Lottery Draw Sees 25,000 Condominium Units Assigned

Jul 9 , 2022

A lottery draw last week saw close to 25,000 condominium units assigned to Addis Abeba's residents under the municipality's troubled low-cost housing scheme. The scheme began in the late 1990s after the federal government partnered with the German technical cooperation, GIZ, to experiment with the construction of low-cost dwellings. A pilot project was launched in the Gerji area. The subsequent years saw the construction of 175,000 units in Addis Abeba scattered all over the city, thereby changing the city's urban character. Officials had registered around 300,000 people for housing in the first round in 2005; another round eight years later brought the figure close to one million. However, hundreds of thousands have yet to receive housing due to delays and financial issues.


E-Consultation Portal Launched to Boost Stakeholder Engagement

An e-consultation manual and portal designed to enhance stakeholder engagement in the drafting of laws before their final ratification stage was launched last week. Developed by the Business Environment & Investment Climate (BEIC) project team, the platform operates under the oversight of the Justice and Technology ministries. It aims to improve transparency, efficiency, awareness, and effectiveness throughout the law formulation and enactment process. According to Belayhun Yirga, stat...


Trade Ministry Changes Guard

Prime Minister Abiy Ahmed (PhD) made a series of appointments last week, assigning Kassahun Goffe (PhD) as the new Minister of Trade & Regional Integration. Kassahun, who previously served as the State Minister, succeeds Gebremeskel Chala, who navigated the country through various trade reforms. The appointment comes amidst an export slump, as Ethiopia has faced major economic and political headwinds over the past few years. The Ministry reported a shortfall of 863 million dollars from it...


Ahadu Bank Savours First Taste of Profits

Ahadu Bank registered a 175 million Br gross profits in the ended year, turning around its financial performance. The two-year-old Bank established with 503 million Br in paid-up capital mobilised from 9,600 shareholders has also managed to double the figure to 1.03 billion Br. Ahadu's total assets have also nearly doubled to 6.3 billion Br, while its operating income soared to 1.15 billion Br from financial services for nearly 700,000 customers. It also expanded its branch reach across the c...