Ethiopia, France Forge Ahead on Renewable Energy Investment

Apr 24 , 2023


[ssba-buttons]

Ethiopian Finance Ministry officials met with French delegates today to address hurdles facing renewable energy investment and exploring ways to improve collaboration between public and private sectors. The meeting comes on the heels of a business climate report by the Ethio-French Business Club (CAFE), based on a study of over 50 French companies, conducted from September to December last year. Held at the Radisson Blu Hotel, on Marshal Tito Rd., the meeting was the third of its kind. The French officials have cited it as the latest indication of a strong bilateral relationship between the two nations. This follows Prime Minister Abiy Ahmed's visit to Paris in February. Organized by the Ethiopian Ministry of Finance and the Embassy of France, the meeting included virtual and on-site participation from key figures in both countries. Olivier Becht from the French Foreign Trade Ministry, William Roos and Agathe Blanchard from the French Treasury, and Re‌mi Mare‌chaux, the French Ambassador to Ethiopia, were among the French attendees. Representing Ethiopia were Eyob Tekalign (PhD) and Semereta Sewasew from the Ministry of Finance; Aynalem Nigusie from the Ministry of Revenue, and Girma Birru, a chief economic policy advisor to the Prime Minister.


Radar

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...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

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...