Court Injuncts Transfer of Middle-Income Houses

Apr 6 , 2019


[ssba-buttons]

The Federal High Court Lideta Division’s Eighth Civil Bench gave an injunction order on the transfer of title deeds to middle-income housing winners through the raffle system on April 4, 2019. The court passed the injunction order, because 98 people pressed charges against the Ministry of Urban Development & Housing, Addis Abeba City Administration Savings & Houses Development Enterprise and the Commercial Bank of Ethiopia (CBE), claiming that they were entitled to priority as they had paid in full. For the transfer of houses on the city’s middle-income housing scheme, individuals that deposited at least 40pc of the full amount were allowed to participate in a raffle system that decided who will be entitled to a title deed. The court adjourned the case to June 6, 2019, to hear the defendants’ response, and June 17, 2019, to hear their debate.


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...