Ride Hailing Providers Plead for Looser Oversight

Aug 6 , 2022


Ride-hailing companies are calling on authorities to relax restrictions on the industry by allowing them to recruit drivers of vehicles with private "Code-2" license plates. An industry lobby group, which thus far has only two members (ZayRide and Wez), tabled the request during a discussion with officials from the Ministry of Innovation & Technology and other government agencies held at the Sheraton Addis last week. The Addis Abeba Transport Bureau, under Dawit Yeshitla, has recently begun stepping up its exertions to bring the capital's ride-hailing fleets under oversight three years after a failed attempt by municipal authorities. Thus far, no entity has been mandated to regulate the application-based taxi-hailing industry due to the lack of a legal framework. This began to change this year after the City Council legislated a proclamation granting the Transport Bureau the mandate. The new rules come as the number of ride-hailing platforms has doubled to nearly 40 over the past two years.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email