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Jan 28 , 2023

European Union, Ministry Launch Foreign Direct Investment Policy Briefs

Policy briefs on linking Foreign Direct Investment (FDI) with domestic manufacturers and FDI attraction strategy to feed into forming a solid manufacturing base are hoped to come to life through a tailored combination of financial and investment incentives. The policies are hoped to encourage loc...

Jan 28 , 2023

WET CARRIAGE

A carriage around the Ayat area delivers water, as homes rarely access tap water in the area. Ethiopia has nine major rivers, and twelve big lakes, often called the water tower of Africa. However, UNICEF estimates that up to 80pc of communicable diseases in Ethiopia are due to a lack of access to safe water and sanitation. The second most populous country in Sub-Saharan Africa has the highest percentage of the population without access to potable water at 60pc, while the average daily consumption is less than 20 litres a day...


Jan 28 , 2023

FRIENDLY SHOOT OUTS

Holiday activities at Jan Meda included penalty shoot outs for cash pay alongside other carnival games. The World Cup final in Qatar ended in penalty shoot outs this year, a global audience of 1.5 billion watched the spectacle. While the tournament's ending had stirred planetary awe, the death of 37 workers during the construction of the stadiums had given the games a sour taste early on. The tournament broke records of the biggest budget of more than 200 billion dollars and the most spectators of 2.5 million people...


Jan 28 , 2023

Investment Holdings Appoints Abdurahman Eid Tahir

Abdurahman Eid Tahir has been appointed as the Chief Executive Officer of Ethiopian Investment Holdings (EIH), a state-owned investment company, effective on January 25, 2023. The appointment comes days after Prime Minister Abiy Ahmed assigned the former CEO Mamo Mihretu as governor of the National Bank of Ethiopia (NBE). Abdurahman served as deputy before his appointment, in which Mamo described him as a "passionate reformer". He also served as head of Irrigation & Basin Development of the Somali Regional State. EIH was established last year by a decree of the Council of Ministers w...

CLEAN SWEEP

A young shoe shiner goes door to door, offering his services around the Stadium area. It is common in the capital to see young rural migrants engaged in physical labour, scraping change to send home. CHR Michelsen Institute (CMI) estimates that one out of three rural households has at least one family member migrating to cities. Extreme poverty and lack of access to farmland force many to look for better prospects in the city. Upward income mobility has remained stagnant over the last five years, with 'rags to riches' stories becoming more infrequent. ...

Jan 28 , 2023

ECX Introduces Digital Trade System

Exporters are to trade digitally with overseas buyers through an online Integrated Commodity Exchange Trading System. The electronics exchange centre is currently found in the capital, Sidama, Amhara, Oromia and Southern Nations regional states. According to Netsanet Tesfaye, corporate communications manager at ECX, exporters have thus far been trading by coming to the Ethiopian Commodity Exchange office or logging into regional electronics trading sites. They can now trade online from their digital accessories from anywhere. The new system will have access to membership, warehouse operatio...


Jan 28 , 2023

Young Musicians to Take Over Jamaica

A music festival expected to cost 250,000 dollars will be held in Jamaica after four months. Dubbed Royal Music Festival, the event headlines young musicians such as Kassmasse, Sami Dan, Nina Girma, Dawit Tsige, Yared Negu, and Yohana Molla. Based in Atlanta, the event is organised by Abyssinia and Nigus Entertainments, both with more than a decade of experiences in the business. Grammy Award nominee Jossy Royal, Jason Panto, Sizla Kolonji, and Micky General are expected to join the show from Jamaica. The festival will be held at the beach of Riu Hotel in Montego Bay, expecting 2,000 att...

Jan 28 , 2023

Pakistan-Based Firm Eyes Investment

Fertilizer, cement, mining and steel manufacturers foresee investment as a Pakistan-based corporation Arif Habib Group shows interest. The delegation from the Arif Habib Group, under Muhammed Kashif, met with officials and the Ministers in the sector, where they discussed the business opportunities to support. Muhammed also discussed with Lelise Neme, head of the Ethiopian Investment Commission, how the incentive packages would create a favourable investment environment for the investors. The Pakistani Ambassador, Jemal Beker Abdula, said it would provide lucrative opportunities, a business...


Radar

Jan 28 , 2023

Climate-Change Advocacy Leaps into Radio

Farmers in Amhara, Oromia, Sidama and Southern Nations regional states will get a five-year radio documentary on climate change. Dubbed Gender Inclusive Natural Based Solutions (NBS) the program is...

