FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Oromia State's Tax Revenues to Double Through Ethiotelecom Deal

Jun 24 , 2023


[ssba-buttons]

A new partnership with Ethio telecom is hoped to more than double revenues for the Oromia Regional State. The Oromia Regional Revenue Bureau partnered with Ethiopia's leading telecom provider, Ethiotelecom, leveraging the Telebirr digital platform. The Bureau aims to rake in tax revenues exponentially in the next fiscal year. The partnership is an ambitious undertaking that merges Ethiopia's push for digitisation with the country's expansive taxation agenda. According to Meskerem Debebe, head of the Oromia Regional Revenue Bureau, the objective is to accrue a formidable 130 billion Br in the next year, signalling a significant 55.3pc surge compared to previous collections. The Bureau's tax collection through the Telebirr platform has been off to a promising start since its launch in June this year. Within the first two weeks, it registered more than 39,251 transactions, cumulatively yielding over 44 million Br. Ethiotelecom's Chief Mobile Money Officer, Biruk Adhana, described the extent of the new tax collection infrastructure, which now seamlessly incorporates the Telebirre system. With this integration, 409 tax collection centres spanning across 23 towns, 42 districts, 21 zones, and 323 woredas have become part of this digital network. The system is not only intended for domestic taxation. Four customs revenue stations, in West Arsi (Shashemene), West Harergie (Bordade), East Harergie (Aweday, Babile, Dhegago, and Gursum), and South West Shewa (Teji), will also be utilizing the platform for more streamlined collection procedures.


Radar

Abay Bank Lists on Ethiopian Securities Exchange as Fifth Entrant

Abay Bank Share Company began trading on the Main Board of the Ethiopian Securities Exchange (ESX) on June 25, becoming the fifth company to list after registering its ordinary shares with the Ethiopian Capital Market Authority (ECMA). The stock debuted at 1,800 Br a share, making all 9.66 million ordinary shares immediately tradable. The listing follows a year of strong financial and digital growth. For the fiscal year ended June 30, 2025, the bank reported a three-billion-Br profit, assets...


Radar

Court Freezes Bank Accounts and Assets in Cosmo Trading Dispute

The Federal High Court Civil Bench has ordered the Commercial Bank of Ethiopia, Awash Bank, Hibret Bank and Bank of Abyssinia to freeze accounts held by Cosmo Trading Plc and Haileyesus Mengistu, blocking transactions of up to 400 million Br. The order follows the House of Federation's April 27, 2026 decision to suspend enforcement of earlier commercial rulings while it reviews a constitutional dispute over inheritance and contested business assets. The case centres on a nine-storey hotel on...


Radar

Bule Hora, Kebri Dehar Universities Sign Austrian Partnership

Bule Hora and Kebri Dehar universities have signed separate memoranda of understanding with Austria's Leoben University to strengthen training in mining, petroleum and energy as Ethiopia seeks to build resource-based industrial capacity. The partnerships aim to enhance academic and practical skills in mining engineering, petroleum studies and energy systems, disciplines viewed as critical to the country's long-term extractive and industrial ambitions. Under the agreement, Bule Hora Univers...