Office Initiates Road Network Information System

Oct 31 , 2020

The Ethiopian Road Fund Office has initiated the development of an Ethiopian Road Network Information System in collaboration with Addis Abeba University's Institute of Architecture, Building Construction & City Development. Currently, the Office is in the process of procuring a satellite road network database for the system as regional states submit their road layouts to the Institute. It amassed revenues of 733.5 million Br over the first three months of the current fiscal year. The revenues were collected from tariffs imposed on petroleum, driving licenses and annual renewal fees, and tolls from cross-country buses. The Office, which achieved 98pc of its goal for this quarter, has funneled 104.4 million Br from the mobilised resources to regional states and the Ethiopian Roads Authority for road rehabilitation and other expenses. It has also allocated half a billion Birr to be distributed to road agencies for rehabilitation projects upon the submission of plans


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...