Central Bank Exempts Petroleum Suppliers from Loan Freeze

Oct 30 , 2021


Regulators at the central bank have exempted petroleum suppliers from the freeze on collateralised loans imposed in August 2021. The exemption comes following an appeal from the Ethiopian Petroleum Supply Enterprise, which notified central bank officials that the freeze is impacting the country's oil supply. Petroleum dealers are not part of the exemption, but suppliers including NOC, Oil Libya and TotalEnergies will benefit. The suppliers are the latest to receive relief from the freeze. The central bank has allowed players in the coffee and sesame industries, buyer of banks' foreclosed properties, and bank employees to resume taking collateralised loans since it imposed the freeze.


Radar

FAINT & FADING

A shoe cobbler in the Cherqos area clenches tightly at the needle, keeping the dying trade afloat. The ragged tent protecting the vendor from the scorching sun above will soon be a relic if the City administration's beautification campaign is fully realised. Addis Abeba has represented a centre of commerce and culture for the multitude that flock every year from all corners of Ethiopia in its 137-year history. With the informal sector accounting for nearly half of the capital's employed and cons...


Radar

PICTURESQUE LONGINGS

A street vendor around the Stadium area sells high-quality images depicting Ethiopia's diverse tourist attractions. Ethiopia is lauded as a land of man-made and natural wonders with tourist attractions all over the region. However, the constant conflict has rendered too much of its vast heritage inaccessible over the past few years. While many expected a rebound from the two billion dollars lost in tourism revenues in 2022 after the November peace deal, the dawn of another conflict has cast an u...


Radar

ECONOMY CLASS

A cow around the Qera area is transported to a nearby dairy farm as the demand rises during the holiday season. While Ethiopia has the largest cattle population in the continent at over 50 million, animal products appear to be a rare delicacy in the everyday diet of citizens. A recent report by the United Nations indicated that over 80pc of Ethiopians do not eat a healthy diet. High costs compounded by expensive undersupplied animal feed, contraband and hefty taxation play a major factor with a...


Back
WhatsApp
Telegram
Email