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LUXURY CAVERNS

LUXURY CAVERNS

Construction of a valley restaurant proceeds at Haile Grand Hotel around the Lamberet area. A proliferation of hotels around the capital is observed with Ethiopian Airlines Group investing 155 million US dollars in the construction of the second phase of the Ethiopian Skylight Hotel last month. The tourism-oriented Addis Abeba City Administration continues the allotment of land to developers and has generated over 12 billion Br from leasing 287 plots with an aggregate size of 13hct.  

Radar

Authority Enacts EV Charging Stations Directive

A new directive setting technical standards, licensing requirements, and safety measures for electric vehicle (EV) charging stations has been approved. Created by the Petroleum & Energy Authority (PEA), it aims to ensure the quality of energy supply and the safety of charging stations and accelerate the adoption of EVs. The directive outlines service provision regulations, including technical and safety standards as well as electricity tariff criteria. It divides public charging stations...

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Radar

Fuel Prices Surge Following Subsidy Withdrawal

The Council of Ministers has authorised monthly reviews and adjustments to retail fuel prices, leading to a price hike on January 7. The increase affects gasoline, kerosene, white diesel, light black diesel, heavy black diesel, and jet fuel. Gasoline prices rose by 11.3pc to 101.47 Br a litre. White diesel and kerosene prices increased by 9.6pc, while light black diesel now costs 108.30 Br a litre, and heavy black diesel is priced at 105.97 Br. Long queues at fuel stations persisted until...

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Radar

Wegagen Bank Expands into Diaspora Real Estate Market

Wegagen Bank has signed a memorandum of understanding (MoU) with Deluxe Properties to support diaspora communities in purchasing homes. The agreement was signed at Wegagen Bank's headquarters last week. Under the MoU, Wegagen Bank will provide financing to diaspora buyers of Deluxe Properties' homes. The bank offers loans covering up to 80pc of the property's cost, with repayment terms spread over 25 years. The Bank stated the initiative supports the National Bank of Ethiopia's (NBE) missi...

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