Retail Prices at Pumping Stations Surge

May 7 , 2022

Prices for benzene and diesel will go up beginning May 8, 2022. Officials at the Ministry of Trade & Regional Integration have set the price for a litre of benzene at 36.87 Br, a 16pc jump. It is an increase of a little over five Birr from what pumping stations have been charging since the last time price changes were introduced in December 2021. Diesel has seen an even steeper adjustment – a litre will retail for 34.43 Br, up 22.4pc. The measure comes a few months ahead of what officials had announced would be the start of a progressive lift-off of fuel subsidies. Beginning July 2022, the federal government plans to cut subsidies by 25pc quarterly, leaving drivers to bear the full burden of global petroleum prices by the following July. Public transport providers are to see the subsidies lifted off over a five-year period.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...