The Reporter (Ethiopian Reporter English)

Carbon trading: the new frontier? A few weeks ago, the Council of Ministers introduced the first set of laws aimed at regulating the uncharted and untried frontier of carbon trading in Ethiopia. The ‘Forest Development, Protection and Utilization’ regulation allows private investors, as well as local communities, to engage in developing and safeguarding forests, and benefit from carbon sale revenues. The legislation offers several incentives, including tax holidays, priority in land acquisition, and access to finance. The federal government is looking to collect five percent of all revenues generated from carbon sales, while regional administrations are entitled to 15 percent, with the remainder allotted to […] Read More : https://www.thereporterethiopia.com/40745/?feed_id=2573&_unique_id=667bd65ec4007

Ethiopia urges formation of Nile River Basin Commission, fast regional integration  The third edition of the Annual Forum on Regional Integration and Reasonable Utilization of the Nile (AFRIRUN III) was held in Addis Ababa, Ethiopia, on June 15, 2024, under the theme “Shared Resources for Shared Future and Prosperity: Cooperation and Regional Integration through Equitable and Reasonable Utilization of the Nile.” The Forum was organized by the Institute of Foreign Affairs of Ethiopia (IFAE) in collaboration with the Ministry of Foreign Affairs (MoFA) and the Ministry of Water and Energy (MoWIE) of Ethiopia. It brought together senior Ethiopian government officials, diplomats, researchers, academicians, and other stakeholders from Nile Basin countries. Jafar […] Read More : https://tinyurl.com/2odkn3mf

Gov’t seeks budget for nuclear science and tech center feasibility study The federal government has allotted 62 million birr to conduct a feasibility study for the establishment of a Nuclear Science and Technology Center during the upcoming fiscal year. The plans were included in the 2024/25 federal budget proposal presented to Parliament by Finance Minister Ahmed Shide last week. The proposal also included the allocation of 53 million birr to the construction of a satellite assembly and testing station, and a further 201 million birr for the construction of a high resolution earth observatory satellite station. Officials have ambitions to see the upgrade and expansion of the Entoto Observatory and the […] Read More : https://tinyurl.com/2ovprtmq

Special Fund in pipeline to finance Green Legacy, restore degraded lands Proclamation seeks up to one percent of annual budget The federal government is considering the establishment of a special fund to mobilize resources and finance Ethiopia’s Green Legacy Initiative and rehabilitate degraded lands. The ‘Green Legacy and Degraded Landscape Restoration Special Fund Establishment and Administration’ proclamation tabled to the House of Peoples’ Representative (HPR) this week seeks the formation of a permanent source of financing and new budgetary scheme for greenery projects. It proposes to utilize between 0.5 and one percent of the total annual federal budget for this purpose. The draft also states reforestation initiatives will be financed through […] Read More : https://tinyurl.com/2fzoh8rb

Operators decry VAT obligation on ailing tourism sector Finance Ministry leaves tax exemption petitions to cabinet The Tour Operator Association has demanded that the tourism sector, considered an export industry, should be exempted from paying value added tax (VAT) and excluded from the upcoming VAT proclamation. The appeal came during a discussion session on the upcoming tax legislation with the parliamentary standing committee for Planning, Budget and Finance earlier this week. The president of the Association called on the government to support tourism as part of its economic reform agenda, and argued that imposing VAT on tour operators would further strain the already struggling sector. “Imposing VAT on […] Read More : https://tinyurl.com/2f544u8m

Federal Auditor calls for recovery of mismanaged funds Advocates for strong financial audits before stock market entry A report from the Office of the Auditor General reveals that government offices only managed to return 11 percent of the 443 million birr they had been instructed to return to federal coffers following last year’s audit results. It was among the findings revealed by Auditor General Meseret Damte during her annual report to Parliament conducted earlier this week. Meseret said that although she was encouraged by actions taken against those who have abused public resources over the last three years, there is still a need to push to recover more […] Read More : https://tinyurl.com/25f8ycfw

The imperative to act on Auditor General’s report The scathing annual report the Federal Auditor General submitted to Parliament this Tuesday should set the alarm bell ringing. A 60-page analysis of its financial, performance and legal audit findings into the accounts of ministries and other agencies of the federal government for the 2022-2023 fiscal year, the report addresses a raft of issues of critical concern. It highlights several shortcomings that have been rolling over for years if not decades now.The report contains some shocking numbers—14.11 billion birr in receivable accounts, out of which close to 11 billion birr is overdue by 10 years, unsubstantiated expenditures amounting to363 million […] Read More : https://tinyurl.com/22ujkzuy

Jakarta keen for more involvement in Ethiopia This year will mark the 60th anniversary of the opening of an Indonesian embassy to Addis Ababa. Although at first glance, it might seem that the Asian archipelagic nation home to some 270 million people might not have much in common with landlocked Ethiopia, Ambassador Al Busyra Basnur is eager to point out the similarities between the two countries and the potential in closer cooperation. The Reporter’s Sisay Sahlu spoke with the Ambassador for a look at the relations between Indonesia and Ethiopia, the opportunities for trade and cultural exchange, as well as their relationship on the international stage. EXCERPTS: […] Read More : https://tinyurl.com/24ralmqa

Sudan warring parties’ to sit down for talks in Addis Ababa, Cairo in July UN warns of further displacement without peace efforts Addis Ababa will play host to an all-inclusive political dialogue centered around war-torn Sudan for five days beginning July 10, 2024, according to an AU statement released on Friday. The AUC Chairperson, through the AU High-Level Panel on Sudan and in collaboration with IGAD, is working to realize the dialogue in hopes of securing a people-driven solution to the brutal conflict and restoration of constitutional democratic order in Sudan, according to the statement. It came following a meeting between heads of state and government on the situation in Sudan on Friday. The […] Read More : https://tinyurl.com/28kqlsop

TotalEnergies eyes customs duty cuts for EV charging infrastructure ambitions TotalEnergies Marketing has urged the federal government to amend customs duty requirements to facilitate the import of electric vehicle (EV) charging equipment. The French multinational made the call following the inauguration of its first EV charging station on Africa Avenue (Bole Road) built at a reported cost of 80 million birr. The fast-charging station is capable of servicing three cars simultaneously and is compatible with all EV types.. Christophe Ferrand, managing director for TotalEnergies Marketing Ethiopia, highlighted several regulatory and economic challenges that need addressing to support the company’s expansion ambitions. “The regulation needs to address several issues, including determining […] Read More : https://tinyurl.com/2838cy9f