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THREADBARE TRADITIONS, WEAVING UNRAVELS FAST


The looming scarcity of essential imported materials has overshadowed traditional weaving in Addis Abeba. Weavers recall a time when Timqet festivities meant a flurry of orders in the northern outskirts of Shero Meda. They once earned at least 2,000...

Jan 19 , 2025


Fortune News

Hailu Shawel's Family Embroils in Billion-Birr Property Dispute

The family of the late Hailu Shawel, a civil engineer and a prominent opposition leader, is embroiled in a high-stakes lawsuit over assets allegedly worth billions of Birr. His widow and several child...

Jan 19 , 2025

Money Market Watch

As Brewed Buck Battles, Outliers Banks Dare, Regulators Glare, Forex Scarce

Last week's foreign exchange postings from commercial banks offered a revealing glimpse into currency market pressures. Most banks opted to keep their buying rates below the 125 Br mark, even as a han...

Jan 19 , 2025

News Analysis

Coop Bank Battles Profit Slump as Digital Vision Encounters Economic Headwinds

Cooperative Bank of Oromia (Coop Bank) finished a demanding year in 2023/24, holding on to moderate profitability and widening its presence, manifestations of the Bank's strengths and recent struggles...

Jan 19 , 2025


Latest Updates

Edible Oil Industry on the Brink as Factories Shut Down, Succumb to Foreign Competition

The edible oil industry is on the brink of collapse, with the number of fully operating factories pl...

Jan 19 , 2025


Finance Shortfalls Entangle Pharma Supplies, Distributions

Pharmaceutical manufacturers have underperformed, failing to deliver 4.1 billion Br worth of medicin...

Jan 19 , 2025


New Law Regulates Organ Donation, Restricts Gifting

A recently passed Health Service Administration & Regulation Proclamation legalises the donation...

Jan 19 , 2025








Agenda

Traditional Weaving Unravels as Chiffon Takes Over, Demands Dwindle, Costs Rise

Asamenew Arba, a weaver operating from a building housing micro enterprises near Shero Meda in northern Addis Abeba, faces severe difficulties in his trade due to the scarcity of essential imported materials like pattern threads. He says that the...

Jan 19 , 2025


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 b...

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







Editorial

Breaking the Chains to Protect the Vulnerable During Painful Reforms

Adanech Abebie, the mayor of Addis Abeba, addressed last week a warm-up session for her party's upcoming convention, urging cadres of the Prosperity Party - Prosperitians - to embrace what she described as “broad and inclusive” gains. Her asserti...

Jan 18 , 2025


Banks Struggle to Lend as Branches Bloom, Coffers Wither

A severe cash shortage squeezes the economy, and the deposit-to-loan ratio has slumped below 80pc, hitting its lowest point in decades. The scarcity of credit, often termed a credit crunch, has a strangling effect on the economy. Few businesses secure the fund...

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 resources...

Jan 4 , 2025







Exclusive Interview

"Music is a Science, We Must Respect Our Scientists"

Mulatu Astatke, the creator of Ethio Jazz, views music as a science, much like chemistry, where sounds combine to form melodies and harmonies. Mulatu's unique style blends Ethiopian musical modes with jazz, funk, Latin rhythms, and even psychedelic rock. He says that the "bottom" of his music is alw...

Jan 19 , 2025


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 includ...

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







Viewpoint

Ethiopia's Stock Market Presents Hope Despite Shadows of Past Failures

I am delighted that Ethiopia has finally inaugurated a stock market, half a century after the Addis Share Dealing platform closed. My journey in this field began in the midst of the dot-com boom, when soaring valuations and widespread speculation piqued my curiosity. I followed share prices, pored over financial newspapers, and recognised that Ethiopia lacked a modern finance cornerstone. I cha...

Jan 19 , 2025


AI Alone Won't Save the Planet

This year's annual meeting of the World Economic Forum in Davos, where participants will address the theme of "Collaboration for the Intelligent Age," comes at a critical juncture for the planet. Ecosystems are straining under the pressure of climate change, a...

Jan 18 , 2025

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 hyb...

Jan 11 , 2025


My Opinion

Social Media as It Should Be

Mathematician Cathy O'Neil once said an algorithm is nothing more than someone's opinion embedded in code. When we speak of "the algorithms" that power Facebook, X, TikTok, YouTube, or Google Search, we are talking about choices made by their owners about what information we, as users, should see. In these cases, "algorithm" is only a fancy name for an editorial line. Each outlet has a process of...

Jan 18 , 2025


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-relate...

