Associations' Capital Hits One Billion Birr

The Federal Cooperative Agency (FCA) announced that the cooperative associations and unions in the country have pushed their recurrent capital to one billion Birr. The associations were able to raise their capital to the stated sum by engaging in agriculture, mining, loan service, consumers associations and other related business, Yigzaw Dagnew, head of the Public Relations Department at the agency said. The associations registered a total income of more than 900,000 Br over the last two years. The agency has offered training on business management to more than 12,700 heads, auditors and experts of associations and unions over the past years.

Hawassa Investors with Two Billion Birr Receive Licenses

Investors with a combined capital of two billion Br have received licenses in Hawassa town of the Southern Nations, Nationalities and Peoples Regional State during the just ended fiscal year. Approximately 269 investors planning to engage in urban agriculture, tourism, agro-industry, hotel and real estate development sectors, Markos Tule, process coordinator at the Investment Expansion of the town said. Some 19 of the licensees are Ethiopian by origin. The town administration has provided more than 76hct of plots to the investors, he said. About 1,250 foreign and local investors with a combined capital of over 5.7 million Br have been executing projects in the town.

Over 32,000Km Roads Repaired, Previous Fiscal Year

Approximately 32,000Km of roads have been repaired by the federal state's road authorities with 1.3 billion Br earmarked over the past budget year, Reshid Mohammed, director general at the Ethiopian Road Fund said. The Ethiopian Road Authority alone carried out regular and seasonal maintenance on 21,942Km of roads with over 816.9 million Br allocated by the Fund, he said.

Loans for Shoa Zones in Oromia

The Oromia Credit and Saving S.C. has reportedly distributed over 210 million Br loan to organized people in four zones of Oromia Regional State over the past budget year. The loan was distributed to 102,771 beneficiaries in east, west, north and south-west Shoa zones, Meseret Kebede, planning and inspection officer, at the company said. Preparations are underway to provide over 350 million Br in loans to more than 150,000 people this Ethiopian fiscal year.

Micro Business Loans for SNNP

More than 339 million Br in loans will be distributed with a view to strengthening and expanding micro and small-scale business enterprises in the state this budget year, the Southern Nation, Nationalities and Peoples Regional State (SNNPRS) Trade and Industry Bureau said. The loan will be distributed to 6,382 residents of the state, Abebe Dengamo, head of the Public Relations Department at the Bureau said. In addition to the ongoing construction of production and market places, preparations are underway to offer 259,861 sqm of land to the beneficiaries.

Office Collects over 74m Br

The East Hararge Zone Revenue Office has collected more than 74.1 million Br revenue over the past budget year. The revenue was collected from direct and indirect taxes as well as non-income titles, Tofik Abdurhaman, head at the office said. The revenue collected in the reported period is greater than the target goal by over 15.6 million Br.

West Gojjam Zone Revenue Increases

The Revenue Office of the West Gojjam Zone of the Amhara Regional State has collected 94 million Br from the various income sources over the previous fiscal year. The money, secured from the various woredas and town administrations in the zone, was collected from direct taxes and other revenue sources, Jember Workeneh, head of the office said. This was an increase of 30 million Birr when compared to last year.  The revenue collected during the last fiscal year covers about 30pc of the annual budget of the zone, he added.

Agriculture Boosts Adama's Revenue, Exports

Over 101 million dollars has been obtained from the export of various agricultural produces via Adama last budget year, Town Revenue and Customs Office said. The exported agricultural produces include haricot bean, oilseeds, spices, livestock, hides and skin as well as fruits and vegetables, Amogne Tagele, head at the office said. The produce was exported to various countries including Britain, Italy, the United Arab Emirates, Saudi Arabia, China and South Africa. The office has also collected 1.7 billion Br revenue during the reported period and the office has also seized contraband goods worth close to 13 million Br, he added.

Ethiopia Secures 138m USD

Ethiopia secured 138 million dollars from the export of cut flowers during the just ended fiscal year. The stated sum was obtained from the export of two billion cut flowers stated Tsegaye Abebe, president of Flower and Horticultural Products Association. In spite of the current global economic slowdown, the amount gained from the sector has increased, he said.