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Radar

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...

Dec 8 , 2024

Siket Bank Doubles Profit, Attains Regulators Threshold

Siket Bank announced impressive financial results, with a net profit of 1.54 billion Br, representing a 50pc surge from the preceding year. The bank's paid-up capital witnessed a 25pc increase, reachi...

Dec 8 , 2024

Lion Thrives Through Challenges, More Than Doubles Profit

Total comprehensive profit reached 754.7 million Br, a 63pc growth from the previous year for Lion International Bank. The 18-year-old bank held its general assembly last week at the Skylight Hotel on...

Dec 8 , 2024

Parks Gain SEZ Status Set for Tax Breaks, Incentives

Ten of the 13 industrial parks managed by the Industrial Parks Development Corporation (IPDC) have been officially designated as Special Economic Zones (SEZs) by the Ethiopian Investment Commission. T...

Dec 8 , 2024

Parliament Passes Sweeping Real Estate Law to Regulate Distressed Property Market

Federal legislators have passed a landmark real estate law imposing strict regulations on property valuations and market practices, pledging to protect buyers and bring clarity to the otherwise distre...

Dec 8 , 2024

Wealth Fund Shakes Up State Asset

Ethiopia's sovereign wealth fund has expanded its portfolio, incorporating a number of state-owned enterprises, bringing together 40 companies. Under the Ethiopian Investment Holdings' (EIH) manage...

Dec 1 , 2024

Customs Commission Sets Another Franco Valuta Deadline

The Ethiopian Customs Commission has given importers who used the franco valuta system up to December 26 to finalize the import of their goods. This pertains only to importers who purchased the mercha...

Dec 1 , 2024

National ID Strides Further to Mandatory Field

The National Bank of Ethiopia issued a notice to all banks mandating the use of the National ID for new bank account openings starting January 1, 2025, for branches in Addis Abeba while the same will...

Dec 1 , 2024

Hibret Climbs Further Profit Heights

Hibret Bank posted a surge in net profits to reach 2.3 billion Br, traversing economic adversities. The Bank grew its revenues to 13.23 billion Br—an increase of 28.1pc from the previous year. Total...

Dec 1 , 2024

IMF Nears Approval of $251m Loan to Ethiopia

The International Monetary Fund (IMF) is close to approving a 251-million-dollar loan to Ethiopia, applauding "progress in the economic reforms," which saw the exchange rate shift toward a market-dete...

Dec 1 , 2024

Nib Faces Liquidity Storm, Weak Governance

Nib International Bank registered a net profit of 957.9 million Br in the year, declining by 549 million Br and 36pc from the previous year. However, the Bank made a comeback in paid-up capital regist...

Dec 1 , 2024

Central Bank Notes Rising Risks in Banking Sector

The National Bank of Ethiopia (NBE) released its second financial report last week, noting rising risks in the banking sector stemming from local and external factors. The report assessed the banking...

Dec 1 , 2024

Chamber Flaunts Forex Turnaround, Liquidity Issues Hover

The National Bank of Ethiopia (NBE) reported a significant increase in the dollar reserves of commercial banks, from a deficit of 465 million dollars to a surplus of 600 million dollars between the fi...

Nov 24 , 2024

Standing Committee First Visit to Private Foreign Firm Garners New Era

Safaricom Ethiopia stated that it has become the first private foreign company to host a visit by a standing committee from the House of People's Representatives, with the Democracy Affairs Standing C...

Nov 24 , 2024

Goh Mortgage Bank Registers 12-fold Gross Profit Increase

Goh Mortgage Bank reported gross profits of 83.4 million Br, a twelve-fold increase from last year's 6.4 million Br. At its general assembly last week, the bank announced total deposits of 1.02 billio...

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