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High Court orders Abay Bank to pay 306mln Birr to Ethiopian Roads Administration

A year-long court saga between the Ethiopian Roads Administration and Abay Bank S.C. ended with the judges at the Federal High Court ordering the bank to pay 306 million birr.

The bank became liable for two advance payment guarantees it gave to the Roads Admin for road construction projects that the Administration (then Authority) and Tekle Berhan Ambaye Construction Plc signed in 2017.

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Products and Services in Ethiopia

Date: Jul 26, 2024
Currency (Code) Buying Rate Selling Rate
US DollarUS Dollar(USD)57.489558.6393
EuroEuro(EUR)62.335963.5826
Pound SterlingPound Sterling(GBP)70.675972.0894
UAE DirhamUAE Dirham(AED)14.164614.4479
Saudi RiyalSaudi Riyal(SAR)13.868214.1456
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