Federal Auditor General Meseret Damtie laid bare a staggering 14 billion Br in unaccounted allowances and returns, while 19 billion Br in budget remained unspent across 101 agencies. Legislators were left shell-shocked as the report painted a grim picture of financial mismanagement and legal breaches within the federal agencies. With 92 agencies failing to recover 394 million Br from previous audit reports, she told legislators that the need for stringent reforms has never been more pressing.

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Source: addisfortune
@Ethiopianbusinessdaily

Ethiopia's flower industry stands at a crossroads. While its legacy of quality blooms and economic contributions remain undeniable, challenges like fluctuating market demands and global uncertainties threaten its future.

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Source: addisfortune
@Ethiopianbusinessdaily

Ethiopia to Introduce Medical Institution Accreditation

The Ethiopian Accreditation Service announced plans to begin accrediting the general services of medical institutions. This move aims to build quality infrastructure and increase trust in Ethiopian products and services.

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Source: 2merkato
@Ethiopianbusinessdaily

Ethiopia Boosts Domestic Medicine Production, Aims for 47% Market Share

Ethiopia is working towards increasing the local pharmaceutical industry's market share to 47% as part of its mid-term health sector development plan. This initiative aims to improve access to healthcare and reduce reliance on imported medicines.

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Source: 2merkato
@Ethiopianbusinessdaily

የአዲስ አበባ ከተማ አስተዳደር በቅርቡ ባወጣው የመሬት ሊዝ ጨረታ ያሸነፉ 77 ተጫራቾች ባለመቅረባቸው ሁለተኛ የወጡ ተወዳዳሪዎች ቦታዎቹን እንዲወስዱ ጥሪ አስተላልፏል፡፡

ዋን ኘላኔት ኢንተርናሽናል ት/ቤት በቅርቡ ወጥቶ በነበረው የሊዝ ጨረታ ለ213 ካሬ ሜትር በታ ከፍተኛ ዋጋ ያቀረበ ተጫራች ነው፡፡

ከሳምንታት በፊት በተከናወነው ጨረታ ፒያሳን ጨምሮ በተለያዩ የከተማዋ ክፍል በኮሪደር ልማት ጨምሮ የፀዱ ቦታዎችን ለጨረታ ማቅረቡ ይታወሳል፡፡

ከፍተኛ ወጋ የቀረበበት ፒያሳ (አራዳ ክፍለ ከተማ) አካባቢ 20 ቦታ ለጨረታ ቀርቦ የነበረ ሲሆን፡፡

ከአሸናፊዎች መካከል ስድስት የሚሆኑት በሰጡት ዋጋ እና የአከፋፈል ሁኔታ ቀርበው ቦታቸውን እንዳልተረኩ ነው የተገለጸው፡፡

በተጨማሪ በሌሎች ስድስት ክፍለ ከተሞች 71 የሚሆኑ አሸናፊ ድርጅቶች ወይም ኩባንያዎች ያልቀረቡ ሲሆን፡፡

ከሰባ አንዱ ቦታዎች ሃምሳ አራቱ በንፋስ ስልክ ላፍቶ ክፍለ ከተማ የሚገኙ ደረጃ ሁለት ቦታዎች መሆናቸው ታውቋል፡፡

አሸናፊዎች ላልቀረቡባቸው 77 ቦታዎች የከተማ አስተዳደሩ ሁለተኛ የወጡ ተጫራቾች ከአርብ ሰኔ 14 ቀን ጀምሮ ባሉ 10 የስራ ቀናት ቀርበው ክፍያ እንዲፈጽሙ ጥሪ አስተላልፏል፡

በቅርቡ በወጣው ጨረታ 10 ሄክታር መሬት (ቦታ) የተዘጋጀ ሲሆን፣ እነዚህ ቦታዎች በአስር ክፍለ ከተሞች የሚገኙ ናቸው

በቅርቡ በተከናወነው ጨረታ ዋን ኘላኔት ኢንተርናሽናል ት/ቤት በቂርቆስ ክፍለ ከተማ ወረዳ ሁለት ለሚገኝ 213 ካ.ሜ ቦታ በካሬ ሜትር 470 ሺ 422 ብር በማቅረብ በጨረታው ከፍተኛ ዋጋ ያቀረበ ሆኗል

ለተመሳሳይ ቦታ ዘላለም ጌታነህ አማረ የተባሉ ግለሰብ ከ464 ሺ ብር በላይ ዋጋ አቅርበው ነበር፡፡

Source: capitalethiopia
@Ethiopianbusinessdaily

ABH offers opportunity to 40 African Entrepreneurs to explore innovations in China

In a remarkable showcase of African entrepreneurial talent, the Africa’s Business Heroes (ABH) Prize Competition recently hosted 40 outstanding entrepreneurs from across the continent at Alibaba’s headquarters in Hangzhou, China.

