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




Lalibela Restoration Sees Additional 260m Br Grant

Oct 22 , 2022


[ssba-buttons]

Churches in Lalibela are to get additional funding for restoration as a follow-up to ongoing works that began in the early 2000s. The French Development Agency (AFD) has signed a 260 million Br additional grant for restoring rock-hewn churches in Lalibela town and its surroundings. The Agency, which has a presence in 115 countries handling over 4,000 projects, has inked an agreement with the Ministry of Finance. UNESCO had requested Ethiopian authorities to deliver additional studies and a strategy to preserve and restore the 11 churches. The previous work was conducted in Lalibela three years ago, costing 109 million Br. The AFD has granted the fund as additional support aiming to see the surrounding town integrated with the heritage site. The Lalibela site's preservation, restoration, and enhancement project was a commitment that the French President, Emmanuel Macron, made after paying a visit to the town in 2019.


Radar

Liquidity Relief, Reform Pressure Meet as World Bank Prepares Major Budget Support

The World Bank is set to approve a 1.45 billion dollar budget support package for the Ethiopian government on June 25, 2026. The announcement came alongside a high-level consultation at the Ethiopian Skylight Hotel, where leaders from the Ethiopian Chambers of Commerce and Sectoral Associations (ECCSA) met with private sector representatives and the National Council. The package follows an earlier 17 billion dollar credit and summer service support allocation. Bisrate Teshome, senior private...


Radar

Cabinet Approves 502b Birr Budget as City Returns to Federal Subsidy

The Addis Abeba City Cabinet has approved a 502 billion Br budget for the 2026/27 fiscal year, a fiscal plan that marks a return to federal subsidies despite previous claims of municipal self-sufficiency. The budget, now awaiting final ratification by the City Council, incorporates a federal subsidy of more than 74 million Br. This policy reversal follows the 2025/26 mid-year salary revisions for civil servants, implemented to buffer the inflationary impact of the floating Birr on the cost of...


Radar

Global Analytics Meets Local Insight as WAAS Partners With Kantar in Ethiopia Expansion

WAAS International Plc has partnered with global analytics firm Kantar on June 12, 2026, to introduce predictive analytics and consumer tracking tools into the country's corporate market. The collaboration blends Kantar's global methodologies with WAAS's 35-year local data archive to support business leaders operating in a liberalising economy. WAAS Managing Director Efera Busa said the partnership connects global expertise with local context, delivering standardised metrics without losing cu...