Yirgalem Bags Contract for Foreign Affairs Complexes

Nov 19 , 2022

A private construction firm won a bid to complete a diplomatic centre and housing complexes within two years. Executives of Yirgalem Construction signed a deal with federal officials to resume the interrupted project under the Ministry of Foreign Affairs. The Ministry of Urban Developemnt & Infrastructure terminated a contract with Afro-Tsion Construction last year for lack of progress after the project reached 14pc. Afro-Tsion was awarded the project five years ago with a cost of 1.1 billion Br, to be completed in three years. Telahun Abebe and Yirgalem Construction were shortlisted when the Ministry refloated a public tender in January this year. Aspire Aecom Architectural & Engineering Plc supervised and designed the two buildings on a 7,172sqm plot on Tito Road (Cazanchis area). Yirgalem Construction, incorporated 17 years ago, is contracted to build a 5.6Km road connecting Ayer Tena to Wolete Sefer roundabout, for 1.3 billion Br.


Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...