Ministry Ushers E-payment System for Tax

Feb 4 , 2023


[ssba-buttons]

Tax and pension payments foresee facilitation through Telebirr as the integrated system between Ethiotelecom and the Ministry of Revenues comes live. According to officials, the online system is hoped to ease the payment process, sending clearance and receipts for customers while updating the Ministry server with timely data. Telebirr, since its inception in 2021, has made 263 billion Br transaction value integrating with 18 banks through 28.2 million subscribers. The financial service App transacted more than 165 billion Br in the last six months, earning Ethiotelecom 82.5 million Br. Officials at the Ministry reported that 60.8pc domestic tax accounts for 138.8 billion Br of the total revenues, collecting close to 226 billion Br through the first half of the fiscal year, a 31pc increase from the previous year. Ethiotelecom signed a memorandum of understanding with the Ministry last week at Skylight Hotel, Africa Avenue.


Radar

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...


Radar

Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...