FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo



US Pledges $30m for Upcoming Election

Feb 29 , 2020

[ssba-buttons]

The United States has promised to provide 30.4 million dollars to support the upcoming national election, which is expected to take place on August 29, 2020. A memorandum of understanding of the fund has been signed by Sean Jones, USAID Mission Director, and Birtukan Midekssa, the chairperson of the National Electoral Board of Ethiopia (NEBE). The fund will be used to build the capacity of NEBE to organise, administer and conduct free and fair elections. The programme will be implemented by the Consortium for Election & Strengthening Political Process, which includes the National Democratic Institute for International Affairs, the International Republican Institute, Internews, the International Foundation for Electoral Systems, and the Electoral Institute for Sustainable Democracy in Africa.

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...

Read more >>

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...

Read more >>

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...

Read more >>