Investment Holdings Backs Electric Mobility with Battery Swap Stations


Investment Holdings Backs Electric Mobility with Battery Swap Stations

Ethiopian Investment Holdings has made its second joint venture with an electric mobility startup company to avail 100 battery swap stations in Addis Abeba within a year and expand to 300 stations over the next three years. The company, Dodai, plans to offer e-motor riders to quickly exchange depleted batteries for fully charged ones, lowering downtime and is expected to create 100,000 jobs for the youth. Brook Taye (PhD), CEO of EIH and Yuma Sasaki, founder and CEO of Dodai signed a Memorandum of Understanding (MOU) last week, at Hyatt Regency, Africa Avenue (Bole Road). According to Yuma, the focus is on building a battery swap network for electric motorbikes, intending to expand to include electric buses in the future. As the sovereign wealth fund and the government's investment arm, Brook noted the strategic alignment of the initiative with EIH’s plan to diversify into investments in alternative energy sources and scalable ventures, positioning portfolios like Ethiopian Electric Utility (EEU) for sustainable financial returns. “We’re committed to investing in initiatives that create jobs and contribute to a green economy,” he said. With about 33 state-owned enterprises under its wing, Brook said EIH works on portfolio optimisation, identifying gaps in the service delivery, and investment potential. He mentioned the 49pc joint venture with Toppan Gravity that aims to avail passport printing locally.

[ssba-buttons]

Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...