Customs Revises EV Import Tariffs


Customs Revises EV Import Tariffs

The Ethiopian Customs Commission (ECC) has implemented revised import taxes to bolster domestic businesses and decrease reliance on imported products. Imported electric vehicles (EVs) now face higher charges with the initiation of 5pc in customs duty. Commissioner Debele Kabeta spearheaded the policy shift last week, ostensibly in line with the country's ongoing import substitution policy, which prioritizes local manufacturing. Kassaye Ayele, the tariff administration director at the Commission, emphasised that the changes were made after careful consideration of their social and economic impacts on local manufacturers. "More revisions will follow," he said. He stated that the changes come with the need to discourage fully assembled imports and entice more manufacturers towards EV assembly and production. Minister Alemu Sime, of the Ministry of Transport, announced the policy shift to Parliament back in February this year, citing rising fuel costs as the reason for reevaluating the country's dependence on conventional vehicles and exploring alternative options. His administration seeks to curb carbon emissions, promote cleaner air, and encourage the adoption of greener technologies in the automotive sector by discouraging the import of fossil fuel-powered vehicles. There are 250 registered electric vehicle importers in the country. Imports of EVs have nearly doubled in the past three years, with an outlay last year of 72 million dollars.

[ssba-buttons]

Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...