Enterprise Amasses 352m Br in 11 Months

Jun 27 , 2020


The Ethiopian Toll Roads Enterprise has collected more than 352 million Br in revenues during the past 11 months of the current fiscal year. The Enterprise earned the money from the two operational toll roads, namely the Addis Abeba-Adama and Dire Dawa-Dewale expressways. Part of the revenue was collected from the eight million cars that used the two roads. The expressways, which operate 24 hours a day, have generated 323.8 million Br through fees, while the remaining value was generated from other services, including advertising space fees along the roads as well as towing services. The Enterprise also reported that traffic accidents on the roads have decreased by 50pc compared to the same period last year. It has also been engaged in strengthening its database and road light expansion as a means of generating more income. The Mojo-Hawassa Expressway, spanning 202Km, connects the towns Mojo-Meki, Meki-Ziway, Ziway-Arsi Negele and Arsi Negele-Hawassa.


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