Ethiopia faces pressure to increase public spending amid decreasing support for the poor

Ethiopia has seen a significant reduction in public spending over recent years, raising concerns among international financial institutions and local stakeholders. According to the World Bank, the country has cut its budget allocations for pro-poor policies, prompting calls for increased government spending to support vulnerable populations.

The International Monetary Fund (IMF) has emphasized the need for Ethiopia to enhance its public expenditure in favor of the people, particularly as the nation navigates economic reforms aimed at stabilizing its macroeconomic environment. These reforms are designed to address underlying issues that have led to economic imbalances while promoting sustainable and inclusive growth.

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Source: capitalethiopia
@Ethiopianbusinessdaily

EIC to address security challenges in new fiscal year

The Ethiopian Insurance Corporation (EIC) has announced plans to tackle the country’s security challenges as it aims to achieve its objectives in the current fiscal year. The state-owned insurer revealed that security issues in various parts of the country have hindered its ability to implement planned initiatives in the previous fiscal year.

In its 37th annual management report, the EIC acknowledged that while it had a successful financial year, numerous difficulties prevented it from reaching its full potential in certain sectors. “The results show that we have had a successful fiscal year, but we faced many challenges that limited our reach,” the report stated.

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Source: capitalethiopia
@Ethiopianbusinessdaily

Partner's Content: #Mesirat

ኢትዮጵያ ውስጥ የጊግ ኢኮኖሚን ጥቅም ማወቅ ይፈልጋሉ?

በቢዝነስ፣ በህግ እና በፋይናንስ ዙርያ የሚሰጠውን የጊግ ኢኮኖሚ ስልጠና በቴሌግራም ቦት በኩል ይውሰዱ!

🔗 በ http://www.tg-me.com/mesirat_academy_bot ተመዝግበው ስልጠናውን ይጀምሩ!

ስልጠናውን ሲጨርሱ ሰርተፍኬቶን እንዳይረሱ!

NBE completes licensing process for Forex Bureaus

The National Bank of Ethiopia (NBE) has announced the successful completion of the licensing process for Independent Forex Bureaus, expanding the landscape of foreign exchange operations in the country. This significant move allows more individuals and companies to engage legally in the foreign exchange market, a sector that was previously dominated solely by banks.

In July, the NBE introduced Foreign Exchange Directive No. FXD/01/2024, which outlines the requirements for businesses wishing to operate as forex bureaus. According to the directive, eligible entities must be legally established, owned by Ethiopian nationals, non-resident Ethiopians, or foreign citizens of Ethiopian origin.

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Source: capitalethiopia
@Ethiopianbusinessdaily

Development Bank of Ethiopia to Disburse $43M for Youth, SME Support

Capping more than a year of collaboration, Ethiopia’s policy bank, the Development Bank of Ethiopia, has partnered with the Ministry of Labor & Skills to disburse 43 million dollars in youth entrepreneurship and Small and Medium Enterprise (SME) support.

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Source: shegamedia
@Ethiopianbusinessdaily

#የቴክኖ የአዲስ ዓመት ልዩ የበዓል ስጦታ!

የአዲስ አመት ልዪ ስጦታ ከቴክኖ ሞባይል ኢትዮጵያ፣ ከየትኛውም የቴክኖ ሱቅ የቴክኖ ስማርት ስልክን ሲገዙ አብሮት ካለ ወዳጅ ዘመድ ወይም ጓደኛ ጋር ፎቶ በመነሳት የማህበራዊ ገጾት ላይ በመለጠፍ እና ብዙ ላይክ በማግኘት የዱባይ ደርሶ መልስ የቢዝነስ ክላስ የአውሮፕላን ትኬት፣ ላፕቶፖች፣ የቴክኖ ስማርት ስልኮችን እና ገደብ አልባ የኢንተርኔት ፓኬጆችን ይሸለሙ፡፡

