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Dec 29 , 2024

Local, International Firms Cooperate to Bridge Skill Mismatch

In a bid to address the pervasive skill mismatch, Geez Education & Training Plc (GET) has allied with International financial and management institutions to bridge the gap. Three international...

Dec 29 , 2024

BYD Launches with Vehicle, Battery Warranty

Moenco, the official distributor of BYD in Ethiopia officially launched its showroom offering a six-year or 150,000km vehicle warranty and an eight-year battery warranty. Located around Megenagna, Moe...

Dec 29 , 2024

Local Vaccine Production Secures Feasibility Study

A Memorandum of Understanding (MoU) was signed between the Ministry of Health and Tech Invention Lifecare, an Indian company, to conduct a feasibility study for vaccine production in Ethiopia. Min...

Dec 29 , 2024

Amigos Saving & Credit Climbs Profit Heights, Aims for Expansion

Amigos Saving & Credit Cooperative Society Ltd. took in 145 million Br in net profit during the last fiscal year, with an increase of 112pc from the preceding year. Its revenue also soared to 306...

Dec 29 , 2024

Authorities Suspend Property, Title Transfers in Six Districts

Addis Abeba has suspended property and title transfers in selected subdistricts across six districts to address land ownership issues and implement a modern cadastre system, according to the city's La...

Dec 22 , 2024

Electricity Bills Get the VAT Jolt

The new Value Added Tax (VAT) has begun implementation on electricity consumption and various service fees affecting customers who use more than 200 kilowatt hours of electricity per month. Based on a...

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...

Columns

Commentaries | Apr 13, 2025

Officials Bank on Student Service to Patch a Fractured Country

The federal government will soon require one year of national service from university stud...

Editorial | Apr 13 , 2025

When the Lift Lets Users Down

Key Takeaways: Human stories, like Hiwot's and Mekdes', reveal dire safety lapses i...

Featured | Apr 6 , 2025 . By YITBAREK GETACHEW

Trenches of Tax Turmoil

Key Takeaways: Merkato's bustling trade shows signs of a slowdown, manifesting deep...

Agenda | Apr 13 , 2025 . By BEZAWIT HULUAGER

MERCATO TAXED TO SILENCE

Some parts of Merkato have fallen uncharacteristically silent, contrary to its typical bus...

Fortune News | Apr 13 , 2025