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Wegagen Bank Launches Digital Lending Platform

A digital lending platform for micro, small, and medium enterprises (MSMEs) was launched by Wegagen Bank last week. Dubbed Efoyta, the application is put forth in partnership with Kifiya Financial Tec...

Ethiopian Faces Suspension After Eritrea Cites Service Issues

Ethiopian Airlines has confirmed its flight suspension to Eritrea within the next two months. This follows a statement from the Eritrean Civil Aviation Authority issued last week, suspending Ethiopian...

Jul 28 , 2024

Awash Bank Posts Record Profit, Deposits Surge

Awash Bank has posted impressive financial results for the year, solidifying its position as a major player in the banking industry. With gross profit surging to 11.6 billion Br, Bank President Tsehay...

Jul 28 , 2024

Parliament Declares National Mourning for Landslide Victims in Gofa Zone

Parliament has declared a three-day national mourning period to honour the memory of hundreds who lost their lives in a catastrophic landslide in Gofa Zone, Southern Ethiopia Regional State. The tr...

Jul 21 , 2024

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the tota...

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and...

Jul 21 , 2024

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 bill...

Jul 21 , 2024

Farmers Embark on New Digital Platforms

New platforms were launched to connect smallholder farmers with potential buyers and improve the distribution of agricultural inputs, ensuring efficient and transparent delivery of fertilisers, improv...

Jul 21 , 2024

Ethiopia Attracts $3.8b Foreign Investment Despite Export Setbacks

Ethiopian Investment Commission (EIC) secured a substantial increase in foreign direct investment (FDI) during the ended fiscal year, amidst declining export earnings from industrial parks. Commiss...

Jul 21 , 2024

Ethiopia, UAE Sign Currency Swap Deal

An agreement that allows the exchange of loans and interest payments between Birr and Dirham, Emirates' national currency, has been signed between the National Bank of Ethiopia (NBE) and the Central B...

Jul 21 , 2024

Ethiopian Chamber Makes Comeback with New Leadership

Ethiopian Chamber of Commerce & Sectoral Associations' (ECCSA) long-awaited general assembly elected Sebsib Abafira from the Oromia Chamber and Aynalem Abayneh (PhD), a former board member from th...

Jul 13 , 2024

Ethiopia's Central Bank Dips a Toe in the Open Market Waters

In a historic move to manage liquidity within the banking system, the National Bank of Ethiopia (NBE) held its first-ever open market operation (OMO) on July 11, 2024. The auction drew notable interes...

Jul 13 , 2024

CBE Shatters Profit Record at 25.6B BR

The state-owned Commercial Bank of Ethiopia (CBE) registered a record-breaking 25.6 billion Br in gross profits for the ended fiscal year, driven by aggressive cost-cutting measures. While CBE face...

Jul 13 , 2024

Ethio telecom Dominates Industry with Expanding Profits, Coverage

The state-owned teleco company netted 21.7 billion Br in the financial year, posting a 21.7pc jump in revenues to 93.7 billion Br from last financial year. While it has not enjoyed a monopoly since th...

Jul 13 , 2024

Fuel Prices Rise as Shortages Linger

Drivers will face higher costs at the pump after the Ministry of Trade & Regional Integration announced adjustments to fuel prices. The changes, effective last week, reflect rising global fuel pri...

Jul 13 , 2024

Bankers Association Re-elects Leadership Team for Second Term

Ethiopian Bankers Association (EBA) re-elected its leadership a fortnight ago, making Abie Sano, president of the Commercial Bank of Ethiopia (CBE), its president. Asfaw Alemu, president of Dashen Ban...

Columns

Commentaries | Jul 18,2026

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