Railway Corporation Gets New CEO


Sintayehu Woldemichael (PhD), former Minister of Education, became the new CEO of the Ethiopian Railway Corporation on November 5, 2018. The Corporation has been led by acting CEO Yehuwalashet Jemere since the resignation of the former CEO Berhanu Beshah (PhD). Sileshi Bekele (PhD), Minister for Water, Irrigation & Energy and chairperson of the board of directors of the Corporation, approved the resignation of Berhanu Beshah (PhD) on October 1, 2018. The new CEO served as the director general of the Public Financial Institutions Supervision Agency before coming to the Ministry of Education. Ethiopian Railway Corporation was established on November 2007 by the Council of Ministers. The Corporation has overseen multi-billion dollar projects of railway routes in eight corridors including the Addis Abeba-Modjo-Awash-Dire Dawa-Dewaele; Modjo-Shashemne-Arbaminch-Konso-Moyale; Addis Abeba-Ljaji–Jimma–Gudaferda Dima, with an extension to South Sudan; and the Awash-Kombolcha-Meqelle–Shire routes.


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Pivots in Business Maze

A set of projects spearheaded as part of ease of doing business reform with a 7.2 million euro finance from the European Union (EU) is set to improve and navigate the lingering concerns in Ethiopia's business landscape. E-governance projects are undertaken by GIZ International Services and Mckinsey & Company in cooperation with five federal agencies, including the Justice, Trade,  Innovation, Revenues ministries and National Bank of Ethiopia (NBE) are part of the wider plan to improve the d...


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Dashen Bank Board Reinstates its Chair

Dashen Bank re-appoints Dula Mekonnen as its Board Chairman, extending his tenure for another three years. The decision was made during a board of directors meeting held at the Sheraton Addis Hotel last week. Dula holds a first degree in electrical engineering from the Adama Science & Technology University and a graduate degree in business management. With a diverse leadership background spanning three decades, Dula has served as a manager at Ethio-Leather Industry Plc and managed Wenji S...


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Digital Fuel Transactions Soar Amid Subsidy Drop

Nationwide digital fuel transactions have exceeded the 155.4 billion Br mark, as the Ethiopian Petroleum & Energy Authority released a half-year report last week. Consistent reductions in fuel subsidies have led to the fuel price stabilisation fund hitting an all-time low of 117.4 billion Br, a decrease of 79.6 billion compared to the previous year. The report highlights the successful monitoring of subsidies across the country's 1,589 fuel stations, benefiting nearly 200,000 transporters...


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