South West Region Appoints Founding Head


South West Region Appoints Founding Head

The newly-formed South Western regional council has elected Negash Wagesho (PhD) as deputy head of the country's newest regional state. Negash Wagesho has served as a state minister for Water‚ Irrigation & Energy. Recently, he was re-appointed as a state minister for Water & Energy by Prime Minister Abiy Ahmed (PhD). The region's council held its first inaugural assembly last week and appointed a house speaker and deputy speaker. During the assembly, the 52 member council passed decisions pertaining to the structuring of the region. The South West Regional State came into being following a referendum held in September this year. About 98pc of the 1.3 million voters registered cast their ballots in favour of the region's formation. The referendum was held Bench Sheka, South Omo, Kafa, and Sheko zones as well as Dawro Special District in the Southern Regional State During its first extraordinary assembly held on October 30, 2021, the upper house of parliament approved the formation of the country's 11th regional state.


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Parliament Overhauls Three Key Sectors

Parliament approved two key proclamations last week seeking to strengthen the justice system and civil registration processes. The first re-establishes the Federal Justice & Legal Institute under the Federal Supreme Court. The Institute will provide mandatory training for law graduates and professional development for judges, aiming to improve the competence and efficiency of legal professionals. Parliamentarians emphasized the importance of centralized pre-service training for all justice p...


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CBE Hits Deposits Record

The Commercial Bank of Ethiopia (CBE) achieved a record 303 billion Br in deposits in the first seven months of the budget year—the largest deposit amount in the Bank's history. Total deposits now sit at over 1.4 trillion Br. The CBE attained 147.6pc of forecasts and now accounts for 58.3pc of the sector's total. The total amount of loans provided by the Bank has reached over 1.3 trillion Br, with 88pc of the 153.32 billion Br in loans disbursed by the mid-budget year going to the private s...


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Revenue Bureau Cracks Down on Alleged Tax Evaders

Addis Abeba Revenue Bureau introduced a debt tracking system that would trace tax evaders. As a result, five vehicles were seized and sold to recover tax debts, generating 10.9 million Br. Currently, 13 additional vehicles and one residential property are in the process of being auctioned. In collaboration with the Financial Intelligence Service (FIS), the Bureau has been tracking taxpayers who try to escape the tax net. The Bureau has also announced that the deadline for submitting req...