2merkato

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.

Sunshine Construction, Ethiopia is to finalize an agreement for the management of the first Ethiopian  Marriott Apartment and Courtyard Hotels in the next two months according to sources.

The five-star executive apartment hotel owned and constructed by Sunshine opposite Estifanos Church, and the four-star Courtyard Marriott around Bole Medhanialem in Addis Ababa will be managed by Marriott International.