Dukem Quadruples Tax Income in Half Decade

Nov 2 , 2019


Income taxes in Dukem, one of industrial hubs of Ethiopia, has almost quadrupled in the last half decade. The annual total income tax of the town rose from 74.2 million Br to 271 million Br by the last Ethiopian fiscal year, according to Tegenu Daba, head of Dukem's tax bureau. Ten years ago Dukem, located inside the Oromia Special Zone Surrounding Addis Abeba, was a small town with a population of 6,000, according to Tegenu. But the town has been growing fast, because of the expansion of industries in the town. Though a majority of the income tax was collected from manufacturers, the town also mobilises income taxes from employees at the businesses.


Radar

Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


Radar

Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


Radar

Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...