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Wegagen Bank Casts First Stone in Securities Exchange Pond


Wegagen Bank, lined up to become the first company to list on the newly launched Ethiopian Securities Exchange (ESX), has cleared a key milestone in its quest to go public. On January 10, the Bank registered with the Ethiopian Capital Market Authorit...

Jan 12 , 2025


Fortune News

Illegal Trade Threatens Export, Tobacco, Pharma Industries

Ethiopia's key industries are battling the contraband trade. Leaders from tobacco, coffee, livestock, and pharmaceutical sectors have called for urgent government intervention to combat the threat. ...

Jan 12 , 2025

Money Market Watch

Tsehays Dollar Dash, CBEs Poker Face, a Forex Market Dancing on Edge

The Brewed Buck's relentless downward drift against a basket of major currencies showed little sign of slowing as the new year began last week. The Birr's value against the Dollar was kept under 1...

Jan 12 , 2025

News Analysis

Hijra Bank's Leap of Faith in Soaring Profits Soar as the Industry Tests Newcomers

Hijra Bank's year-end financial report for last year reveals a noteworthy leap in profitability, with a net profit climbing more than four times its previous year's record. Industry observers, aware t...

Jan 12 , 2025


Latest Updates

Alleged Shareholder Sues Sunpay, Demands Dissolution

An alleged shareholder of Sunpay Solutions S.C., Bruck Fikre, has filed a lawsuit seeking the recove...

Jan 12 , 2025


Plastic Ban Fuels Environmental Hope, But Bagging Trouble

Plastic manufacturers are pushing back against a bill banning single-use plastic bags, warning i...

Jan 12 , 2025


Federal Judge Suspends Addis Chamber's Assembly as Leadership Dispute Intensifies

An abrupt legal dispute has thrust the Addis Abeba Chamber of Commerce & Sectoral Associatio...

Jan 12 , 2025








Agenda

Leather Industry Falters, Quality Declines, Factories Shutter

Daniel Megersa, a butcher in Addis Abeba's northern Asko area, has watched his in-home slaughtering business decline sharply in recent years. Once overwhelmed by customer calls during holidays like Genna (Christmas), Daniel now faces dwindling demand...

Jan 12 , 2025


Depressed Buyers, Burdened Vendors as Stagflation Dulls Christmas Holiday

The blistering sun barely bothered 60-year-old Alemneh Eshetu as he strolls from one vendor to another looking to buy an affordable chicken. With his red coat a...

Jan 5 , 2025


Escaping Underemployment, Facing Low Wages at Home, Scam Factories in Myanmar

Shikur Naser, a 25-year-old civil engineering graduate, left for Bangkok, Thailand, in September 2023, hoping to land a job in digital marketing. Born in Tor...

Dec 29 , 2024







Editorial

The Year That Falls Short in Lofty Ambitions, Brittle Realities

Time seldom passes without prompting reflection, and the dawn of 2025 should nudge Ethiopians into contemplating their trajectory as the first quarter of the 21st Century closes. This vast country of over 100 million people, endowed with abundant...

Jan 4 , 2025


The Bureaucrats Turn to Masters of Misrule, Architects of Uncertainty

On a flight between Juba and Addis Abeba, Stefan Dercon, a professor of economic policy and former chief economist at Britain's Department for International Development (DfID), penned a forward to a book, “Deals & Development: The Political Dynamics of G...

Dec 28 , 2024

Addis Abeba's Gleaming Facade Masks a Parched Metropolis

The main avenues and thoroughfares of Addis Abeba have undergone an impressive facelift that is a source of marvel to visitors more so than its residents. Adopting a greyish colour — a bizarre choice of its leaders - its roads now have separate lanes for mot...

Dec 21 , 2024







Exclusive Interview

Turning Pages, Breaking Barrier

Ten entrepreneurs reveal the ups and downs of building businesses. From turning coffee waste into oil products to digitizing traditional equb, they share how personal experiences, local problems, and ideas shaped their startups. Their toughest obstacles include lack of funding and skepticism from cl...

Jan 5 , 2025


SOMICK'S LENS

Sewmehon Yismaw, known affectionately as "Somick," is a filmmaker who describes his life as a mystery he would personally direct. He speaks proudly of his childhood, recounting how his gift for storytelling was nurtured by a local figure, Taju, who would tell...

