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Saturday, Apr 12, 2025

SEWAGE SOARS WHILE PLANNING SINKS

SEWAGE SOARS WHILE PLANNING SINKS

Under gloomy skies in Addis Abeba's rapidly expanding Lemi Kura District, residents gathered anxiously in a Noah Real Estate compound parking lot, in the Bole Beshale neighbourhood. Facing sudden demands from local authorities to cease sewage disposa...

Apr 6 , 2025

Fortune News

Ministry Moves to Forge Trade Policy as WTO Push Sparks Hopes, Fears

Federal officials and private sector leaders are finalising the first consolidated trade policy, trying to spur resource mobilisation and unified implementation. According to Trade & Regional I...

Apr 6 , 2025

Money Market Watch

Banks Bid Low Confidence as Brewed Buck Burns

Key Takeaways: From 27 banks participating in February to 12 last week, the forex auction participation has almost halved. The Birr's buying rates averaged at 131 Br, with selling rates at ...

Apr 6 , 2025

News Analysis

CBE's Profit Soars as Costs Climb, Capital Cushion Thins

KEY TAKEAWAYS CBE posted a substantial profit increase of 26.2pc to 22.02 billion Br in its 2023/24 financial year operation. CBE's operational costs increased enormously, with wages and...

Apr 6 , 2025

Latest Updates

CBE Rebounds Sharply as Profit Drive Raises Public Mandate Questions

Key Takeaways: CBE accomplished a 344.4pc increase in deposits within eight months. The Ba...

Apr 6 , 2025

Insurers Struggle to Stay Afloat as Capital Rules Bite, Talent Runs Dry

Key Takeaways Ethiopian insurers will transition to IFRS 17 by 2027, meeting international st...

Apr 6 , 2025

Wheat Shortage Strains Market as Soaring Prices Hit Millers

Key Takeaways: Wheat prices have surged by 50pc in two months, impacting the flour, biscuit,...

Apr 6 , 2025

Agenda

FLUSHED WITH TROUBLE

Key Takeaways Addis Abeba residents face sudden and severe fines for waste disposal violations, demonstrating the gap between rapid urban expansion and infrastructure provision. A sense of urgency prevails as communities and developers scramb...

Apr 6 , 2025

CHASED FOR A LIVING

At dusk, Haile Garment Square in the southern outskirts of Addis Abeba transforms from a quiet street into a lively market. Vendors quickly spread their merchan...

Mar 30 , 2025

"No Child Should Die Waiting"

Five neatly arranged children's beds lie in a small, dimly lit room inside Tikur Anbesa Teaching Hospital, on Yared St. Each was occupied by young patients unde...

Mar 23 , 2025

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Editorial

Cheap Power Lures Bitcoin Miners. But Millions Wait for a Lightbulb Moment

Last week, the International Finance Corporation (IFC), part of the World Bank Group, announced a 100-million-dollar debt financing package for Raxio Group, a major data-centre operator in sub-Saharan Africa. Over the next three years, Raxio plans to...

Apr 6 , 2025

Media Council's Edging to Accreditation a Deceitful Drift

When the private satellite channel, Ethiopian Broadcasting Service (EBS), aired an emotional interview last week featuring a young woman's allegations of sexual assault, it inadvertently sparked a political firestorm. Rather than encouraging meaningful discuss...

Mar 30 , 2025

Preventing War Far Cheaper Than Paying Its Deadly Price

Getachew Redda, head of the Tigray Interim Regional Administration (TIRA), at least up until last week, is no ordinary politician. Witty, articulate, and boldly confrontational, he seldom hesitates to criticise his political rivals within the Tigray People...

Mar 23 , 2025

Exclusive Interview

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 2020, whose vision departs from convent...

Dec 22 , 2024

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

Patience - Consistency - Respect

France's Ambassador to Ethiopia up until last week, Remi Marechaux, arrived in Addis Abeba four years ago with a dual mandate of representing his country and engaging with the African Union (AU). He dove into familiar waters from his previous role as Director...

Aug 4 , 2024

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Viewpoint

Will AI Close or Widen the Development Gap?

Artificial Intelligence (AI) is often presented as the next peak of human innovation, owing to its potential to revolutionise industries, transform economies, and improve lives. But will AI truly benefit everyone, or will it deepen existing divides? The answer depends on how the technology is developed, deployed, and governed. Without purposeful interventions, AI's potential will be harnesse...

