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Electric Power Welcomes New Boss

Feb 22 , 2020

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The board of directors of Ethiopia Electric Power (EEP) has selected Asheber Balcha to be the company's new CEO. He will be replacing Abraham Belay (PhD), who was recently appointed Minister of Innovation & Technology. Asheber received his MSc in international business from Greenwich University and took additional courses on sustainable energy engineering at KTH, a Swedish university. Asheber brings extensive experience to the position. He has served the EEP for the past 16 years in a variety of capacities, most recently as CEO of  Hydropower Projects. He has worked with Bedele Brewery, the Tekeze Hydropower Project and the Geba Hydropower Project. Abraham Belay is stepping into the minister post formerly held by Getahun Mekuria (PhD), who is leaving to serve as the Minister of Education.

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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...

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NBE Leads Week-Long Bank Supervision Application Forum

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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...

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