Category: Latest on Fortune

  • Washington Revokes Ethiopia Trade Privileges Effective Next Year

    The US government has terminated Ethiopia’s involvement in the African Growth & Opportunity Act (AGOA), citing “gross violations of internationally recognised human rights.” Signed into US law in 2000, AGOA permitted the duty-free entry of African produced goods. Ethiopia has been privileged to export close to 6,500 items to the US market, with an annual […]

  • Wereda Officials Shut Mercato Commercial Building, Leaving Tenants in the Cold

    City authorities have shut down a commercial centre in the country’s largest marketplace over allegations the share company that owns the building has not renewed its license. It is a decision that puts hundreds of tenants in the crossfire. Officials from the Wereda 8 Trade Bureau of the Addis Ketema District sealed the building off […]

  • Postal Services Enterprise Jumps Rental Fees by 600pc

    The Ethiopian Postal Services Enterprise (EPSE) has increased annual box rental fees by as much as 600pc, the first adjustment in 11 years. A regular mailbox at the Enterprise’s head office on Churchill Avenue has jumped to 600 Br, from 85 Br in the annual fee. The larger mailbox fee of 170 Br has increased […]

  • IMF Credit Facility Expires as Debt Rework Faces Delay

    Ethiopia’s access to a 1.5 billion dollar concessional loan facility availed by the International Monetary Fund (IMF) is set to expire this month following the inability of Ethiopian authorities to complete the country’s debt rework negotiations. It is akin to the recent move by the Export-Import Bank of China, which withheld 339 million dollars in […]