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




City Tax Revenue Rises 26pc in Year

Feb 16 , 2019


[ssba-buttons]

The Addis Abeba City Revenues Authority has collected 18.7 billion Br in tax revenue in the first half of the current fiscal year. The performance was six percent short of the Authority’s plan for the stated period. The Authority’s plan was to generate 19.9 billion Br in the reported period. Comparing the performance with the preceding year’s same period, the value shows a 3.9 billion Br increase or 26pc. From the total revenues collected; direct tax contributed 13.5 billion Br; while indirect tax contributed 5.1 billion Br; and municipality revenues contributed  333 million Br. The Authority has a total of 336,173 taxpayers out of which 69,319 are Category A, 46,981 are Category B and 219,873 are Category C.


Radar

Creditors Open Way for Ethiopia's Eurobond Restructuring

Ethiopia has cleared a key hurdle in restructuring its one billion dollar Eurobond after the Official Creditor Committee (OCC) approved the latest agreement with private bondholders. The OCC said the deal meets its “comparability of treatment” principle, allowing the government to proceed with restructuring the bond, which matured in 2024. The approval follows renewed negotiations after official creditors rejected an earlier agreement reached in January. Under the new agreement, reache...


Radar

University Cutoff Leaves Most Exam Takers Behind

Only 70,544 students, or 12.8pc of those who sat the Ethiopian Secondary School Leaving Certificate Examination (ESSLCE), scored above the 50pc threshold required for university admission. Education Minister Berhanu Nega (Prof.) disclosed the results during a press briefing last Saturday. Nearly 32pc of the successful candidates were from Addis Abeba, giving the city the highest share. Oromia Regional State followed, while Amhara Regional State accounted for the remaining share. The res...


Radar

Dairy Drive Turns to Farmers to Cut Import Reliance

A five-year dairy project targeting 350,000 farmers has increased average milk production per cow by 3.8 litres a day, supporting Ethiopia's effort to replace imported dairy products with domestic output. The Ministry of Agriculture leads the initiative in collaboration with SNV's BRIDGE Plus project. It combines cow-focused advisory services, technology, market links and farmer capacity-building to raise dairy productivity. The work has centred on helping farmers produce surplus milk for sal...