Taxi Hailing Companies Form Association

Oct 19 , 2019


Taxi-hailing service providers operating in Ethiopia are forming a fledgling union dubbed The Ethiopian Electric Taxi Service Union. On October 16, 2019, 13 taxi-hailing companies came together and signed a memorandum of understanding (MoU) in the presence of Commander Ahmed Mohammed, head of the Addis Abeba Transport Authority. The Union has also elected Temesgen Gebrehiwot of EthiopiaTaxi (ETTA) as a chairperson and Berhanu Assefa of Adika Taxi Services as vice-chairperson. The initiative was taken by the Mayor's Office after Deputy Mayor Takele Uma urged the companies to form an association. Started in 2017, the taxi-hailing business has been growing, and the number of companies has grown to 10. Temesgen pointed out that the formation of the association will have a stronger voice alongside the government, allowing them to gain the much-needed support to provide better service. On October 19, the Union ratified their MoU.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email