Ministry Collects 306b Br Last Year

Apr 13 , 2019


[ssba-buttons]

The Ministry of Revenues collected 306 billion Br in last fiscal year, Adanech Abebe, minister of Revenues, announced during a discussion of the achievements and challenges employees of the Ministry and Customs Commission face. Reforms introduced in human resources and procedures were pointed out to have contributed to the improved returns. The Ministry has modernised its system, improved procedures and reviewed laws and regulations in the specified period, the minister noted. In addition, restructuring of the institutions was made to address problems associated with customs and revenues, according to the Minister. Another improvement has been in raising the number of customs checkpoints from 55 to 94 in the past year. Some 1.3 billion Br of illegal import and export items, as well as currencies of different countries, have been seized at checkpoints.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...