Bahir Dar Inaugurates Projects Worth 760m Br

Jul 25 , 2020


[ssba-buttons]

The city administration of Bahir Dar has inaugurated 57 infrastructure projects built at a cost of 760 million Br. The projects included cobblestone pavement, green public space and youth recreational centres among others. The inauguration ceremony was attended by Minister of Revenues Lake Ayalew, Minister of Urban Development & Construction, Aisha Mohammed, and Temesgen Tiruneh, president of the Amhara Regional State. The city administration of Bahir Dar has allocated 1.6ha of land along the Abay River and Lake Tana for the development of the area, according to Amare Alemu, deputy mayor of the city. At the inauguration event, a cornerstone for the construction of the Bahir Dar city municipal building and the Prosperity Party Bahir Dar branch office was also laid.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...