Customs Tightens Noose on Car Imports Amid Embargo

Sep 2 , 2023


[ssba-buttons]

Vehicles reported under the ownership of returning Ethiopians from abroad will be subjected to 10pc penalties after paying full duties while purported owners need to be physically present for the clearing process. According to a letter penned by Commissioner Debele Kabeta last week, importers have been utilising the privileges of returning diasporas for their own purposes despite suspensions on the issuance of letters of credit from banks for car imports by the Ministry of Finance in October. A week prior, another letter was issued by the Customs Commission to communicate the restrictions on car imports, only leading to confusion on items already in transit or at customs branch offices. Car prices have gone through significant increases in the two weeks since the pronouncements by the commission. Embassies, international organisations and institutions granted special privileges by the Ministry will not be subjected to stipulations according to the notice. While the initial prohibition was ushered in during a period of conflict which led to the country's forex reserves dwindling, it has been maintained throughout the year after the peace accord, signalling the aftermath of war is economically much more catastrophic.


Radar

Ministry Showcases Arada Branch Revenue Gains

Arada District's Land Development & Administration Branch pulled in over 150 million Br in just 70 days, beating its 90-day target. Most of the revenue came from annual lease collections and service fees. The office also billed 126 property owners for roof and fence valuations, already securing 20 million Br of the expected 46 million Br. Officials issued warnings to 15 allottees slow to start construction and recommended land right revocations in 11 cases. Leaders credited a more efficient...


Radar

Ministry Backs Blended Finance for Micro, Small Enterprises

The United Nations Capital Development Fund (UNCDF) is partnering with Ministry of Finance to expand financial access for micro and small enterprises through blended finance and digital tools. Off-balance-sheet facilities are designed to attract private investors and Development Finance Institutions (DFIs) by reducing risk and improving capital flow. Digital platforms, including mobile money and digital IDs, will lower transaction costs and broaden reach. The initiative supports job creation and...


Radar

National Electricity Network Set for Upgrade

Ethiopia Electric Utility (EEU) plans to expand the national electricity grid by 8,689 km in the 2026 fiscal year, Yohannes Tonja, head of Performance Monitoring and Evaluation, said. The rollout includes 86,789 km of medium-voltage lines, 92,572 km of low-voltage lines, and pre-maintenance on transformers. EEU will also rehabilitate 1,218 km of medium-voltage lines, install 1,893 transformers, and upgrade 308.7 km of low-voltage infrastructure. Operational targets include cutting power interrup...