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Abri Motors, Jingshan Partner to Convert Bajaj Fleet to Electric


Abri Motors, Jingshan Partner to Convert Bajaj Fleet to Electric

Abri Motors has entered a strategic partnership with Jingshan Mining & Supply Chain Technology Plc to convert fuel-powered Bajaj three-wheelers into electric vehicles, marking a shift in efforts to reduce fuel consumption and expand cleaner transport options. The initiative targets the large number of Bajajs operating in urban centres, aligning with government priorities to promote e-mobility and ease pressure on foreign currency reserves. The agreement introduces a flexible battery model, allowing drivers to either rent or own batteries, aimed at lowering entry costs. Abrehet Ayele, CEO of Abri Business Group, said drivers who currently spend up to 24,000 Br monthly on fuel could reduce expenses by more than half, with electric battery use estimated at around 10,000 Br per month. A battery-swapping system is also planned to minimise downtime, enabling continuous operation. Jingshan representative Ding Wan You said drivers will have access to two batteries per day to manage charging cycles. The project is expected to launch within a month, with conversion costs set at 153,000 Br per vehicle. The initiative is expected to improve operational efficiency while reducing fuel dependency, contributing to ongoing efforts to expand electric mobility.

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Radar

Customs Authorities Intercept Major Alleged Contraband Shipment Worth 422 Million Br

The Customs Commission seized alleged contraband goods worth more than 422 million Br during inspections conducted between June 25 and June 30, 2026. The haul included clothing, electronics, ammunition, construction materials, coffee, vehicle spare parts, cosmetics, khat, narcotics, minerals, livestock and foreign currency. The Addis Abeba Airport, Moyale and Awash customs branches recorded the largest seizures, valued at 115 million Br, 93 million Br and 61 million Br, respectively. Authorit...


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Hijira Bank Posts Record Growth as Assets Reach 31.45 Billion Br

Hijira Bank posted 3.55 billion Br in income in 2025/26, exceeding its combined earnings over the previous four years, while gross profit reached 1.9 billion Br. Assets rose 115pc to 31.45 billion Br, deposits doubled to 24 billion Br, and capital increased 202pc to 7.45 billion Br. Digital transaction value surged 86pc to 41.72 billion Br, foreign currency earnings reached 158 million dollars, and total banking transactions hit 615.39 billion Br. The bank also disbursed 1.5 billion Br in col...


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Gadaa Bank Offers One Million Shares to Public Investors

Gadaa Bank has offered one million shares to the public at 1,050 Br per share following approval from the Ethiopian Securities Exchange (ESX) on June 22, 2026. The share sale keeks to expand the bank's capital base and strengthen shareholder value. The offering will run until September 17, 2026, and is open to existing shareholders and new investors who meet ESX requirements. It is open to existing shareholders and new investors who meet ESX requirements...