Ethiopia launches study to liberalize its financial system
Hit by severe forex shortage once again, the government of Ethiopia has launched a study that will allow to liberalize it financial system.
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Ethiopia closer to liberalize financial sector
The Ethiopian Parliament today passes the African Continental Free Trade Area (AfCFTA) by officially beginning its journey to liberalization of the long awaited financial sector.
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Experts suggest digitization for Africa’s revenue harvest
Digitization has been variously described as pivotal in ramping-up revenue collection for financing Africa’s development.
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Africa advised to abandon tax holidays for investors
Chief Macroeconomist at the UN Economic Commission for Africa (UNECA), Adam Elhiraika, who is co-author of the 2019 Economic Report on Africa, advices African countries to abandon tax holidays for investors.
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Ethiopia secures $4.6 billion from tax
Ethiopian Ministry of Revenue collected over 130.7 billion birr ($4.6 billion) during the first eight months of Ethiopian budget year started July 8, 2018.
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Malabo set to host African Development Bank annual meetings
Malabo, the capital of Equatorial Guinea is set host the African Development Bank’s next Annual Meetings in June 2019, following the signing of a memorandum of understanding between the two sides.
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Ethiopia’s smallholder farmers to use cattle as collateral
The Government of Ethiopia is set to introduce bank directive that will allow smallholder farmers to use their cattle as collateral to access loan from banks.
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Ethiopia introduces electronic tax payment system
As part of modernizing its services, the Ministry of Revenue of Ethiopia is set to fully collect tax from large tax payers using electronic payment system.
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Oromia of Ethiopia meets its tax revenue target
Meeting its target by 99%, the Oromia of Region of Ethiopia collects 9.187 billion birr ($325.8 million) tax in the first six months of Ethiopian Calendar started July 8, 2018.
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Ethiopia’s Tigray collects $43 million tax
Out of the total 1.2 billion birr tax (close to $43 million) income the Tigray Region of Ethiopia has collected in the first six moths of Ethiopian fiscal year started July 8, 2018, over 50% has come from political party companies.
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Ethiopia to allow diaspora invest in banking, insurance
The National Bank of Ethiopia (NBE), the agency in charge of regulating the financial sector of the country, is set to introduce a regulation that will allow Ethiopians in the diaspora to invest in the financial sector.
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Addis Ababa City collects $663 million tax in six months
The Addis Ababa City Government Revenue Authority has collected 18 billion birr (around $663 million) during the first six moths of the Ethiopia’s current fiscal year started July 8, 2018.
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European Investment Bank invests 3 billion euro in Africa
The European Investment Bank agreed EUR 3.3 billion ($3.74 billion) of new financing in 2018 for private sector and infrastructure investment in 20 African countries.
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Ethiopia provides $2.4 billion tax incentive for investors
As part of investment incentive, the Ethiopian Ministry of Revenue has provided duty free import privilege of 65 billion birr (around $2.4 billion at the prevailing exchange rate) in the past six months.
