Customs Commission Sets Another Franco Valuta Deadline


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 the Franco Valuta scheme to address foreign exchange imbalances and stabilize Birr. The move was aimed at curbing unregulated imports of non-essential goods. According to the Commission, the value of franco valuta imports reached 1.95 billion Br in the first quarter of the 2023/24 fiscal year.

[ssba-buttons]

Radar

City Unveils Major School Expansion Across 11 Districts

Addis Abeba City Administration has launched 150 education projects valued at over 5.2 billion Br ahead of the 2026 academic year. Spread across the capital's 11 districts, the rollout includes 14 newly built schools and upgrades to 64 existing facilities, adding 1,655 classrooms alongside ICT labs, libraries, and sports fields. City officials say the investment is part of efforts to improve access and quality of education, with infrastructure designed to accommodate students with disabilitie...


Radar

Santim Pay Launches Locally Assembled POS Machines

Santim Pay Financial Solution S.C. has begun assembling Point of Sale (POS) machines in Ethiopia, with its new facility assembling up to 300 units daily. The devices run on locally developed software and are priced below imported alternatives. Directed towards domestic commercial institutions, the move supports digital payment growth while reducing dependency on foreign suppliers. The company has also launched repair services to boost device durability and service availability. The fintech compa...


Radar

KEFI Confirms Key Milestones, Kickstarts Tulu Kapi Resettlement

The London-listed KEFI Gold & Copper has initiated the community resettlement process for their Tulu Kapi gold project found in the West Welega Zone. Funded from KEFI's own reserves ahead of broader project financing, underscoring the urgency to commence full development. Resettlement is being implemented by the Ethiopian government under World Bank standards. The announcement was made during a mining forum held at the Ethiopian Embassy in London, which was co-hosted by the British Embass...