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

High-Level Event Aims to Address Humanitarian Crisis

Development partners and government officials are expected to discuss improved humanitarian responses at a crucial event in Geneva, Switzerland this week. Co-hosted by the Ethiopian government and the UN Office for the Coordination of Humanitarian Affairs (OCHA), the primary goal is to secure pledges from both development partners and the government, according to officials. Millions face hardship due to conflicts, economic downturns, climate shocks, and disease outbreaks, according to a UN st...


Radar

Foundation Announces Up to $2.5m Grants for Agribusinesses

Small and medium enterprises (SMEs) in the agricultural sector are poised for financial support as the Mastercard Foundation Fund pledges to award grants over the next three years. The Agribusiness Challenge Fund will award grants ranging from half a million dollars to 2.5 million dollars to qualifying businesses in Ethiopia and 19 other countries. According to Smita Sanghrajika, an engagement partner at the Foundation, agribusinesses have lacked the financial resources needed to scale up and...


Radar

Document Authentication Service Gets Fee Revamp

The Council of Ministers approved a new regulation for the Federal Document Authentication & Registration Service last week which introduces a two-tier fee structure for citizens and foreigners, with an overall increase. Beginning at 100 Br for citizens seeking document authentication for an assigning agency of single documents, the ceiling goes up to 500 Br while foreigners pay double these rates. Implementation of the new fees began this week. These changes come alongside a digitisat...


Back
WhatsApp
Telegram
Email