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Jul 18 , 2021

Coffee Authority Doubles Down on Vertical Integration

Authorities in the coffee sector plan to cement a procedure that enables exporters to buy the cash crop directly from suppliers outside the Ethiopian Commodity Exchange (ECX) floors, a system industry...

Jul 18 , 2021

Commission to Give Importers Access to Duty Valuation Process

The Ethiopian Customs Commission (ECC) has decided to give importers access to its price valuation database, for long a source of dispute between its officers and the business community. This will...

Jul 18 , 2021

Excise Tax Plummets Beverage Productivity by 20pc

A significant decline in the production of non-alcoholic beverages has hit the bottling industry owing to changes the federal government made on excise tax last year. The 11 percentage point increa...

Jul 18 , 2021

Credit Cooperatives Gear Up for Interest Free Services

Saving and credit cooperatives across the country are racing to begin providing interest-free saving services, particularly in unbanked rural areas and regions with large populations adhering to the I...

Jul 18 , 2021

Finance Ministry Retakes Reins on Investment Incentive Provision

The federal government has centralised the approvals for investment incentives as the Ministry of Finance takes over the responsibility from various agencies. The Ministry assumed the authority bef...

Jul 18 , 2021

Hiber Sugar Aground in Inefficacious Past, Indistinct Future

A shareholders assembly called to vote on the destiny of Hiber Sugar S.C. brought more dispute than resolution when it was concluded. It was the second gathering in three months, held as the compan...

Jul 18 , 2021

Eyeing Competition, Ethio Telecom Readies for 5G Expansion

Ethio telecom is undergoing network infrastructure and system enhancements to pilot 5G networks in the coming year. Investing 41 million dollars, the state-owned giant has upgraded its business man...

Jul 18 , 2021

DEPOSIT RUSH, FLEETING MONEY

There is a bank branch and representative in every nook and cranny in Addis Abeba these days, the latter of which accost any adult they can find to open an account. As another fiscal year faded away,...

Jul 18 , 2021

New Directive to Govern Construction Joint Ventures with Overseas Firms

Authorities have introduced a new directive that would legalise partnerships between local contractors and global construction firms to work in a joint venture. Drafted by the Ministry of Urban Dev...

Jul 18 , 2021

Historic Addis Abeba Sites to Make Way for Ethiopia Hotel Expansion

Landmark sites off Churchill Avenue, including an 80-year old structure in the National Theatre neighbourhood, are to be demolished after six years of dispute over the historical value of the properti...

Jul 11 , 2021

LAST SESSION, TURBULENT YEAR

Prime Minister Abiy Ahmed (PhD) turns to Tagesse Chafo, speaker of Parliament, during a break at a session where he addressed MPs for the last time for the sixth year in session. The next time parliam...

Jul 11 , 2021

With Digital Transaction Directive, CBE to Consolidate Further

Federal agencies will soon use the state-owned Commercial Bank of Ethiopia (CBE) as their facilitator for electronic payments, paving the way for close to 198 federal government entities to settle pay...

Jul 12 , 2021

Ethiopia Hopes for $1.5b in Foreign Aid to Finance Looming Budget Deficit

The federal government plans to get 66.8 billion Br (1.5 billion dollars at the current exchange rate) in foreign aid to finance its budget deficit for the fiscal year, projected to reach 144 billion...

Jul 11 , 2021

Central Bank Imposes New Limits on Fintech Firms

Foreign nationals of Ethiopian origin are allowed to invest only in foreign currency should they get into the business of payments system operators or instrument issuers. The new rule comes into force...

Jul 11 , 2021

Addis Abeba Hotels Closed Temporarily Over 'Inciting' Music

Authorities have shut down two prominent hotels Addis Abeba, alleging that they have played "inciting music" following the withdrawal of federal troops from Tigray. Harmony and Kaleb hotels on Djib...

Jul 11 , 2021

Edna Mall Receives Offer Over Three Times Auction Threshold

A landmark property in the busiest neighbourhood of Addis Abeba has received an offer that was over three times the threshold auction price of 237 million Br. A Chinese industrialist, East Steel Pl...


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