Achieving 129% of its target, the National Lottery Administration (NLA) of Ethiopia earns 114 million (around $4 million at the current exchange rate) profits during the first six months of Ethiopia calendar started July 8, 2018.
The plan of the administration for the period was to generate 88.1 million birr. The plan for the whole year was to generate total revenue of 172 million birr (around $6.1 million), Gezahegn Yilma, Senior Communication Expert at NLA told NewBusinessEthiopia.com.
The statistics from NLA shows that for many years the profit of the state owned company has been increasing except declining three years ago from the previous year by some 17 million birr.
In the country gambling is prohibited by law, NLA has been one of the profit making government institutions monopolizing the lottery business. Recently it has opened its doors for private players to be engaged in sport betting.
NLA has also been regulating companies and institutions, which use draws to award prizes to their customers and promote their products.
NLA’s mission statement states that it is working to increase the entertainment and satisfaction level of the public from lottery games. Its activities include to effect prompt payment to prize winners as well as to generate more revenue by allowing private sector participation in selected game areas.