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EEP Hires Spanish Consultancy Firms

Jan 18 , 2020

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Ethiopian Electric Power (EEP) hired two overseas firms to provide consultancy services in the areas of expense reduction and increasing revenues. For the service that is expected to last for one year, AF-Mercados and AF Consult will be paid 68.5 million Br. The expense will be covered with financial support from the World Bank Group. This project is the first in Ethiopia for both Spanish companies. The agreement was signed on Thursday, January 16, 2019, between Abraham Belay (PhD), CEO of EEP, and Miguel A. Hernandez, managing director of AF-Mercados.

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New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...

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City Tables 350B Br Budget Plan for Upcoming Fiscal Year

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Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...

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