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




New Orphanage Comes to Addis

Mar 9 , 2019


[ssba-buttons]

A new orphanage, called Qusquam, is being set up in Addis Abeba at a cost of 20 million Br. Zinash Tayachew, wife of Prime Minister Abiy Ahmed (PhD), laid the cornerstone for the building on March 8, 2019. The cost of construction will be covered by her office and Afro-Tsion Construction, which has experience working on large construction projects including the Oromo Cultural Center. The announcement for the construction of the new centre, which will be completed in half a year, will be a substitute for Zewditu Meshesha Children’s & Family Charity & Development Association, which was damaged by a fire three months ago. The new building will have classrooms, a library, a dining hall, training centres and a playground.


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...