City to Get 275m Br Pedestrian Crossovers, Bridges

Apr 17 , 2021

Pedestrian crossovers are to be built on the city's light railway lines and bridges on its highways at the cost of 275 million Br, the Addis Abeba Traffic Management Agency has announced. The Chinese firm JiangXi has won the bid to construct the bridges with 274.9 million Br, having 40m in length, 5.4m in height and widths of not less than four metres. Four road lines with high traffic volume have been chosen around Gurd Shola, CMC Meri, Gojam Berenda, and Saris Addis Sefer to construct the crossovers. These are roads where pedestrians and motorists jostle shoulder to shoulder, causing stressful congestion and accidents. The project aims at decreasing these accidents and alleviating congestion.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...