Council of Minsters Approves Formation of Road Safety & Fund Service

Jan 22 , 2022


The Council of Ministers approved the establishment regulation of the Road Safety & Fund Service during a session last week. The Service is formed by the merger of the National Road Safety Council Office, the Insurance Fund Service and two directorates previously under the now-defunct Federal Transport Authority. The National Road Safety Council Office, established in 2011, is mandated to formulate national road safety strategies and assess existing standards. The Ministry of Transport & Logistics supervises both agencies. The new institution will be responsible for all road safety activities, vehicle and driving licensing standards among other mandates. A statement from the Office of the Prime Minister blamed the absence of a strong government institution that oversees road safety as one of the reasons behind road safety issues in the country. According to the former Federal Transport Authority, the cost associated with road accidents is estimated at an average of 80 million dollars a year.


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