Category: Business

Addis Ababa: A two-day conference aimed at leveraging digitalization to improve tax compliance and revenue mobilization has concluded in Addis Ababa today.

The international conference organized by Ministry of Revenues, in collaboration with the World Bank, has attracted many experts and stakeholders from emerging countries.

Briefing the media, Revenues Minister Aynalem Nigussie underscored the significance of digitalization in improving revenue collection by enhancing efficiency and minimizing cost.

Collecting revenue through digitalization also enables the tax administration to be fairer and transparent as compared with the manual system.

According to her, the Ministry of Revenues has been developing software to digitalize more the revenue collecting system.

At present, several platforms that enable tax payers to pay online have been established and those are contributing to enhancing the efficiency of collecting revenue.

World Bank Lead Governance Specialist in Ethiopia, Rajul Awasthi told ENA that t
he purpose of the conference is to improve the efficiency and effectiveness of tax administrations by implementing digitalization.

Noting that there haven challenges in Africa for many decades in the sector, he added that the World Bank is now helping countries to address the challenges through financing and technical assistance.

For him, digitalization is the best way to move forward in improving efficiency and effectiveness of tax administration and the World Bank is committed providing continuous assistance to realize digitalization.

According to Awasthi, the conference has created a platform for peer-to-peer learning between countries in the field.

Delegates mainly from African countries, including Nigeria, Zambia, Ethiopia, Kenya, Rwanda, Uganda, Tanzania, Malawi, Zimbabwe, South Sudan, and Somalia, as well as experts from other countries have participated in the conference, it was learned.

The World Bank lead governance specialist, who stated that the Bank has been involved in helping countries to
improve their tax systems, improve domestic revenue mobilization through financial and technical assistance, said the World Bank is working closely with ministries of Revenues and Finance to improve the capacity in the sector.

Source: Ethiopian News Agency

Addis Ababa: Ethiopia has been intensifying diplomacy to connect the nation’s economy with the global market, according to Ministry of Foreign Affairs.

In an exclusive interview with ENA, Foreign Affairs State Minister Mesganu Arga said that Ethiopia has embarked on rigorous economic reforms aimed at opening up and connecting it with the global economy.

‘As part of the Homegrown Economic Reform Program, Ethiopia is now liberalizing and connecting our economy with the global economy.’

The Ethiopian Investment Board has recently issued a new directive outlining that foreign investors can engage in specific trade investments and in the previously reserved businesses including export, import, wholesale and retail trade investments.

According to the state minister, these economic reforms and initiatives have a paramount importance to opening up the economy and linking it with regional markets such as the African Continental Free Trade Area (AfCFTA.)

He added that Ethiopia is also gearing up to be part of the
World Trade Organization (WTO). The process being expedited is imperative to Ethiopia in order to access global trade opportunities.

The Ethiopian government has been currently implementing a new economic reform blueprint, dubbed Homegrown Economic Reform, with a major aspiration to unlock the country’s development potentials.

Following the reform program, Mesganu noted that promoting economic opportunities and investment potential has become at the heart of Ethiopia’s diplomacy.

‘We have realized that investment promotion and confidence building for global economic activities are pretty much imperative to our diplomacy. In this regard, attracting foreign direct investment and connecting our economy with the global market are important steps carried out.’

To realize these economic endeavors, trade and investment promotion activities have been conducted by foreign missions, consulates and diplomats, it was learned.

Looking for additional markets globally, attracting more investments, as well as promoting
domestic tourism potentials are at the epicenter of the economic diplomacy.

The state minster pointed out that Ethiopia’s foreign policy is anchored on strengthening partnership with neighboring countries, and the policy essentially prioritizes economic integration to achieve joint regional development.

Further elaborating on the country’s economy, Mesganu said that it has shown significant resilience amidst global challenges.

‘Our GDP has redoubled and our economy has registered a fast growing record. Thus, this has been encouraging us to reinforce the economic foreign policy missions in the region and beyond. We are really working hard as a country to bring about development and achieve growth internally and also sharing achievement to the neighboring countries.’

