City Tax Revenue Rises 26pc in Year

Feb 16 , 2019

The Addis Abeba City Revenues Authority has collected 18.7 billion Br in tax revenue in the first half of the current fiscal year. The performance was six percent short of the Authority’s plan for the stated period. The Authority’s plan was to generate 19.9 billion Br in the reported period. Comparing the performance with the preceding year’s same period, the value shows a 3.9 billion Br increase or 26pc. From the total revenues collected; direct tax contributed 13.5 billion Br; while indirect tax contributed 5.1 billion Br; and municipality revenues contributed  333 million Br. The Authority has a total of 336,173 taxpayers out of which 69,319 are Category A, 46,981 are Category B and 219,873 are Category C.


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...