City Launches Construction of Adwa Centre

Jul 20 , 2019


[ssba-buttons]

Addis Ababa City Administration has commenced with the construction of Adwa Centre, which commemorates the victory at Adwa, on land repossessed from MIDROC Investment Group. The Centre, which is expected to be completed within two years, will have a museum and a meeting hall that accommodates 2,000 people. It will also have three rooms that can accommodate 400 people, cinema halls, a library, a gymnasium, green areas, a cafeteria, restaurants and parking space. The Chinese construction firm, Jiangsu International Economic & Technical Cooperation Group, will undertake the construction with the budget allocated by the City Administration. The Battle of Adwa was fought on March 1, 1896, near the town of Adwa in Tigray Regional State. Led by Emperor Menelik II, the Ethiopian forces defeated the Italian army.  


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...