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CBE’s Defining Moment |
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The largest state owned commercial bank, which is not only
the dominant player in the banking industry but also
critical in financing the public sector, the Commercial Bank
of Ethiopia (CBE), is now at a defining moment of its
existence. Reorienting the bank’s role in the economy, its
managers have taken the CBE into uncharted seas by financing
long-term projects; an ambition, pundits argue, would
seriously undermine its liquidity base, ...
Find Out More |
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NEWS |
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Galloping Inflation May Impede Lifting Lending Caps |
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Subsequent to the release of data on the latest
consumer price index (CPI), which increased by 3.2
percentage points from 14.5pc in December 2010, the
prospect for the government to lift the caps it
imposed on lending has diminished. |
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Quality, Standards Authority Splits in Four |
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The split of the Quality and Standards Authority
(QSA) into four independent bodies coming into
effect on February 1, 2011. |
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May Real Estate Contests 15m Br Claim |
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The claim for 15 million Br in compensation, which
home buyers have instituted against May Real Estate
Development Plc, for the latter’s failure to deliver
houses within the stipulated time and jacking up the
cost of the units, was rejected by the defendant at
the Federal High Court, Eighth Civil Bench, on
Monday, February 7, 2011. |
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Ayat Head Rebuffs Charges Reading 60-Page Defense Statement |
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Ayalew Tessema, major shareholder and board chairman
of Ayat SC, pleaded not guilty to all charges
instituted against him and two colleagues by
prosecutors of the Ethiopian Revenues and Customs
Authority (ERCA), at the Federal High Court, Eighth
Criminal Bench, on Thursday, February 10, 2011. |
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Former ETC CEO’s Future May Not be Prison |
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Tesfaye Birru (PhD), ex CEO of the former Ethiopian
Telecommunications Corporation (ETC), was sentenced
to four years of imprisonment and a 5,000 Br fine
for corruption, by the Federal High Court, First
Criminal Bench, on Friday, February 11, 2011.
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Agency Imports Meters for Demand Mang’t Study |
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The Ethiopian Electric Agency (EEA) has imported 50
specialised electricity meters at a cost of 5,000
dollars in aid of studying demand side management
(DSM) solutions for the national power sector.
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Police Charge Alleged Driver with Negligent Homicide |
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The federal police filed a charge of negligent
homicide against Yosef Tesgaye, who is accused of
driving a car when it was in an accident that killed
two people, at the Federal High Court, Seventh
Criminal Bench, on Friday, February 11, 2011, after
he had been granted bail three days before. |
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FEATURE |
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Stakeholders Divide as Taxi Zoning Draws Near
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The Addis Abeba City Transport Bureau (AACTB) has
been planning to implement taxi zoning since 2008,
the main purpose of which is to create a fair
service in all areas of the city, prevent taxi
operators from dividing long routes to make more
money, and to enable passengers to not be forced to
pay more than the fair rate... |
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One Man’s Rubble Another’s Treasure
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The apparent rubble from houses that are being demolished to
make way for redevelopment is not without value. Both
enterprising individuals and the wereda administrations are
cashing in,... |
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INTERVIEW |
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Mission Construction
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The largest US Chancery building
in Sub-Saharan Africa was inaugurated in Addis Abeba
on Monday, January 31, 2011. Lydia Muniz, deputy
director of the Overseas Buildings Operations Bureau
(OBOB) of the US State Department, since 2009,
talked with EDEN SAHLE, DEPUTY EDITOR-IN-CHIEF,
about the new building that will house USAID, the
Center for Diseases Control (CDC), as well as the US
Mission to the AU. Also attending the meeting were
Thomas J. FitzaPtrick, project director of the OBOB;
Billy L. Harbert, president and CEO of BL Harbert
International the involved in the construction of
the building; and James M. Wright, principal of Page
Southerland Page, company that designed it. |
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