Regional State Arrests More Suspects Under Tiret Case

Feb 2 , 2019


[ssba-buttons]

The Amhara Anti-Corruption Commission has brought five more suspects before the court, accusing them of involvement in corruption at Tiret Corporate. Three founders of Alpalma S.C, Eyerusalem Birhanu, Bethlehem Birhanu and Aynalem Haileleul; Gizachew Zewdu, founder of Bahir Dar Motors; and Mitiku Beyene, deputy CEO of Ambassel Trading House Plc, were arrested last week and appeared before the Regional High Court in Bahir Dar. The investigators have requested the court hold the suspects in custody for 14 days while they continue their probe, and the case was adjourned until early this week. Two weeks ago the Commission brought Bereket Simon, founding board chairperson of Tiret Corporate, and Tadesse Kassa, former CEO, before the court accused of allegedly misusing 35 million Br of public money. The Court had similarly granted investigators hold the suspects in custody for 14 additional days while they conduct their probes.


Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...


Radar

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...


Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...