FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo


Jul 6 , 2025

Capital Markets Set for Lift with Real Estate Funds, Commercial Paper

Ethiopia's financial sector is on the brink of a transformative shift as the Ethiopian Securities Exchange (ESX), with FSD Africa and FSD Ethiopia, prepares to launch Real Estate Investment Trusts/Funds (REIT/Fs) and a Commercial Paper (CP) market. This plans to deepen capital markets and open inves...

Jul 6 , 2025

Ethiopia Unveils Consortium to Insure Millions of Farmers

Ethiopia has launched its Agricultural Insurance Consortium (AICE), pledging to protect three million farmers by 2026. Announced on July 3, 2025, at the Hyatt Regency, the initiative is backed by Pula Advisors and five major Ethiopian insurers. AICE plans to promote climate resilience through insurance bundled with the government's input voucher system. Leveraging AI platforms like Mavuno and PIE, it plans to standardise products, lower costs, and expand coverage to over 200 woredas. With agriculture supporting 85pc of the population but formal insurance almost non-existent, this marks a signi...


Jul 6 , 2025

New Coopbank Partnership Targets Youth Economic Empowerment

The Cooperative Bank of Oromia (Coopbank) has signed a strategic agreement with Melka Ethiopia to provide loan services to over 120,000 young men and women nationwide. The partnership plans to promote youth economic empowerment by expanding access to finance and creating jobs, with a strong focus on rural and underserved areas. Both institutions held joint discussions to explore ways to improve youth livelihoods and financial inclusion. By closing access gaps, the partnership is expected to help promote entrepreneurship and self-employment among the youth...


Jul 6 , 2025

Ethiopian Netpreneur Program Training Kicks Off

The Ethiopian Netpreneur 2025 Training Program has officially launched its first cohort in Addis Abeba with 64 entrepreneurs beginning their first round of training. Organised by the Global Digital Talent Academy, the initiative plans to empower local business owners, startup founders, and digital sector players with global-level e-commerce skills. At the launch event, Innovation and Technology Minister Belete Mola (PhD) urged participants to leverage the opportunity to build networks and shape Ethiopia's digital future. The program is set to run in multiple rounds and is expected to cultivate...

Jul 6 , 2025

Safaricom Ethiopia Launches Social Impact Foundation

Safaricom Ethiopia has launched the Safaricom Ethiopia Foundation, registered under the Authority for Civil Society Organisations, to scale its social investments in education, health, digital inclusion, economic empowerment, and emergency response. Though newly formalised, the company has already invested over 110 million Br in community programmes and mobilised 540 million Br through global partnerships, mainly for youth digital skills. Upcoming plans include providing internet and devices to schools and supporting rural farmers and women through M-PESA. Safaricom says the Foundation reflect...

Jul 6 , 2025

Ethiopian Capital Market Secures Major Grant

The African Development Bank(AfDB) has approved a 400,000 dollars grant to support Ethiopia's emerging capital market ecosystem. Funded through the Capital Markets Development Trust Fund, the grant will strengthen the Ethiopian Capital Market Authority's (ECMA) infrastructure and help the Ethiopian Securities Exchange (ESX) diversify its offerings. ECMA will develop a public disclosure platform to improve transparency, while ESX plans to introduce products such as exchange-traded funds, sukuks, and green bonds. This marks the Fund's first project outside West Africa. Officials say the initiati...


Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dollars construction and 395 billion dollars infrastructure markets. Over 180 exhibitors from more t...

Jun 29 , 2025

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coordinated sports initiatives. University President Jemal Abafita (PhD) said the collaboration is ex...


Radar

Jun 29 , 2025

Customs Drafts New Code to Rein in Clearing Agents

The Ethiopian Customs Commission has drafted a new Code of Conduct for customs clearing agents, targeting long-standing issues of fraud, under-declaration, and informal brokerage that cost the state i...

Jun 29 , 2025

EFDA Launches Pharmaceutical Traceability Hub

The Ethiopian Food & Drug Authority (EFDA) has begun implementing its pharmaceutical traceability system to curb the flow of illegal medicines. Rolled out on June 26, 2025, the system requires all...

Jun 29 , 2025

Ethio-Re Set to Relocate as New Chair Takes Over

Ethiopian Reinsurance (Ethio-Re) is relocating its headquarters to the newly acquired Black Panther Building, purchased for nearly 100 million Br. Board Chairperson Dagnachew Mehari told Fortune that...

