Driving Speed Shows Decline: Report

Feb 23 , 2019


The latest results of road user behaviour surveys show that speeding has decreased by 10 percentage points from 49pc four years ago. Speeding has decreased following speed limit reductions, new signage and enhanced enforcement; however, speeding is still unacceptably common. Cargo trucks and buses are the vehicles most often observed exceeding speed limits, according to the report. The report was conducted in partnership with John Hopkins University, as part of the Bloomberg Philanthropies Initiative for Global Road Safety Project that takes place in 10 cities. The report shows Addis Abeba’s prevalence of four main road safety risk factors: speeding, drinking and driving, seat-belt and child restraint use and motorcycle helmet use. It also depicts that the drink driving continued to drop to 2.4pc, highlighting the effects of successful enforcement and media campaigns.  


Radar

Electricity Bills Get the VAT Jolt

The new Value Added Tax (VAT) has begun implementation on electricity consumption and various service fees affecting customers who use more than 200 kilowatt hours of electricity per month. Based on a directive from the Ministry of Finance, the tax will be applied to the excess amount of electricity consumption above 200 kilowatt hours. The Ethiopian Electric Utility (EEU) began implementing the VAT on bills starting from November though both prepaid and postpaid customers will have to pay VAT a...


Radar

World Bank Greases Financial Overhaul

The World Bank approved 700 million dollars in credit from the International Development Association (IDA) to scale up support for the financial sector. The funds are targeted at modernizing the regulatory and supervisory framework of the National Bank of Ethiopia (NBE), supporting governance reforms, balance sheet restructuring, and recapitalization of the Commercial Bank of Ethiopia (CBE), and transforming the Development Bank of Ethiopia (DBE) into a sustainable development finance institutio...


Radar

Gadaa Bank Expands Reach, Faces Lending Constraints

Gadaa Bank closed its first full fiscal year of operations with a net profit of 90.2 million Br. The 18-month-old Bank held its annual general assembly at Millenium Hall on Africa Avenue last week where the board announced that during the year, the Bank opened 15 branches and now has 85 operational branches. “Due to recently enacted policy measures on credit by NBE and unmet resource mobilization during the fiscal year, the Bank was unable to make loan disbursements,” stated Wolde Bulto,...