Business : Development Bank of Ethiopia selling textile factory in foreclosure

Business : Development Bank of Ethiopia selling textile factory in foreclosure

Business News January 10,2017 Development Bank of Ethiopia is selling Elsie Addis Textile factory in what is said to be a bid to recover over 900 million Ethiopian birr (the equivalent of about 40 million US dollars with the current rate of exchange) of loan issued to owners. Fana Broadcasting cited Hailu Misganaw,acting corporate information […]

Business : Legadadi, in Oromia region of Ethiopia, to have biggest resort

Business : Legadadi, in Oromia region of Ethiopia, to have biggest resort

Business News/borkena January 2, 2017 Legadadi, a small town 23 kilometers outside of Addis Ababa, is to have biggest resort in four years time, according to a report by Capital. Seemingly, the project is a joint venture by local real estate developer from Ethiopia, who is throwing $150 million US towards the project, and Dusit […]

Business: Internet shutdowns take their toll on economy

Business: Internet shutdowns take their toll on economy

[adToAppearHere] African Business James Jeffrey December 29,2016 Since the government declared a six-month state of emergency at the beginning of October in response to escalating violence from protests seething since November 2015, internet restrictions and blocking of applications have increased in frequency. Beyond simple inconvenience, there is a mounting financial cost. Internet shutdowns in Ethiopia […]

ERCA may increase Value Added Tax withholding : Capital

ERCA may increase Value Added Tax withholding : Capital

[adToAppearHere] By Muluken Yewondwossen Capital Published on December 22,2016 The growing number of requests for tax refunds is causing the government to consider increasing the withholding percentage from Value Added Tax (VAT). In the first four months of the budget year over 2.6 billion birr was slated to be refunded. There have been so many […]