City Adjusts Transport Fares Following Fuel Price Hike


City Adjusts Transport Fares Following Fuel Price Hike

The Addis Abeba Transport Bureau has announced a bump in transport fares a week after the 25pc hike on fuel. The fare increases vary between 50 cent and 3.5 Br depending on the length of the route. Commuters on short taxi routes (up to eight kilometres) will now be asked to pay four Birr, up from three Birr. The longest routes (up to 30Km) will cost 30 Br, a 3.5 Br increase. Routes with lengths in between have also seen fares rise by an average of 20pc. The announcement is welcome news to transport service providers, who have been operating with the old prices for a week after fuel retail prices climbed by around six Birr a litre for both benzene and diesel. A litre of diesel is now being sold 28.94 Br while a litre of benzene is going for 31.74 Br.


Radar

Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


Radar

Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


Radar

Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...