Enterprise Bags 192m Br in Half Year

Jan 11 , 2020


[ssba-buttons]

The Ethiopian Toll Roads Enterprise generated 192 million Br in revenue during the first six months of this fiscal year.

The Enterprise earned the income from the Addis Abeba-Adama Expressway and the Dire Dawa-Dewelle Toll Road through which over 4.5 million cars used the roads in the reported period, as well as from advertisement revenue.

Out of the total revenue, the Enterprise collected 10.3 million Br from renting spaces for advertisements and offering tow truck service. 

Traffic accidents on the roads have declined by half, from 12 to six compared to last fiscal year's same period.  

The Addis Abeba-Adama Expressway, the first toll road in the nation, was inaugurated five years ago and was constructed with 11.2 billion Br. The 31m-wide, six-lane expressway took five years to complete and shortened the total travel time between the two cities from two hours to 45 minutes.

The second toll road of the nation, which stretches from Dire Dawa to Dewelle covering 223Km with asphalt, was inaugurated last June.


Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...