Ashenafi EndaleJune 9, 2021
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1min240

Electronic tax payment system dubbed e-tax is launched, in a bid to enable businesses to pay tax online. The Ministry of Revenue has signed agreement with five banks that includes Birhan International Bank, Dashen, Commercial Bank of Ethiopia, United Bank, and Awash International Banks, today at Hyatt Regency Hotel. Other banks are expected to follow suit.
e-tax is developed by Derash, a platform formed under the Information Network Security Agency (INSA). The system is highly expected to reduce taxpayers’ strains and queues while paying tax physically, at the ministry’s branches.


Ashenafi EndaleJune 3, 2021
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1min3950

Zamzam Bank SC has started operation naming its first branch Alif, located around Wollo Sefer, Bole district in Addis Ababa. Zamzam has become the first full fledged non-interest bank to operate in Ethiopia. The grand inauguration ceremony today was attended by Yinager Dessie, governor of central bank of Ethiopia, and Grand Mufti Haji Idris, among others.


Ashenafi EndaleMay 24, 2021
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1min3240

The Ethiopian Ministry of foreign Affairs called the decision ‘ill-advised measure to unnecessarily overshadow the elections’, in a statement released on May 24, 2021. US president Joe Biden’s administration restricted economic and security assistance to Ethiopia, followed by visa restrictions on Ethiopian and Eritrean officials in relation with the six months military
operation in Tigray region of Ethiopia.


Ashenafi EndaleMay 4, 2021
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1min6180

As covid19 restrict access to cash and financial institutions, number of mobile transaction users has grown by 13pct globally to over 1.2 billion in 2020, with over 300 million monthly active accounts, according to new report dubbed ‘State of the Industry Report of Mobile Money’, by Global System for Mobile Communication (GSMA). For the first time, the amount of remittance sent and received via mobile money has also surpassed USD1 billion, exponentially growing by 65pct.


Ashenafi EndaleApril 15, 2021
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1min4410

In the past, prices of commodities revert to reasonable levels after the end of the harvesting season. However, agricultural products are priced at new heights this year. In fact, the current inflation spike is the second highest after the record year of 2008. A major factor is the widespread instability affecting the mobility of commodities. Foreign currency scarcity and an increased money supply have also contributed. But the lifting of fuel subsidies by the government has brought the acceleration of prices to new levels. EBR’s Ashenafi Endale explores.


Ashenafi EndaleApril 15, 2021
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2min5300

Atnafu Gebremeskel (PhD), is an Assistant Professor of economics at Addis Ababa University and an executive member of the Ethiopian Economics Association. In December 2020, he published a study entitled “Inflation Dynamics and Macroeconomic Stability in Ethiopia” in which he identified key sources of inflationary pressure in Ethiopia through the analysis of commodity price changes observed between 1997 and 2020. It became a timely reference and antidote as inflammatory inflation breaks loose since January.
Atnafu argues the actual permanent inflation rate in Ethiopia during the study time was 38.9Pct, driven by expansionary monetary phenomenon, though government has been underreporting inflation at 15Pct annual average. This problem of denial is keeping the solution at bay. Apart from the persistent as well as immediate causes, Atnafu stresses market responds by increasing price, whenever ineffective government is in charge. EBR sat down with the leading expert on Ethiopia’s inflation dynamism, conversing on his findings and its ramifications towards stabilizing current price hikes.



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