Trade Ministry Handles 1b Br of Acquisitions and Mergers

Apr 9 , 2022


[ssba-buttons]

The Ministry of Trade & Regional integration processed the acquisitions and mergers of 39 local companies with a value of 1.08 billion Br over the first eight months of the financial year. The firms involved were engaged in technology, health services, construction, agriculture, and manufacturing. The Ministry also handled cross-border acquisitions and mergers of eight companies with a registered capital of nearly 24 billion Br. The value of the acquisitions and mergers is estimated at 76.9 million Br. Its officials have also passed decisions on the acquisition of seven companies through the Common Market for Eastern & Southern Africa (COMESA). These companies transact over 252 million dollars through their regional offices in Ethiopia, according to a report availed by the Ministry.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...