Oromia Region, Sinqe Bank Ink Deal to Control Cement Price Hikes

June 4 , 2022


Oromia Region, Sinqe Bank Ink Deal to Control Cement Price Hikes

The Oromia Regional government has inked a deal with companies in the region in an effort to bring down the ever escalating price of cement. The agreement was signed with organisations such as Sinqe Bank and cement factories operating in the Oromia region with the hopes of bringing down the price of cement. The upward spiralling cost of cement has often been blamed on shortages but also on intermediaries that pass on “unjustifiable” markups to end-users. The Oromia regional government, together with Sinqe Bank, has organised more than a thousand unemployed youths in more than 300 unemployed associations to put them into the cement business, and further formalise the industry.


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