Content: Fortune News

President Mulatu Teshome (PhD) (centre) visited the Gergesenon Association for Supporting Peoples with Mental Disorder, a charity located in Entoto, Addis Abeba last Friday. He was joined by veteran actor Debebe Eshetu (left), Deputy Mayor Dagmawit Moges (centre-right), and Yohannes Chala [MD] (right), head of the city’s Health Bureau. Melese Ayele (centre-left) one of the […]

The Metals & Engineering Corporation (MetEC), the state-owned, military-industrial conglomerate, is splitting into two parts – commercial and defence – following an order by Prime Minister Abiy Ahmed (PhD). To facilitate the split, eight separate committees incorporating members of the Corporation, the National Defense Forces and the Ministry of Defense have been formed. A lead […]

The Ministry of Mines, Petroleum & Natural Gas is set to undergo a major reform by restructuring itself and introducing new policies in a bid to alleviate challenges in the industry and improve the efficiencies of its service delivery. The reform will be undertaken in five major areas under the direction of six committees to […]

Bunna Bank, one of the late entrants to the private commercial bank industry, is set to introduce three new services, upgrade its servers and install new switches for a total investment of 100 million Br. Mobile, internet and agent banking will be new additions to the bank’s service offerings beginning in October of this year. […]

The government dismissed Metals & Engineering Corporation (MetEC) from three sugar-factory construction projects that are underway and is considering awarding the work to Chinese firms for completion. The state owned Sugar Corporation, responsible for the construction of the sugar factories, invited three firms to visit the plants as part of a new bidding process, according […]

The Macroeconomic Committee, chaired by Prime Minister Abiy Ahmed (PhD), have introduced major reforms that may succour the economy and the financial industry. The Committee, which met late last week, made four core amendments that relieve private commercial banks and could trigger forex gains, according to Fitsum Arega, chief of staff at the Office of […]

The Ethiopian Energy Authority is preparing to introduce a minimum energy performance standard for electrical motors in a bid to reduce power consumption. The Authority’s Energy Efficiency Conservation Department is conducting a study to identify the minimum standard for electric motor efficiencies  manufacturers must meet before they can be put to use in the country. […]

The United States Trade & Development Agency has thrown its support behind the Tulu Moye Geothermal project, the nation’s second geothermal plant. The Agency awarded a grant of 1.1 million dollars to conduct a feasibility study for the first 50MW phase of the planned 520MW project. The grant was made to TM Geothermal Operations Plc, […]

The government has launched an online database system dubbed iGuide in a bid to provide information for investors entering into the country. Announced by the Ethiopian Investment Commission (EIC) after three months of preparations, the system was designed by the United Nations Conference on Trade & Development and the Economic Commission for Africa. It has […]

The Ministry of Trade is planning to enlist four or five international conformity assessment firms that will accredit products imported into the country. The firms will ensure the quality of products that enter the country and protect local manufacturers from unfair competition, according to Eyassu Semon, quality control director for Import & Export Goods at […]

The nation is planning to launch drones to implement cadastral mapping, a digital mapping system that defines land ownership, on 13,000ha of farmland across six regional states for the first time. The mapping, which aims to solve disputes related to land tenure, is planned to be carried out by six drones operating in Amhara, Benishangul, […]

During his first press conference held since assuming power nearly five months ago, Prime Minister Abiy Ahmed (PhD) told local and foreign media on Saturday that the World Bank would provide one billion dollars in direct budgetary assistance to Ethiopia. “The money will be disbursed in the next few months,” Abiy told the nearly 120 […]

The Addis Abeba Revenues Authority is set to open a new branch for large taxpayers, dedicated to businesses with annual revenue of 40 million Br or more. The Authority is now looking for an accessible office with amenities such as parking, reliable internet connection access and proximity to the centre of the city, according to […]

Afro-Tsion Construction, a company responsible for the construction of 1,192 houses for Ethiopian Airlines Employees, has started repair work on defective craftsmanship and work that seeks to remedy leaking roofs and broken and fissured tiles. To date, Afro-Tsion has booked 451 calls of complaints ranging from minor electrical problems to construction flaws causing leaky roofs. To address […]

Ethio telecom, the state monopoly telecom provider, rewarded its 15,000 permanent employees by giving them mobile phones at a cost of 100.5 million Br The company provided its employees with the choice of two models of Lenovo brand phones, Phab two and Lenovo Phab two plus. The company spent 6,700 Br on each phone. “The […]

An education roadmap that would see the Ministry of Education restructured into three components has been proposed. The 86-page roadmap was presented with four chapters. It focuses, aside from restructuring the Ministry, on education quality, curriculum content and problems of implementation. The roadmap focuses on reforming the role and responsibilities of government bodies in education. […]

Amidst a fierce court battle, metered taxis are once again allowed to operate inside Bole International Airport. Justices at the Federal Supreme Court Cassation Bench reversed their earlier injunction on August 1, 2018. The earlier injunction, which temporarily banned metered taxis from operating inside the airport, was handed down on July 6, 2018 by the […]

The recently constructed Bale Robe Airport Terminal has become the nation’s 15th airport with an air traffic control tower designed to direct aircraft during takeoff and landing. The tower, costing 35.3 million Br, occupies a 460sqm plot and stands 25m in height. Bale Robe Airport is located in Bale Robe town, in Oromia Regional State, […]

HST Consulting has been engaged to overhaul the human resources strategy by Ethiopian Reinsurance, the nation’s first reinsurance firm, for 2.8 million Br. The firm was awarded the project last month after winning an international bid and competing against KPMG Consulting, one of the leading global consulting firms. The tender was announced in March 2018, […]

The state telecom giant, Ethio telecom, is embarking on an expansion plan in a bid to double the capacity and improve the quality of its services. The expansion project is at the preliminary stage of selecting companies to undertake the expansion and analysing the magnitude of the expansion. “It is too early to tell the […]

Top Water Bottling Company, one of the late entrants into the bottling industry, is investing 40 million Br to boost its production capacity by 133pc. The company is in the process of importing a water purification and bottling machine from China. The new machine, which is expected to arrive in the country within two months, […]

The capital’s Construction Bureau has launched online registration services for contractors, consultants and suppliers of construction material and equipment, as well as other practitioners engaged in construction activities. The software, which enables virtual registration, was developed by the Centre for Information Technology & Scientific Computing at the Addis Abeba Institute of Technology. The Addis Abeba […]

Despite being a city endowed with high access to water, Addis Abeba has recently been hit with one of its recurring bouts of water shortages. Taps have been running dry for several days in a row, and residents and businesses are complaining of the financial burdens they have faced and the inconvenience it has created. […]

The National Planning Commission is forming an economic advisory council that will regularly assess critical challenges in the economy and endorse policy amendments. Formed under the Planning Commission, the advisory council will have a biannual or triannual meeting with the Prime Minister, to discuss its findings and to make recommendations. “We are working on the […]

A judge at the Federal High Court dismissed the court case over the procurement of HIV-test kits following the failure of the representative of the plaintiff, Medica Pharma Enterprise Ethiopia, to appear. The two-year court battle was first filed by Medica Pharma, which accused the Ministry of Health and Pharmaceutical Fund Supply Agency of allegedly […]