Ministry Eyes Infrastructure, Data Tracking

May 25 , 2024


[ssba-buttons]

  As the government propels towards a tourism-led economy, infrastructure development to destinations and a system to track the sector's contribution to GDP were identified as points of improvement, during a nine-month report by the Ministry of Tourism. The Standing Committee on Tourism & Trade, chaired by Asha Yahya, raised inquiries while State Minister Selsehi Girma acknowledged shortcomings in infrastructure, particularly telecommunications, roads, and airports. He said integration with the Ministry of Transport and the Ethiopian Roads Administration is vital to improve road networks in popular tourist areas. Minister Nassise Chali said that the tourism satellite account under construction will provide accurate data on employment generation, economic opportunities, tourist numbers, and contribution to GDP. She emphasised the Ministry's efforts to develop a skilled workforce with curriculums, manuals, and training modules in  place. The sector, recovering from the pandemic and civil war is reported to have generated 3.2 billion dollars and 48 billion Br in revenue from foreign and local tourists during the past nine months. However, the Minister also acknowledged challenges related to park management, including illegal hunting, farming, and development projects, threaten wildlife populations. She proposed the eco-tourism approach will foster a sense of ownership and encourage local participation.


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...


Radar

Export Recovery Gains Ground, Industry Still Lags Potential

The Ministry of Industry (MoI) has reported a modest rebound in Ethiopia's manufacturing exports, with revenues climbing eight percent in the 2025 fiscal year to reach 318 million dollars. Minister Melaku Alebel attributed the growth to a gradual sectoral recovery but acknowledged the figures remain well below the country's industrial potential. Speaking at a forum held with 60 top-performing manufacturers, Melaku said the ministry is working to unlock bottlenecks and improve coordination. Th...