Jun 29 , 2025

NBE Requires Rating Disclosure From Foreign Banks

The National Bank of Ethiopia (NBE) has issued a directive requiring foreign bank applicants to disclose any recent credit ratings issued by external agencies but does not impose a minimum rating thre...

Jun 29 , 2025

ESX Sees First Broker-to-Broker Trade

In a landmark transaction, CBE Capital, acting on behalf of a client with a brokerage account, purchased shares from Wegagen Capital, representing Wegagen Bank. The deal marks the first-ever inter-bro...

Jun 21 , 2025

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's s...

CBE Hits Deposits Record

The Commercial Bank of Ethiopia (CBE) achieved a record 303 billion Br in deposits in the first seven months of the budget year—the largest deposit amount in the Bank's history. Total deposits now s...

Feb 10 , 2025

Revenue Bureau Cracks Down on Alleged Tax Evaders

Addis Abeba Revenue Bureau introduced a debt tracking system that would trace tax evaders. As a result, five vehicles were seized and sold to recover tax debts, generating 10.9 million Br. Currentl...

Feb 10 , 2025

Capital Market Authority Demands Share Data from Public Companies

The Ethiopian Capital Market Authority (ECMA) issued a public notice last week, requiring all publicly held companies with more than 50 shareholders to submit detailed information about their existing...

Feb 2 , 2025

New Unit to Oversee City Tax Audits

The Addis Abeba City Administration Revenues Bureau has launched a new work unit to ensure the quality of tax audit decisions through a re[1]auditing procedure. According to Adane Sule, the head of th...

Feb 2 , 2025

Shipping Behemoth Beats Profit Target Despite Cargo Dip

Ethiopian Shipping & Logistics (ESL) announced its six-month performance report for the fiscal year, revealing a mixed outcome. While it achieved 95pc of its operational service target, handling ...

Feb 2 , 2025

Customs Hits Revenue Target, Cracks Down on Smuggling

The Ethiopian Customs Commission announced that it has exceeded its revenue collection target for the first six months of the fiscal year. The Commission collected 203.75 billion Br, surpassing the pl...

Feb 2 , 2025

Italy Boosts Ethiopian Tech Innovation

A 4.69-million-dollar (4.5 million Euro) grant to establish an incubation centre for high-technology innovation enterprises has been availed by the Italian government. Minister of Finance, Ahmed Shide...

Feb 2 , 2025

President Taye Aspires for Lofty Universal Electricity by 2028

The government has set an aggressive goal to achieve universal electricity access by 2028, which requires electrifying 3.4 million households annually. The Mission 300 Africa Energy Summit in Dar es S...

Feb 2 , 2025

Electric Utility Progresses with Rehabilitation Ambitions

The Ethiopian Electric Utility's project to upgrade the power distribution infrastructure in Addis Abeba and its surrounding areas within a 50km radius is 88pc completed. It includes replacing old woo...

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 prov...


Most read

Columns

Commentaries | Jul 05,2025

How to Put Development Finance Back on Track

Life Matters | Jul 05,2025

The Nuances of Baby Carrying

My Opinion | Jul 05,2025

Baking a Country to Prosperity on Borrowed Yeast

Sunday with Eden | Jul 05,2025

Rise Without Ruin

Agenda | Jul 06,2025

When Pepper Burns the Purse

Editorial | Jul 05,2025

Civil Society Feels the Squeeze as Reform Era Unravels


         ADVERTISEMENT

Read More

Civil Society Feels the Squeeze as Reform Era Unravels

Six years ago, Ethiopia was the darling of international liberal commentators. A year earl...

Editorial | Jul 5 , 2025

Apparel Market Struggles Beneath a Second-Hand Deluge

Each June, Addis Abeba's high-altitude chill arrives with afternoon downpours, soaking sch...

Featured | Jul 6 , 2025 . By RUTH BERHANU

When Pepper Burns the Purse

The late-morning sun cuts through Addis Abeba's usual haze and lands on Haile Garment, an...

Agenda | Jul 6 , 2025 . By YITBAREK GETACHEW and NAHOM AYELE

Unity at the Budget Vote Tensions at Question Time

The federal legislature gave Prime Minister Abiy Ahmed (PhD) what he wanted: a 1.9 trillio...

Fortune News | Jul 6 , 2025 . By BEZAWIT HULUAGER