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 Endows Ethiopia with $1m

May 25 , 2019


[ssba-buttons]

Sustainable Energy Fund for Africa, a trust fund administered by the Africa Development Bank (AfDB), gave a grant of one million dollars to upgrade the procurement framework for independent power producers in Ethiopia. The grant, approved on May 17, 2019, is expected to improve the government’s capacity to undertake feasibility assessments of hydropower projects. It will also provide environmental and social impact assessments, resettlement action plans and preparation of bidding documents for hydropower projects. “A well-structured procurement framework is important in mobilising the investments necessary to achieve universal energy access in Africa,” said Wale Shonibare, AfDB acting vice president for power, energy, climate change & green growth. Ethiopia plans to create universal access plans to create new grid access for 8.2 million people and the distribution of power for six million new households from off-grid solar projects by 2025.


Radar

MIDROC Picks Austrian Firm for Metekel Plant Machinery

MIDROC Gold Mining has contracted Austria-based CEMTEC (Cement & Mining Technology GmbH) to supply and install equipment for a new gold processing plant in Metekel Zone, Benishangul-Gumuz Regional State. Designed to process up to 1.25 million tn of gold-bearing ore a year, the facility is part of MIDROC's expansion in the area. Under the agreement, CEMTEC will manufacture the plant's key processing machinery and install it at the MIDROC Metekel Gold Plant. The equipment is scheduled for c...


Radar

Food Prices Push Inflation to 15.3pc

Ethiopia's inflation rate rose to 15.3pc in July 2026 from 13.7pc in the same month last year, reaching its highest level in the 13-month period covered by Ethiopian Statistics Service data. Food and non-alcoholic beverages exerted the greatest pressure on consumer prices, with inflation reaching 15.7pc. The increase was driven largely by higher prices for vegetables, meat, dairy products and eggs, fruit, oil and butter, sugar, honey and chocolate, bread and injera. Sugar, honey and chocol...


Radar

State Enterprises Post Revenue Gains in EIH Review

Ethiopian Investment Holdings (EIH) concluded the fourth day of its 2025/26 EFY Annual Performance Dialogue at its headquarters, reviewing key state-owned enterprises overseen by Deputy CEO Habtamu Hailemichael. The dialogue began on August 24, 2026, with the Development Bank of Ethiopia recording a 60pc increase in operating income to 15.9 billion Br. Despite structural and operational difficulties, Ethiopian Mineral Corporation reported year-on-year revenue growth of 48pc to 5.7 billion dol...