Tax Revenues Generate 20b Br

Feb 22 , 2020


The Ministry of Revenues collected 19.96 billion Br in tax revenues in January, achieving 94.43pc of its goal. For the period, the Ministry aimed to collect 20.96 billion Br. Out of the collected revenue, 9.69 billion Br was generated from domestic taxes, 10.10 billion Br from custom duties, and the remaining amount from the national lottery. The Ministry has managed to collect 147.33 billion Br in the past seven months of the current fiscal year. Compared to this period last year, revenues have increased by 34.46 billion Br. For the current fiscal year, the Ministry intends to collect 253 billion Br - 65pc of the budget - from domestic tax revenues. In the last fiscal year, the Ministry collected 97.2 billion Br from domestic taxes out of the planned 235.7 billion Br in revenue, 83.7pc of its target.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email