Tax Authority Collects 21.5b Br in H1

Feb 8 , 2020

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 taxes. The value is 94.5pc of the Authority's target of 23.8 billion Br. Comparing it with the same period last fiscal year, the revenue shows an increment of 2.6 billion Br or 13.6pc. For the current fiscal year, the Authority aims to collect 37.6 billion Br in taxes. In the past fiscal year, the city's tax authority was able to collect 32.3 billion Br.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...