Commercial Bank Reshuffles Top Brass


Ahmed Abitew, director of the state policy think tank, assumed board chairmanship of the Commercial Bank of Ethiopia, replacing Yinager Dessie (PhD), who was recently appointed governor of the National…


IMF Hails Ethiopia’s Reforms, Remains Optimistic

Despite the tough macroeconomic situation in the country, the International Monetary Fund team projected that the gross domestic product (GDP) of Ethiopia would grow by 8.5pc in the 2018/19 fiscal…


Ethics Commission to Oversee Liaison Officers

The government is drafting a new bill that mandates ethics liaison officers at government institutions to directly report to the Federal Ethics & Anti-Corruption Commission. Established a decade ago, ethics…


Central Bank Bumps-up Board Remuneration Caps

The National Bank of Ethiopia has raised the cap on remuneration for board directors at banks, insurance companies and microfinance institutions. The new directive signed by the new governor, Yinager…


Antex Weaves its Way into Adama Industrial Park

Antex Groups, a Chinese textile manufacturing company, has become one of the first firms to enter the Adama Industrial Park. Following a September 2017 agreement with the Ethiopian Investment Commission,…


Authority Lifts Fines on Diaspora with Expired Visas

The government has exempted Ethiopian diaspora from fines imposed when they overstay their visits to the country. Two weeks ago the Main Department for Immigration & Nationality Affairs, which operates…


Reshuffle Visits Fire, Emergency Prevention Authority

Deputy Mayor Takele Uma assigned Commander Ahmed Mohammed to head the Addis Abeba City Administration Fire & Emergency Prevention & Rescue Authority, replacing Amanuel Redda (Com). The new assignment, effective…


Transport Authority Joins E-Service Platform

The Federal Transport Authority joined the Ethiopian e-Services system, a government platform for online services, by placing over half of its services online last week. The Authority took 18 of…


For the Horn and Beyond

Foreign Affairs Minister Worqneh Gebeyehu (PhD), foreground, met his counterparts, Djibouti’s Mahmoud Ali Youssouf (far left) and Eritrea’s Osman Saleh Mohammed (centre-left), last week at Ethiopia’s Mission in New York.…


Holiday of Bonfires

Mired in political tensions, Ethiopians across the country celebrated Mesqel on Thursday, September 27, 2018, the annual festival of the faithful believe is the finding of the true holy cross…


Peace Dividend

Samson Redae, 45, is unloading sacks of garments brought from Asmara, Eritrea, to Adigrat, a town located about 38Km inland from the border area in Ethiopia. He is one of…


Planners to Bless Mega Projects Before Kickoff

The government has devised a new procedure to allow all upcoming mega projects to commence only after obtaining approvals from the National Planning Commission. Planned project owners of government institutions…


Ministry Formalises Steel Structure Work Operations

The Construction Ministry added companies that engage in steel structure related work to a list that requires certification of competence as a prerequisite to obtaining business licenses. The cabinet of…


Board Compels PLCs Adopt Accounting Standards

Within a year, the government will compel private limited companies to adopt the International Financial Reporting System (IFRS), a set of accounting standards that provide a common global language for…


Nation Greets its 12th Steel Mill

After opening in Dukem this past week, EKOS Steel Mill became the nation’s 12th steel mill. Owned by five South Korean investors, the company will manufacture reinforcement steel bars and…


Small Businesses Graduate to Medium Enterprise Status

The Addiss Abeba Micro & Small Enterprise Bureau of the City Administration certified 208 micro and small business enterprises operating in 10 Districts to medium enterprises last week. This certification…


Mulegeta Becomes Bunna’s Fourth President

Mulegeta Alemayehu, former vice president of Commercial Bank of Ethiopia, has become the fourth president of Bunna Bank effective September 12, 2018, following in the footsteps of Tadesse Chinkel, Eshetu…


Classy Water Courts Controversy, Ceases Production

Classy Water, bottled by Belay Industrial Plc, has been shut down by the authorities due to water quality issues. A cease and desist order was issued against the bottler on…


City Sets Deadline to Register Street Vendors

The city has set a closing date for the registration of informal businesses with the Addis Abeba Trade Bureau as thousands are left unregistered. Street vendors have until November 10,…


Ex-CBE Executive Takes Helm at Bunna Bank

Regulators at the National Bank of Ethiopia (NBE) have approved the appointment of Mulugeta Alemayehu, former vice president of the state owned Commercial Bank of Ethiopia (CBE) as the new…


Show of Force

In keeping with a long line of opposition parties returning home, the leadership of the Oromo Liberation Front (OLF) touched ground in Addis Abeba on Saturday, September 15, 2018. Led…


DONE DEAL

Ethiopia hosted the 33rd extraordinary summit of the Intergovernmental Authority on Development (IGAD) on Wednesday, September 12, 2018. It was attended by the heads of state of Djibouti, Uganda, South…


Ethio-Eritrean Border Re-opening Fuels Trade

Following the normalisation of Ethio-Eritrean relations and reopening of the border, business activities at the boundary towns are flourishing after two decades of standoff. Major trading activities have been taking…


Nation’s First Drone Soars High

The Ministry of Science & Technology has successfully launched its first drone, carrying cargo weighing five kilograms and flying at 5,000m altitude. The Ministry invested four million Birr in the…


Ministry Fast-tracks Manufacture of Medical Equipment

The Ministry of Science & Technology is planning to initiate manufacturing of medical equipment in six months and a national steering committee has been formed to implement the plan. The…




Editorial

With a reformist administration in charge of the executive, there has b...


Agenda

The new electricity tariffs that became effective on December 1, 2018,...


Fineline

Who it is that midwifed the rapprochement between E...


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Commentary

Ethiopia’s economy is at a crossroads. The same old advice will not s...


Viewpoint

A recent photo between Prime Minister Abiy Ahmed (PhD) and George Soros...


Opinion

The future is bleak. Millennials and younger generations who will inher...


View From Arada

There is heated debate on the propriety, decency and morality of breast...




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