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Nov 16 , 2024

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging...

Nov 16 , 2024

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicl...

Nov 16 , 2024

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. Th...

Nov 16 , 2024

New Solar Power Plant Lights up in Somali Region

Ethiopian Electric Utility inaugurated a solar power plant in the town of Beqolmayo, Somali Regional State. The plant can generate 2.5 MW of electricity, enough to power 43,542 residents. The project...

Nov 16 , 2024

Telco Introduces Sheger Smart Parking System

Ethio Telecom has implemented a modern smart parking system in Sheger city, aiming to enhance urban mobility and efficiency. The smart parking system, launched in collaboration with the Oromia Regiona...

Nov 16 , 2024

Customs Revises EV Import Tariffs

The Ethiopian Customs Commission (ECC) has implemented revised import taxes to bolster domestic businesses and decrease reliance on imported products. Imported electric vehicles (EVs) now face higher...

Nov 16 , 2024

EthSwitch Registers High Profits, Battles the Tax Disputes

The national switch operator has reported 1.06 billion Br in gross profit, a growth of 97pc from last year with earnings per share climbing to 73.7pc. Executives of EthSwitch, an industry-wide payment...

Nov 9 , 2024

Parliament Nods Loan Agreement with South Sudan

In a parliamentary session last week, MPs approved a 738-million-dollar loan agreement with South Sudan. The federal body ratified the proposed bill which looks to establish road infrastructure linkin...

Nov 9 , 2024

AfCFTA Strides, National Implementations Fall Behind

The 15th Council of Ministers Meeting of the African Continental Free Trade Area (AfCFTA) convened in Addis Abeba last week, bringing together stakeholders to discuss boosting trade integration and su...

Nov 9 , 2024

MOENCO Moves to Control BYD Ethiopia Presence

MOENCO, a subsidiary of Inchcape Plc, has partnered with BYD to become the official distributor of the latter's electric and hybrid vehicles in Ethiopia. This is Inchcape's third partnership with BYD...

Nov 9 , 2024

Textile and Leather Fashion Convene at ASFW

The 10th annual Africa Sourcing and Fashion Week (ASFW) opened its doors last week at the Skylight Hotel on Africa Avenue, bringing together textile, fashion, and leather industries from across the co...

Nov 9 , 2024

Tulu Kapi Gold Project Opens Investment to Ethiopian Nationals

KEFI Gold and Copper PLC, a UK-listed exploration and development company, announced it has secured 470 million dollars of the 500 million dollars required to finance its Tulu Kapi Gold Project, appro...

Nov 9 , 2024

Hibret Insurance Celebrates 30 Years with Soaring Profits

Hibret Insurance reported a gross written premium of 1.96 billion Br for the fiscal year, a 23.72pc increase from the previous period. Established in 1994 and celebrating 30 years of operations, the i...

Nov 3 , 2024

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as...

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is...

Nov 3 , 2024

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increase...

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