OVERTIME SHIFTS


OVERTIME SHIFTS

Horses and carriages function as crucial components of the construction labour force around the Bethel area. Hiring a staggering two million people temporarily annually the construction sector is one of the biggest employers in the country’s economy. Unfortunately, these horses find themselves caught in the daily grind of expansive real estate projects. Ethiopia has one of the highest equine ownerships in the continent with close to 2.2 million horses, nine million donkeys and little less than half a million mules.  


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Customs Commission Sets Another Franco Valuta Deadline

The Ethiopian Customs Commission has given importers who used the franco valuta system up to December 26 to finalize the import of their goods. This pertains only to importers who purchased the merchandise and registered their import documents to the Commission before November 7. The Ministry of Finance had previously offered a two-week window for merchandise imports made through the scheme to finalise customs procedures. It is to be recalled that the government banned merchandise imports under...


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National ID Strides Further to Mandatory Field

The National Bank of Ethiopia issued a notice to all banks mandating the use of the National ID for new bank account openings starting January 1, 2025, for branches in Addis Abeba while the same will apply for branches in major cities on July 1, 2025. All branches nationwide must comply starting January 1, 2026, while existing account holders are required to present their National ID by December 2026. The Central Bank stated its objectives for the move are to enhance the security of the financi...


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Hibret Climbs Further Profit Heights

Hibret Bank posted a surge in net profits to reach 2.3 billion Br, traversing economic adversities. The Bank grew its revenues to 13.23 billion Br—an increase of 28.1pc from the previous year. Total assets were registered at 96.58 billion Br, exhibiting a 16pc increase, while total deposits rose by 15.6pc to reach 74.65 billion Br. With loans and advances sitting at 68.89 billion Br, Earnings Per Share (EPS) stood at 383 Br. The Bank opened 26 new branches during the year to reach a total o...


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