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

Fortune Logo


Jul 13 , 2025

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while...

Jul 13 , 2025

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now secure EVs through flexible financing starting this month...


Jul 13 , 2025

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cybersecurity risks, new technologies, changing business models and geopolitical uncertainties. Over 70...


Jul 13 , 2025

AI Institute, Federal Police Ink Deal for Smart Station

The Ethiopian Artificial Intelligence Institute (EAII) and the Ethiopian Federal Police Commission (EFP) have signed an agreement to develop a Smart Police Station aimed at modernising law enforcement through artificial intelligence. The deal was formalised by EAII Director General Worku Gachena (PhD) and Police Commissioner General Demelash Gebremichael. Worku said the initiative aspires to position Ethiopia as a regional leader in AI-driven policing, while setting a benchmark for the continent. He also pledged the institute's commitment to delivering the project on schedule. Commission...

Jul 13 , 2025

Lowland Livelihood Project Completed in Dubti

Construction of the Lowland Livelihood Improvement Project in Dubti town, Algelyta Kebele, worth 10 million Br has been completed, according to Muhammad Hassan, the regional project coordinator. The livestock market centre is expected to consolidate previously scattered trade under one hub. Project activities have also shown promising results in poultry farming, beekeeping, irrigation, and related areas. The first phase has brought significant improvements to local livelihoods, while plans for a broader second phase are underway...

Jul 13 , 2025

Innovation Ministry Taps KPMG for Startup Consulting, Policy Reform

The Ministry of Innovation & Technology has inked a strategic partnership with KPMG East Africa in a bid to bolster Ethiopia's fledgling startup ecosystem. The collaboration will cover early-stage consulting, policy formulation, incubator support, and capacity building for public innovation institutions. Bayissa Bedada (PhD), state minister at the Ministry, underscored the initiative's alignment with the “Digital Ethiopia Strategy” under the government's 10-Year Development Plan. Vasken Sissian, associate director at KPMG, said the firm plans to blend global expertise with local insigh...


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...


Radar

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 Ta...

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 inclusi...

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 wi...

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...

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 & Spo...

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 ...


Most read

Columns

Commentaries | Jul 12,2025

The Cost of Capital Is a Public-Health Emergency for Africa

Life Matters | Jul 13,2025

Lessons in Bureaucracy

My Opinion | Jul 13,2025

The City That Refuses to Hear Itself

Sunday with Eden | Jul 12,2025

Half a Century of Impact

Agenda | Jul 13,2025

Brewing Trouble as Tella Bars Go Dry

Editorial | Jul 12,2025

Legal, Policy Volatility Turns Promises into Headwinds


         ADVERTISEMENT

Read More

Legal, Policy Volatility Turns Promises into Headwinds

Political leaders and their policy advisors often promise great leaps forward, yet they fr...

Editorial | Jul 12 , 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

Brewing Trouble as Tella Bars Go Dry

The sweet-sour scent of "tella" still lingered in the cramped compound off Tunisia Street...

Agenda | Jul 13 , 2025 . By BEZAWIT HULUAGER

Revenues Bureau Targets Landlords in Revenue Push

The Addis Abeba City Revenue Bureau has introduced a new directive set to reshape how half...

Fortune News | Jul 13 , 2025 . By YITBAREK GETACHEW