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






Featured

New Roads Stimulate Post-Dusk Energy, Revamp Evening Scenes

Melese Gizaw, a former soldier from the Derg regime, finds himself drawn to cafes since leaving military service. He enjoys listening to music of Mohamoud Ahmed, a sound that accompanies his reflections on the past and present. Nowadays, he frequents a cafe, a popular spot for couples and others. The cafe has become a meeting point for him and his children, who come from various parts of the city, Piassa, Torhailoch, and Hayahulet, three times a week. This tradition revolves around the city's...

Jan 19 , 2025


Commentaries

Tight Monetary Policies Risk Stifling Economic Growth, Undermining Business Confidence

In a bid to curb inflation, which is still at double digits, and preserve financial stability, policymakers have implemented strict monetary measures that economists warn could dampen growth. The key components, such as benchmark interest rates, higher reserve requirements, and mandates on bond purchases, contain price increases but also threaten to dehydrate consumption and investments. An inflationary paradox is emerging, where overly tight controls slow economic momentum and job creation. ...

Jan 18 , 2025


News Analysis

Coop Bank Battles Profit Slump as Digital Vision Encounters Economic Headwinds

Cooperative Bank of Oromia (Coop Bank) finished a demanding year in 2023/24, holding on to moderate profitability and widening its presence, manifestations of the Bank's strengths and recent struggles. Around 30pc of its branches in Oromia and Amhara regional states operated below capacity due to security and economic difficulties, yet shareholders appeared to understand the external constraints. Management attributed the decline to sluggish income growth that failed to keep up with overall e...

Jan 19 , 2025


Delicate Number

3

An average of hours in a year rural households in Ethiopia spend collecting firewood, a mark of social inequities in energy access. This equals approximately 5.5 months of full-time work a year, disproportionately affecting women and children. These households depend on biomass, accounting for 72pc of energy consumption.  

Jan 19 , 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

"Historic, bold, comprehensive and coordinated."

Central Bank Governor Mamo Mihretu characterised a series of monetary policy overhauls, most notably the liberalisation of the foreign exchange regime. The reforms depart from longstanding controls, demonstrating his bid to modernise the financial sector and stimulate economic growth.



View From Arada

Roha Band Creates a Legacy Carved in Stone

Some bands define a generation and leave a lasting mark, becoming anthems for their time. The Beatles, a renowned group from the 1960s to the late 1980s, hold the record for 180 million cert...

Jan 18 , 2025




Fortune Video




Sunday With Eden

Acts of Kindness Create Lasting Legacies

A couple of weeks ago, I attended a wedding that felt like more than a union of two people. It was a moment of convergence, a celebration of love and a tribute to the enduring legacy of a dear friend who is no longer with us. The experience was an important reminder of how one person's kindness can leave a lasting impact, shaping lives even after they are gone. The wedding was small and inti...

Jan 18 , 2025


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 i...

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


Life Matters

Media Coverage of Africa Skews Towards Negativity

My recent search for news about Africa revealed a frustrating trend: an overwhelming focus on conflict, death, and tragedy. While some business stories appeared, negative reports dominated the headlines. This imbalance creates a narrow and incomplete understanding of the continent. It is not just about sensationalism; it points to a systemic issue. On major media platforms, at least three ou...

Jan 18 , 2025


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...

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





Radar

Council of Ministers Dissolves PEHA

The Council of Ministers approved a regulation that dissolves the Public Enterprises Holding & Administration (PEHA) which managed several state-owned enterprises (SOEs) for over two decades. The regulation approved last week mandates the rights and responsibilities to be transferred to the Liability Asset Management Corporation (LAMC) to enable it to continue privatization efforts, which h...

Jan 19 , 2025


Yirgalem Hospital Inaugurates New Oxygen Production Plant

A new oxygen production plant has been inaugurated at Yirgalem Hospital Medical College in Sidama Regional State. The launch was attended by the regional state's chief administrator Desta Ledamo and Health Minister Mekdes Daba (PhD). Desta noted that a new kidney dialysis centre will soon be opened as well. Mekdes stated that the Ministry is working to increase the number of oxygen production faci...

Jan 19 , 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


TRUNK T-SHIRTS

A seller and buyer discuss the price of a t-shirt from the open trunk of a parked yellow Toyota Vitz around the Bole neighbourhood. The car is filled with various garments and is part of hustles seen in Addis Abeba where vendors sell anything from eggs to solar powered flashlights from their vehicles. These mobile shops have the chance of changing locations to reach a wider customer base and avoid...

Jan 19 , 2025