Latest Business Alerts

Tax Authority Planning to Earn More than 101 Billion Birr

The Ethiopian Revenues and Customs Authority plans to raise more than 101 billion birr in this budget year from domestic taxes, duty taxes, customs and tax revenues.

The projected revenue, although significantly higher than previous revenue, is not over ambitious as it translates to just 11.54% of the Gross Domestic Product according to Melaku Fenta, Director General of ERCA.

The authority is preparing to meet the projection and plans to continue its efforts to broaden its tax-base, enforce the use of cash register machines and improve the capacity of the tax system and of its personnel he said.

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Ethiopia to Promote Coffee Varieties

Ethiopia is to further promote the different varieties of coffee on the world market according to the Ethiopian Intellectual Property Office.

Trademark registrations for Ethiopian fine coffee brands such as Sidama, Harar, Yirgacheffe have received recognition from an estimated 40 countries and 113 companies according to Berhanu Adelo, Director General of the EPO at a forum organized under the theme of 'Ethiopian Fine Coffee Trade Marking and Licensing Initiatives'.

Activities to increase the recognition of Ethiopian coffee varieties on the international market are underway in collaboration with Arnold and Porter and other institutions according to Berhanu.

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Association of Ethiopian Architects Reveals Strategic Plan

The Association of Ethiopian Architects revealed its strategic plan for the 2012-14 period. The association presented its current activities and financial report.

The association has been unable to fulfill its potential in the past because it lacked a strategic plan said Addis Mebrahtu, President of the AEA.

Architecture is a thriving profession but one that is experiencing some challenges associated with inadequate training curriculum, absence of teaching space and studios for new students he noted.

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Bombardier Aircraft Increasingly Popular in Africa

Bombardier planes on order and in service in Africa under Ethiopian Airlines and other operators total to more than 40 aircraft according to the international aircraft manufacturer.

The Bombardier aircraft that are in service in Africa include the Q400, Q400 NextGen, C series and CRJ family of airplanes.

Some of the forty Q400 and Q400 NextGen aircraft that are under order at this time are a part of the company’s designs to deliver a projected 180 business jets in 2012 according to Eric Martel, President of Bombardier Customer Services and Specialized and Amphibious Aircraft. 

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Ethiopian Privatization Enterprise Earns 6.7 Billion Birr

The Ethiopian Privatization and Public Enterprises Supervising Agency earned 6.7 billion birr in revenue in the last fiscal year which showed an increase of 5.7 billion birr from the 1 billion birr projected for the enterprise.

A significant percentage of the revenue raised by PPESA, estimated at 6.18 billion birr, was raised from the auction of public companies up for privatization. Payments deferred from transactions made in previous years accounted for 464 million birr while 50 million birr was raised from transfer differences, fines and other sources of revenue.

The Agency also earned 8.7 million birr from lease sources.

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