Audit Report Identifies Unutilised Budget in Gov't Offices

Jan 15 , 2022

The Office of the Auditor-General has identified unutilised budgets in several offices. The audit report from the Office, which is mandated to conduct periodic audits on government institutions, covers performance during the 2019/20 budget year. Among those identified to have underutilised budgets is the Ministry of Education. According to the report, the Ministry did not use 750 million Br from its budget, 96pc of this represents funds allocated in the form of the capital budget. In the fiscal year, the Ministry's adjusted budget was 812 million Br, according to the report. The report notes the underutilisation of the budget could affect the implementation of planned activities. The Ministry of Health also had over 630 million Br left unused from its 2019/20 budget, according to the report. Similarly, the Authority for Research & Conservation of the Cultural Heritage, previously under the auspices of the Ministry of Culture & Tourism, had about 170 million Br in unutilised budget.


Addis Chamber Embarks on Leadership Forum

A leadership forum where prominent executives will share their experiences in the business environment is organised by the Addis Abeba Chamber of Commerce & Sectoral Association (Addis Chamber) and SAK Training & Consultancy Firm. Headlining Arega Yirdaw (PhD), president of Unity University, who is expected to address the fortunes and adversities of the leadership ecosystem and share insights into his cascade of experiences, the first round is expected to set off at the Inter-luxury H...


Wegagen Bank Launches its Mobile App

Embracing the digital realm, Wegagen Bank officially launched its mobile banking application last week. The App was inaugurated in Dire Dewa City, with Yehwalashet Zewdu, vice president of the Bank Enterprise Services, showcasing its service that provides secure and seamless financial services. According to Yehwalashet, Wegagen Mobile meets the evolving needs of its clientele in Amharic, English, Afan Oromo, Tigrigna and Somali languages. Incorporated in 1997, Wegagen Bank has grown to become...


Zemen Bank Joins IFC's Trade Finance Program with $30m Boost

Zemen Bank has secured a 30 million dollar trade finance guarantee from the International Finance Corporation (IFC) to boost the trade finance operations. A member of the World Bank Group, IFC has welcomed Zemen as the newest member of its Global Trade Finance Program aimed at supporting exports and imports. Signed by Dereje Zenebe, president of Zemen Bank and Madalo Minofu, country manager of IFC, the trade financing is part of the one-billion-dollar Africa Trade & Supply Chain Finance P...