Ethiopia: OVID Group to Introduce Cable Car Technology

OVID Group, a local real estate developer, is proposing a solution to Addis Ababa's transportation woes: cable car technology. The company has already completed a project study.

Yonas Tadese, Ovid Group CEO, announced the plan, highlighting the Group’s broader efforts to leverage technology in urban development, including the construction of modern, technology-enhanced housing. The CEO emphasized that the implementation of the cable car system can be achieved without the need to dismantle existing railway and road infrastructure, presenting a seamless addition to the city’s transport network.

OVID is a corporate holding comprising of six member companies, namely OVID Construction, OVID Trading House, OVID Manufacturing, OVID IT, OVID Venture, OVID Real estate and Ovid Integrated Health. The group recently entered into a Memorandum of Understanding (MoU) with Ethiopian Airlines to construct 5,000 houses for the airline’s employees.

With around 17,000 permanent employees, Ethiopian Airlines has been actively seeking solutions to meet their housing requirements. This new partnership with OVID Group signifies a major step towards fulfilling that objective, with the airline’s CEO, Mesfin Tasew, emphasizing the employees’ responsibility to cover the housing costs.

Source: EBC

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