Enterprise Falls Short in Debt Collection

Feb 9 , 2019

The Ethiopian Industrial Inputs Development Enterprise, which was established four years ago to supply material for industries, failed to collect 80pc of its outstanding revenues from its customers. In the first half of the current fiscal year, the Enterprise can only manage to collect 66 million Br out of the 325 million Br in receivables from the material it supplied to companies. While supplying material, the Enterprise gives a six-month grace period for its clients to pay back what they owe, bur most of the companies failed to settle their amount due on time. Due to its uncollected receivables, the Enterprise has filed complaints against buyers in the courts, according to Endale Habtamu, CEO of the Enterprise.


Pivots in Business Maze

A set of projects spearheaded as part of ease of doing business reform with a 7.2 million euro finance from the European Union (EU) is set to improve and navigate the lingering concerns in Ethiopia's business landscape. E-governance projects are undertaken by GIZ International Services and Mckinsey & Company in cooperation with five federal agencies, including the Justice, Trade,  Innovation, Revenues ministries and National Bank of Ethiopia (NBE) are part of the wider plan to improve the d...


Dashen Bank Board Reinstates its Chair

Dashen Bank re-appoints Dula Mekonnen as its Board Chairman, extending his tenure for another three years. The decision was made during a board of directors meeting held at the Sheraton Addis Hotel last week. Dula holds a first degree in electrical engineering from the Adama Science & Technology University and a graduate degree in business management. With a diverse leadership background spanning three decades, Dula has served as a manager at Ethio-Leather Industry Plc and managed Wenji S...


Digital Fuel Transactions Soar Amid Subsidy Drop

Nationwide digital fuel transactions have exceeded the 155.4 billion Br mark, as the Ethiopian Petroleum & Energy Authority released a half-year report last week. Consistent reductions in fuel subsidies have led to the fuel price stabilisation fund hitting an all-time low of 117.4 billion Br, a decrease of 79.6 billion compared to the previous year. The report highlights the successful monitoring of subsidies across the country's 1,589 fuel stations, benefiting nearly 200,000 transporters...