Oromia State's Tax Revenues to Double Through Ethiotelecom Deal

Jun 24 , 2023


A new partnership with Ethio telecom is hoped to more than double revenues for the Oromia Regional State. The Oromia Regional Revenue Bureau partnered with Ethiopia's leading telecom provider, Ethiotelecom, leveraging the Telebirr digital platform. The Bureau aims to rake in tax revenues exponentially in the next fiscal year. The partnership is an ambitious undertaking that merges Ethiopia's push for digitisation with the country's expansive taxation agenda. According to Meskerem Debebe, head of the Oromia Regional Revenue Bureau, the objective is to accrue a formidable 130 billion Br in the next year, signalling a significant 55.3pc surge compared to previous collections. The Bureau's tax collection through the Telebirr platform has been off to a promising start since its launch in June this year. Within the first two weeks, it registered more than 39,251 transactions, cumulatively yielding over 44 million Br. Ethiotelecom's Chief Mobile Money Officer, Biruk Adhana, described the extent of the new tax collection infrastructure, which now seamlessly incorporates the Telebirre system. With this integration, 409 tax collection centres spanning across 23 towns, 42 districts, 21 zones, and 323 woredas have become part of this digital network. The system is not only intended for domestic taxation. Four customs revenue stations, in West Arsi (Shashemene), West Harergie (Bordade), East Harergie (Aweday, Babile, Dhegago, and Gursum), and South West Shewa (Teji), will also be utilizing the platform for more streamlined collection procedures.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email