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Feb 15 , 2020

House Legislates Excise Tax Law

Lawmakers finally legislated the controversial excise tax law on February 13, 2020, with two opposing and seven votes abstaining. The new law, which aims at doubling the current excise tax contribu...

Feb 15 , 2020

Abyssinia Bank Opens Full-fledged IFB Branch

Bank of Abyssinia (BoA) has launched a full-fledged, interest-free banking branch called Ameen at Belay Zeleke Building near Semen Hotel. The Bank dedicated one entire floor of its seven-storey bui...

Feb 8 , 2020

Ethio Telecom Upgrades Internet Service

Ethio telecom, the state telecom monopoly, has launched 4G LTE, an advanced fourth-generation network in the capital that delivers higher data connection speeds. The company invested 173 million Br...

Feb 8 , 2020

Tax Authority Collects 21.5b Br in H1

The Addis Abeba Revenue Authority collected 21.58 billion Br in tax revenue during the first half of this fiscal year. The revenue was collected in direct and non-direct taxes and from municipal ta...

Feb 8 , 2020

Premier Inaugurates Welmel Irrigation Dam

Prime Minister Abiy Ahmed (PhD) inaugurated the Welmel River Irrigation Development project in Oromia Regional State. Built on Welmel River in Bale Zone, the project has the capacity of watering 1...

Feb 8 , 2020

Gebeya Secures $2m Seed Money

Gebeya Inc, a local education technology firm that runs an online software marketplace, sealed two million dollars in seed  round money from three investors. Partech, Orange Digital Ventures and C...

Feb 8 , 2020

Addis Gets 120 More Buses

The Addis Abeba City Transport Authority has deployed 120 new buses to ease the city's shortage of transportation. Out of the total buses, the Authority designated 20 of them that can carry 35 pass...

Feb 8 , 2020

WB, Gov't Join Hands for Urban Dev't Programme

Ethiopia has started conducting the third phase of the Urban Institutional & Infrastructure Development Programme that targets 117 urban areas at a cost of 859 million dollars. The consultancy...

Feb 8 , 2020

Cost of Living Dips for Third Month

Headline inflation, a measurement of the cost of living, dipped for the third consecutive month, reaching 18.7pc last month, according to the Central Statistical Agency (CSA). The rate showed a 0....

Feb 8 , 2020

Diaspora Trust Fund Finances Five Projects

The Ethiopian Diaspora Trust Fund (EDTF) has pledged its first-ever grant for five projects with a total investment of close to nine million Birr. More than 400 projects were tabled to the Fund, an...

Feb 1 , 2020

Parliament Legislates Investment Law

Parliament approved a new investment law, which is expected to relax the investment environment in the country, on January 30, 2020. Drafted by the Ethiopian Investment Commission law revision task...

Feb 1 , 2020

TAF Inaugurates Aviation Depot

TAF Oil Plc has inaugurated a semi-automatic, jet-A1 fuel storage depot and filling facility. The depot was built for 380 million Br in the compound of Ethiopian Airlines on January 28, 2020. The d...

Feb 1 , 2020

Ethiopia Seeks $1b for Humanitarian Aid

Seven million people need humanitarian aid including emergency food assistance, according to the National Disaster Risk Management Commission (NDRMC). The Commission conducted an assessment beginni...

Feb 1 , 2020

ECX Transacts 17.5b Br in Six Months

Ethiopia Commodity Exchange (ECX) traded 338,253tn of commodities worth 17.5 billion Br in the first half of this fiscal year. The amount exceeds the target set for the period by five percent and h...

Feb 1 , 2020

Enterprise Generates 1.2b Br Gross Profit

The Ethiopian Shipping & Logistics Service Enterprise (ESLSE) grossed more than 1.2 billion Br in profit in the past six months of the current fiscal year. The profit represents 104pc of the En...

Feb 1 , 2020

Emergency Service Provider Joins Market

KECH, a roadside emergency firm, has launched a service that provides fuel delivery, battery jump starts, and flat tire changing for vehicles that breakdown on roadsides. The company also provides...


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