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



MOENCO Introduces BYD Shark 6 as Hybrid Demand Gains Ground


MOENCO Introduces BYD Shark 6 as Hybrid Demand Gains Ground

Motor & Engineering Company of Ethiopia (MOENCO), the sole authorised dealer for BYD in Ethiopia, officially launched the BYD Shark 6, a plug-in hybrid electric vehicle (PHEV) pickup truck, at the Science Museum in Addis Abeba on May 22, 2026. The high-profile launch drew senior government officials, industry leaders, and representatives from BYD. Unlike the fully electric models previously introduced by MOENCO, the Shark 6 combines electric and fuel-powered performance to navigate both congested urban roads and the country’s rugged rural terrain. Company executives said the vehicle’s adaptability positions it as a strategic option for commercial operators and private consumers seeking improved fuel efficiency without sacrificing off-road capability. Equipped with advanced driver-assistance systems and modern connectivity features, the Shark 6 is being positioned as a premium yet durable contender in the increasingly competitive pickup segment. To ease concerns surrounding the long-term reliability of hybrid technology in the local market, MOENCO is offering an eight-year battery warranty alongside a six-year vehicle warranty. The dealership also confirmed that it has established a supply chain for genuine spare parts and specialised maintenance services to support the new model. As the country continues to face persistent foreign exchange pressures and volatile fuel prices, the growing shift toward PHEV technology is emerging as a practical middle-ground solution for logistics, transport, and agricultural operations.

[ssba-buttons]

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. Mekdes 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...


Radar

City Audit Uncovers 188 Million Br in Financial Irregularities

The Addis Abeba Finance Bureau has implemented corrective measures on 187.7 million Br in financial irregularities identified across 75 public institutions, as the city grapples with a 350-billion-Br financing gap for infrastructure and public services. The Bureau exceeded its annual audit target by 171pc, expanding oversight to 3,242 entities and improving audit report quality to 85pc. The performance comes after an international assessment ranked Addis Abeba first among six African cities f...