Ministry Adjusts Fuel Prices

February 2 , 2019


Ministry Adjusts Fuel Prices

The Ministry of Trade & Industry has adjusted the price of fuel for the second time in three months. The last price revision was made in November, and the Ministry announced that the November adjustment was too low. With the new rate, benzene will now be sold at 20.19 Br a litre, while white diesel will be retailed at 18.03 Br. Light and heavy fuel oil will be sold at the new price of 15.66 and 15.15 Br a litre, respectively. The price of jet fuel was also adjusted to 20.62 Br, a blend of ethanol and benzene will be sold at 19.89 Br and kerosene at 18.03 Br a litre. The new price became effective on January 31, 2019. Though the price of fuel has been adjusted upwards, the authorities have announced that there will be no adjustment on transportation fee tariffs.


Radar

Ministry Revokes Hundreds of Mining Concessions

The Ministry of Mines has revoked the licenses of 972 for alleged non-compliance with the terms of their exploration and production permits, and involvement in illicit trade.  Among those on the receiving end of the measure is Kefi Gold, a firm that has been conducting gold exploration in the Western Wellega Zone of the Oromia Regional State for over a decade. The 2,000hct exploration area is estimated to hold deposits of close to 50,000Kg of gold. Last week, the National Bank of Ethiopia ap...


Radar

World Bank, Fed Agree on $715m in Funds to Fight Food Insecurity

The World Bank Group and the Ministry of Finance have signed an agreement for 715 million dollars to go towards fighting food insecurity. Most of the financing (600 million dollars) is earmarked for the implementation of a Food Systems Resilience Programme. A third of the amount is in the form of grants, while the balance is credit. An additional 115 million dollars is pledged for improving access to financial services and bolstering economic activity in pastoralist areas. The areas target...


Radar

DISRUPTION HOPEFULS

Youths checkout a booth at the AddisRupt Expo 2022, which was hosted at Safari Hotel on June 25, 2022. The expo focused on technological and entrepreneurial work, showcasing over 20 startups to visitors. The promoters of the expo aimed at connecting startups with investors and was organized by firms such as LinkUp Addis, Profit Marketing and Afromile Trading...