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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 w...

Jan 5 , 2025


Fortune News

Pharma Supplier to Build 100 Million Dollar Automated Warehouse

The Ethiopian Pharmaceutical Supply Service (EPSS) plans to construct a 100 million dollars mega warehouse in a bid to modernise and centralise its pharmaceutical storage and distribution. The project...

Jan 5 , 2025

Money Market Watch

Forex Moves Test Market Boundaries While Caution Casts a Long Shadow

Last week, the foreign exchange market provided a window into the persistent tussle between policy objectives and market forces. An outlier emerged in Tsehay Bank, which decisively pushed past the 12...

Jan 5 , 2025

News Analysis

Oromia Bank's Expansion Brings Big Plans, Bigger Costs, Shrinking Profits

Oromia Bank entered its 2023/24 financial year with cautious optimism but delivered a mixed performance as moderate asset growth and deposit gains were tempered by a steep decline in profitability. Th...

Dec 29 , 2024


Latest Updates

Ethio telecom Expansion Stalls Over Funding, Land Costs

Ethio telecom's ambitious plan to expand infrastructure and improve rural connectivity is facing maj...

Jan 5 , 2025


Traffic Management Overhaul Digitises Fines, Parking Fees

City transport authorities have launched a new digital traffic management system that has already re...

Jan 5 , 2025


Earthquake Displaces Thousands, Threatens Kessem Dam

A series of increasingly powerful earthquakes have struck the Afar, Amhara, and Oromia regions, dama...

Jan 5 , 2025








Agenda

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 and hat to cover the inferno, he paces around with 1,000 Br in his pocket, expecting to sec...

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


Fuel Supply Halts as Parallel Market, EV Push Leave Regions, Investors in the Lurch

Africa Oil Plc has five of its stations denied fuel supply by the Ethiopian Petroleum Supply Enterprise (EPSE). The company had requested over a million litres...

Dec 22 , 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

What are the BRICS Good For?

One question that 2025 may begin to answer is whether the BRICS (Brazil, Russia, India, China, South Africa) is becoming the new centre of power in world politics. Now that the group has added new members (Egypt, Ethiopia, Iran, and the United Arab Emirates) and come to represent 45pc of the world population, some believe that it is consolidating the (misleadingly named) "Global South" and posing...

Jan 5 , 2025


Fintech's Blind Spot in Unlocking the Potential for Universal Inclusion

The world has made remarkable progress in advancing financial inclusion in recent years. In the decade beginning in 2011, the share of adults with access to financial services rose a whopping 50pc, to more than three-quarters. But, we still have a long way to...

Jan 5 , 2025

What are the BRICS Good For?

One question that 2025 may begin to answer is whether the BRICS (Brazil, Russia, India, China, South Africa) is becoming the new centre of power in world politics. Now that the group has added new members (Egypt, Ethiopia, Iran, and the United Arab Emirates) a...

Jan 4 , 2025


My Opinion

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 halt, forcing billions of people into unprecedented lockdowns and shuttering economies worldwide. Five years on, we are still tussling with t...

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

Universal Human Rights Should Prevail Over Sovereignty's Fragile Facade

The United Nations Convention on Refugees clearly excludes individuals who have committed crimes against humanity from the protections generally afforded to refugees. Article 1F of 1951 stands as a moral and legal guardrail, a direct response to the atrocities...

Dec 21 , 2024






Featured

Christmas Rush Drives Exhibition Boom, Economic Uncertainty Looms

Bazaars and exhibitions are springing up across Addis Abeba, tapping into the festive Christmas shopping season. The Addis Abeba Exhibition Centre is hosting a large Christmas event organised by Robust Business Group, featuring over 500 vendors eager to capitalise on the holiday rush. Telebirr is the event's title sponsor and the exclusive payment method for entry. Initially priced at 100 Br, entrance fees have doubled to 200 Br in the final week leading up to Christmas Eve. Over 20 Telebirr...

Jan 4 , 2025


Commentaries

The Urgency of Global Debt Reform

High debt levels are once again setting off alarm bells around the world. In developed countries, attention is focused on the rapid increase in public debt, while developing economies are struggling to service their external obligations amid slowing growth and stagnating exports. Despite their current challenges, most analysts believe that developed economies will avoid a full-blown crisis, owing to their ability to issue debt in their currencies and implement targeted fiscal and monetary mea...

