Zone Collects Over 35m Br

The East Hararghe Zone Revenue Office has collected more than 35 million Br over the past six months. The revenue was collected from direct and indirect income as well as non-income titles, according to Tofik Abdurahman, head of the Revenue Office. The income collected in the period exceeds that of the same period last budget year by more than 6.6 million Birr, he said.

Over $21m Obtained from Gold  

More than 21 million dollars has been earned from gold produced by traditional miners over the past six months, the Ministry of Mines and Energy (MoME) said. The income was obtained from 705.3kg of gold supplied to overseas markets through the National Bank of Ethiopia, according to Bacha Faji, Public Relations and Communications Process head. The gold supplied to the market is double that of last year, Bacha said.

District Collects over 421m Br in Revenue

The Kirkos District collected over 421 million Br in the first half of the budget year.  The revenue was collected from direct and indirect income as well as non-income titles, according to Adugna Ashagre, head of the Kirkos District Revenue Office. This number exceeds the set target for the period and that of the same period last year, according to Adugna.

Oromia Insurance Overachieves Target

Oromia Insurance Company collected a premium of 28.8 million Br within 11 months surpassing its plan of 23 million Br annually. The company has a total of 3,678 policies issued with a total insured sum of over 5.5 billion Br. The insurance firm, established a year ago, has achieved more than its predicted goal because of its great promotional efforts and closeness with its customers, according to Mitiku Abdissa, CEO of Oromia Insurance.

 Investors with 9b Birr Capital Get Licences

The Oromia Investment Commission has issued licences to investors with over 8.9 billion Br combined capital over the past six months. The licence was issued to 670 local and 183 foreign investors, Mekonnen Fufa, head of the Public Relations Office at the commission, said. The investors were licensed to engage in agriculture, industry and service delivery fields, among others, he said.

Zone Licenses Investors

Investors with over 10.1 million Br in combined capital have been licensed in the East Hararghe Zone over the past six months, according to the zone's investment office. The licences were issued to 10 local investors, Sintayehu Feleke, head of the zone's investment office, said. About 46 investors licensed with over 920 million Br during the past five years are carrying out their activities.

Ethiopia to Pass Laws to Boost Mining by Mid-2010

Ethiopia's parliament is expected to pass a new mining law aimed at boosting investment in the sector, according to Sinknesh Ejigu, state minister of Mines and Energy. Parliament might approve the legislation by mid-2010, according to her. Mining contributes 5.8pc of the country's gross domestic product (GDP) with gold, tantalite and gemstones being the main exports.

Ethiopia, Kenya to Hasten Power Output

Prime Minister Meles Zenawi and President Moi Kibaki of Kenya, present in Addis Abeba for the 14th African Union Summit, issued an order to hasten the output of electric energy being produced by Ethio-Kenya electric power production. The two heads of state were seen deep in discussion during the meeting on February 3, 2010 in what was a caucus over the process of hydro-power production being undertaken as a joint venture by the two countries. PM Meles and the Kenyan president have stated that it is their desire to promptly link the power grids of their respective countries.

Embassy to Inaugurate Chancery, Residence

The Ethiopian Embassy in Khartoum, Sudan is going to inaugurate a complex built with an outlay of over 80 million Br. The Ethiopian Government decided to create an asset in Sudan by constructing a chancery and embassy residence building, according to Ali Abdo, Ethiopia's ambassador to Sudan. The complex will also undergo a facelift.