Most grade one contractors can’t make payroll

Ninety percent of the 50 currently operating grade one contractors are not paying salaries to their employees on time according to the information that Capital obtained from contractors. https://www.capitalethiopia.com/featured/most-grade-one-contractors-cant-make-payroll/

Illegal trading quashes gold supply

The Attorney General has been looking into the cause of the decreasing gold supply on the legal market and has found that around 40 gold extractors have not been selling gold despite obtaining a gold detector machine, in Gambela. https://www.capitalethiopia.com/featured/illegal-trading-quashes-gold-supply/

Ethio-telecom rebrands service centers, introduces new channels

The sole telecom service provider, ethio telecom, began rebranding its service centers around the country this month for the first time in nine years. The telecom, which had 6 million active subscribers in 2010 is planning to implement a customer visit management system to improve performance and resolve previous complaints. https://www.capitalethiopia.com/featured/ethio-telecom-rebrands-service-centers-introduces-new-channels/

A Liminal Story

Hard to believe that it’s only been a year since PM Abiy Amhed (PhD) came to power and completely changed the political, social and economic life in Ethiopia. To celebrate the first anniversary, the Prime Minister’s Office held a two-day forum called: https://www.capitalethiopia.com/featured/a-liminal-story/

Where Do We Go From Here?

“I was inspired by my mother and pass knowledge to my daughter and others…” Meskerem Assegued

Women continue to wow us in March and beyond. Here is yet another to add to the list, one of my sheroes, Mesekerem Assegued, founder of Zoma Museum. https://www.capitalethiopia.com/discourse-with-dr-desta/where-do-we-go-from-here/

Court rules against Zemen in Holland case

The Federal First Instance Court gives has ruled against Zemen Bank, who sued the under liquidation Holland Car Plc, for 20 million birr. https://www.capitalethiopia.com/capital/court-rules-against-zemen-in-holland-case/

Academy Lecturers receive both house and stipend

The Auditor General is investigating a case after finding that 30 condominium houses were given to Meles Zenawi Leadership Academy’s Lectures who were also receiving more than 5,000 birr for housing allowances. https://www.capitalethiopia.com/capital/academy-lecturers-receive-both-house-and-stipend/

BLACK SUPERHEROES

“I am very passionate about making a lasting positive impact in one of the most significant communities I belong to: the African community.” Beserat Debebe



Beserat Debebe is the founder behind Ethiopian based Etan Comics who has just introduced superhero HAWI. She is derived from a story of the 20 year old Emnet Legesse Ethiopian born in the United States of America who returns to Ethiopia for a family visit. https://www.capitalethiopia.com/discourse-with-dr-desta/black-superheroes/

United Insurance pays 24m birr to Tiger Soap

United Insurance Company SC (UNIC), one of Ethiopia’s oldest and largest private insurance firms has paid out their second highest claim. This week they covered a loss suffered by East African Tiger Brands Industries PLC soap factory located around Bishoftu. https://www.capitalethiopia.com/capital/united-insurance-pays-24m-birr-to-tiger-soap/

Cutting trees puts Holy Trinity Cathedral Church in grave trouble

The Addis Ababa Cultural and Tourism Bureau is planning to sue Holy Trinity Cathedral Church after finding that 25 indigenous trees had been cut to build a private grave yard on 150 square meters of land inside the church. https://www.capitalethiopia.com/capital/cutting-trees-puts-holy-trinity-cathedral-church-in-grave-trouble/

Tax breaks for agriculture

Ethiopia imports over 5,900 items annually, these include: finished goods, raw materials for light industries, fresh food items for processing, and packed agricultural products. Ethiopia, which primarily exports agricultural products, currently has exported 220 items. Imports of food items have significantly increased. Eighty percent of Ethiopia’s labor force and foreign currency earnings come from agricultural exports. The government says agricultural development and achievement will lead to industrialization. This is called Agricultural Development Led Industrialization (ADLI). https://www.capitalethiopia.com/capital/tax-breaks-for-agriculture/

IF NOT CAREFUL WE CAN LOSE ETHIOPIA

Everybody in Ethiopia wants a solution to the current political problem …and something that works. Unfortunately there can be no solutions until the problems are clearly exposed. The country is bankrupt, investment has literally stopped, the Diaspora is going back, the country is polarized along ethnic lines and key political leaders don’t talk to each other. It’s like an apocalyptic movie playing out in real life. https://www.capitalethiopia.com/opinion/if-not-careful-we-can-lose-ethiopia/

Retirement age increased for educators

The Ministry of Education is drafting a proclamation to increase the retirement age for academic staff.
Under the new rule educators will be able to apply for two, five-year extension terms. https://www.capitalethiopia.com/capital/retirement-age-increased-for-educators/

Abay Bank’s innovative way to give back

Abay Bank is introducing a new way people can save money to help others. The bank which opened its doors around a decade ago, has introduced a charitable savings account designed to serve humanitarian organizations.
This charitable saving account is a premium interest bearing saving account designed to raise funds from money deposited by people who want to donate or governmental and non-governmental organizations interested in supporting charity organizations from the interest earned in their bank accounts, according to Abay Bank’s statement. https://www.capitalethiopia.com/capital/abay-banks-innovative-way-to-give-back/

Intellectual property rights permitted for bank loan collateral

Assuming it is ratified by the House of People’s Representatives, patent rights could soon be used as collateral for bank loans. A draft proclamation named “Movable Property Security Rights” is proposing this become a reality. This would include patents and products that come from them. It can include patients for physical products or ideas such as would fall under intellectual property law. https://www.capitalethiopia.com/capital/intellectual-property-rights-permitted-for-bank-loan-collateral/

Banks suffering from looting spree

Yinager Dessie (PhD) Governor of the Central Banks told members of parliament that financial institutions are being targeted by looters after unexpected unrest in some parts of the country. https://www.capitalethiopia.com/capital/banks-suffering-from-looting-spree/

Turkish company finally pays nearly 2.1 billion birr in tax

The Turkish multinational construction company, Yapi Merkezi, which is building the 389km long Awash-Kombolcha-Hara Gebaya Railway, agreed to pay 2.1 billion birr in tax levied by the Ministry of Revenue (MoR).
They forked over a down payment of over 471.5 million birr. The company is expected to finish paying off its debt in the next three months. https://www.capitalethiopia.com/featured/turkish-company-finally-pays-nearly-2-1-billion-birr-in-tax/

Condo hopefuls want do-over

A group of people who has saved their 40/60 condo payments has formed a committee and suing Commercial Bank of Ethiopia who is on the verge to transfer 18,000 condo houses to the be beneficiaries. https://www.capitalethiopia.com/featured/condo-hopefuls-want-do-over/

Binding Tariff Information underutilized in Ethiopia

A year ago, Ethiopia implemented a system, used by the EU, known as Binding Tariff Information (BTI). However, importers have found it difficult to use. https://www.capitalethiopia.com/featured/binding-tariff-information-underutilized-in-ethiopia/

PM lauds results, braces to address forex, deficit

This week, Prime Minister Abiy Ahmed (PhD) gave his second press conference since he came to power a year ago. https://www.capitalethiopia.com/featured/pm-lauds-results-braces-to-address-forex-deficit/