Saturday, July 13, 2024
BusinessAgency bags over half a billion birr from accreditation, documentation services

Agency bags over half a billion birr from accreditation, documentation services

Surpassing expectations, the Federal Documentation Accreditation and Registration Agency has revealed it was able to amass 522 million birr in revenue from the services it has rendered during the recently concluded fiscal year which extends from 8th July 2019 to 7th June 2020.

According to the Agency’s statement sent to The Reporter, its initial plan was to deal and address up to some 893,524 issues and requests from customers. However, it was able to entertain around 826,629 issues and requests, meeting only 92.5 percent of its stated target. Nevertheless, the actual figure of received and addressed requests in the year has still shown an increase than the previous year, by some 23,597 requests in the same reported period.

In terms of customers, the agency received a total of 1.5 million customers visiting its various branch offices; while the average number of customers who have received the service per day, is around 6,100 customers. Similarly, the stated total number of the customers for the fiscal year is greater in number than the previous year, by a margin of more 14,9oo customers.

Regarding annual revenue, the agency had set a plan to bag a maximum of 520 million birr from rendering its services on offer. Fortunately, the actual revenue collected was 522 million birr, attaining 104 percent of its target. This year’s performance has brought in 148.6 million birr in revenue than what was reported during the previous year.

The major services rendered include, authenticating documentation, authenticating power of attorney or revocation of power of attorney; transferring of movable and immovable properties for third parties (which accounts 403,907), while online services have also been rendered. Meanwhile, the reported years’ service and cases that have been seen by the agency shows an increase compared to the previous year, by at least 126,324 more cases.

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According to the agency, the launch of its online services has had a great impact enabling it to grow its customer number, services and address cases.

Meanwhile, from the total revenue the agency has bagged in the year, it has also funneled some 384 million birr into federal coffins.

The agency’s Director General, hailing the year’s performance as a successful year, also praised employees and stakeholders for their commitments despite the pandemic challenges, especially during the 4th quarter of the fiscal year.

He hoped that the agency will continue to succeed in the years to come as well as intensify its efforts in fighting the pandemic as per the nationwide campaign.

In its statement, the agency said it has already planned to achieve at least 550 million birr in revenue while it sets to look at, at least some 909,292 cases at the end of the current fiscal year.

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