Apr 6 , 2025

Developing Countries Need a New Strategy

US President Donald Trump's repeated threats to impose reciprocal tariffs on goods from nearly every country have set off alarm bells around the world. Trump's tariffs are likely to accelerate the ongoing fragmentation of the global economy. As is often the ca...

Apr 6 , 2025

Ethiopians Taxed to the Bone as Legislators Attempt to Fill Aid Gap with New Salary Deductions

Federal legislators passed a controversial tax bill this month, mandating new contributions from employees and businesses to the Ethiopian Disaster Risk Response Fund (EDRRF). The bill plans to fill a financial gap left by the suspension of USAID funding, prev...

Mar 30 , 2025

My Opinion

The Youth Chase Riches That Never Come

It starts innocently enough, usually with a message from an old classmate: “Hey, I've an exciting opportunity for you! Financial freedom, passive income, entrepreneurship. DM me for details.” Soon, we could find ourselves in a crowded conference hall, listening to a charismatic speaker who claims he “retired in his 20s” thanks to a mysterious business strategy. Cheers erupt, chants echo...

Apr 6 , 2025

Addis Abeba Restores Fountains as Residents Queue for Water

A decade after Ethiopia's socialist revolution, the military regime unveiled Dilachin — "Our Victory" in 1984, a towering monument erected on Churchill Avenue, near Ambassador Theater. Set in a park of 30,000Sqm, the memorial celebrated the revolution itself...

Mar 30 , 2025

Selling Hope in an Age of Desperation

Visiting a bookstore, browsing an online marketplace, or walking through Addis Abeba's Abrehot Library recently, we may notice the overwhelming number of self-help books promising to fix our lives. Bookshops, street vendors, and online retailers alike offer ti...

Mar 23 , 2025

Featured

When the Lift Lets Users Down

Key Takeaways: Human stories, like Hiwot's and Mekdes', reveal dire safety lapses in Addis Abeba's rapidly constructing high-rises, and elevators' functions. Systemic issues arise from insufficiently skilled technicians and inconsistent safety checks across the city's infrastructure. The city's enforcement efforts include 263 unannounced inspections, revealing widespread regulatory violations. Addis Abeba's expansive vertical development demands a comprehensive safety and mainten...

Apr 6 , 2025

Commentaries

Rising Debt Chokes Growth as Poor Countries Pay More, Get Less

Economic development requires financing that is affordable, accessible, and has maturities matched to development outcomes. Yet, for most developing countries, none of the above apply. Instead, an escalating "debt distress" is unfolding across much of the developing world, exacerbated by a series of cascading global crises. The urgency of the current crisis cannot be overstated. Over half of the 68 countries eligible for the International Monetary Fund's (IMF) Poverty Reduction & Growth T...

Apr 5 , 2025

News Analysis

CBE's Profit Soars as Costs Climb, Capital Cushion Thins

KEY TAKEAWAYS CBE posted a substantial profit increase of 26.2pc to 22.02 billion Br in its 2023/24 financial year operation. CBE's operational costs increased enormously, with wages and benefits rising by 17pc. A drop by one-third in forex gains signals shifts in revenue sources. Structural and economic challenges position CBE as a bellwether for the economy's financial health. The performance of the Commercial Bank of Ethiopia (CBE) in the 2023/24 financial year was on...

Apr 6 , 2025

Delicate Number

7,013

The amount of agricultural land, in hectares, lost in Addis Abeba to urban expansion over the past two decades. This represents a loss of approximately 350.63hct every year. Agricultural land in Addis Abeba has shrunk from a quarter of the city's total area to one-tenth over the last 20 years.

Apr 6 , 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

"It's not easy like turning on a tap where everything flows effortlessly."

Hana Tehelku, director general of the Ethiopian Capital Market Authority (ECMA), told The Reporter the tasks ahead of building a foundation for firms entering the capital market.

View From Arada

A Tale of Two Cities Addis and Dire

A 90's music clip kicks off with a fast-paced electronic beat, instantly taking you to a nightclub. Berhanu Tezera - one-half of the legendary duo Lafonte - delivers the opening lyrics with...

Apr 6 , 2025

Films Review

Nope

Few would have imagined that the Peele in Key & Peele, a show on MTV's Comedy Central, would become a world-class director reminiscent of Alfred Hitchcock and David Fincher. There is a sketch from Key & Peele, titled Town Hall Audience Member, one of the funniest outputs of the show, where Jordan Peele shows some promise as he acts entirely with his eyes to peak comedic effect. Other than that, at least to this author's eyes, there is nothing to indicate cinematic genius or even a great...

