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

Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


Radar

Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


Radar

Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...