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Jun 8 , 2019

Austere Budget Relies on Tax

The new austere budget bill proposed for the coming fiscal year aims to cover three-quarters of the 386.9 billion Br budget from domestic tax revenue. Approved by the Council of Ministers yesterday...

Jun 8 , 2019

LADY DISRUPTOR

Samrawit Fikru (right), founder and CEO of Hybrid Designs, the company behind the internet and phone-based ride-hailing service RIDE that is disrupting the traditional taxi business in Addis Abeba, wa...

Jun 8 , 2019

Sugar Privatisation Draws Ten Companies

Ten local and international companies have expressed interest in participating in the privatisation process of 13 state-owned sugar factories. The companies responded to a Request for Information ...

Jun 8 , 2019

Shipping Giant Invests in Heavy Trucks

The state shipping giant has begun the process of procuring 150 heavy trucks and 12 car carriers with an investment of one billion Birr to transport freight through the Ethio-Djibouti corridor. The...

Jun 8 , 2019

Commission to Unravel Mining Industry Muddle

Concerned with the ever declining revenues from the export of minerals, the government has started surveying five regional states endowed with rich mineral deposits. Aimed at preventing corruption...

Jun 8 , 2019

Bill Loosens VAT Reporting, Clearance Steps

Companies will be entitled to receive refunds for the Value Added Tax (VAT) they paid while buying capital goods over 100 million Br within a month, according to a new bill that is in the making. T...

Jun 8 , 2019

MIDROC to Expand Share of Dairy Market

Lame Dairy, the processor of Shola Milk and one of the 70 subsidiaries of MIDROC Ethiopia Technology Group, plans to double its production capacity and expand its facility. The expansion, which is...

Jun 8 , 2019

Three Mining Firms Venture into Benishangul

The government issued three mining concessions last week, pushing the total licences it provided this fiscal year to 21, the largest number in the Ministry's history. The three concessionaires will...

Jun 8 , 2019

South Sudan's Economy in a Tight Spot: IMF

The International Monetary Fund (IMF) issued an alarming report on South Sudan that says the country is in a serious economic crisis due to a high level of displacement, a mounting inflation rate and...

Jun 8 , 2019

Black Lion Receives Laboratory Equipment Worth $2m

An American medical manufacturer, Beckman Coulter, installed two new pieces of medical laboratory equipment at Black Lion Specialised Hospital valued at two million dollars. The two laboratory faci...

Jun 9 , 2019

Council Approves 386.9b Br Federal Budget

The Council of Ministers approved a budget bill that allocates 386.9 billion Br for the coming fiscal year's federal budget, in today's session. The bill that has been sent to parliament allocates...

Jun 1 , 2019

What Went Wrong with Ethiopia’s Policy Bank?

A Turkish businessperson, Mehmet Yesildag, came to Ethiopia five years ago with anticipatory energy and big hopes. He planned to establish a large leather factory with a production capacity of manufac...

Jun 1 , 2019

Stalled Projects Pour 44b Br Down the Drain

The government has allocated an additional 44.3 billion Br from its budget to prop up 290 poorly planned and managed public projects, disclosed an audit report issued by the Office of the Auditor Gene...

Jun 1 , 2019

Government to Draft First Ever Anti-Corruption Policy

The government has started the process of drafting the first national anti-corruption policy and strategy document that aims to coordinate and implement anti-corruption actions and preventive measures...

Jun 1 , 2019

Chinese Firm Doubles Industrial Parks it Operates

Huajian Dongguan Hua Bao Shoes Co Ltd increased the number of industrial parks it operates to two by adding Jimma Industrial Park to its list. The Chinese firm has fully leased out the entire indus...

Jun 1 , 2019

World Bank Backs Private Sector Power Investment

Ethiopia secured 200 million dollars in investment guarantees for the power sector involving the participation of private companies in the renewable energy generation industry. The World Bank, thro...


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