Ethiopian Business Review

Government Housing Crowding Private Real Estate Developers

Wednesday, 17 July 2013 13:50 Published in Focus

The registration process for the new government housing projects has gotten people talking. Starting May 3, 2013 all 115 branches of the Commercial Bank of Ethiopia (CBE) in Addis Abeba were busy with swarms of people hoping to take advantage of the new program. Despite its multi-faceted benefits, not everyone seems to be happy though. Private banks may face further depleted savings as the masses rush to open an account in the Commercial Bank of Ethiopia (CBE); the public financial institution mandated with handling the financial aspect of the project. The 40/60 program that targets the middle class is set to challenge private real estate companies as well.

Post Pill Consumption Hits Record High

Wednesday, 17 July 2013 13:43 Published in Focus

A new study by the social marketing organization DKT Ethiopia finds that Emergency Contraceptive consumption is on the rise. Commonly known as Post Pills, they are taken in the immediate hours after having unprotected sexual intercourse to prevent unplanned pregnancy. The study indicates that over a five year period between 2007 and 2012 their use increased by 382 Pct. In 2007, there were only 12,432 pills in circulation but this number grew to a record high of 1.58 million in 2012, according to the DKT study. The country spent more than USD29 million to import the pills in 2012 alone.

Private Sector Echoes WTO Recommendations

Wednesday, 17 July 2013 13:41 Published in Focus

Ethiopian Chamber of Commerce and Sectoral Association (ECCSA) presented a position paper- Regulation and Openness of Ethiopia’s Service Sectors with an objective of fostering discussion about the private sector’s opinions on Ethiopia’s World Trade Organization (WTO) accession process.

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Wednesday, 17 July 2013 11:52 Published in Statistics

The number of people currently under detention by court order since the Federal Ethics and Anti Corruption Commission began arresting senior government officials and private sector tycoons on May 10, 2013. The number had been 61 until two detainees were released on bail in the last week of June. Among these detainees is Melaku Fanta, former director general of the Ethiopian Revenue and Customs Authority, whose office has been taken over by Beker Shalle, the former mayor of Adama town. Melaku, who is believed to be behind the increasing tax revenues the nation was able to achieve in the last few years, is reported to have been sick after his detainment and has been under a series of medical treatments. The Authority’s other senior official under detainment is Gebrewahid Woldergiorgis, Melaku’s deputy and the head of the Authority’s intelligence arm. The list of detainees includes the Authority’s regional officials and other business people in the private sector. The hearing, which has almost taken 2 months before any verdict, is ongoing with more investigations going on in Addis Ababa and other regions.

Subsidization

Monday, 15 July 2013 22:51 Published in Focus

As June ends and the 2012/13 budget year comes to a close, government offices at the federal and regional levels have been on the rush to reconcile their accounting for this fiscal year and defend their proposals for the next. The 2013/ 14 budget year, from July 1, 2013- June 30, 2014, is set to see a federal budget close to ETB155 billion.

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