የውድድሩ መመሪያ
1. የቴክኖ ኢትዮጵያን ፌስ ቡክ ፣ ኢንስታግራም እና ቲክቶክ ገጾችን ፎሎው ያድርጉ፡፡
2. የተነሱትን ፎቶ በመረጡት ማህበራዊ ሚዲያ ሲለጥፉ የቴክኖ ኢትዮጵያን ገፅ ከፖስቶት ጋር ታግ ያድርጉ፡፡ ብዙ ላይክ እና ኢንጌጅመንት ያገኘው ተሸላሚ ይሆናል፡፡
- Tag ሲያደርጉን ለ Facebook @ TecnoEt ፣ ለ Instagram @ TecnoMobileEthiopia እና ለ TikTok @ TecnoEt ን  ሜንሽን ማድረግ እንዳይረሱ።)
- በተጨማሪም #TecnoEt2017 ን keyword መጠቀም እንዳይረሱ)

አዲሱ የኤሌክትሪክ ታሪፍ ማሻሻያ ከመስከረም ጀምሮ ተግባራዊ እንደሚደረግ ተገልጿል

የኢትዮጵያ ኤሌክትሪክ አገልግሎት አዲሱን የኤሌክትሪክ ታሪፍ ማሻሻያ ከመስከረም 1 ቀን 2017 ዓ.ም. ጀምሮ ተግባራዊ ማድረግ እንደሚጀምር የገለፀ ሲሆን ከ50 ኪሎ ዋት እስከ 200 ኪሎ ዋት ድረስ የሚጠቀሙ ደንበኞች ድጎማ እንደሚደረግላቸው አስታዉቋል ።

እንደ አገልግሎቱ ገለፃ 50 ኪሎ ዋት የሚጠቀሙ ደንበኞች የማሻሻያ ታሪፉን 75 በመቶ፣ ከ50 እስከ 100 ኪሎ ዋት የሚጠቀሙ ደንበኞች 40 በመቶ እንዲሁም ከ100 እስከ 200 ኪሎ ዋት ደግሞ 4 በመቶ ድጎማ እንደሚደርግላቸው ተመላክቷል።

የአገልግሎቱ ዋና ስራ አስፈጻሚ ሽፈራው ተሊላ (ኢ/ር) በሰጡት መግለጫ "በወር ውስጥ ከ0 እስከ 50 ኪዋስ የሚጠቀሙ ድንበኞች ድጎማ ሳይደረግላቸው በትክክለኛው የታሪፍ ቀመር ቢሳላ 6.01 በኪዋት መክፈል ቢኖርባቸውም ድጎማ በመደረጉ ወደ 0.98 ዝቅ ብሏል ወይም 84 በመቶ ድጎማ ተደርጎላቸዋል" ብለዋል።

በተመሳሳይ ከ51 እስከ 100 ኪዋት ተጠቃሚ ለሆኑ ደንበኞች 61 በመቶ ድጎማ ተደርጎላቸው ከ6.01 ወደ 2.34 ዝቅ እንዲል መደረጉን አስታውቋል ፡፡ እንዲሁም ከ101 እስከ 200 ኪዋት ለሚጠቀሙ ደግሞ 35 በመቶ በመደጎም ከ6.01 ወደ 3.91 የታሪፍ ዋጋ ተቀነሷል ሲል በመግለጫው ገልጿል።

እንደ ዋና ሥራ አስፈጻሚው ገለጻ ይህ የተደረገው የታሪፍ ማሻሻያው (የተጨመረው 6 ብር) የሚከፈለው በአንድ ጊዜ ሳይሆን ከመስከረም ጀምሮ በአራት ዓመት ጊዜ ውስጥ እንደሆነ አመላክተዋል።

50 ኪዋት የሚጠቀሙ ደንበኞች አሁን የሚከፍሉት 27 ሳንቲም እንደሆነ ነገር ግን ከመስከረም ጀምሮ የሚከፍሉት 35 ሳንቲም ይሆናል ሲሉም ስራ አስፈፃሚዉ አስረድተዋል።

Source: capitalethiopia
@Ethiopianbusinessdaily

The draft regulation on VAT is part of the federal government's strategy to broaden its tax base. While it may seem like a smart move for the economy, bankers fear that the lack of clarity could lead to confusion and inconsistent tax applications among financial institutions. They're pushing for a wider definition of "financial service" to encompass newer players in the market, like capital market service providers.

