Police Details Alem Suspected of Money Laundering, Contraband

Dec 10 , 2018


[ssba-buttons]

Judges at the First Instance Court Arada Division granted police a 14-day custody in the investigation of Alem Tefera, a well-known businessman suspected of money laundering, contraband and tax evasion. Alem was arrested last Tuesday and appeared before the court the next day on November 5, 2018, where investigators requested additional days to keep him in custody while they compile evidence to press charges against him. The investigator also requested the court deny him bail, stating that Alem can tamper with evidence and intimidate witnesses if released on bail. The judges of the Criminal Bench granted police the 14-day custody and adjourned the case to December 18, 2018. Alem owns a hotel in Dire Dawa, a garage in Akaki Kality district and a fuel depot around Qera.


Radar

Ethiopia Unveils Consortium to Insure Millions of Farmers

Ethiopia has launched its Agricultural Insurance Consortium (AICE), pledging to protect three million farmers by 2026. Announced on July 3, 2025, at the Hyatt Regency, the initiative is backed by Pula Advisors and five major Ethiopian insurers. AICE plans to promote climate resilience through insurance bundled with the government's input voucher system. Leveraging AI platforms like Mavuno and PIE, it plans to standardise products, lower costs, and expand coverage to over 200 woredas. With agricu...


Radar

New Coopbank Partnership Targets Youth Economic Empowerment

The Cooperative Bank of Oromia (Coopbank) has signed a strategic agreement with Melka Ethiopia to provide loan services to over 120,000 young men and women nationwide. The partnership plans to promote youth economic empowerment by expanding access to finance and creating jobs, with a strong focus on rural and underserved areas. Both institutions held joint discussions to explore ways to improve youth livelihoods and financial inclusion. By closing access gaps, the partnership is expected to help...


Radar

Ethiopian Netpreneur Program Training Kicks Off

The Ethiopian Netpreneur 2025 Training Program has officially launched its first cohort in Addis Abeba with 64 entrepreneurs beginning their first round of training. Organised by the Global Digital Talent Academy, the initiative plans to empower local business owners, startup founders, and digital sector players with global-level e-commerce skills. At the launch event, Innovation and Technology Minister Belete Mola (PhD) urged participants to leverage the opportunity to build networks and shape...