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



Shared Power Bank Rental Service Launched


Shared Power Bank Rental Service Launched

MyCharge Technology PLC officially launched its shared power bank rental service at the Hyatt Regency Hotel on May 30, 2025, under the theme Powering Digital Ethiopia. Founded by DDF Group, the company offers a mobile app-based solution that allows users to rent power banks by scanning a QR code, use them on the go, and return them at any station. Since its soft launch, MyCharge has gained over 5,000 users and set up more than 60 locations across Addis Abeba. MyCharge stations also function as digital advertising screens, offering marketing opportunities at events and public spaces. The company has introduced a franchise model to expand its network and plans to reach 150 stations by the end of the year, with a broader national rollout in sight. It is also preparing to enter the electric vehicle charging market. As part of its “rent one, donate one” initiative, MyCharge donates one birr from every hour-long rental to charity, linking its services to a social impact model.

[ssba-buttons]

Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...