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Customs Crackdown Nets 13 Billion Br in Alleged Contraband


Customs Crackdown Nets 13 Billion Br in Alleged Contraband

The Customs Commission seized alleged contraband goods worth over 13 billion Br in the first half of the current fiscal year, arresting 729 suspects. The figures were revealed during the Ministry of Revenue's annual strategic review, where the Commission presented its half-year performance report. Of the total, 12.13 billion Br in goods were intercepted entering the country, while exports worth 918.6 million Br were seized. Enforcement outcomes rose 45.8pc compared with the same period last year. The Commission said it is working with federal and regional institutions and conducting public awareness campaigns to curb smuggling and trade fraud.

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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...