FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Toll Road Enterprise Collects 147m Br

Dec 26 , 2020


[ssba-buttons]

The Ethiopian Toll Roads Enterprise, which administers the Addis Abeba-Adama and Dire Dawa-Dewele expressways, has generated 157 million Br in revenues within the first five months of the current fiscal year. Out of the total revenues, 147 million Br was generated through facilitating the traffic flow of 3.6 million vehicles, achieving 90pc of its goals. The remaining revenues were bagged through advertisment fees on boards, compensation fees on damaged road infrastructure and towing services. The Addis Abeba-Adama toll road, the first in the country, was inaugurated over six years ago and is a 31m-wide, six-lane expressway that took five years to be completed. It shortens the total travel time from two hours to 45 minutes. Dire Dawa-Dewele, a two-way highway that ranges from 10m to 21.5m in width and has a 10cm thickness, crosses over 29 bridges and has three toll plazas. It cut in half the current time it takes to travel to Dewele.


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...