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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.

Radar

Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...

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NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...

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SantimPay Launches Zero-fee Digital Remittance Platform

SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple count...

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