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Nov 24 , 2024

TAXING TIMES AT MERCATO

Business owners in Mercato were reeling from a crackdown on tax compliance that has disrupted the heart of the capital's commerce. Tax authorities have intensified efforts to enforce receipt issuance and tax payments, leading to widespread protests among traders who argue that the move exacerbates a...

Nov 24 , 2024 . By AKSAH ITALO

In Civil Service Overhaul, Pay Raises Spark Hope, Inflation Fuels Doubt

The federal government is to establish a Merit & Wage Board, chaired by the Prime Minister, to oversee wage adjustments for the country's 2.4 million civil servants. The seven-member board includes representatives from the ministries of Planning and Finance, the Ethiopian Statistical Service, the Ethiopian Civil Service Commission, and private sector members. The federal government has launched a major overhaul of its public service sector, pledging to enhance efficiency, transparency, and service delivery. A new bill before Parliament introduces wage reforms and structural changes. ...


Nov 24 , 2024 . By BEZAWIT HULUAGER

Lingering EV Charging Station Regulations Stifle Investors

Months after the Institute of Ethiopian Standards introduced benchmarks for electric vehicle (EV) battery lifespan and capacity, the absence of accompanying standards for charging stations has stalled multimillion-dollar projects and left the industry in limbo. While the safety and performance standards for EVs were hailed in September as a milestone for the sector, their impact has been limited without corresponding implementation measures for critical infrastructure. A regulatory framework for charging stations remains absent, creating substantial bottlenecks. Ethiopian Electric Power (EE...


Nov 24 , 2024 . By AKSAH ITALO

Arada District Land Auction Sees Dwindling Interest

The third day of land auctions in Addis Abeba saw one of the lowest participation rates, with many sites failing to attract sufficient interest despite it coming after a two-week postponement. Held in the Arada, Addis Ketema, and Kolfe districts, the fourth round auction showcased a mixed level of enthusiasm among developers. With 543 bidders competing for 63 plots across three districts, participants expressed disappointment, where a third of the plots offered failed to draw bidders. Despite being a prime business area, Arada saw one of the lowest bidder turnouts in recent years. Only ...

Fortune News

Nov 24 , 2024

Agri Ministry Targets Animal Disease Control, Traceability, Global Standards

Ministry of Agriculture is poised to transform the livestock sector with a bill that introduces a national veterinary laboratory network and a traceability system. The Animal Health & Welfare Act...

Nov 24 , 2024

Sidama Region Fuel Shortage Fuels Parallel Market Surge, Testing Officials' Resolve

Sidama Regional State is gripped by a severe fuel shortage, forcing regional officials to confront a thriving parallel market and deep-seated issues within the petroleum supply chain. Despite state in...

Nov 16 , 2024

MALARIA SURGE, HEALTH SYSTEMS BUCKLE

Malaria, a persistent threat in rural areas, is resurging with alarming intensity in 2024, exposing deep-rooted systemic issues aggravated by climate change and inadequate health infrastructure. In th...

Nov 16 , 2024

Land Auction Sets High as Speculation Fuels Property Boom

A bidder stunned land auction participants by offering a record-breaking offer for a plot in the Nifas Silk Lafto District. Her bid, about 744pc higher than the next highest offer, could come with an...

Nov 16 , 2024

Central Bank Seeks Greater Autonomy

The establishment of a monetary policy committee within the National Bank of Ethiopia (NBE) was added to the proposed re-establishment of the regulator. The committee will consist of seven members, in...

Nov 16 , 2024

Capital Market Vision Takes Shape with Securities Exchange on the Horizon

A three-day summit last week set the stage to launch the long-awaited Ethiopian Securities Exchange (ESX), bringing together high-profile figures from the financial and policy spheres. Governor Mamo M...

Commercial Banks Commit to Sustainability Guidelines

A new set of guidelines to help commercial banks integrate environmental, social, and governance (ESG) considerations into their business planning, risk management, and lending practices was official...

Nov 9 , 2024

BLACKOUTS SURGE - FRUSTRATIONS MOUNT

Frequent power outages disrupt daily life and hinder economic activities across the country and Addis Abeba, as residents and businesses struggle with an unreliable electricity supply. The persistent...

Nov 10 , 2024

Leather Institute Skins Quality Troubles with Traceability

A pilot program to establish traceability for hides and skins throughout the leather value chain has been introduced by the Africa Leather & Leather Products Institute (ALLPI). Its proponents say...

Nov 10 , 2024

Customs Tightens Duty-Free Steel Import Rules to Curb Abuse

Federal authorities have tightened duty-free import rules for steel, imposing a stricter cash deposit requirement to safeguard against abuse. Under the new requirement, investors must deposit cash equ...

Nov 9 , 2024

Fed Targets Hidden Fortunes in Sweeping Legislation

Parliament is wrestling with a contentious bill that would grant the Ministry of Justice sweeping powers to trace, investigate, and seize assets acquired through "unexplained means." The bill, debated...

Nov 9 , 2024

IMF Acknowledges Reform Progress, Prescribes Cautions on Economic Recovery

International Monetary Fund (IMF) has projected that Ethiopia's economic recovery under the new macroeconomic reform will advance slowly, tempered by tight financial conditions and lingering uncertain...

Nov 9 , 2024

Under Pressure, Shareholders Begin Talking Mergers to Fortify Against Rivals

Apprehensive of a rapidly changing financial sector, banks have shareholders weighing mergers and acquisitions to strengthen their foothold against impending foreign competition and fear of failing to...

Nov 3 , 2024

Ethiopian Airlines Takes Off a Spirited Bid to Rent Forex Bureaus

Ethiopian Airlines Group has extended an invitation to financial institutions and newly licensed foreign exchange bureaus, offering the possibility to rent space within the bustling Terminal Two at Bo...

Nov 3 , 2024

Fertiliser Bid Falls Short, Exposing Fragile Supply Chain During Global Price Surge

Federal authorities' efforts to secure sufficient fertiliser for the vast agricultural sector have hit a snag, as a recent international tender failed to attract enough bidders to meet farmers' needs...

Nov 3 , 2024

Ministry Embarks on Ambitious Education Reform

Parliament received a bill last week mandating year-long training and biennial license renewals for school teachers, principals, and supervisors. If approved, the Ministry of Education will oversee th...


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During Taxing Times, Tax Hunt Tests the Limits of an Unsteady Economy

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Mercato's Taxing Transformation Tests Tax Authorities

Business owners in Mercato, the largest open market, were left stunned by a sudden gridloc...

Agenda | Nov 24 , 2024 . By AKSAH ITALO

TAXING TIMES AT MERCATO

Business owners in Mercato were reeling from a crackdown on tax compliance that has disrup...

Fortune News | Nov 24 , 2024

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