New Gold Mining Ventures Set Foot in Konso

Apr 30 , 2022


[ssba-buttons]

Two gold mining sites spread across eight hectares of land in the Konso Zone of the Southern Regional State have commenced work. Two cooperative unions comprising around 100 unemployed youth have begun digging in small-scale mines opened last week. Officials say the sites also hold granite deposits and precious metals in addition to gold. Close to 4,500tn of gold was shipped abroad over the first half of the fiscal year, generating 272 million dollars. The figure is slightly less than gold export revenues from the same period last year. A little under three tonnes of the exports was sourced from artisanal miners. A total of 283 million dollars was generated from the export of minerals over the six-month period.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...