The ABH Prize Competition, a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, is dedicated to supporting and highlighting African entrepreneurs who are creating positive impact in their communities. Over a ten-year period, the program aims to recognize 100 African entrepreneurs and provide them with grant funding, training programs, and broader support to fuel the long-term growth of the African entrepreneurial ecosystem.

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Source: capitalethiopia
@Ethiopianbusinessdaily

The VAT-exempt items have been reduced following a directive signed by Finance Minister Ahmed Shide last week.

The revised list now includes cereals, agricultural inputs, and capital goods. Notably, animal feed, edible oil, travel agent services, prints for publication, import of fuel gas, and pension funds are now included in the taxable base.

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Source: addisfortune
@Ethiopianbusinessdaily

Ethiopia's Central Bank is about to flex some serious financial muscle. A proposed bill in Parliament plans to boost its capital to a whopping 20 billion Br — nearly 40 times its current stash. The massive injection is designed to shore up the Bank's new focus on interest rates and open market operations. Vice Governor Fikadu Digafe says, "A capital increase is timely." Could this be the game-changer Governor Mamo Mihertu needs to tackle inflation and stabilise prices?

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Source: addisfortune
@Ethiopianbusinessdaily

የዉጪ ባለሃብቶች በባንክ ዘርፍ ላይ እንዲሰማሩ ያስችላል የተባለዉ ረቂቅ አዋጅ ሀገሪቷን በድጋሚ በኢኮኖሚ በበለፀጉ ሀገራት ተፅዕኖ ስር እንዳያደርጋት ስጋት አለኝ አምባሳደር ዲና ሙፍቲ

ስለ ባንክ የስራ ፍቃድ እና የዉጪ ዜጎች በባንክ ዘርፍ ላይ ስለሚሳተፉበት ሁኔታ በዝርዝር ያስቀመጠው እና በአዲስ መልክ መዘጋጀቱ የተነገረለት "የባንክ ስራ ረቂቅ አዋጅ" ሀገሪቷን ነፃ ወጥተው ነገር ግን ከቅኝ ገዢዎች በኢኮኖሚ የበላይነት ያልተላቀቁና በእዛ ተፅዕኖ ስር እንዳሉ የአፍሪካ ሀገራት እንዳያደርጋት ስጋት እንዳላቸው አምባሳደር ዲና ሙፍቲ ተናግረዋል ።

አምባሳደሩ ይህን ያሉት የህዝብ ተወካዮች ምክርቤት የባንክ ስራ ረቂቅ አዋጅ መርምሮ ለሚመለከተው ቋሚ ኮሚቴ በመራበት ወቅት ነዉ።

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Source: capitalethiopia
@Ethiopianbusinessdaily

Auditor General raises concerns over debt transfer process for state-owned enterprises

The particular analysis of how to address the accumulated debt of certain state-owned enterprises (SOEs) has raised concerns at the Office of the Federal Auditor General (OFAG).

The Auditor General of OFAG, Meseret Damte, appeared before parliament earlier this week to present the audit findings for the 2022/23 budget year.

Based on the performance audit evaluation at Public Enterprises Holding and Administration (PEHA), she stated that there are gaps in the process of transferring SOEs’ debt to the government, which led to the establishment of the Liability Asset Management Corporation (LAMC) to manage the debt of selected enterprises.

