Ethio Lease Receives 44 Tractors

Apr 25 , 2020


[ssba-buttons]

Ethio Lease, a subsidiary of Africa Asset Finance Company Inc, has received 44 tractors as part of the first equipment that will be distributed to farmers through the Agricultural Transformation Agency's (ATA) mechanisation centres. The company, which has already leased 13 tractors, signed a Memorandum of Understanding (MoU) with the Ministry of Agriculture and ATA in February 2020 to lease tractors to farmers. The collaboration is expected to reach over 60 centres and provide equipment worth 150 million dollars to be leased over the next three years. The tractors will be used by farmers that are unable to procure the tractors themselves. Ethio Lease, the first foreign-owned lease company in the country, operates by buying equipment and leasing it to customers with an option to buy the equipment from the company at the end of the lease period. The company became operational in August 2020 and buys equipment from abroad through its parent company and leases it to businesses in agriculture, healthcare, energy, food processing and manufacturing.


Radar

Somali Region Advances Budget Independence as Revenues Rise

Somali Regional State is moving closer to fiscal independence, with nearly half its budget now funded locally. Officials point to rising agricultural output and stronger tax enforcement as key drivers behind growing revenues. The region plans to cover 32.5 billion Br from its own resources in the upcoming fiscal year. Communication Head Mohammed Abdi credited last year's tax collection of 18 billion Br, exceeding the 17 billion Br target, to agriculture, khat, and other taxable goods. The reg...


Radar

Environmental Protection Authority Shuts Down Polluters

Addis Abeba's Environmental Protection Authority (EPA) has taken enforcement action against 3,249 manufacturers and service providers found violating environmental standards in the 2024/25 fiscal year. The violations, ranging from air and noise pollution to improper waste disposal, were identified during inspections of 14,872 businesses citywide. Penalties included warnings and closures, with shutdown orders issued to six plastic factories, 23 block factories, a soft paper plant, 102 nightclu...


Radar

Ministry Mandates Full Electronic Clearance for Top Taxpayers

Taxpayers under the Ministry of Revenues' Medium No. 1 branch will have to ditch paper filings and switch entirely to the e-Clearance system for non-audited services starting August 1, 2025. The mandate, routed through the Ministry's e-filing portal, is pitched as part of a broader push to modernise tax administration and advance the government's digital agenda. Officials say the platform lets users process clearance requests remotely via the Fayda national ID, cutting out manual paperwork. A...