Agency Invests 10m Br in Vehicles

Feb 15 , 2020


The Pharmaceutical Supply Agency (EPSA) bought 15 automobiles for 10.5 million Br to enhance the facilitation of the health sector. Manufactured by BAIC Group, a Chinese state-owned enterprise, the sedan vehicles were manufactured in 2018. The vehicles are being received by the Agency starting from February 6, 2020, according to Biruk Sintayehu, the procurement expert of the Agency, which has 200 cars, out of which 190 are equipped with GPS systems. Recently, the Agency, supported by the Clinton Health Access Initiative, has inaugurated a cold chain warehouse with a capacity of 1,104.8 cubic metres of storage. The cold room warehouse that sits on 3,000Sqm was built at a cost of more than 25 million Br within five months. The Agency has 19 branches located throughout the country, two of which are in Addis Abeba, and operates with 2,535 permanent and 314 contract employees. It supplies pharmaceuticals, chemical reagents, medical supplies and equipment to over 4,000 health facilities nationwide.


Radar

Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...


Radar

NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...


Radar

SantimPay Launches Zero-fee Digital Remittance Platform

SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple count...