PM Inaugurates Modjo-Batu Expressway

May 8 , 2021


[ssba-buttons]

A 6.3 billion Br road project connecting Modjo with Batu, also known as Ziway, was inaugurated late last week during a ceremony attended by Prime Minister Abiy Ahmed (PhD). Costing 68.4 million Br a kilometre, the 92Km Modjo-Meqi-Batu Expressway is part of the Modjo-Hawassa superhighway, a 202Km road project that was commenced five years ago with an outlay of almost 14 billion Br. The second half of the two-phase construction project, dubbed the Batu-Hawassa Expressway, is currently under construction. The Modjo-Hawassa Expressway is expected to enhance trade and cooperation, particularly with Kenya. It is also part of the Trans-African Highway network that stretches from Cairo to Cape Town and comprises transcontinental road projects to facilitate regional cooperation and trade.


Radar

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...


Radar

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...


Radar

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...