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Source: addisfortune
@Ethiopianbusinessdaily

#EthiopiaGoldMarket Central Bank's policy changes are expected to address long-standing market distortions, stop illicit trading, and stimulate higher gold production. Governor Mamo Mihertu has directed all central bank branches to adjust their declaration rates in line with the new system, a step towards aligning with the federal government's broader fiscal policies. Martha Haileselassie, an advisor to the central bank's vice governor, hopes the new system will create a more competitive and transparent exchange market.

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Source: addisfortune
@Ethiopianbusinessdaily

የአዋሽ ወይን ጠጅ ባለቤት ገበያውን ለቆ መውጣቱን አስታወቀ!

የታዋቂው የሮክ ሙዚቃ አቀንቃኝና በጎ አድራጊ ንብረት የሆነው ኤይት ማይልስ እ.ኤ.አ በ2013 አዋሽ ወይን ጠጅ ፋብሪካን በመግዛት ሲያስተዳድረው ቆይቷል፡፡

በ1936 የተቋቋመው አዋሽ በኢትዮጵያ ውስጥ ወይን እየጠመቀ የሚሸጥ ሲሆን በዘርፉ ከፍተኛ የገበያ ድርሻ ያለው ነው፡፡
የሚያመርታቸው አዋሽ፣ ጉደር፣ አክሱሚትና ከሚላ ብራንዶች በኢትዮጵያ ውስጥ የቤት እቃን ያህል ስማቸው ይታወቃል፡፡

ኤይት ማይልስ ሰሞኑን በድረ ገፁ ላይ ባሰፈረው መረጃ አዋሽ ወይን ጠጅን ሙሉ በሙሉ ሸጦ ከኢትዮጵያ ለቆ መውጣቱን አስታውቋል፡፡ ፋብሪካውን በምን ያህል ገንዘብ እንደሸጠው የገለፀው ነገር የለም፡፡

ማን እንደገዛውም ያለው ነገር ባይኖርም በሽያጩ ሂደት ቨርዳንት የተሰኘ ድርጅት አማካሪው እንደነበረ ብቻ ይፋ አድርጓል፡፡

Source: fidelpostnews
@Ethiopianbusinessdaily

A commitment to sustainable development

On September 1, 2024, Bill Gates, co-chair of the Bill & Melinda Gates Foundation, is on a significant visit to Ethiopia, marking his first trip to the country since the onset of the pandemic. This visit aims to strengthen partnerships with local organizations and grantees dedicated to addressing pressing health challenges and fostering economic opportunities for the Ethiopian people. In advance of his trip, Gates shared insights, in this exclusive interview with Groum Abate, Editor-in-Chief of Capital, into the foundation’s long-standing commitment to Ethiopia, the challenges the country faces in its development journey, and the importance of collaborative efforts to create a healthier, more prosperous future. With a focus on sustainable development, Gates’ visit underscores the foundation’s dedication to supporting the Ethiopian

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Source: capitalethiopia
@Ethiopianbusinessdaily

The draft regulation on VAT is part of the federal government's strategy to broaden its tax base. While it may seem like a smart move for the economy, bankers fear that the lack of clarity could lead to confusion and inconsistent tax applications among financial institutions. They're pushing for a wider definition of "financial service" to encompass newer players in the market, like capital market service providers.

Read More

Source: addisfortune
@Ethiopianbusinessdaily