FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Regional Bank Donates Masks to Ethiopia

Jul 13 , 2020


[ssba-buttons]

The Eastern & Southern African Trade & Development Bank, aka TDB, has donated 160,000 locally manufactured face masks to healthcare workers. Ahmed Shide, minister of Finance and the country’s shareholder representative on the TDB board of governors, handed over the masks to Lia Tadesse (MD), minister of Health, during a ceremony on July 8, 2020. The Bank procured the masks from Everest Apparel Ethiopia S.C., Everest Textiles’ garment factory in Hawassa Industrial Park that employs 2,000 workers. To boost the member states’ efforts in mitigating the effects of the COVID-19 crisis, TDB has launched Covid-19 Emergency Response Programme (CERP) through which essential supplies are procured mostly from regional factories to address healthcare sector imperatives while supporting local private sector and employment, including of women and youth, according to Admassu Tadesse, president and chief executive of TBD. TDB is implementing similar interventions in 20 of its member states as part of CERP, as well as continent-wide, via a half-million-dollar grant that was extended to the African Union’s Africa Centres for Disease Control & Prevention (Africa CDC).


Radar

Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


Radar

Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


Radar

Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...