Board Sets Separate Election Dates, 2.5 Months Apart

Jun 12 , 2021


The National Electoral Board of Ethiopia (NEBE) has announced that voters will be casting their votes on two separate dates, two and a half months apart. Going forward with the majority of constituencies, most of them running for federal seats, on the initially planned date of June 21, 2021, the Board came to the decision to add an additional date on September 6, 2021, for 54 precluded constituencies, most of which are regional seats. Giving reasons such as flaws in the Board's IT team that resulted in defective ballot papers, a mistake that Chairwoman Birtukan Mideksa characterised as "gross negligence" and which resulted in the sacking of two of its IT personnel, the NEBE postponed the election in 27 regional and federal constituencies in four regional states. Somali Regional State leads with 13 constituencies, followed by SNNPR with 10 constituencies, three constituencies in Afar, and one in Amhara Regional State. Citing other reasons, mainly security concerns, the Board has once again postponed voting to early September in an additional 27 constituencies – eight in Amhara Regional State, seven in Oromia, six in SNNPR, four in Benishangul-Gumuz, and two in Harar. Among the 10 regions, only Sidama Regional State along with the two city administrations, Addis Abeba and Dire Dawa, will be going to the polls with the entirety of their constituencies on June 21, 2021. This is in addition to the expectation of the urgent printing of ballots to a constituency in Gambella. With Tigray Regional State still excluded from the election, the remaining eight regional states will have a portion of their constituencies forced to wait to cast their ballots until September 6, 2021.


Radar

Electricity Bills Get the VAT Jolt

The new Value Added Tax (VAT) has begun implementation on electricity consumption and various service fees affecting customers who use more than 200 kilowatt hours of electricity per month. Based on a directive from the Ministry of Finance, the tax will be applied to the excess amount of electricity consumption above 200 kilowatt hours. The Ethiopian Electric Utility (EEU) began implementing the VAT on bills starting from November though both prepaid and postpaid customers will have to pay V...


Radar

Gadaa Bank Expands Reach, Faces Lending Constraints

Gadaa Bank closed its first full fiscal year of operations with a net profit of 90.2 million Br. The 18-month-old Bank held its annual general assembly at Millenium Hall on Africa Avenue last week where the board announced that during the year, the Bank opened 15 branches and now has 85 operational branches. “Due to recently enacted policy measures on credit by NBE and unmet resource mobilization during the fiscal year, the Bank was unable to make loan disbursements,” stated Wolde...


Radar

Oromia Bank's Branch Expansion Weighs on Profits

Oromia Bank reported a 47pc decline in net profit to take in 840.9 million Br for the past fiscal year. Interest income grew by 21pc to reach 7.19 billion Br while personnel expense grew by 36pc to hit 3.16 billion Br. The opening of 72 new branches, bringing the total to 575, led to a four percent growth of deposits to 56.4 billion Br. The profits are “unsatisfactory against our ambitious moves,” said Assefa Seme (PhD), board chairperson. “The deviation is primarily attributed to our aggr...