Ethiopian Business ReviewFormer Advisor to Ethiopian Prime ministers, Neway Gebregab, has passed away today. He was a chief economic advisor to former Prime Ministers of Ethiopia, Hailemariam Desalegn and the late Meles Zenawi.
The Council of Minister approved a supplementary budget of ETB27.9 billion to implement different programs in the next six months.
In modern economies, keeping tax rates at reasonable levels is uncompromised, because of its significance in promoting the development of the private sector, creation of a transparent economy, and the formalization of businesses. The reality is different in Ethiopia. Tax is usually misunderstood as an instrument to increase government revenues, even at the expense of businesses’ survival, with the latest being the excise tax bill introduced by the government last month.
The 2018 Corruption Perception Index, published by Transparency International, measures the perceived levels of public sector corruption in 180 countries and territories. The index scores on a scale of zero (highly corrupt) to 100 (very clean). Accordingly, sub-Saharan Africa is the lowest scoring region on the index, and has failed to translate its anti-corruption commitments into any real progress. A region with stark political and socio-economic contrasts and longstanding challenges, many of its countries struggle with ineffective institutions and weak democratic values, which threaten anticorruption efforts.
Electoral Board declared August 29 2020 as a final date for the upcoming national election. This comes a month after the Board proposed August 16 as a tentative date for national vote.
National Bank of Ethiopia adjusts the salaries of its employees by an average of 140Pct, Addis Maleda, sister publication of EBR, reported. The Bank, in a letter circulated last week, announced that it has made a salary adjustment ranging from 50Pct to 230Pct to all of its employees.
The Coca-Cola Company announced the official launch of Schweppes Novida Pineapple, a new non-alcoholic malt based beverage, for the first time in Ethiopia.
Coca-Cola organized a launching event yesterday at the lavish Marriott Hotel in Addis Ababa through a fashion show event, featuring top Ethiopian designers to commemorate the occasion.
Four suspected cases of Coronavirus in Ethiopia tested negative, Ministry of Health announced. This comes two days after the Ministry disclosed that three Ethiopians and one Chinese have been quarantined on suspicion of contracting Coronavirus from other countries.
Ethiopian Airlines announced that it is not going to stop flying to China where an outbreak of the deadly coronavirus has killed 491 people and over 23,000 cases are diagnosed.
Prime Minister Abiy Ahmed (PhD) inaugurated USD451 million worth Genale Dawa III hydro-power project, which has increased the country’s generation capacity to 4,514MW. Constructed by China Gezhouba Group Corporation, Chinese Exim Bank covered 85Pct of the project cost, while the remaining was financed by the federal government.
