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Parliament Nods Loan Agreement with South Sudan


Parliament Nods Loan Agreement with South Sudan

In a parliamentary session last week, MPs approved a 738-million-dollar loan agreement with South Sudan. The federal body ratified the proposed bill which looks to establish road infrastructure linking the two countries. The project aims to create accessible transport routes that will enable trade, reduce logistical bottlenecks, and facilitate the movement of goods and people across borders. It is expected to be managed collaboratively, with the South Sudan Roads Authority overseeing activities in South Sudan and the Ethiopian Roads Authority managing the Ethiopian segment. The House passed the agreement with no opposition with parliamentarians mentioning they viewed the move as a strategic investment in regional stability and prosperity aligning with Ethiopia’s foreign policy priorities and contributing to a stable and mutually beneficial environment in the region.  

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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...