Commission Lauds Averting Near Billion Birr Worth Corruption Cases

Dec 2 , 2023


[ssba-buttons]

Officials at the Federal Ethics & Anti-corruption Commission laud preventing a staggering 812 million Br possible losses, during the first quarter report to parliament last week. Commissioner Samuel Urkato revealed that nearly 1.9 million square metres of land was seized as it made its way into passing ownership through a chain of corruption. Despite the purported success of the Commission, low salary scales had resulted in around a quarter of its employees fleeing to better alternatives. Members of the Legal Justice & Democracy Affairs Standing Committee chaired by Ewnetu Alene enquired about the lack of cooperation schemes with other institutions like the Human Rights Commission and the Ombudsman Office. The Commission has a budget of 66 million Br for the year. Senior officials pointed to the lack of a sufficient budget for proper training and capacity-building programs. The report indicates that 25 million Br of the budget is earmarked for salary payments, with the rest of the budget dispersed for all other services by the Commission.


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...