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Published On Feb 12, 2012 |
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CBE to Claim Lead on IT Front, Investing over 100m Br |
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The state-owned Commercial Bank of Ethiopia (CBE)
will soon buy close to 420 automatic teller machines
(ATMs) and 600,000 electronic payment cards,
estimated to cost the nation’s largest bank an
investment of over 100 million Br. |
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Zemen Bank Joins Visa Card Network |
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Zemen Bank has joined
the pool of domestic banks, including Wegagen,
Dashen, and the Commercial Bank of Ethiopia (CBE),
in offering Visa card services at its automated
teller machines (ATMs). |
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African Dev. Bank Signs 234.5m Br Loan for Roads to
Neighbours |
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In a bid to foster regional trade between Ethiopia
and its neighbours, the African Development Bank (AfDB)
has given a 234.5 million-dollar loan to the
Ethiopian government for the upgrading and
reconstruction of two roads to enable the county to
connect with two of its neighbours. |
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East Shoa Zone Sluggish to Comply with VAT |
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The tax authority’s drive to coral as many
businesses as exist across the nation has gained
little momentum in the eastern part of Addis Abeba.
Despite mandatory requirements by the East Shoa Zone
Customs & Revenues Bureau that around 1,151
identified businesses in Adama (Nazareth), Dukem,
and Bishoftu (Debre Zeit) towns register for
value-added tax (VAT) and start using cash
registers, only 28.3pc of them have complied as of
mid-January 2012. |
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Departing, Incoming Local Bosses: Total Here to Stay |
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The topmost position at Total Ethiopia, the longest
surviving oil company in the country, saw a change
of hands last week. Marc De Lataillade replaced
Antoine Tournand, who completed his tenure in
Ethiopia, after two and half years of service. |
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| Agenda |
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An unofficial dollarisation of Ethiopia’s economy is
underway... |
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Editor's Note |
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The edifice off Yared Street, near National
Theatre, hosting National Bank... |
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Commentary |
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In a world dominated by democracy, a new political
idealogy is arising based on the quota system. This
system undermines the foundation of democracy in
such a way as to deserve its own title, quotocracy.
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Read More |
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| Opinion |
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A buzz filled the wining and dining circles of this
fair city, in the weeks before, which could have
eventually prompted every curious individual not to
want to wait to go there. The case was even stronger
if one had foreigner friends who had the habit of
spending their days under the auspices of gossiping,
drinking, and smoking. |
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Read More |
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"They
work for profit." |
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Genet Zewedie (PhD), former minister of Education (MoE) and now
Ethiopian Ambassador to India, reckoned as such in responding to
a question about whether Indian companies investing in the
Ethiopian agricultural sector will export their products or sell
them domestically. There is no law forcing them to sell their
products domestically, she said in an exclusive interview with
Addis Zemen, an Amharic weekly, on February 1, 2012. |
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Chinese development finance in Africa is unusual in that much of
the financial flows from China do not constitute official
development aid. Instead, much of it comes in the form of export
credits and strategic lines of credit to Chinese-related
companies, among other
...
Read
More |
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Capitalism earns its keep through Adam Smith’s famous
paradox of the invisible hand. Self-interest, operating
through markets, leads to the common good. Yet, the paradox
of self-interest breaks down when stretched too far. This is
the global predicament, today.Read
More |
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Viewpoint |
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The earliest of organisations in Ethiopia date back
to the Axumite period. The magnificent obelisks of
Axum and the rock-hewn ... |
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The Fine Line |
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The summit by African heads of state last week was
about China and Chinese presence as much as it was
about the African ... |
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Out and About |
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Sellers
of sambusas, the deep-fried dough triangles filled
with,... |
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