Jan 5 , 2025

State Enterprises from Oracles to Apprentices

Charged with transforming colossal state-owned enterprises into modern and competitive powerhouses, the sovereign wealth manager, Ethiopian Investment Holdings (EIH), is at a defining moment. At the helm is Brook Taye (PhD), its third CEO since its founding in...

Dec 22 , 2024







Viewpoint

Impact Investing Bridges Ethiopia's Poverty Gap, Profit Divide

Impact investment appears to have gained traction in Ethiopia as a strategy, addressing the country's social and environmental issues while pursuing financial returns. In a place where poverty, food insecurity, and climate vulnerability remain urgent, this hybrid approach presents a path for delivering economic growth and lasting societal benefits. By channelling capital toward ventures seeking to...

Jan 12 , 2025


Subsistence Is Not Enough

In 1990, more than one-third of the global population lived below the World Bank's extreme poverty line (2.15 dollars a day). Since then, the share has fallen below 10pc, a remarkable and inspiring achievement. But barely scraping by falls far short of what im...

Jan 12 , 2025

Mandatory Membership Plan Sparks Dispute Over Metropolitan Chamber's Autonomy

The Addis Abeba Chamber of Commerce, long regarded as a rare pillar of the private sector, is bracing for a general assembly in less than two weeks, an event that could redefine the institution's identity and the degree to which it can speak freely for the cit...

Jan 5 , 2025


My Opinion

Closing the AI Skills Gap in 2025

With artificial intelligence (AI) poised to reshape industries worldwide, a paradox is emerging. Despite growing demand for people with the knowledge to leverage the technology's potential, AI-related skills remain in short supply. The scarcity of AI-related skills – from proficiency in machine learning, prompt engineering, and data science to understanding AI's ethical implications – is be...

Jan 11 , 2025


COVIDs Lessons Have All Been Forgotten

In December 2019, as the world was looking ahead to a new year, a novel virus was quietly spreading in China, having most likely made the leap from animals to humans in a Wuhan “wet market.” Soon, the COVID-19 pandemic would bring the world to a grinding h...

Jan 4 , 2025

Good Growth Requires Getting Public-Private Partnerships Right

The United Kingdom's (UK) Labour government has given serious thought to the public investment needed to get the economy back on track after 14 years of austerity, neglect of social infrastructure, and capital flight triggered by Brexit and uncertain economic...

Dec 28 , 2024






Featured

Paper Bag Industry Thrives, Plastic Ban Looms

Bethelhem Dejene has noticed a growing demand for paper bags. After completing a contracted project, she decided to continue producing paper bags with the same team. As the founder and CEO of Zafree Papers Plc, a company producing tree-free paper pulp from agricultural waste, Bethelhem plans to begin paper bag production this month. The company also plans to establish a factory within two years, requiring an investment of five million Birr. The paper bag market is booming, driven by a draf...

Jan 12 , 2025


Commentaries

Tariffs Protectionism's False Promises

The world economy awaits with dread the arrival of Donald Trump's trade tariffs. Trump clearly loves import duties and has promised to raise them for goods from China, Europe, Mexico, and even Canada. How much havoc this will wreak depends not just on the tariffs' scope and magnitude, but also on the purpose to which they are put. Economists dislike tariffs for a variety of reasons. Like all barriers to market exchanges, they create inefficiency. They prevent selling something of value more t...

Jan 11 , 2025


News Analysis

Hijra Bank's Leap of Faith in Soaring Profits Soar as the Industry Tests Newcomers

Hijra Bank's year-end financial report for last year reveals a noteworthy leap in profitability, with a net profit climbing more than four times its previous year's record. Industry observers, aware that a relatively small baseline can inflate year-on-year gains, nevertheless see evidence of progress in cost containment and resource mobilisation. In its financial year 2023/24, Hijra Bank posted a profit after tax of a little over 100 million Br. Its net profit margin on total assets reached ...

Jan 12 , 2025


Delicate Number

364

The volume of capital mobilised in Birr from 23 new investment projects operationalised during the fourth quarter of 2023/24. Although the projects' number registered a 91.7pc growth compared to the same period the previous year, it plummeted by 86.2pc in the value of cumulative investment capital. The mismatch could show a surge in low-capital or micro-scale ventures dominating the market, possibly due to tightened credit conditions or risk aversion among larger investors.

Jan 12 , 2025


Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the media, showcasing what polling stations will look like during the upcoming national elections; and they took the...

