2merkato

The World Bank has granted 11 million birr to facilitate an investigation into the national revenue potential of Ethiopia. The study was commissioned by the Ethiopian Revenues and Customs Authority (ERCA).

The study will assess the revenue productivity of each tax, identify gaps in the law and how to address them as well as widening the tax base on the national level. It will be part of the tax reform instituted by the government to generate mechanisms of increasing the tax-GDP ratio.

The Ethiopian Revenues and Customs Authority (ERCA) is to set up an inspection laboratory for tariff classification of imports. The lab will help determine the tariff classifications of imports on the basis of their material and chemical composition.

The inspection laboratory is a recommendation from the Dutch Customs Authority (DCA) and the World Customs Organization (WCO). The two agencies were invited to evaluate existing tariff classifications and recommend possible changes by ERCA. The contract was sponsored by the Swedish International Development Agency (SIDA).

The National Oil Corporation (NOC), in collaboration with Q8Aviation, has expanded its aviation activities in Ethiopia by launching jet fuel services at Gambella and Assosa airports.

The new operations at Gambella and Assosa airports are an important step in NOC’s long term plans to expand its aviation business according to Shisema Shewaneka, Chief Operation Officer of NOC.

DAT/EM Systems International has finalized the sale and installation of 29 SUMMIT Evolution workstations for the Urban Development Capacity Building Office of the Ethiopian Ministry of Urban Development and Construction.

The work stations will provide technical support for the Base Map Preparation Project to be carried out in 150 selected towns.

SoleRebels, an Ethiopian Foot wear company, has been selected as finalist in the 2011 Africa Awards of Entrepreneurship.    

SoleRebels are artists that desire to craft stylish and comfortable footwear according to Bethlehem Tilahun founder and managing director of the company.

“We do this by combining  our heritage artisan crafts with modern design sensibilities , while  pouring  our creative selves  into our shoes.  The final result is  that  when our footwear is bought ,  the purchaser can SEE , FEEL and enjoy all the  elements of heart, soul and creative craftsmanship that have gone into their construction. We are deeply proud that that this ethos has carried us to the finals of this amazing competition.” stated  Bethlehem

NIB Bank has announced a net profit of 246.4 million birr in the last fiscal year. The Ethiopian bank showed an increase of 22.7% from last year.

The total income generated by NIB was said to be 656.6 million with gross profits registered at 344.1 million according to a report from the bank. The gross profits showed and increase of 58.8 million over the last fiscal year.

Total Ethiopia has initiated a solar powered gas station in the Djibouti corridor according to Haile Eyesus Communications and Public Affairs Manager of Total. The gas station will be the first solar powered station in East Africa he said.

Total selected the Diciotto area for constructing the gas station because it is a busy section that has high temperatures and sunshine.

A specialized construction exhibition will be held for five days in Addis Ababa, Ethiopia, starting from the 25th of January, according to an announcement made by Century Promotion Service. The exhibition will be conducted in collaboration with the Metal Engineering Corporation.

More than 53 companies including 11 international ones have confirmed their participation in the upcoming event said Zewge Jemaneh head of CPS. A further 120 companies are expected to attend pending final confirmation he said.

Karuturi Agro Products Plc said that Indian farmers were only hired as consultants, denying claims that it had sub-leased land.
Indian farmers have been hired to consult on specialty crops such as cotton said Birinder Singh Executive Director of Karuturi.

Invitations for consultancy were extended to everyone including Ethiopian agriculture experts and not just to Indians according to Mr. Singh.  

The Karuturi project in Ethiopia is an international effort, stresses the executive director.

The Federal Transportation Authority has announced that long distance bus services will be required to color code their vehicles as of the 10th of November. The vehicles will be coded according to their service level.

Bus Owners have been given enough time to paint their vehicles according to specifications said Birhane Zeru Deputy Chair of the Federal Cross Country Public Transport Associations Coalition. Many owners have already completed the process which will cost about 20,000 birr he said.