FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo



Kudu Ventures Launches $1m Investment Fund

Sep 28 , 2019

[ssba-buttons]

Kudu Ventures, a United States-based venture capital firm, announced a female-focused investment fund. Kudu Ventures will invest one million dollars for Kudu Women, which will be led by Betelhem Dessie, project manager for iCog Anyone Can Code. The project is dedicated to investing the one million dollars in over 100 homegrown female startups within the next two years in East Africa. There are only a few female tech entrepreneurs in Ethiopia, which has population of over 50 million women, according to Noel Daniel, co-founder and managing director of Kudu Ventures. Recently, Kudu Ventures allocated 100 million Br for startups, of which five million Birr will go to iCog Labs to support the acceleration programme.

Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...

Read more >>

Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...

Read more >>

Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...

Read more >>