MTN Opts Out of Second Telecom Bid

Aug 14 , 2021


The MTN Group will not be participating in the second telecom license bid, its executives announced. It was one of the two bidders that were vying to get the first-ever private telecom license earlier this year. MTN was rejected after offering 650 million dollars, much lower than the 850 million dollar bid from the Safaricom-led consortium. Following the award of one of the two licenses to the consortium, the Ethiopian Communications Authority re-floated the bid this month after adjusting policy restrictions, such as the provision of mobile financial services. The ban that prevented foreign operators to involve in mobile banking services will be lifted, according to officials. The government of Ethiopia is also in progress to sell off a 40pc stake in the state-owned Ethio Telecom. It already called for an expression of interest a month ago, though it is yet to announce the number of interested bidders.


Radar

New Unit to Oversee City Tax Audits

The Addis Abeba City Administration Revenues Bureau has launched a new work unit to ensure the quality of tax audit decisions through a re[1]auditing procedure. According to Adane Sule, the head of the bureau's office, the new audit quality assurance unit will seek to address gaps and malpractices that previously existed due to the absence of a similar body to verify tax audit decisions. He asserts that the unit's main goal is to re-audit decisions, verify their quality and relevance, and correc...


Radar

Shipping Behemoth Beats Profit Target Despite Cargo Dip

Ethiopian Shipping & Logistics (ESL) announced its six-month performance report for the fiscal year, revealing a mixed outcome. While it achieved 95pc of its operational service target, handling 2,880,187tn of cargo, this represents a slight decrease compared to the same period in the previous fiscal year. The ESL attributed this dip primarily to global difficulties, notably Red Sea shipping disruptions. Despite these hurdles, the company reported exceeding its profit targets. Projecting...


Radar

Customs Hits Revenue Target, Cracks Down on Smuggling

The Ethiopian Customs Commission announced that it has exceeded its revenue collection target for the first six months of the fiscal year. The Commission collected 203.75 billion Br, surpassing the planned 190.9 billion birr by 106.73pc, representing a 106.7 billion Br increase compared to the same period in the previous fiscal year. Commissioner Debele Kabeta noted that coordinated efforts with other institutions to prevent contraband contributed to the successful outcome, resulting in the seiz...