Published On  Feb 12,  2012
 
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CBE to Claim Lead on IT Front, Investing over 100m Br

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

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

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

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

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    

An unofficial dollarisation of Ethiopia’s economy is underway...

 
   

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Editor's Note  

The edifice off Yared Street, near National Theatre, hosting National Bank...

 
   

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Commentary  

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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Opinion  

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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Radar and Caption    
  Radar articles... and Photo Caption  
 

"They work for profit."

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.

 
 
 
 
 
 
 
 
 
 
 

China Japanising Africa?

 

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

 

Big Money Buys Trouble

 

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

 
 
Viewpoint

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

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
 

Sellers of sambusas, the deep-fried dough triangles filled with,...

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