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Dec 22 , 2024

World Bank Greases Financial Overhaul

The World Bank approved 700 million dollars in credit from the International Development Association (IDA) to scale up support for the financial sector. The funds are targeted at modernizing the regul...

Dec 22 , 2024

Gadaa Bank Expands Reach, Faces Lending Constraints

Gadaa Bank closed its first full fiscal year of operations with a net profit of 90.2 million Br. The 18-month-old Bank held its annual general assembly at Millenium Hall on Africa Avenue last week whe...

Dec 22 , 2024

Oromia Bank's Branch Expansion Weighs on Profits

Oromia Bank reported a 47pc decline in net profit to take in 840.9 million Br for the past fiscal year. Interest income grew by 21pc to reach 7.19 billion Br while personnel expense grew by 36pc to hi...

Dec 22 , 2024

Bunna Bank Profits Slow as Expenses Hasten

Bunna's paid-up capital increased by 12.8pc to 4.83 billion Br while its total assets grew by 17.5pc, reaching 54.53 billion Br. Despite a 20pc rise in total income to 8.03 billion Br, the Bank's net...

Dec 22 , 2024

Hijra Bank Rides 331pc Profit Growth, Braces for Innovation

Hijra Bank has netted 100 million Br in the ended year, marking a 331pc year-over-year increase. The Bank's total assets grew by 32pc to 8.18 billion Br, and paid-up capital rose by 17pc to 1.5 billio...

Dec 22 , 2024

Central Bank Gains More Autonomy, Targets Five Foreign Banks in Five Years

Parliament approved a new proclamation strengthening the National Bank of Ethiopia's (NBE) autonomy, granting it independence over monetary policy and foreign exchange management. The proclamation...

Dec 22 , 2024

Ahadu Bank President Steps Down

Ahadu Bank President Sefialem Liben resigned last week, with the Bank's board accepting his resignation on December 14. Sisay Gebru, who was the chief corporate service officer, has been appointed as...

Dec 15 , 2024

Ethiopian Airlines Fined $425,000 for Non-compliance

The United States Department of Transportation (DOT) has imposed significant fines on Ethiopian Airlines and Etihad Airways, totaling 425,000 dollars and 400,000 dollars, respectively. Ethiopian Airli...

Dec 15 , 2024

Enat Holds Steady as Revenue, Expense Soar

Enat Bank held its 11th Annual General Meeting of Shareholders last week at the Millennium Hall on Africa Avenue, where it announced a profit after tax of 555.2 million Br, exhibiting an incremental ...

Dec 15 , 2024

Addis Surges, Minimum Threshold Out of Reach

Addis International Bank reported an 85pc growth in net profit to come in at 413.87 million Br. The bank's total assets as of the 2023/2024 fiscal year were 15.4 billion Br, representing a 22.2pc rise...

Dec 15 , 2024

Siinqee Dips into Capital Market Pond

Siinqee Bank's shareholders voted to establish an investment bank as part of a wider plan to venture into the capital market ecosystem. Last week, at Skylight Hotel on Africa Avenue, founding presiden...

Dec 15 , 2024

New President, Rocketing Profits for Amhara Bank

Amhara Bank announced a net profit of 550.2 million Br in the fiscal year ending June 30, 2024, a substantial increase of 696 million Br compared to the previous year. Board Chairperson Gashaw Debebe...

Dec 15 , 2024

Cotton Sector Gets a Platform, Hopes to Bloom

The National Cotton Stakeholder Platform was officially launched last week at Best Western Hotel seeking to foster better governance, regional collaboration and inclusive growth in the industry. Stake...

Dec 8 , 2024

Nib Bank, Mastercard Avail Pre-Paid International Card

Nib bank has joined forces with the US-based technology giant Mastercard to unveil a virtual pre-paid payment card. Dubbed "Nib Mastercard," the digital offering responds to the growing demand for fl...

Dec 8 , 2024

Land-Based Network to Bypass Red Sea Risks

Ethio telecom, Djibouti Telecom, and Sudatel Telecom have joined forces to launch the Horizon Fiber Initiative, a groundbreaking project that aims to establish a terrestrial fiber-optic network connec...

Dec 8 , 2024

Emerging Fintech Captures Turnaround Profit

SantimPay Financial Solution announced a net profit of 57.3 million Br in its second year of operation, a significant turnaround from a loss of 7.1 million Br the year prior. The digital payment syste...


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Millions Looking for Work. Companies Cannot Find Many to Hire. A Paradox?

Pressed in Parliament on jobs and household incomes, Prime Minister Abiy Ahmed (PhD) offer...

Editorial | Jul 18 , 2026

EL NINO MEETS A REGION EMPTIED BY WAR

Weldu Yiheysh, a farmer in Shibta District of Enderta Wereda in the Southeast Zone, was st...

Featured | Jul 19 , 2026 . By GEBRU KAHSAY and WORKINEH DIRIBSA

A Sack of Cement, with the Chain No One Can See

In the Jemo area of Addis Abeba, Fikremariam Wondimu no longer trades cement so much as ga...

Agenda | Jul 19 , 2026 . By FITSUM TADESSE

Adverse Opinions Pile Up as Addis Abeba’s Budget Hits a Record

Bureaus, agencies and institutions under the Addis Abeba City Administration are sitting o...

Fortune News | Jul 19 , 2026 . By BEZAWIT HULUAGER