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.


Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email