FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Committee Raises Inter-Regional Transportation Fare

May 31 , 2020


[ssba-buttons]

The COVID-19 National Ministerial Committee has issued a directive that increases the tariff on inter-regional transportation by between 75pc to 100pc, intending to curb the movement of people. The directive requires vehicles with 45 seats to charge passengers 100pc more than the regular fare and buses with more than 45 seats to increase their rate by 75pc. Previously, the inter-regional transportation fare was capped at a 50pc increase from the regular rate. The new decision of the Committee has also repealed the controversial decree that permits the use of private cars on alternating days. Increased congestion in public transportation options on days when people were not able to use their cars has led to an outcome contrary to the motive of the decree, according to Zinabu Tunu, communications director at the Office of the Attorney General . The new regulation also mandates the use of masks in all public spaces with the exception of people’s own houses.


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...