Revenues Office Bags 42b Br in Taxes

Jul 11 , 2021

The Addis Abeba City Administration Revenues Bureau collects 42 billion Br in taxes over the 2020/21 fiscal year, a 6.8 billion Br increase. It has fallen just short of its goal to collect 43.5 billion Br. Over the next fiscal year, it has planned to collect 48.5 billion Br, a 14pc growth from the previous target. The country as a whole planned to collect a little over 270 billion Br in the just-ended fiscal year, upping this figure to 334 billion Br next year. The Ministry of Revenues announced it has collected over 212 billion Br over the first nine months, exhibiting a 16pc increase compared to the same period last year.


ZamZam Bank Joins Commodity Exchange Payment System

The pioneering full-fledged interest-free commercial bank, ZamZam Bank, has become the 24th financial institution to join the Ethiopian Commodity Exchange's (ECX) payment system. CEO of the Exchange Wendemagegnehu Negera signed the deal with the President of the Bank Melika Bedri last week. According to the CEO, joining the platform which has around 11,000 accounts registered and has transacted over 386 billion Br so far, will allow a reliable mechanism whereby traders can be certain that pay...


AfDB, ADF to Chart Transformation Path at Diamond Jubilee

The African Development Bank (AfDB) and the African Development Fund (ADF) are gearing up for a major joint meeting in Nairobi, Kenya, expected to draw around 4,000 participants. The event, taking place at the Kenyatta International Conference Centre in late May, will focus on "Africa's Transformation," a theme reflecting the continent's ongoing pursuit of economic and social development. "Despite progress over the years, Africa's transformation remains incomplete," said Vincent O. Nmehielle...


Big Art Sale Returns to Addis

The annual Big Art Sale returns to Addis Abeba this weekend. Over 100 artists are expected to showcase their original works and prints at the Hilton Addis. What's Out Addis in partnership with the Hilton Hotel is behind the event that showcases the works of over 100 artists. Big Art Sale has been around for the past 18 years showcasing paints and prints. According to organisers, it offers a chance to meet the artists and enjoy a variety of art forms with a dedicated Kids' Corner and food and...