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Postal Service Earns 86m Br Profits

Oct 9 , 2021

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The Ethiopian Postal Service Enterprise has reported profits of 86 million Br for the last fiscal year, 11pc higher than its target. The Enterprise's alliance with the Ethiopian Public Health Institute (EPHI) to transport COVID-19 samples have contributed to its latest performance. The postal service provider recently adjusted rental fees for boxes for the first time in 11 years, raising them by as much as 600pc. The rental fee for a regular mailbox surged to 600 Br from 85 Br annually while the fee for larger mailbox soared by 500pc to 170 Br. Only 40pc of the 124,000 boxes of the 128-year-old state-run postal service provider are rented.

Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...

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City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...

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Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...

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