Borkena
Toronto – Ethiopian Banks are poised to charge what looks like a levy on their digital and other services starting this month.
Money they raised from it is to be channeled to the Disaster and Risk Management Commission. It is an imposition from the government to respond , from domestic sources, to natural and man made disasters.
The office wrote a letter, according to sources, to banks directly to collect money from the service they are delivering and channel it to Disaster and Risk Management Fund accounts.
Banks have reportedly sent out text messages to their clients to advise them about it. Awash Bank, for example, has reportedly introduced 1 percent charge on any form of loan and 5 percent on digital banking services. And it starts from this month ( it is now Yekatit 18 in Ethiopia which is the sixth month in the Ethiopian calendar).
In addition to Banks, institutions like Ethio Telecom have introduced a fee increase about a week or so ago. Ethio Telecom made price adjustments twice in this Ethiopian year. It is now charging unto 700 more Ethiopian birr on different services it is delivering to the public.
It is also reported that Addis Ababa City Administration is charging 0.5 percent from salaries of employees. Residents of the city are also paying an additional 5 birr on their water bills.
Businesses in the country have recently been complaining that the government is over-taxing business – something that is said to have impacted small businesses. Recent reports indicated that millions of businesses returned licenses to close their business.
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