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The Ministry of Industry, Ethiopia allocated 5130 hectares of land for industrial zones in the last six months.The industrial sites will be dispersed across Dire Dawa, Amhara, Southern and Somali regional states.

700 hectares of the land allocated for industrial use is to be found in the Borena area of Dire Dawa while 350 hectares were allocated in Shinele in Somali Regional State.

1123 hectares are targeted for industry in Kombolcha city in the Amhara Regional State and the capital of the Southern Regional State Hawassa allocated 776 hectares.

The tax authority of Ethiopia, ERCA, collected 35 billion birr on the federal level over the last two quarters. The authority was also able to raise 3.2 billion birr in revenue and tax from Addis Ababa.

The tax collected met the target set by the Ethiopian government in spite of being 3 billion birr less than expected by the tax authority.

The tax raised in the last two quarter exceeds the revenue collected for the same period last year by 10.2 billion birr.

The Private Sector Development Hub is to be transferred to Ethiopia’s national chamber by the Addis Ababa Chamber of Commerce and Sectoral Associations as of April.  

The transfer has been a point of contention between the Ethiopian Chamber of Commerce and Sectoral Associations and its counterpart for the city of Addis Ababa with both laying claim to the management of the PSD hub.

The leaders of the ACCSA and the ECCSA agreed to set up a steering committee co-chaired by the presidents of both chambers to make decisions on strategy and policy directions in regards to projects to be undertaken by the hub.

The Common Market for Eastern and Southern Africa Bank (PTA Bank) approved the 6 million US dollar loan requested by Access Resorts, Ethiopia. The National Bank of Ethiopia has also approved the loan according to sources.  

Access requested the loan for the renovation and upgrade work it expects to carry out on the former Imperial hotel.

The central bank approved the loan because Access was able to prove that it can pay back the loan in foreign exchange noted Alemayhu Kebede, Director of Change Management and Communications at NBE.