Sep 17 , 2022

RRR: PEAK OF BOLLYWOOD, FOR BETTER OR WORSE

Bollywood has finally peaked. The sentimentalism, chirpy musical numbers, physics-defying fight scenes and aggressively cheesy romantic plots have all come into their own in RRR, one of the biggest Bollywood hits in recent memory to gain an international audience. I would normally object to individual elements of the movie, including its ludicrous storyline and plot holes. But the way they have come together is strangely fascinating. RRR, which is short for “Rise, Roar, Revolt" and must be...

Sep 10 , 2022

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Fortune Video

Sunday With Eden

Breaking Bread, Sharing Hearts

Almost a year ago, my husband and I sat in the living room of a dear friend who had just suffered an unimaginable loss. She had lost a very young loved one, and the weight of her grief was overwhelming. In her mourning, she sought solace in the presence of friends. What began as an intimate effort to ease her pain has since blossomed into something much greater: a weekly gathering that has enri...

Apr 6 , 2025

The Cycle of Generosity Coming Full Circle

In a world that often prioritizes individual success, it's easy to overlook the profound impact of generosity. Yet, time and again, acts of kindness create lasting effects; not just for those who receive them but also for those who give. The simple act of givi...

Mar 30 , 2025

The Convenience Trap

Over the weekend, I watched a mother I know closely hand her children a bag of chips and packed juice for lunch. She isn't the type to welcome feedback on her parenting, but I couldn't stay silent. Before I could say anything, she quickly reassured me that the...

Mar 23 , 2025

Life Matters

Showers Are Optional, Guilt Is Not

It's funny how life throws your pre-baby notions right out the window. I vividly remember joking with a friend, back in my carefree days, about how toddlers don't need a huge wardrobe for those first three years. We reasoned, rather naively, that mothers deserved the bulk of retail therapy as a reward for the monumental task of birthing and raising tiny, albeit adorable, energy vampires. We even e...

Apr 6 , 2025

Natural, Enhanced, or Just Exhausted?

As a woman, navigating the world of beauty and attraction often feels like confronting a maze of contradictions. My personal experiences and observations have led me to wonder how men perceive these complexities; particularly the gap between what they claim to...

Mar 30 , 2025

Shining Light on Small Businesses

The bustling streets of Addis Abeba now carry a heavier weight for business owners. The cost of doing business has been steadily rising, with new mandates adding to existing pressures. Take, for instance, the seemingly simple task of painting a shop's exterior...

Mar 23 , 2025

Radar

Nationals Contribute 20B Br to GERD Project

Over the past almost decade and a half, more than 20 billion Br has been collected for the construction of the Grand Ethiopian Renaissance Dam (GERD), disclosed the project coordination office. Of this amount, all but two billion Birr, came from the sale of bonds and donations from Ethiopian citizens, while over one billion Birr was raised through bonds and gifts from the Diaspora. The Office also...

Apr 6 , 2025

With New Tariffs, Trump Upends Decades-Old Ethiopia Trade Preferences

The Trump Administration has unexpectedly included Ethiopia in the list of countries subjected to new trade measures, imposing a 10pc levy on Ethiopian imports into the United States while granting a reciprocal 10pc tariff on American goods headed to Ethiopia. The move marks an unanticipated shift in Washington's approach to Addis Abeba, which for years benefited from duty-free access under the Af...

Apr 6 , 2025

In Picture

URBAN STROKES

A vibrant painting of a monkey clings to a roadside wall in Megenagna square, within Addis Ababa's burgeoning concrete landscape. New buildings rise daily, crowding the cityscape like trees in a dense forest. Yet, these bursts of graffiti and mural art appearing in the city's most bustling areas offer glimpses of the "Africa" held in our imaginations. They also serve as unexpected flourishes, brea...

Apr 6 , 2025

SHAPE SHIFTERS

A floating spiral staircase statue with a lion at the end of it, stands tall at Addis Ababa University's Sidist Kilo campus, as one of the old statues that exist within the compound. The statues are not just monuments – they're relics of a former era. The university, established in 1934 as Haile Selassie's Grand Palace, holds the title of Ethiopia's oldest. It's a place that shaped Ethiopian his...

Apr 6 , 2025