Agency Bags 305m Br in Revenues

Jan 18 , 2020


[ssba-buttons]

The Documents Registration & Authentication Agency (DARA) generated 305 million Br in revenue during the first half of this fiscal year. The Agency generated the revenue from the 521,769 cases it handled in the reporting period. It provides registration and authentication of power of attorney, vehicle and housing sales contracts, and gift contracts among others. The revenue shows a 134 million Br increase from the previous year. At the 10 branches of the Agency, a total of 946,369 people received services. Out of the total revenue, the Agency contributed two-thirds of it to the national treasury. In the reported period, the Agency spent 72.2 million Br in expenses. DARA, which launched an online service last year, was able to provide 228,000 services online, of which the largest was the power of attorney service, which accounted for 183,321 services.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...