2merkato

Ethiopia earned near to 44 million US dollars from the export of textile and textile products in the last two quarters said the Ethiopian Textile Industry Development Institute.

The revenue earned from textile exports in the last two quarters exceeded the amount collected in the same period of the previous fiscal year by almost 23 million US dollars according to Sileshi Lemma Director General of the textile development institute.

Ethiopia shipped 40 tons of organic banana to Saudi Arabia as the nation begun exporting the fruit for the first time.

International companies have shown an interest to export organic bananas to meet the high demand on the international market.

An agreement is in the process of being negotiated with one of the parties interested in exporting Ethiopian bananas for the export of 200 tons of the fruit to the Jeddah market every week.

Zefemesh plc, Ethiopia announced plans to launch a mega mall complex. The complex will be cover 9000 m2 and will be seven floors high, to house various services.

The building will be located in the Megenegna commercial area of Yeka district chosen for its strategic location according to Nega Asfaha, Project Management Consultant for the Zefemesh Grand Mall project.

The 4000m2 mall building will be open for business in six months he said.

Seventy percent of tax revenue in Ethiopia comes from less than one thousand people according to the Ethiopian Revenue and Customs Authority in a workshop for small business owners in Addis Ababa.  

962 taxpayers classified as large were responsible for raising more than two-thirds of the tax revenue collected last year explained the tax authority.

The workshop was designed to answer a range of questions on the tax system with officials from the ERCA and the Addis Ababa Micro and Small Enterprises Development Office explaining the details of the tax system.