2merkato

Ethiopia's Ministry of Finance is tightening its grip on tax collection with a new directive requiring excise stamps on specific goods. This move targets producers and importers of spirits, tobacco, bottled water, beers, cigarettes, and cigarillos, with the potential to expand to other products.

The Ethiopian Deposit Insurance Fund (EDIF) is setting its sights on collecting Birr 6 billion in premiums this fiscal year. Their primary focus is on protecting deposits held by microfinance institutions, banks, and especially small depositors.

Ethiopia's National Bank Governor, Mamo Mehretu, highlighted the transformative potential of digital financial services during a recent panel discussion on the Digital Ethiopia 2025 strategy review. His focus was on the upcoming changes driven by new regulations and increased competition.

The Ethiopian Capital Market Authority is working on establishing credit rating services to accredit the financial status of borrowers, aiming to foster confidence between creditors and debtors. Addis Chamber of Commerce, along with International Center for Risk Assessment (ICRA) which is located in UAE, have signed a memorandum of understanding to introduce credit rating services in Ethiopia.

Ethiopia is embarking on a groundbreaking USD 250 million bitcoin mining and AI data center project, spearheaded by BitCluster.