FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo



AfDB Commits $15m for Agro-Industry

Dec 19 , 2018

[ssba-buttons]

The African Development Bank and Ministry of Finance signed a 15-million-dollar grant agreement aimed at financing agro-industrial activities. The project will be implemented through the integrated Agro-Industrial Parks Support Project. The agreement was signed between Ahmed Shide, minister of Finance, and Abdul Kamara (PhD), country manager of the Bank. The grant will benefit agro-industrial parks located in the four regional states of Amhara, Oromia, SNNPR and Tigray. The project will strengthen the agro-industrial linkage with producers and small and medium enterprises with strategic industrial centres, according to Ahmed. A month ago the parties signed a 123-million-dollar grant agreement for the support of basic services in health, education, water and sanitation services.

Radar

Somali Region Advances Budget Independence as Revenues Rise

Somali Regional State is moving closer to fiscal independence, with nearly half its budget now funded locally. Officials point to rising agricultural output and stronger tax enforcement as key drivers behind growing revenues. The region plans to cover 32.5 billion Br from its own resources in the upcoming fiscal year. Communication Head Mohammed Abdi credited last year's tax collection of 18 billion Br, exceeding the 17 billion Br target, to agriculture, khat, and other taxable goods. The reg...

Read more >>

Radar

Environmental Protection Authority Shuts Down Polluters

Addis Abeba's Environmental Protection Authority (EPA) has taken enforcement action against 3,249 manufacturers and service providers found violating environmental standards in the 2024/25 fiscal year. The violations, ranging from air and noise pollution to improper waste disposal, were identified during inspections of 14,872 businesses citywide. Penalties included warnings and closures, with shutdown orders issued to six plastic factories, 23 block factories, a soft paper plant, 102 nightclu...

Read more >>

Radar

Ministry Mandates Full Electronic Clearance for Top Taxpayers

Taxpayers under the Ministry of Revenues' Medium No. 1 branch will have to ditch paper filings and switch entirely to the e-Clearance system for non-audited services starting August 1, 2025. The mandate, routed through the Ministry's e-filing portal, is pitched as part of a broader push to modernise tax administration and advance the government's digital agenda. Officials say the platform lets users process clearance requests remotely via the Fayda national ID, cutting out manual paperwork. A...

Read more >>