City Inaugurates 16 Road Projects

Jan 4 , 2020


[ssba-buttons]

The Addis Abeba City Roads Authority (AACRA) has inaugurated 16 road projects that cover 25Km with a lane width of 10m to 30m. The roads that pass through six districts are being built at a projected cost of 1.4 billion Br from the City Administration's coffer. The construction of seven bridges is also part of the project. Deputy Mayor Takele Uma and Moges Tibebu, director-general of the Authority, attended the inauguration ceremony that was held on January 3, 2020. Currently, the Authority manages over 40 ongoing projects undertaken by local and international contractors. In the last fiscal year, the Authority completed 22 projects. During this fiscal year, the Authority plans to launch 16 to 20 projects, of which five have already commenced.


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. ...