Economy
Addis Ababa Allocates 500 Mln Birr to Tackle Living Costs
BirrMetrics · 3 hours ago · Read the Full Story on BirrMetrics
AI SUMMARY
The Addis Ababa City Administration has allocated an additional 500 million birr in revolving funds to consumer cooperatives and announced tighter market enforcement to combat rising food prices and housing rents.
- The Addis Ababa City Administration allocated an additional 500 million birr in revolving funds to consumer cooperatives.
- The funding aims to contain rising prices for essential goods and residential rents.
- Discussions were held regarding unjustified price increases affecting meat, cooking oil, bread, bottled water, and residential rents.
- The announcement did not specify the number of eligible cooperatives, distribution terms, or disbursement timelines.
- The city plans to establish and expand market centres at major entry points to allow agricultural producers to sell directly to consumers.
- Sunday markets will be expanded with increased volumes of basic consumer goods.
- Authorities will strengthen market surveillance and law enforcement against businesses engaging in unjustified price increases.
- Residents were encouraged to report suspected market violations with evidence.
- Landlord-tenant relationships must be governed by applicable laws, contractual agreements, and legal obligations.
- Increasing the supply of affordable housing was identified as a longer-term measure, though no new rent ceilings or construction targets were announced.
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