Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions


Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement and persistent project delays were discovered as major factors behind the poor performance, prompting Parliamentary committee chairs to demand explanations from senior Ministry officials. The audit's detailed review of financial practices painted an alarming picture. Among the irregularities were unauthorised contracts amounting to 8.4 million dollars and discrepancies of 1.6 million Br in payroll records. These financial missteps have drawn attention from policymakers and experts, heightening accountability concerns. Further complicating matters was the diversion of 50.2 million Br originally intended for a local project to an international company. The shift not only raised red flags about financial oversight but also brought into question the transparency of international transactions handled by the Ministry. Minister Belete Molla defended the transaction, insisting that all actions adhered strictly to established financial protocols, though scepticism persisted on the federal legislative floors. The audit findings have broader economic implications as Ethiopia strives toward innovation-led development. Federal legislators demanded that the Ministry submit a detailed remedial action plan within 15 days, pressing the urgency of improving management and accountability.

[ssba-buttons]

Radar

Council Approves Nearly Two Trillion Dollars Budget for Upcoming Fiscal Year

The Council of Ministers has approved a draft federal budget nearing two trillion birr for the 2025/26 fiscal year, advancing it to Parliament for legislative review. Endorsed during it's recent session on Thursday, the proposal outlines allocations across recurrent and capital expenditures, regional transfers, and targeted investments directed at accelerating progress toward the Sustainable Development Goals (SDGs). Structured within the Medium-Term Macroeconomic and Fiscal Framework, the...


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hilton Hotel Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...