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Sweden Seeds $3.6m for Good Governance

Sep 21 , 2019

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Sweden pledged a grant of 3.6 million dollars to Ethiopia to support new and existing governance reform initiatives, including the justice system reform. Pledged through the United Nations Development Programme (UNDP), the financing agreement was inked last week. The agreement was signed on September 19, 2019, between Swedish State Secretary of International Development Cooperation Per Olsson Fridh; Turhan Saleh, UNDP Ethiopia Resident Representative; and Admasu Nebebe, state minister for Finance. On the same date, Fridh had a discussion with Muferiat Kamil, minister of Peace, regarding peace building, democracy and how Sweden can support Ethiopia. The two countries also agreed to work in cooperation on the economy, justice and peace.

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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...

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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...

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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...

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