Jan 5 , 2025


News Analysis

Oromia Bank's Expansion Brings Big Plans, Bigger Costs, Shrinking Profits

Oromia Bank entered its 2023/24 financial year with cautious optimism but delivered a mixed performance as moderate asset growth and deposit gains were tempered by a steep decline in profitability. The Bank's leadership, led by Teferi Mekonnen, attributed much of the strain on the balance sheet to fast-paced branch expansion and human capital investments. These steps, intended to extend the Bank's footprint across urban and remote areas, led to higher costs that pressed down on margins and overa...

Dec 29 , 2024


Delicate Number

36

Tax revenues in dollars federal authorities have set their sights on collecting by 2029, under a 10-year plan unveiled in 2021. Central to this ambition is nearly doubling the tax-to-GDP ratio, from 9.2pc in 2019/20, a daunting task by global standards.  

Jan 4 , 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

"Despite the noise . . ."

Eyob Tekalegn (PhD), state minister for Finance, told the Financial Times last week that the administration is pressing ahead with a raft of economic reforms, including the decision to float the Birr. Since the foreign exchange market was liberalised in July 2024, the Brewed Buck has depreciated by over 110pc against the Dollar.



View From Arada

A Pinch of Music, Tragedy, Tech Shifts

I would rank December as one of the best months in 2024. I may be biased by the fact that it was a vacation time for me, enjoying exciting travels during the Christmas season, and finally ta...

Jan 4 , 2025




Fortune Video




Sunday With Eden

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 speech was full of wisdom. As he was leaving the meeting hall surrounded by security, I called his name from my back seat, expecting that he w...

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

Overcoming Emotional Impulses in Decision-Making

Have you ever made a split-second decision and later wondered, "What was I thinking?" Perhaps it was a reaction to anger, frustration, excitement, or sadness. We have all been there. The heat of the moment can distort reality, leading to choices we later regre...

Dec 21 , 2024


Life Matters

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 my kids. This four-year-old girl, though endearing in many ways, has a penchant for physical aggression and surprisingly harsh verbal out...

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

Inadequate Regulation Leaves Tenants Vulnerable to Arbitrary Rental Hikes

The rental market in Ethiopia, like in many developing economies, is characterised by a complex mix of legal frameworks, socio-economic realities, and informal practices. While legislation exists to protect tenants from arbitrary rent hikes, the practical real...

Dec 21 , 2024





Radar

ZamZam Bank Charts Growth with Interest-Free Banking

ZamZam Bank closed the fiscal year with a net profit 110.3 million Br, an increase of 55.95 million Br or 103pc year-over-year. This followed income reaching 857.9 million Br, against expenses of 710.2 million Br. The Bank's income surged by 93pc, while expenses increased by 42pc. The Bank's financing and investment portfolio reached 4.63 billion Br, a 25pc increase compared to the previous year....

Jan 4 , 2025


Tech Expo to Spotlight Digital Future, Emerging Technologies

An expo set on capitalizing on Business Process Outsourcing (BPO)—Future Tech Addis Expo 2025—is set to take place at Skylight Hotel in February. Organized by RCNDC Consultancy in partnership with the ministries of Education and Innovation & Technology, the expo seeks to demonstrate technology's role in driving socio-economic development, featuring exhibitions of the latest tech advancemen...

Jan 4 , 2025

In Picture

SINO SANDWICH

A multiple-vehicle traffic accident around “Temenja Yazh,” on A1 St, formerly Debre Zeit St, damages railway infrastructure alongside two cars and two dump trucks. Officially named the China National Heavy Duty Truck Group Co., Ltd. (CNHTC), the ubiquitous red trucks are commonly known as Sinotruk. Headquartered in Shandong province, the major Chinese state-owned truck manufacturer produce...

Dec 29 , 2024


PATHWAY PILEUP

A large pile of tree branches and foliage, recently cut down, is blocking the pedestrian pathway on A1 St., forcing people to walk on the road and increasing the risk of accidents. Urban planning and maintenance efforts are critical to ensure that pedestrian pathways remain clear and safe for use. The city administration has been working on improving sidewalks and road networks as part of corridor...

Jan 5 , 2025