2merkato

The year on year inflation rate in Ethiopia fell to 29.8% in April from 32.5% in March showing a decrease for the second straight month according to the Central Statistics Agency.

Year on year food prices also lowered to 36.7% from 40.9% in March while non-food inflation decreased to 19.6% from 20.4% the previous month said the agency.

The inflation rate month on month also decreased to 2.1% in April from 4.6% in March showed the statistics.

The Revenues and Customs Authority of Ethiopia has requested that all Non Governmental Organizations to submit their service and goods procurement lists for the past four years.

ERCA has requested that the NGOs received a letter from the authority with an attached form to deliver the requested information according to sources. The organizations are expected to deliver the information within a month.

The NGOs are expected to state the name of their suppliers for goods and services procured in the past four years along with their tax identification number. The authority requires all goods and services procured in the country and imports to be filled out on the form with the full information of the providers.

Ethiopian Entrepreneur Bethlehem Tilahun, founder and Chief Executive of Sole Rebels footwear was selected by The Schwab Foundation for Social Entrepreneurship for the Social Entrepreneur of The Year Award at the 2012 World Economic Forum on Africa. The World Economic Forum is taking place in Addis Ababa from the 9th of May to the 11th.

The panel for the award included Quincy Jones, American music icon and Muhammad Yunus Nobel Prize Laureate and father of microfinance amongst other international luminaries.

Bethlehem is the first Ethiopian to win the award.

The Revenue and Customs Authority in Ethiopia cautioned the businesses in Dire Dawa and Harar to handle receipts better.

Officials from the authority met with members of the business community last week and warned that businesses were not issuing receipts for all their transactions.

The government will enforce the law if businesses do not put in cash register machines and use them appropriately said federal and local officials to participants.