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




Ride Hailing Providers Plead for Looser Oversight

Aug 6 , 2022


[ssba-buttons]

Ride-hailing companies are calling on authorities to relax restrictions on the industry by allowing them to recruit drivers of vehicles with private "Code-2" license plates. An industry lobby group, which thus far has only two members (ZayRide and Wez), tabled the request during a discussion with officials from the Ministry of Innovation & Technology and other government agencies held at the Sheraton Addis last week. The Addis Abeba Transport Bureau, under Dawit Yeshitla, has recently begun stepping up its exertions to bring the capital's ride-hailing fleets under oversight three years after a failed attempt by municipal authorities. Thus far, no entity has been mandated to regulate the application-based taxi-hailing industry due to the lack of a legal framework. This began to change this year after the City Council legislated a proclamation granting the Transport Bureau the mandate. The new rules come as the number of ride-hailing platforms has doubled to nearly 40 over the past two years.


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...