Jan 21 , 2023

Capital Gears Up to Host Leather Fair

Over 200 tanners, footwear and leather goods manufacturers and garment producers are preparing to showcase their products in three weeks. Close to 17,000 people are expected to attend the three-day ev...

Jan 21 , 2023

Former Ethiotel Chief Shifts to South Sudan

Andualem Admase (PhD) has been appointed as the new Chief of South Sudan Tele-Mobile (TMSS). The new appointment comes a month after TMSS signed a strategic partnership agreement with Ethiotelecom. ...

Jan 21 , 2023

Fed Inks Deal to Build Solar Power Plants

Two solar plants with a combined capacity of 500MW will be built following an agreement with Masdar, a UAE-based renewable energy company. Established in 2006 with three shareholders, Masdar, is a...

Jan 21 , 2023

Horticultures Envision Price Revision

The export price of fruits and vegetables, which had seen no change in the past four decades, foresees revision as technical committees from Ethiopia and Djibouti agreed to readjust the price of horti...

Jan 21 , 2023

Ministry Collects Over 138b Br Tax Revenues

Over 138.81 billion Br tax revenue has been collected in the past six months, announces the Ministry of Revenues. According to Meseret Meskele, state minister for tax operations under the Ministry...

Jan 21 , 2023

Japanese, Ethiopian Firms Finance Half a Million Dollar Worth Competition

Local startups are called to pitch their ideas on the road to becoming one of the eight startup businesses to secure capital ranging from 100,000 to half a million dollars, along with the prospect of...

Jan 21 , 2023

Lake Shores Foresee Economic Upturn

A project to develop water resources such as Tana and Zeway lake shores and motor boat facilities is approved with the ambition to turn water resource utilisation policies into effective practical act...

Jan 14 , 2023

Capital Inaugurates African CDC Headquarters

The headquarters of Africa Centres for Disease Control & Prevention CDC was inaugurated last week in Addis Abeba. The ceremony was held at the newly built headquarters located on Roosevelt Stre...

Jan 14 , 2023

Debre Berhan Rebrands as Investment Hub

Debre Berhan town, located 130Km from the capital, known for its cold climate and alcoholic beverage productions, has become a centre of large-scale manufacturing. The two-day investment expo last...

Jan 14 , 2023

Dashen Conveys Buy Now Pay Later

Customers of Dashen Bank get to enjoy a credit service through an application launched last week. The Bank President Asfaw Alemu said the App gives access to buy goods and services through credit, all...

Jan 14 , 2023

Ethiotelecom Marks Territory through Half Year Report

Ethiotelecom bagged 33.8 billion Br in revenues, showing a 20pc increase compared to the same period of the previous year. The Chief Executive Officer, Frehiwot Tamiru announced the result were gai...

Jan 14 , 2023

Kazana Jumps to Link Start-ups with Investors

A startup investment scheme to make investment accessible and accelerate the growth of the digital economy was launched two weeks ago. Dubbed Angel Syndicate, it is among the many initiatives that...

Jan 14 , 2023

Gojo Lottery Draw Sees 105 Houses Assigned

Of the 8,127 residents that have dwelled to get a house in the capital, 105 got lucky as Gojo Bridge Housing has drawn its first round lottery. The lottery was drawn for members saving 2,000 Br every...

Jan 14 , 2023

Siinqee Integrates to ECX Payment System

Siinqee Bank joins the Ethiopian Commodity Exchange (ECX) payment system as the 18th member. The Bank signed a memorandum of understanding focused on the payment and transaction entity for the exch...

Jan 7 , 2023

Hospital Services Resumed in Tigray Regional State

Eight hospitals and 26 health stations have resumed basic service to the community in Tigray Regional State. Ayele Teshome, state minister for Health, said that within a few days of the operation, ove...


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Can Mamo Overhaul the Central Bank? It’s Long Overdue.


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Can Mamo Overhaul the Central Bank? It’s Long Overdue.

It is not common to see an appointment for a senior federal government office stir debates...

Editorial | Jan 28 , 2023

Trailblazer Energy Firm LydetCo Goes Off-Grid

On the capital's outskirts, at about 400 meters from the Ayat roundabout, sits a sparkling...

Featured | Jan 28 , 2023 . By MUNIR SHEMSU

FUND STRAPPED YOUTH

Last week saw thousands of young individuals queueing at three branches of the Development...

Agenda | Jan 28 , 2023 . By MUNIR SHEMSU

"MISS" MATCHED APPOINTMENTS

In what has become common in the past four years, a new round of nominations was put befor...

Fortune News | Jan 28 , 2023