North Shewa Zone: 21m Br in Tax

Close to 21 million Br revenue was collected in the North Shewa Zone of the Amhara Regional State during the past three months, the zone's revenue office said. According to the office, the revenue was collected from various income titles. The stated sum of revenue collected during the reported period surpassed that of the same time the previous year by six million Birr. The increase was attributed to public motivation to pay tax duties. The office has plans to amass 92 million Br during this year.                                                     

Jimma Rejoices in 15m Br Business Junction

Aba Dulaa Gemeda, president of the Oromia Regional State inaugurated a business centre constructed at a cost of 15 million Br in Jimma. The four-storey building was constructed on a 650sqm plot of land the owner received from the Jimma Administration. The administration of the town has put in place an investment system to attract investors into the town, according to the Ahmed Aba Gibsa, mayor of Jimma. Participation of investors has been increasing.             

Nyota Minerals Uncover New Targets at Tulu Kapi Gold Project

Nyota Minerals has identified two new drill targets adjacent to its existing 19,596kg (690,000 ounces) gold resource at Tulu Kapi in Ethiopia. Nyota has been focusing its attention on bolstering the resource at Tulu Kapi. After interpreting gold-in-soil geochemical surveying data, it has come up with a target for a potential northern extension of the main project strike covering an estimated area of 300sqm.

Global Fund Endorses $2.4b Endowment to Ease Epidemics

The United Nations-backed Global Fund announced a 2.4 billion dollar grant to projects aimed at fighting HIV/AIDS, tuberculosis and malaria in low income countries over the next two years. The latest rounds of grants bring the Global Fund's overall commitment to combating the three diseases to more than 18.4 billion dollars for 144 countries since it was established in 2002. The three diseases kill an estimated four million people each year. The fund's board also decided to reform its financing process from a grant-by-grant model to continuous funding streams for countries which will now have to manage the grants. 

Adigrat Authorizes Investments of 429m Br

About 15 investors with a combined capital of over 429 million Br acquired licences to pursue various investment activities in Adigrat of the Eastern Tigray Zone of the Tigray Regional State. According to Haile-Michael Mulu, advisor for the zone's administration of urban works, the investors received plots for hotels, tourism, agro processing and manufacturing industries. The projects are expected to create more than 1,500 permanent and casual employment opportunities.

Nation Obtains $342m from Export Trade

Ethiopian has obtained 342.5 million dollars from export trade during the first quarter of this budget year, according to the Ministry of Trade and Industry. The income was generated from produce exported to over 100 countries in Europe, the US, Asia and Africa. The export items included, among others, coffee, cereals, flowers, oilseeds, khat, beans and livestock. Nearly three billion dollars is expected to be obtained from exports by the end of the current budget year  

NGOs Undertake 404m Br Development Programmes

In the North Shewa Zone of the Amhara Regional State, 37 NGOs have been undertaking various development projects worth 404 million Br. The stated number of NGOs includes 25 local NGOs, according to the zone's Finance and Economic Development Department. The department said that the organizations are undertaking the development projects in the areas of education, health, agriculture, natural resources, and rural road construction, among others. The development projects are expected to benefit over two million residents, according to the department.

Loans for 35,000 Hararghe Pastoralists

The Oromia Credit and Saving S.C. and Mercy Corps signed a six million Birr loan guarantee agreement which will benefit some 35,000 vulnerable pastoralists and agro-pastoralists in the East Hararghe Zone of the Oromia Regional State. The agreement will be effective for the next two years and would be extended when the two partners agree to do so. Loan guarantees will help to enhance the low-income dependent people of the targeted pastoralist districts, according to Teshome Kebede, general manager of the company.