FORTUNE+ VIDEO SPONSORED CONTENTS FORTUNE AUDIO TRADE AFRICA new

Fortune Logo



Public Enterprises Underperform Debt Servicing

Nov 30 , 2019

The Ministry of Finance reported that two public institutions failed to service loans in the first quarter of this fiscal year. In its report to parliament, the Ministry mentioned the Addis Abeba Water & Sewerage Authority (AAWSA) and the former Ethiopian Airports Enterprise have failed to pay back their loans. In the reported period, the Ministry expected that all of the state-owned enterprises would service 245 million Br in debt. However, only 62 million Br was paid by enterprises, 25pc of the target. Ethiopia currently has an overall external debt of 27 billion dollars, out of which it was able to service more than 9.4 billion Br in the last fiscal year. State-owned enterprises owe 11.2 billion dollars in the external debt burden, while the federal government owes the remaining.

Radar

BRIDG-EATERIA

They say, "Where there is traffic, there is business." It reflects the colour of Addis Abeba roads and roundabouts. Around Bole, commonly known as the Ring Road, vendors serve tea and snacks underneath a bridge. Owing to these selling methods allow pedestrians and drivers to get the service they need while walking and driving. Despite that, such practice has become a frequent encounter in the heart of the city streets. The most common purpose of a ring road is to reduce traffic volumes in the ur...

Read more >>

Radar

WALKWAY DISPLAY

Pedestrian walkways around Addis Abeba are growing smaller by the day, competing to gain a foothold in the public spaces. The city, which prides itself as Africa's political and diplomatic capital, becomes a showcase of contrast. Beauty and affluence wrestle destitution and poverty to claim space. Vendors have displayed their second-hand outfits, shoes and luggage for sale on a roundabout in front of the Ministry of Education, up at the Arat Kilo area...

Read more >>

Radar

TRAILER HOMES

Retired city buses were once converted to bakery outlets retailing bread supplied by ‘Sheger Bakery' during their twilight zone. The city administration had used Anbessa City buses as its retail shops before formal outlets replaced them. Sheger Bakery, touted as the largest bakery and flour factory with the potential of baking two million loaves of bread daily, was to cater for millions of people in Addis Abeba with a subsidized bread supply but failed to live up to expectations. The old city...

Read more >>