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City Reports Strong Half-Year Tax Performance, High On-Time Compliance


City Reports Strong Half-Year Tax Performance, High On-Time Compliance

Addis Abeba City Administation has reported 162.72 billion Br in taxes during the first half of the fiscal year, with 95pc paid on time, Mayor Adanech Abebe told the City Council during its fifth-year, second regular session. The figure represents 92.4pc of the target. The city  had planned to raise 176.03 billion Br in annual revenue, up by 51.12 billion Br, a 45.8pc rise from the same period last year. Capital spending accounted for 70.14pc of the 148.9 billion Br total expenditure. The city allocated 18.72 billion Br in direct social subsidies and spent 55.7 billion Br on student meals, uniforms, health insurance and transport, marking a 59.7pc increase. Under a strengthened complaints and service monitoring system, 282 workers faced administrative and legal action for theft and corruption. Authorities also charged 7,678 tax-evading businesses involved in goods distribution using 2,261 trucks, supported by digital monitoring tools. A study of African cities cited Addis Ababa as a leader in revenue collection and budget utilisation.

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Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


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Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


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Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...