Somali's Council Re-elects Mustafa Mohammed President

Oct 23 , 2021


[ssba-buttons]

The Somali Regional Council, established last week, has elected Mustafa Mohammed as its chief administrator. Mustafa has been serving as administrator of the region for the past three years. He was appointed to replace the interim President Ahmed Abd,i who was appointed after Abdi Illey. Ayan Mohamed was also appointed as speaker of the Council and Ibrahim Hassen as deputy speaker. In the elections held in September, the Prosperity Party enjoyed a landslide victory, securing all of the 23  parliamentary seats and all but one of the 72 regional council seats. The 36 member council of Harari Regional State has re-elected Ordin Bedri to serve as its President.


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...