Sudanese Energy Company to Resume Ethiopian Supply

Feb 10 , 2024


[ssba-buttons]

Ethiopian Petroleum Supply Enterprise(EPSE) and Nile Petroleum Corporation signed a Memorandum of Understanding to resume the supply of Liquefied Petroleum Gas(LPG) at the Hilton Hotel on Menelik II Ave after a protracted break. Nile used to also supply Bezene for the EPSE, which is a part of the country's sovereign wealth fund, Ethiopian Investment Holding(EIH), until conflict broke out in Sudan last year. The Sudanese Energy company is set to resume the supply of LPG, which was stopped due to foreign currency shortages and pervasive security problems. Esmelalem Mehretu, CEO of EPSE, indicated the significant contribution of the MoU with Nile in decreasing deforestation and minimizing the escalation of household energy costs. "We will begin imports as soon peace is restored," noted Esmealem. The agreement between the two enterprises requires around two million dollars in four months to effectively meet local demand. LPGs, which are primarily used in households for cooking and heating purposes, are composed of either propane or butane alone or a mixture of the two.


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...