Millions In Damages To Capital's Roads

Aug 5 , 2023


Addis Abeba's roads have sustained over seven million Br worth of damages during the ended budget year, according to a report by the city's Roads Authority. Traffic lights, road signs, pedestrian rails and manhole covers sustained the bulk of damages that occurred through 135 highway accidents and 199 traffic collisions on tributary roads. Despite increasing restrictions on the type of vehicles allowed to enter main roads, accidents still pervade across highways. Motor insurance accounts for half of the gross premiums for insurance companies, with 15,000 traffic accidents reported nationally in 2021/2022. Data from Federal Police Bureau indicates that up to 300 deaths yearly occur on the capital's roads accounting for nearly a 10th of the total. According to the report, most of the accidents resulted from drunk driving while overspeeding and driving without a license contributed to the total impact.


Radar

Exchange Ponders Adding Salt to its Floor

The Ethiopian Commodity Exchange (ECX) is considering adding salt to its list as the 24th tradable commodity. Executives are currently conducting feasibility studies and preparing sales contracts. Last week, Ali Muhammed, deputy administrator of the Afar Regional State, and Ali Behani, Head of the Regional Mining Bureau, visited the ECX headquarters in the Mexico area. They said regional salt miners and processors are not adequately compensated for their production, with hopes that the EC...


Radar

Public Service Sector Receives Data Privacy Training

Staff members from the National Bank of Ethiopia, the Ministry of Trade & Regional Integration and the Ministry of Revenues received a three-day training on data privacy and protection over the past week. The training aimed to equip participants with the skills of proper data breach notification procedures, minimising risk of exposure, and secure data transfer practices to safeguard personal data during transmission. It was given by the Business Environment and Investment Climate (BEI...


Radar

Unleashing Millions for Micro-Entrepreneurs with Digital Loans

A 100 million-dollar program to scale up six financial institutions to facilitate digital non-collateral loans to micro, small and medium enterprises (MSMEs) was launched last week. Drawing experience from the first digital non-collateral lending platform dubbed Michu powered by Cooperative Bank of Oromia (COOP), the program coupled with Amhara, Bunna, Enat, Wegagen and ZamZam banks. Last year, Coop dispersed 946 million Br loans to farmers through cooperative unions and MSMEs, reaching m...


Back
WhatsApp
Telegram
Email