Historical Structure Undergo Restoration

Feb 25 , 2023


[ssba-buttons]

The late-19th-century structure situated in the capital's district, Merkato commonly referred to as "American Gibbi" underwent cultural heritage restoration work. In the 1930s, the structure housed the US Legation. The conserved American Gibbi has served Yemeni and Ethiopian people as a community school for the past 80 years but has degraded in 2018. A year later, the US Embassy in Addis Abeba in partnership with the World Monuments Fund granted 240,000 dollars for the preservation. Tracey Jacobson, US ambassador opened the conserved building last week, with the State Minister for Tourism, Sileshi Girma, and Yemen, Turkey, the UK and Sweden ambassadors in attendance. Tracey described the structure as a tangible representation of both the history that underlies US-Ethiopian relations while a panel of historical and architectural heritage experts discussed the significance of the building in the inauguration.


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...