Addis Fortune

Badr Abdelatty, Egypt's foreign minister, told the Middle East Online (MEO) last week that his country opposes "any measure taken without agreement" between countries sharing the Nile River. Talks between Ethiopia and Egypt over the issue of the Nile Basin, including water flow managment through the Grand Ethiopian Renaissance Dam (GERD), have been stalled for a few years now, unable to agree on how much water Ethiopia should release from the reservoir during multi-year dry periods. #Nile #GERD #Dam #Ethiopia #Egypt #Water #River

Ethiopians who have paid income tax all year are reaching for their wallets again at the public counter. To get a birth certificate, register land or renew a permit, the taxpayer pays a second time for the very services those taxes were meant to fund, as a state pressed to fill a budget deficit turns to fees, levies and charges. #Public #Finance #Government #Service #Charge #Ethiopia Read more - https://shorturl.at/FjsEk

Ethio telecom closed year one of its 'Next Horizon' roadmap with solid growth but a lagging network. Revenue grew by 33.2pc to 215.82 billion Br, meeting 99.7pc of the revised target. Subscribers reached 90.12 million, beating its plan by 1.7pc. Data and internet overtook mobile voice as the largest revenue source for the first time, accounting for 31.1pc of revenue. #ethio #Telecom #Revenue #Ethiopia Read more - https://shorturl.at/bfX5f

ASKY Airlines has tied its next growth phase to modernising Lomé International Airport, its Togo hub, where passenger use already runs near 80pc of capacity. The pan-African carrier, born of efforts to restore West and Central African links after Air Afrique's collapse, handled 1.58 million passengers in 2025, against a ceiling of about two million, effectively at its limit as it prepares to double its fleet and fly to Europe. #Aviation #Industry #Asky #Africa Read more - https://shorturl.at/wKvAQ

A fuel tanker carrying 49,000Ltrs was impounded after its driver allegedly siphoned four litres, leaving its owner, Yemane Tsegaye, without his main income and facing a demand of more than 10.3 million Br to get it back. The case has become a flashpoint between fuel transport operators and authorities over how alleged diversion is investigated and punished. #Fuel #Transport #Ethiopia Read more - https://shorturl.at/qB9jU

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Commercial banks pushed the Birr to a fresh low last week, the industry's average buying rate crossing 160 Br for the first time, and the Central Bank did not step in once. The average bid increased from 159.95 Br on Monday to 160.06 Br on Saturday, a move of only 0.07pc. But the direction told the story; 66 upward revisions across the week against a single cut. #Forex #Market #USD #Birr #Ethiopia Read more - https://shorturl.at/zCsre

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Addis Abeba's Education Bureau has launched a summer tutorial drive, deploying 1,800 teachers to support more than 51,520 Grade 11 and 12 students before the university entrance examination. For a mother in Lemi Kura, it upended a family tradition, her Grade 12 daughter told to attend or lose her place. #Excellence #Education #Ethiopia Read more - https://shorturl.at/YB20J

Nearly 180 shops in Shematera, one of Mercato's oldest handwoven-cloth markets, have stood locked for close to a month after tax officials, backed by the Addis Abeba Police, sealed them. Shop owners like Damtew Demissie, a father of three who carries nearly 60,000 Br in monthly costs, opened one morning to find a notice stamped with a single word: "Closed." #Taxation #Cloth #Market #Mercato #Ethiopia Read more - https://shorturl.at/0pUT9

A new Council of Ministers regulation allows farmers to pledge certified warehouse receipts as collateral for short-term loans of up to 70pc of their stored crop's appraised value. It targets the harvest-time squeeze that pushes growers to sell cheaply when they need cash for fertiliser and the next planting, letting them store, borrow and sell later when prices recover. #Agriculture #Finance #Ethiopia Read more - https://shorturl.at/i5UJK

The Federal High Court has overturned the National Lottery Administration's suspension of Hulu Sport, one of the leading sports betting operators, finding the regulator's action legally flawed. Yet the firm still cannot reopen, after the Administration appealed and secured a temporary stay of execution. A company that won in court remains locked out of business. #Court #Litigation #Sports #Betting #Ethiopia Read more - https://shorturl.at/NCN3j

Global Bank's Board has suspended 18 executives as an investigation into its deposit and liquidity practices widens. Its President, Tesfaye Boru (PhD), who had delegated Corporate Banking Chief, Sahilemichael Mekonnen, to run the bank while abroad, is among those suspended. The Board, chaired by Yoseph Getachew, has since named Sahilemichael acting president. #Bank #Administration #Finance #Ethiopia Read more - https://shorturl.at/D3CuK

Explore in-depth analysis of Ethiopia's banking sector, featuring key financial indicators, performance rankings, and expert insights. 📖 Read the full magazine: https://finance.addisfortune.news/ #AddisFortune #Banking #Ethiopia #Finance #Business #BankingPerformance

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Jet fuel reached 300 dollars, with supplier premiums alone 80 dollars above the Platts benchmark for diesel and 88 dollars above for jet fuel. During March and April, the country secured only about 60pc of its monthly diesel requirement. These were Ethiopia-specific landed and financed costs created by an extraordinary combination of one of only two suppliers declaring force majeure; emergency purchases on the spot market; dependence on Red Sea ports and constrained storage and logistics; rerouting, freight and insurance costs; and deferred letters of credit, under which suppliers charged heavily for waiting as long as 360 days for payment. #Fuel #Diesel #Price #Iran #USA #War #Strait #Hormuz #Ethiopia #Price #Hike

𝗬𝗘𝗛𝗨𝗔𝗟𝗔𝗦𝗛𝗘𝗧 𝗧𝗘𝗚𝗘𝗚𝗡: Ethiopia has treated the cheque as an official payment instrument since modern banking began with the Bank of Abyssinia in 1905. It has regulated cheques in full since the 1960 Commercial Code, which drew on the Geneva Uniform Law on Cheques of 1931. In law, a cheque is an unconditional order to a bank to pay on demand, intended to operate independently of the underlying transaction. #Supreme #Court #Cheque #Ethiopia Read more - https://shorturl.at/KPigL