UK Pledges £105m for Land Mgmt, Industrialisation

Aug 1 , 2020


[ssba-buttons]

The government of the UK and Ethiopia have signed a grant agreement amounting to 105 million pounds to support land certification, improved rural land administration and industrialisation. Ahmed Shide, minister of Finance, and James Duddridge (MP), Minister for Africa of the UK’s Foreign & Commonwealth Office and the Department of International Development, signed the grant agreement on July 28, 2020. The grant will be used for the Land Investment for Transformation and the Accelerated Ethiopia Economics Transformation programmes. The programmes will be implemented in Oromia, Amhara, Tigray and Southern Nations, Nationalities & People's regional states. The UK has pledged 60 million pounds for phase two of the Land Investment for Transformation programme, which is aimed at transforming the land certification and market system in the regional states. It incorporates second-level land certification for seven million parcels of land and computerisation of 103 weredas' land administration systems where the second-level land certification occur. The second part of the grant, with 45 million euros, will go toward the Accelerated Ethiopia Economics Transformation programme, designed to support industrialisation. It is expected to create 40,000 new jobs and generate 25 million pounds of private investment in four fully operational industrial parks. The initiative is also expected to strengthen federal and regional institutions and the regulatory and policy environment within which businesses operate.


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...