replaced by the Chief Operating Officer, Yodit Kassa. ESX credited Tilahun with steering the Exchange from its early project phase into a fully operational securities market. He established its governance, technological and operational foundations while building relationships with regulators, investors and other stakeholders. Yodit and Tilahun have been...


Radar

Enat Bank Enlists Partners to Develop Gender Bond

Enat Bank has entered a four-party partnership to develop what the partners describe as Ethiopia's first private-sector gender bond. The bank signed a memorandum of understanding with FSD Ethiopia, I-Capital Africa Institute and FSD Africa to structure and launch the bond. The partners will collaborate throughout the pre-issuance and post-issuance phases. Their work will cover transaction structuring, framework development, regulatory compliance, investor engagement and post-issuance manageme...