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Oil Company Expands Services through Outlets

Apr 29 , 2023

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Drivers waiting in line to fill up their fuel tanks around the Bole area get to treat their sweet tooth as a gas retail outlet and ice cream shop partner to provide service. Sosida Gelateria & Bakery opened its sixth branch at one of the retail outlets of OLA Energy last week. According to the executives of OLA, the partnership is part of the company's mission to provide an all-in-one service place while customers make their way to one of its service outlets. The company plans to expand to non-fuel services partnering with car washes and repair services, financial technologies and fast food services. Formerly OiLibya Ethiopia Ltd, OLA Energy Ethiopia Ltd. rebranded last year and is on its way to integrating with retail outlets and channels that have been providing fuel, oil and lubricants through its 181 outlets.

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Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...

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NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...

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Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...

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