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 State Arrests More Suspects Under Tiret Case

Feb 2 , 2019


[ssba-buttons]

The Amhara Anti-Corruption Commission has brought five more suspects before the court, accusing them of involvement in corruption at Tiret Corporate. Three founders of Alpalma S.C, Eyerusalem Birhanu, Bethlehem Birhanu and Aynalem Haileleul; Gizachew Zewdu, founder of Bahir Dar Motors; and Mitiku Beyene, deputy CEO of Ambassel Trading House Plc, were arrested last week and appeared before the Regional High Court in Bahir Dar. The investigators have requested the court hold the suspects in custody for 14 days while they continue their probe, and the case was adjourned until early this week. Two weeks ago the Commission brought Bereket Simon, founding board chairperson of Tiret Corporate, and Tadesse Kassa, former CEO, before the court accused of allegedly misusing 35 million Br of public money. The Court had similarly granted investigators hold the suspects in custody for 14 additional days while they conduct their probes.


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...