She mentioned that before the debt was transferred to the government, there were no assessment documents available at PEHA or the SOEs

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Source: capitalethiopia
@Ethiopianbusinessdaily

#Daily_Tips

ስለ ኤሌክትሪክ ተሽከርካሪ ቻርጅ ማድረጊያ በጥቂቱ

በኢትዮጵያ በአሁኑ ወቅት 100 ሺ የሚሆኑ የኤሌክትሪክ ተሽከርካሪዎች እንዳሉ ቢነገርም ለነዚህ ተሽከርካሪዎች የሀይል መሙያ ጣቢያዎች ግን አናሳ መሆናቸው ይነገራል።

መንግስትም በ10 ዓመቱ ስትራቴጂክ እቅዱ ውስጥ በአዲስ አበባ 1,176 እንዲሁም በክልል ከተሞች 1,050 በአጠቃላይ በሀገሪቱ 2,226 ቻርጅ ማድረጊያ ጣቢያዎችን ለማቋቋም እቅድ አስቀምጧል።

በቅርቡም ቶታል ኢነርጂስ በአዲስ አበባ ለቶታል ኢነርጂስ መጀመሪያ የሆነውን የኤሌክትሪክ ተሽከርካሪ ቻርጅ ማድረጊያ ጣቢያ ከፍቷል።

በቦሌ ኤርፖርት መንገድ ላይ ወይም ቦሌ ማተሚያ በመባል የሚጠራው አካባቢ የሚገኘው ሀይል መሙያ ለሁሉም የኤሌክትሪክ ተሽከርካሪ አይነቶች የሚሰራ ሲሆን በ አንዴ ሶስት ተሽከርካሪዎችን ቻርጅ የማድረግ አቅም አለው።

ይህ ከ100,000 በላይ የኤሌክትሪክ ተሽከርካሪዎች ያላትና ቁጥሩም በፍጥነት እያደገ ለመጣባት ነገር ግን ውስን የኤሌክትሪክ ተሽከርካሪ ቻርጅ ማድረጊያ መሠረተ ልማት ላላት ኢትዮጵያ ትልቅ እርምጃ ነው ተብሏል።

🔋 የኤሌክትሪክ ተሽከርካሪዎች ቻርጅ አደራረግ ምን ይመስላል?
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Source: tikvahethmagazine
@Ethiopianbusinessdaily

New digital agricultural tracking system aims to strengthen control over exports, imports

In a move to strengthen control over its agricultural exports and imports, the Ethiopian government has announced the completion of preliminary processes to build a new digital control center called the e-Phyto system.

The $700,000 project, supported by the European Union and TradeMark Africa, will enable the transformation from manual to digital regulation of agricultural products. The system will allow the Ethiopian Agricultural Authority (EAA), the regulatory body for agricultural product quality, to digitally track all imported and exported agricultural goods.

The e-Phyto system, which has been tendered internationally for construction by the EU, is scheduled to be completed within the next five months, said Diriba Kuma, Director General of the EAA.

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Source: capitalethiopia
@Ethiopianbusinessdaily

Central Bank’s powers reinforced in draft reform bill, including sole authority over franco-valuta imports

The draft proclamation establishing the National Bank of Ethiopia (NBE) has reinstated the direct advance limit that the federal government can take from the bank. It has also set a time limit for the executives and board members serving in the central bank. The proposed bill would also grant the NBE sole responsibility for overseeing franco-valuta imports, revoking the previous powers held by the Ministry of Finance.

The draft bill, which was presented to parliament on Thursday, June 20, includes several changes to the previous proclamation no. 591/2008, which was issued sixteen years ago.

The draft bill brings back the provision stating that the government can borrow from the central bank.

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Source: capitalethiopia
@Ethiopianbusinessdaily

Foton Motor Gears Up for Ethiopian Market Expansion

Chinese commercial vehicle giant Foton Motor is setting its sights on Ethiopia's growing economy. The company announced plans to introduce more commercial trucks and electric vehicles (EVs) to the country, further solidifying its presence in the African market.

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Source: 2merkato
@Ethiopianbusinessdaily

Ethiopia's Spice Exports Increase

Ethiopian Coffee and Tea Authority (ECTA) announced that spice exports generated USD 7.5 million from 8,400 tons sold over the past 11 months. This reflects a 2,000-ton increase compared to the same period last year.

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Source: 2merkato
@Ethiopianbusinessdaily

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Ethiopia's Livestock Industry Produces 2.2 Million Doses of AI

Livestock Development Institute of Ethiopia saved Birr 1.5 billion in import costs over the past 11 months by producing artificial insemination (AI) locally.

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Source: 2merkato
@Ethiopianbusinessdaily