Former Dam Chief Back in Driver’s Seat


Kifle Horo, former head of the Grand Ethiopian Renaissance Dam, has been named the new chief engineer of the project, replacing the position held by the deceased Simegnew Bekele. Ethiopian…


Dedicated Talent Academy Crops up in Burayu

The government announced that the first talent youth academy for tech-savvy, math and science enthusiasts will be established in Burayu town, Oromia Regional State. The 1.1-billion-Br academy will occupy 7.2ht…


Oldest University Set to Curb Plagiarism

Three local software companies are competing for a bid to supply, install and commission plagiarism checking software at the oldest university, which has faced problems with duplication of research work…


Nahoo Launches First Shopping Channel

Nahoo Television has begun broadcasting the nation’s first shopping channel, mainly devoted to commercials, presentations and demonstrations of products. Nahoo invested 20 million Br in the channel, Mazesha Zone. The…


Censorship Over for Theaters, Films: Producers Rejoice

The Addis Abeba Bureau of Culture & Tourism lifted censorship of film and theatre productions effective October 5, 2018, stating that it is “conceding to the constitution”. The censorship was…


Finance Ministry Integrates Financial Systems Across Institutions

The Ministry of Finance & Economic Cooperation will launch an integrated financial management system in 125 federal institutions this fiscal year. Costing 29 million Br, the Finance Ministry expects the…


Local Firms Edge Out Competition to Build Terminal, Training Center

Two local construction firms made the lowest offers totaling 828 million Br to construct two separate projects in Qality: a transportation terminal and a transport management & traffic safety training…


Abiy Ahmed (PhD) has been reelected to chair the ruling EPRDF

Abiy Ahmed (PhD) has been reelected to chair the ruling EPRDF, carrying an overwhelming landslide victory of 176 votes from 177 council members. His deputy, Demeke Mekonnen has been reelected…


Development Bank’s Bad Loans Reach High

Bad loans at the state policy bank, Development Bank of Ethiopia (DBE), ballooned to an alarming rate of 39.4pc in the last fiscal year. Recorded previously at 25pc, the Bank’s…


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…




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...


SUBSCRIPTION OFFERS

Commentary

Egyptian companies are about to sue the federal government over their i...


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...




Business Indicators



ADVERTISEMENT


Editor's Pick
















SUBSCRIBE TO ADDISFORTUNE

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT


ADVERTISEMENT







Verbatim, News Analyis, Lifestyle, Radar and...






//