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Auditor General exposes rampant financial mismanagement, massive overdue receivables
Addis Standard On Tuesday, 18 June, 2024, Meseret Demisse, the head of the Office of the Federal Auditor General, presented a startling report to the House of Peoples’ Representatives. The audit revealed significant overdue government income, tax revenue arrears, and unaccounted illegal expenses involving 162 […] More
Ethiopian Federal Agency Deploys ERP to Overhaul $1 Billion Drug Supply Chain
Shega By Daniel Metaferia Ethiopia’s federal agency responsible for supplying pharmaceuticals and medical equipment to health institutions has deployed an Enterprise Resource Planning (ERP) system to streamline its operations. The Ethiopian Pharmaceuticals Supply Service (EPSS), began implementing the ERP software last week and aims to […] More
Ethio Telecom to prioritize local bidders for 10% stake
Mobile World Live By Hana Anandira The Ethiopian government reportedly halted a process to potentially offload a 45 per cent stake in Ethio Telecom to foreign bidders, as local investors begin to show a bigger appetite, Bloomberg reported. CEO at Ethiopian Investment Holdings Abdurehman Eid […] More
Rights groups challenge CBE’s ‘name and shame’ policy, describe it as a ‘violation of privacy law’
CBE initially disclosed that a “system glitch” had exposed a maximum of 801.4 million birr to potential misappropriation. According to CBE President Abe Sano, the incident involved 25,761 customers who withdrew cash from ATMs or made digital transfers during the glitch. More
Ethiopia eyes new tax reforms to power its near trillion-birr budget for upcoming fiscal year
Addis Standard Addis Abeba – With the proposed federal budget nearing one trillion birr for the upcoming fiscal year, the government is preparing to introduce new tax categories and broaden the tax base with the goal of generating an additional 92.5 billion birr in tax […] More
Ethiopian Diaspora Transferring Remittance of Over 4.5 billion USD Annually Over Last Five Years
Ethiopian News Agency Ethiopians in the diaspora and foreign nationals of Ethiopian origin have legally transferred an average remittance of over 4.5 billion USD annually during the last five years, the Ethiopian Diaspora Service revealed. The participation of the diaspora in the calls for nation […] More
Jiji Enters Ethiopian Ecommerce Sector, Targets Growth
Ethiopian Business Review By Eden Teshome Jiji, Africa’s leading classified platform, has announced the launch of its premium services in Ethiopia. This milestone marks a step in Jiji’s growth as it aims to empower small and medium-sized enterprises (SMEs) in the region. Jiji’s premium services […] More
A New Dawn: Ethiopia gears up for economic leap with first-ever stock exchange
Addis Standard By Abdi Biyenssa Ethiopia’s financial landscape is currently on the cusp of a historic transformation as it gears up for the grand unveiling of its very first stock market, the culmination of over three years of strategic groundwork. This journey began in 2021 […] More
- in Business, The Reporter
Private businesses swimming in credit as policy bank switches gears
The Reporter By Ashenafi Endale Three firms account for nearly half of 25 billion in DBE disbursals this year Lemi National Cement, Habesha Cement, and Kegna Beverage are among the top beneficiaries of a turnaround at the Development Bank of Ethiopia (DBE) favoring the disbursal […] More
- in Business, The Reporter
Ethiopia in talks to borrow USD 7 billion from IMF, WB
The Reporter By Ashenafi Endale WFP warns significant devaluation or currency floating will exacerbate food inflation A bulletin obtained by The Reporter reveals that Ethiopian authorities are hoping to borrow close to USD 3.5 billion from the IMF as well as a similar figure from […] More
Ethiopia approves 1 trillion birr budget for next fiscal year
Borkena A day after returning from a trip to South Korea where Abiy Ahmed’s administration signed a memorandum of Understanding to secure a $1billion in loan over four years of time to fund projects, Ethiopian PM Abiy Ahmed presided over the 34th regular session of […] More
Ethiopian Transacts 150 Million USD with French Companies In Year: CEO
Ethiopian News Agency Ethiopian Airlines Group and a French business delegation are discussing bolstering the existing spirit of cooperation between Ethiopian Airlines and various French companies engaged in the aerospace and aviation sector. Speaking during the opening, Ethiopian Airlines Group CEO Mesfin Tasew said the […] More
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