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Thursday, June 20, 2024

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The National Bank of Ethiopia (NBE) has raised its gold purchase rates as it looks to lure miners away from a lucrative contraband market. Since last year, the central bank had been offering a 35 percent premium on top of international gold prices to artisanal and commercial miners. However, the...

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EIB provides largest loan ever in Djibouti’s history to boost water security

The European Investment Bank (EIB) has agreed to provide €79 million for water projects in Djibouti - the largest loan ever provided by the...

Addis Ababa approves record high 140.2b br budget for next year

The Addis Ababa City Administration has approved a record high 140.2 billion birr budget for the fiscal year starting July 8, 2023 - an...

Ethiopia, Nigeria swap $100M

The central banks of Ethiopia and Nigeria have swapped USD 100 million in blocked funds as both countries struggle with severe shortages of hard...
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End ‘chaotic’ khat tax, fed tells regions

Officials at Ethiopia Customs Commission have ordered regional authorities to dismantle illegal checkpoints that have been collecting taxes on khat exports. Addis Ababa's order for...

IMF delays hold up Ethiopia’s debt talks

But China refusing write-offs also a hurdle External creditors are waiting for the International Monetary Fund (IMF) to conduct a debt sustainability assessment before they...

Specialize or shut down, university ultimatum splits academics

Lecturers at public universities find themselves in an impasse as the government pushes forward with a controversial university restructuring that would fundamentally change academic...
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Right of way rules under revision to curb inflated land claims

The proclamation regulating compensation in land expropriated for right of way - to build public projects like roads - is now undergoing changes aimed...

China-Ethiopia funding row threatens key infrastructure link

A Chinese construction firm building the final leg of an Ethiopian expressway has threatened to halt work unless it receives at least USD 50...

Looming climate disasters imperil Ethiopia’s harvests: AGRA

Extreme climate events cause 70% life, economic losses  Unveils $20 mln for agricultural adaptation Ethiopia's agricultural sector is under threat from the devastating effects of...
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Proposed property tax to bring 30 bln br revenue bonanza

Excise tax tweak expected to yield extra 10 billion birr Tax authorities plan to rake in more than 30 billion birr annually from a proposed...

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