Fuel Authority Demands Stock Reports of Stations

Sep 23 , 2023


[ssba-buttons]

Fuel stations across the country are instructed to report the amount of stock in their inventory through a notice signed by Sahrela Abdulahi, director general of the Ethiopian Petroleum & Energy Authority. The letter dispatched two weeks ago aims to bolster the campaign of digitising fuel supply launched four months ago that instructed the stations to process all refills through mobile money transfers. Under the system empowered by state-owned Ethio telecom, the fuel supply chain is traced from the moment trucks in neighbouring Djibouti are filled by the Ethiopian Petroleum Supply Enterprise (EPSE) until they are funnelled to vehicles. While the plan to process all fuel payments through electronic transfers was initially kicked off in Addis Abeba, it has gotten traction nationwide over the subsequent months. Ephrem Tesfaye, a board member of the 500-member-strong Ethiopian Petroleum Dealer's Association (EPDA), said the new direction by the Authority is a positive turning point in the fuel supply chain of the country. Ephrem revealed that the association has been lobbying to put a system like this in place for the last four decades, hoping to seal the gap between demand and shipment orders. An average station stocks up on 250,000ltrs of fuel, enough supply for about four days in order to prevent disruption of service, according to Ephrem. The latest notice by the Authority entails revocation of fuel distribution licenses for stations that fail to comply with the reporting requirement.


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...