Political Instability Costs Ethiopia $300m

Nov 16 , 2019


[ssba-buttons]

The security situation in the country has caused the loss of 300 million dollars in foreign direct investment (FDI), according to the Ethiopian Investment Commission. Out of the one billion dollars the commission had targeted for the first quarter of this fiscal year, it only achieved 70pc. “Some investors who have already completed the preparatory procedures to implement the planned investment projects refrained from taking the next steps due to the worsening security situation in different parts of the country,” said Hanna Araya-Selassie, the vice commissioner. Despite this, it was possible to create 25,000 new employment opportunities in the first quarter alone. The expansion of industrial parks, the development of appropriate policy frameworks and their effective implementation are crucial factors to attract foreign investment into the country, said Hanna. The Commission plans to bring 4.1 billion dollars in FDI into the economy in the current fiscal year.


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...