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AfDB Pledges 830,000 dollars to Improve Climate Resilience

Jun 4 , 2022

Ethiopia will receive 830,000 dollars in grants from the African Development Bank (AfDB) to be used for climate risk management. The fund came from the Climate Investment Funds’ Pilot Program for Climate Resilience. The agreement was signed on the sidelines of the African Development Bank’s annual conference held in Accra, Ghana, where Semereta Sewasew, state minister for Finance, led the Ethiopian delegation. During the conference, the AfDB hailed its technologies for African Agriculture Transformation (TAAT) programme, under which heat-tolerant wheat varieties were provided to 1.8 million farmers. The programme is credited for raising wheat production by 2.7 million tonnes.

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New Unit to Oversee City Tax Audits

The Addis Abeba City Administration Revenues Bureau has launched a new work unit to ensure the quality of tax audit decisions through a re[1]auditing procedure. According to Adane Sule, the head of the bureau's office, the new audit quality assurance unit will seek to address gaps and malpractices that previously existed due to the absence of a similar body to verify tax audit decisions. He asserts that the unit's main goal is to re-audit decisions, verify their quality and relevance, and correc...

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Shipping Behemoth Beats Profit Target Despite Cargo Dip

Ethiopian Shipping & Logistics (ESL) announced its six-month performance report for the fiscal year, revealing a mixed outcome. While it achieved 95pc of its operational service target, handling 2,880,187tn of cargo, this represents a slight decrease compared to the same period in the previous fiscal year. The ESL attributed this dip primarily to global difficulties, notably Red Sea shipping disruptions. Despite these hurdles, the company reported exceeding its profit targets. Projecting...

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Customs Hits Revenue Target, Cracks Down on Smuggling

The Ethiopian Customs Commission announced that it has exceeded its revenue collection target for the first six months of the fiscal year. The Commission collected 203.75 billion Br, surpassing the planned 190.9 billion birr by 106.73pc, representing a 106.7 billion Br increase compared to the same period in the previous fiscal year. Commissioner Debele Kabeta noted that coordinated efforts with other institutions to prevent contraband contributed to the successful outcome, resulting in the seiz...

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