City Roads Authority Awards Three Projects

Sep 3 , 2022


[ssba-buttons]

The Addis Abeba City Roads Authority (AACRA) has awarded a three billion Birr contract to three contractors. The first road project, which stretches from Comoros St. (along the British Embassy) and Africa Avenue (Bole Road), is awarded to China Civil Engineering Construction Corporation (CCECC). The 4.5Km road corridor that links Africa Avenue through Medhanialem Cathedral, is part of the World Bank's programme launched in 2016 with 300 million dollars in financing. Yirgalem Construction, a grade-one contractor, is selected to construct the road from Ayer Tena to Alem Gena roundabout while Bergi Construction will handle Akaki bridge construction project. The Roads Authority is expected to venture on 20 new projects this year. Last month, the Addis Abeba City Council allocated close to eight billion Birr budget to the Authority.


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...