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.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

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ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...