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




Meta Abo Gets New Manager

Dec 19 , 2018


[ssba-buttons]

Meta Abo Brewery, a Diageo company, announced the appointment of Stephen Nirenstein as its new managing director of Ethiopia, replacing Baker Magunda, who moved to Guinness in Nigeria. Nirenstein has been with Diageo for the past 17 years and has worked in various positions from Brand Analyst in South Africa to Financial Controller in Nairobi. “I am excited to be in Ethiopia and join the Meta family,” said Nirenstein. Diageo is a global company that operates in more than 180 countries with brands that include Johnnie Walker, Crown Royal, J&B, Buchanan’s, Smirnoff and Guinness. Meta Abo Brewery, once a state-owned brewery, was acquired by Diageo in January 2012. Diageo acquired the Brewery for 225 million dollars and since then has invested 119 million dollars into its expansion.


Radar

Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


Radar

Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


Radar

Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...