Abyssinia Bank makes one billion birr profit
Bank of Abyssinia, one the private banks in Ethiopia, makes the biggest gross profit in the Bank’s history, 1.02 billion birr (close to $32.8 million at the current exchange rate), for the…
Bunna Bank of Ethiopia profit up 46 percent
Gross profit of Bunna International Bank of Ethiopia grew to 625 million birr (over $20 million at the current exchange rate) for the year ended June 30, 2019, which is 46.4 percent…
Ethiopia’s Nib bank makes 928 million birr profit
Nib International Bank Share Company, one of the private banks in Ethiopia announces gross profit of 928 million birr (close $30 million), which is 269 million birr up compared to the previous…
Ethiopia’s Dukem town tax income quadruples
Tax income of Dukem, one of industrial hubs of Ethiopia, has almost quadrupled from it was five years ago, says tax official of the town.
Ethiopia state enterprises debt surpasses $5.6 billion
Debt of twelve state enterprises in Ethiopia surpasses $5.6 billion, according to the latest report of the state enterprises’ regulatory agency.
State enterprises in Ethiopia collect $9.4 billion revenue
Ethiopia’s state enterprises have collected total revenue of 258.51 billion birr (about $9.44 billion) last Ethiopia fiscal year concluded July 7, 2019.
British territories facilitate stealing of Africa’s tax money
British and its territories are the top destinations of the money multinationals are stealing from Africa countries by tax evasion and tax avoidance, new study reveals.
Africa needs disruptive tax policy to tax digital businesses
Panelists of the 7th Pan African Conference on tax and Illicit financial flows, stress that Africa needs disruptive tax policies that respond to the positively disruptive digital businesses such as ubber. “Though…
Pan African conference discusses taxation in digital economy
Focusing on how African countries boost their local revenue in today’s digital economy, experts from across the globe gathered in Nairobi, Kenya for the 7th Pan African Conference on Illicit Financial Flows…
New bank set to enter Ethiopia market
Goh Betoch Bank, a new financial institution that aims to reintroduce mortgage banking (loan for housing construction) in Ethiopia, offers its share to the public.
Ethiopia secures $56 million from contraband trade
The Customs Commission of Ethiopia has confiscated worth 1.6 billion-birr ($56.3 million) items from contraband traders during the fiscal year ended July 7, 2019.
Ethiopia, Djibouti secure finance for joint road project
The government of Ethiopia and the African Development Bank Group on Monday have ink a $98 million grant agreement from the African Development Fund (ADF). The funding aims to help finance phase…
Commercial Bank of Ethiopia becomes top tax payer
The Commercial Bank of Ethiopia (CBE), the state financial institution, has become the top tax payer in Ethiopia paying 3.51 billion birr (about $121 million) during budget year of the country concluded…
EU to help Ethiopia create 400,000 new jobs
The European Union (EU) is set to provide 1.5 billion birr (45 million euros) finance to Ethiopia assisting the east African country create 400,000 new jobs.