Trade Ministry Foresees Mandatory Cashless Fuel Payment Systems


Trade Ministry Foresees Mandatory Cashless Fuel Payment Systems

Cashless transactions will be mandatory when filling up a fuel tank at gas stations beginning next year. Payment through the digital system will start operation for residents of the capital this month while a nationwide operation is set to start the following month. The transaction is made through the QR code generated by Ethiotelecom's digital payment system Telebirr which was upgraded to a super app last week. According to Frehiwot Tamiru, CEO of Ethiotelecom, there is 99.1pc of 2G connectivity coverage that can accommodate the newly launched service assuring the infrastructure's reliability to shoulder the payment system. "It's developed to work on every phone type," said Frehiwot during the launch ceremony orchestrated at a gas station around Mechare Meda. The site visit was set in two gas stations of the National Oil Ethiopia (NOC) around Mechare Meda and Mexico areas. GebreMeskel Chala, Minister of Trade & Regional Integration disclosed that they plan to make the digital fuel payment system mandatory for all. There are 1,250 gas stations in the country providing services for close to two million vehicles. According to Alemu Sime (PhD), minister of Transport & Logistics, the payment system is integrated with a fuel registration and allocation system with all of the stations nationwide. He said the government’s huge expenditure on the procurement of fuel and its subsidization makes the retail price of fuel in Ethiopia very low in contrast with neighbouring countries. When it is coupled with the lack of a proper regulatory system, black market transactions with neighbouring states are steered creating a shortage in the local market, according to Alemu.

[ssba-buttons]

Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...