Ministry Seizes Millions in Goods


The Ministry of Revenues seized containers filled with clothes, medicine, electronics and motorbikes valued at 15 million Br destined to be smuggled into the country. Additionally, the Ministry found over 11,000 illegal drugs, amounting to 4.8 million Br. The Ministry also seized other products estimated at 10 million Br that were being imported using diplomatic pouches. The materials include vehicle parts and security cameras that were ordered by the embassy in the capital using diplomatic privileges. “The Ministry is increasing border security steadily and strict supervision is in place,” says Ephrem Mekonnen, Education and communication director of the Ministry. The Ministry was also able to uncover 8.9 million Br in merchandise in the border town of Moyale that were intended to be smuggled. These items were clothing, medicine, electronic goods and 35 motorbikes. “As we are getting more leads from the public, we are now able to seize more illegal trading,” Ephrem said.


Radar

Sovereign Fund Reviews Mid-Year Performance of Line Companies, Calls for Strategic Improvements

Ethiopian Investment Holdings (EIH) launched its mid-year performance review for its portfolio companies, displaying mixed results for the first half of the fiscal year. Ethiopian Sugar Industry Group (ESIG) reached 95.3pc of its sales goal, selling 64,190tn of sugar for 6.1 billion Br—a 132pc year-on-year growth—despite capacity and supply issues. The Ethiopian Petroleum Supply Enterprise (EPSE) met 92pc and 97pc of its purchase and sales targets, respectively, stating it has benefitt...


Radar

Digital Pay Uptake Booms Among SMEs, Visa Study Finds

Over 80pc of surveyed small- and medium-sized Enterprises (SMEs) have started accepting digital payments in the last two years, according to a new Visa report titled, ‘Value of Acceptance: Understanding the Digital Payment Landscape in Ethiopia'. Citing increased convenience, the report indicates reduced fraud risk and improved efficiency as factors in the uptake. A substantial 66pc of these SMEs believe that investing in digital payment technologies will support future business growth. The...


Radar

ILO Tackles Agricultural Wage Gap

The International Labour Organization (ILO) launched the Setting Adequate Wages in Agriculture (SAW-A) Project last week, with support from the German Federal Ministry for Economic Cooperation & Development (BMZ), seeking to promote fair wage policies, enhance collective bargaining, and support the establishment of minimum wage mechanisms to improve the livelihoods of agricultural workers. The sector employs over 80pc of Ethiopia's workforce, making it the country's largest employment sec...