Ethiopia: Income Tax Proclamation Amendment Revealed
Ethiopia’s Ministry of Finance and Economic Cooperation (MoFEC) disclosed a draft amendment bill for the income tax regime.
Ethiopia: Indian, Dutch Flower Companies Engage in Ethiopian Market
Two new private flower firms from India and the third from Netherlands have lately joined the Ethiopian flower market, according to Ethiopian Horticulture Agency.
Ethiopia: Industrial Development Corporation Sold Out Its Stake in Habesha Cement
Portland Pretoria Cement (PPC) disclosed it acquired the 20 percent stake Industrial Development Corporation had in Habesha Cement Share Company (HCSCo). PPC bought out Industrial Development Corporation for U.S. $ 13 Million.
Ethiopia: Industrial Park Companies Export Goods Worth USD 196 Million
Industrial Parks Development Corporation (IPDC) announced that industrial park companies generated USD 357 million from the sale of goods and created jobs for 57,000 citizens during the 2021/2022 fiscal year. The companies exported goods worth USD 196 million. They also supplied goods to the local market substituting import products which amount to USD 161 million.
Ethiopia: Industrial Park Companies Given Additional Six Months to Access Local Markets
Ethiopian Industrial Parks Development Commission (IPDC) revealed that industrial park companies could provide their products to the local market for the following six months. The companies were allowed to sell their products to the Ethiopian market after Ethiopia was banned from the African Growth and Opportunity Act (AGOA) of the United States.
