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Bumpy Ride Ahead

For the tax authority, which has been busy defending its excise tax revision to stakeholders and taxpayers, this week; the decision to levy progressive and prohibitive tax on the used car business in Ethiopia was one long overdue. Presented at one of the discussion platforms organized by the authority, a study, conducted by the authority, estimated that in Ethiopia, used cars consume on average 76 percent additional fuel than their counterparts.

Ethiopian power EX-CEO faces corruption charges

The former CEO of Ethiopian Electric Power (EEP), Azeb Asnake (Eng.), became the latest high-ranking official to be implicated in the high-profile corruption case involving the USD 6 billion Grand Ethiopian Renaissance Dam (GERD), it was learnt.

Power disruptions hobble Ethiopia’s railway lines

A new study by a local research firm has indicated that the Ethiopian railway operation has been suffering from recurrent power outages, exacerbated lack of sound legal system, least available maintenance facilities and most importantly the absence of funding.

PepsiCo joins Veris Investments

PepsiCo has joined Veris Investments, a growing and influential investment company, as a major shareholder in Crisps Company, Senselet Food Processing Plc. (Senselet), in Ethiopia.

Alibaba, MiNT collaborate on training program

A month after Jack Ma, cofounder of Alibaba, visited the capital; a new training program is set to be launched in collaboration with the Alibaba Business School and the Ethiopian Ministry of Innovation and Technology.

Ethiopian Air Force to undergo fleet renewal

The Ethiopian Air Force has proceeded with its fleet modernization program aimed at replacing the aged Soviet Era aircraft; and as part of the renewal program, the Ethiopian Air Force has recently taken delivery of six new German made trainer aircraft.