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Jan 25 , 2025

Manufacturing Forex Allocations Surge, Ministry Reports

Minister of Industry, Melaku Alebel, reported that 369.11 million dollars in foreign exchange were availed to manufacturers by Ethiopian banks, achieving 79pc of the planned 468.42 million dollars. Last year, 274.1 million dollars was provisioned to the sector. During the Ministry's six-month rep...

Jan 25 , 2025

Railway Corp Launches Online Booking, Mandates Fayda ID for Travel

Ethio Djibouti Railway (EDR) SC announced the online booking platform starting in February for public passenger transport services. The EDR also announced that all travel bookings are mandated to provide Fayda, the national ID for booking and traveling. Takele Uma, CEO of EDR, stated that the company has diversified its business model due to the high demand for national cargo shipment and logistics service. EDR launched a three-year strategic plan last week aiming to introduce new capabilities, including a freight forwarding operation and a multimodal operation to improve railway efficie...


Jan 25 , 2025

Ethiopost Embraces Space Technology to Revolutionize Mail Delivery

Ethiopost, the national postal service, signed a Memorandum of Understanding (MoU) with the Ethiopian Space Science & Geospatial Institute (SSGI) to modernize its delivery services, aiming to integrate advanced mapping and satellite technology into Ethiopost's logistics framework. By incorporating updated maps, Ethiopost seeks to improve door-to-door delivery services towards faster and more reliable delivery times. At the signing ceremony last week, Ethiopost CEO Dagmawi Hailiye stressed the transformative potential of this collaboration, stating that it will modernize postal servic...


Jan 25 , 2025

Land Allocation Surpasses Target, Parliament Urges Timely Project Completion

The Ministry of Urban & Infrastructure provided over 11,000hct of land through allocation and bidding in regional and city administrations, surpassing the planned 7,000hct, according to the Ministry's half-year report. Parliament's Urban Infrastructure & Transport Affairs Standing Committee reviewed the Ministry's half-year plan performance report, urging the Ministry to ensure construction projects are completed on time and within budget. Minister Chaltu Sani also reported that 16 small towns that previously lacked plans now have them while road infrastructure work was conducted on 1...

Jan 25 , 2025

Ethiopia, Tanzania Power Deal Signed, Kenya to Transmit

A power sales agreement has been inked for 100 megawatts of electricity by Ethiopia to Tanzania, after a three-way negotiation between Ethiopian Electric Power (EEP), the Tanzania Electric Supply Company (TANESCO), and the Kenya Electricity Transmission Company Limited (KETRACO). The contract, which is based on legal, commercial, and technical considerations, was signed by representatives from each of the three companies and includes a power sales agreement between Ethiopia and Tanzania, and a power transmission line lease agreement between Kenya and Tanzania. The deal was approved by high...

Jan 25 , 2025

Ministry Reports Fuel Market Clean-up, Cement Prices Halved

The Ministry of Trade & Regional Integration reported that 325,000 litres of fuel were removed from the market following government action to address issues in fuel distribution and marketing, including the removal of 250 tankers during the procedure. In its six-month performance report to Parliament, the Ministry also pointed to cement prices which it claimed have halved. The Ministry addressed issues in the cement market by repealing a problematic directive and implementing a new policy, resulting in a 50pc price decrease from 2,200 Br to 1,100 Br per quintal. The Ministry took the ac...


Jan 19 , 2025

Yirgalem Hospital Inaugurates New Oxygen Production Plant

A new oxygen production plant has been inaugurated at Yirgalem Hospital Medical College in Sidama Regional State. The launch was attended by the regional state's chief administrator Desta Ledamo and Health Minister Mekdes Daba (PhD). Desta noted that a new kidney dialysis centre will soon be opened as well. Mekdes stated that the Ministry is working to increase the number of oxygen production facilities from the current 10 to 34 nationwide. The Yirgalem plant cost 86 million Br to build and has the capacity to produce 60 cubic metres of oxygen per hour or 1,440 cubic metres per day. This pr...

Jan 19 , 2025

Corridor Develops with Parking, Recklessness Concerns, Research Finds

Research involving 400 respondents across four first-round corridor development routes revealed major challenges to the initiative. The study, conducted by Shaka Analytics and ETC Institute in collaboration with the Addis Abeba City Transport Bureau, examined the impact of the program on transportation patterns, transit accessibility, and parking availability. The routes—Arat Kilo to Bole Deldey, Embassy of England to Arat Kilo, Mexico roundabout to Wello Sefer, and Piassa to Arat Kilo—were found to have a dramatic decline in available parking spaces with 70pc of respondents reporting a...


Radar

Jan 19 , 2025

Digitalisation Spreads to the Court System

Ethio telecom and the Amhara Regional State Supreme Court have agreed to implement a Smart Court project in Bahir Dar to modernize court operations using digital technology. This agreement includes bu...

Jan 19 , 2025

Awash Insurance Taps M-PESA for Digital Payment Solutions

Safaricom M-PESA has entered a strategic partnership with Awash Insurance to integrate its services into the M-PESA payment platform. This collaboration would present customers with secure, efficient...

