Logistics Hub Receives First Machinery Installment

Feb 6 , 2021


[ssba-buttons]

The Mojo Green Logistics Hub has received and inaugurated its first phase of port machinery. A total of 47 pieces of machinery were handed over to the Logistics Hub, located in Modjo Dry Port & Terminal, as part of the effort to grow the nation's logistics sector by the Ethiopian Maritime Affairs Authority. The Logistics Hub, currently developed by the Ethiopian Shipping & Logistics Enterprise, aims to make the Dry Port the largest logistics hub in the country in the coming five years. The project is financed through a 150-million-dollar loan from the World Bank. The Hub will be constructed on 173ha of land, and the expansion is expected to cut the average waiting time of a container from two months to three weeks. The funds, approved in March 2017, have also been used to develop a Terminal Operating System for the Port, which accounts for nearly 80pc of the country's import-export logistics.


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...