Committee Raises Inter-Regional Transportation Fare

May 31 , 2020


The COVID-19 National Ministerial Committee has issued a directive that increases the tariff on inter-regional transportation by between 75pc to 100pc, intending to curb the movement of people. The directive requires vehicles with 45 seats to charge passengers 100pc more than the regular fare and buses with more than 45 seats to increase their rate by 75pc. Previously, the inter-regional transportation fare was capped at a 50pc increase from the regular rate. The new decision of the Committee has also repealed the controversial decree that permits the use of private cars on alternating days. Increased congestion in public transportation options on days when people were not able to use their cars has led to an outcome contrary to the motive of the decree, according to Zinabu Tunu, communications director at the Office of the Attorney General . The new regulation also mandates the use of masks in all public spaces with the exception of people’s own houses.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email