Jan 19 , 2025

Convergence Initiative Seeks to Integrate Climate Action into Food Systems

Authorities are pursuing the integration of climate action into food systems and nutrition strategies through a national workshop held last week at Skylight Hotel on Africa Ave. The workshop gathered...

Jan 19 , 2025

Parliament Enacts Sweeping Property Tax, Dividing Lawmakers Over Fairness, Economic Impact

Federal legislators passed a landmark property tax law last week, granting regional states and municipal authorities new powers to levy taxes on land-use rights and housing. The bill, with four votes...

Jan 12 , 2025

Authority Enacts EV Charging Stations Directive

A new directive setting technical standards, licensing requirements, and safety measures for electric vehicle (EV) charging stations has been approved. Created by the Petroleum & Energy Authority...

Jan 12 , 2025

Fuel Prices Surge Following Subsidy Withdrawal

The Council of Ministers has authorised monthly reviews and adjustments to retail fuel prices, leading to a price hike on January 7. The increase affects gasoline, kerosene, white diesel, light bl...

Jan 12 , 2025

Wegagen Bank Expands into Diaspora Real Estate Market

Wegagen Bank has signed a memorandum of understanding (MoU) with Deluxe Properties to support diaspora communities in purchasing homes. The agreement was signed at Wegagen Bank's headquarters last wee...

Jan 12 , 2025

Parliament Tightens the Screws on Petroleum Distributors

Federal legislators passed today a sweeping bill tightening licensing requirements for distributors of petroleum products and imposing stiffer penalties on violators. The authors' of the bill beli...

Jan 12 , 2025

Dashen Bank Launches New Digital Banking App

Dashen Bank has introduced a new digital banking app that sets a new standard for convenience. The app combines all aspects of personal and commercial banking into one user-friendly platform. It offer...

Jan 12 , 2025

Parliament Approves Asset Recovery Law

Parliament has passed the Asset Recovery Proclamation with three votes against and four abstentions. The law grants the government extensive powers to trace, investigate, and confiscate assets obtaine...

Jan 4 , 2025

Tech Expo to Spotlight Digital Future, Emerging Technologies

An expo set on capitalizing on Business Process Outsourcing (BPO)—Future Tech Addis Expo 2025—is set to take place at Skylight Hotel in February. Organized by RCNDC Consultancy in partnership with...

Jan 4 , 2025

Ministry Leads New Climate Reporting System

The Ministry of Planning & Development launched an integrated system for measuring, reporting, and verifying greenhouse gas emissions, as well as monitoring and evaluating climate change implement...

Jan 4 , 2025

Haile Hospitality Expands with New Jimma Resort

Haile Resort Jimma, the tenth destination in the 15-year-old Haile Hospitality Group, was inaugurated last week at a cost of 1.7 billion Br, with financing sourced internally. Located 350km southwest...

Jan 4 , 2025

Reinsurer Navigates Headwinds, Grows Profit

Ethiopian Reinsurance registered an increase in profit after tax, reaching 391 million Br in financial year 2023/24, a 60pc jump of 146 million Br from the previous year. The company also saw a rise i...

Dec 29 , 2024

Digital Heights for Coop Bank, Profits Dip

The Cooperative Bank of Oromia (CBO) announced that a total transaction volume of 1.36 trillion Br was made through 489.5 million transactions on its digital platform, Coopay E-Birr. Fuel payment...

Dec 29 , 2024

AI-Powered, Sharia-compliant Digital Financing for MSMEs, Consumers Debuts

ZamZam Bank, in partnership with Kifiya Financial Technology, has launched a Sharia-compliant digital financing service, "Ansar Digital Financing". The service, which the Bank asserts is Ethiopia's fi...


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Commentaries | Jan 25,2025

Monetary Policy Walks a Tightrope Battling Inflation While Stifling Growth

Life Matters | Jan 25,2025

Breaking Stereotypes, Redefining Masculinity for a Just Society

My Opinion | Jan 25,2025

In Green Energy Gridlock, Markets Alone Can't Power the Transition

Sunday with Eden | Jan 25,2025

Wash Hands, Save Lives

Agenda | Jan 25,2025

New Traffic Rules Add Financial Strain on Addis Abeba Drivers

Editorial | Jan 25,2025

Birr in Tumble, Reform Rhetoric Meets Bitter Economic Realities


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Birr in Tumble, Reform Rhetoric Meets Bitter Economic Realities

Grand ambitions have long driven Ethiopia's successive leaders, but they remain weighed do...

Editorial | Jan 25 , 2025

New Roads Stimulate Post-Dusk Energy, Revamp Evening Scenes

Melese Gizaw, a former soldier from the Derg regime, finds himself drawn to cafes since le...

Featured | Jan 19 , 2025 . By YITBAREK GETACHEW

New Traffic Rules Add Financial Strain on Addis Abeba Drivers

Binyam Tesfaye, a 31-year-old father of two, is struggling under the weight of Addis Abeba...

Agenda | Jan 25 , 2025 . By ROBERA GETACHEW

MOTORISTS HIT BRAKES ON TOUGHER FINES

Many motorists face new and stricter traffic regulations introduced by the Council of Mini...

Fortune News | Jan 25 , 2025 . By ROBERA GETACHEW