The Budget and Finance Standing Committee of the House of People’s Representatives (HPR) lambasted the Ministry of Finance (MoF), over its handling of inflation and soring living costs, which they say has affected citizens across the country.
A Saudi Arabian firm, ACWA Power, has won a USD 300 million worth solar Public Venture (PV) contract, becoming the first private company to win a mega project under the Public Private Partnership (PPP), after the PPP Board of Ethiopia approved the bid summited by the firm.
In taking the privatization process further, the Ethiopian government has officially extended an offer to at least 12 global companies to submit financial and technical proposals in order to engage in the power production and operations.
Mere months after the state visit by Emmanuel Macron, President of France, the French Development Bank that has the capacity to finance worldwide initiatives worth more than EUR 11 billion a year, is set to offer Ethiopia a combination of a loan agreement and a grant worth EUR 100 million.
In the face of an ongoing political volatility, the macroeconomic performance of Ethiopia, exacerbated by soaring double digit inflation and decline in export earning, is becoming a matter of grave concern to the nation, Ministry of Finance said this week.
Enforced for the past 17 years, and in recent times becoming a tiresome affair to conduct business, a new draft bill has offered an improvement to key provisions of the VAT proclamation, vying for a more friendly business atmosphere than the one created by the existing law.
The Ministry of Finance has released initial documentation for the purpose of inviting local and international investors to express their interests in relation to the privatization of scores of sugar factories, both already commissioned and still under construction, The Reporter has learnt.
The Ethiopian Sugar Development Corporation (ESDC) has awarded a USD 95 million contract for China CAMC Engineering Co. Ltd (CAMCE) – a Chinese construction firm - to undertake the construction of the unfinished Tana Beles-I sugar plant project, The Reporter has learnt.