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Petit Cadeau (small gift)

Petit Cadeau (small gift)

(right) Catherine Colonna, French foreign minister, Semereta Sewasew, state minister for Finance, Roland Kobia, EU ambassador (left). The French Development Agency granted 28 million euros to Ethiopia for agricultural assistance and electric facility restoration at the French Embassy last week.  Ethiopia's agricultural sector contributes 80pc of exports and 40pc of the domestic GDP. Coffee is the number cultivated crop, followed by pulses and khat. The sector employs close to 70pc of the labour force, according to data from the ILO. Agriculture has been the ground for political revolutions 'land to the tiller' and will offshoot economic revolution if managed right.

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Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...

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NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...

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Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...

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