Oct 3 , 2020


Verbatim

"It'll be completed within a year."

Abdulhakim Mulu (PhD), state minister for Trade & Regional Integration (MoTRI), announced last week that the federal government would fully phase out its longstanding fuel subsidies. Despite hiking retail prices by 10pc last week, a rise that pushed the cost of a litre of benzene beyond the 100 Br mark, federal authorities continued to spend around 300 billion Br subsidising the import and distribution of petroleum products.



View From Arada

A Journey Down Meory Lane, Alumni Reunion

When a couple of old elementary school friends started chatting on WhatsApp, I was curious but unsure what they were planning. Soon, they created a group named after our elementary school an...

Jan 11 , 2025




Fortune Video




Sunday With Eden

Pride Overpowers Empathy, Civility

Last weekend, my family and I set out for a simple visit to relatives in the Old Airport neighbourhood. What should have been a routine trip quickly turned into a harsh reminder of the decline in civility and respect within the society. The incident began innocently enough. As we parked near our relative's home, a man in another car reversed recklessly, nearly hitting a family member who had co...

Jan 12 , 2025


A Brief Encounter Turned to a Lifetime of Inspiration

Reading about Jimmy Carter, the 39th President of the United States, left a lasting impact on me in law school. Then, I had the privilege of attending a conference with him at the Economic Commission for Africa (ECA) compound when I was 21 years old. His speec...

Jan 4 , 2025

A Journey Through Nature, Culture, History

Two weeks ago, my family, toddler, and I flew to Arba Minch for a few days. Nestled in the lush landscapes of southern Ethiopia, our vacation was a serene retreat from the hustle and bustle of daily life. The trip was a unique experience for all of us. It w...

Dec 28 , 2024


Life Matters

The Burden of Beauty, Pressure for Perfection

Ethiopia's kaleidoscope of skin tones reflects its rich diversity. Complexion varies not just between individuals but often within the same person. Many, myself included, grapple with uneven skin tone, a frustrating reality where the color of the face differs noticeably from the rest of the body. This is not merely a cosmetic issue; it deeply affects self-perception and confidence. My struggle...

Jan 12 , 2025


Raising Children Takes a Village

Parenting is a journey, filled with unexpected challenges and moments of reckoning. Recently, I found myself confronting a dilemma that tested my patience and principles on how to address the troubling behavior of a neighborhood child who regularly plays with...

Jan 4 , 2025

When Appearance Dictates Respect, Attention

A casual Friday conversation with my friend revealed a disheartening truth about workplace dynamics and societal expectations surrounding clothing. She recounted how her colleagues' behavior shifted dramatically depending on her attire. Colleagues who regularl...

Dec 28 , 2024





Radar

GERD Faces 80bn Br Funding Gap, Nears Completion

The Grand Ethiopian Renaissance Dam (GERD), a 5,150MW hydropower project, requires an additional 80 billion Br, one-third of its 2024 revised cost of 240 billion Br. The dam has reached 97.6pc completion. The dam began in April 2011 with an estimated budget of 80 billion Br. “The civil construction is complete, but the electromechanical work remains unfinished,” said Solomon Daniel, pub...

Jan 12 , 2025


Authority Enacts EV Charging Stations Directive

A new directive setting technical standards, licensing requirements, and safety measures for electric vehicle (EV) charging stations has been approved. Created by the Petroleum & Energy Authority (PEA), it aims to ensure the quality of energy supply and the safety of charging stations and accelerate the adoption of EVs. The directive outlines service provision regulations, including technic...

Jan 12 , 2025

In Picture

EMERALD BITES

It is chickpea pod season in Addis Abeba, a time when residents enjoy "Eshet," a favorite green nibble with roots in local households. Available from November to January, market-oriented production of these nutritious pods (rich in protein, antioxidants, and fiber) is a recent development. As a major chickpea producer (contributing about 17pc globally), Ethiopia benefits from this dual-purpose cro...

Jan 12 , 2025


PHANTOM PUMPS

While modern fuel stations with glass partitions are appearing in Addis Abeba, a contrasting reality that suspends fuel supply to new stations unfolds, citing national policy to reduce fuel imports and promote electric vehicle adoption. According to Ethiopian Petroleum Supply Enterprise (EPSE), this comes as the country intends to decrease fuel import expenditure by four percent this year, and tra...

Jan 12 , 2025