Moreover, he reaffirmed the commitment of Ethiopia to connecting with its neighboring nations in terms of infrastructure as well as sharing its development ambition and integration agenda through road and railway.

For the state minister, those
agendas are quite important and they are the main focus for our foreign policy since the economic dividend is for mutual benefits.

For the economic ambition of the country to come to fruition, Mesganu underlined that Ethiopia always seeks jointly and collaboratively working with the global community and with the neighboring countries.

In this respect, he explained that Ethiopia is committed to the securitization, joint development, and economic integration of the region.

‘So our agenda is peace, economic development, integration, trade promotion and large infrastructure connectivity between the neighboring countries,’ the state minister stressed.

Furthermore, Mesganu called on the neighboring countries to genuinely understand Ethiopia’s quest for access to sea.

‘Our right to have seaport access is based on rational ground,’ he noted, adding that there will also be opportunities for neighboring countries in the expanding economic activity and the large economy of Ethiopia.

Source: Ethiopian News Agency

Addis Ababa: The attention given to startups will create opportunity to put innovations into practice, startupers told ENA.

Recall that Ethiopia has recently set its eyes on becoming a beacon of opportunity in the global startup landscape.

Startuppers who talked to the Ethiopian News Agency stated that the attention given to the sector will create opportunity to put innovations into practice.

Among the startuppers, Fitsum Sileshi the backend developer for ‘Adot, explained that the focus on startups is instrumental in securing financial support to initiate work by facilitating the introduction of creative projects.

This attention will enable startups to fulfill their role in supporting efforts to create job opportunities for citizens and contribute to economic growth.

According to her, Adot company aims to support mothers throughout their pregnancy journey and beyond by providing content, informative support, and access to doctors.

Fitsum emphasized the pressing issue of preventable or manageable disease
s leading to maternal mortality, stating that their mobile application seeks to address this by providing vital information to mothers in need.

The platform is a very cultural sensitive and also locally relatable product, according to the startupper, who added that this means mothers can understand what ‘we are giving them as article and also as content.’

‘We are targeting mothers who speak Amharic and also have access to smartphones. But soon we will be able to have more access to mothers speaking other languages and living in rural areas.’

The other startupper, Bereket Addis, has developed a technology called ‘Asbeza’ that includes e-commerce and logistics to easily provide an online grocery delivery service.

He highlighted the favorable conditions for startup growth in the country, adding that the government’s focus on startups, through the formulation of supportive policies and provision of other assistance, is fostering favorable conditions.

By fostering entrepreneurial environment and supporting st
artups, countries like Ethiopia can unlock a potent engine for sustainable development and prosperity, he noted.

According to Negede Yisak, an expert at Ministry of Innovation and Technology, the emerging trend of startups has been capitalizing on the favorable environment fostered in the country.

A recent announcement of a business plan competition attracted approximately 300 startups, with 20 of them advancing to the final round.

From this, 10 startups will be selected to receive support, including access to an incubation center, tailored training, and mentorship within their respective fields.

Source: Ethiopian News Agency

Key stakeholders in decentralisation have a collective responsibility to ensure that all the people of this country are provided with the quality and quantity of public goods and services.

This is according to Urban and Rural Development Minister, Erastus Uutoni, who said that it is of vital that stakeholders continue to harmonise and strengthen multi-levelled coordination mechanisms between the central and subnational organs of the government.

‘It is a commonly accepted fact that proper coordination removes duplication of efforts and wastage of resources on the one hand, whereas, on the other hand, it promotes efficiency in resource utilisation and synergies across and between sectors.

This position is so much in harmony with the general principle of shared responsibility, and complementarity as well as cooperation between different levels of government as stipulated in the African Charter on the Values and Principles of Decentralisation, Local Governance and Local Development, Uutoni noted.

The minister
made these remarks on Tuesday at the 2024 Annual Consultative Decentralisation Forum taking place in Swakopmund.

The meeting is taking place under the theme ‘Towards the full implementation of the Decentralisation Policy in Namibia’ and provides an opportunity for the Ministry of Urban and Rural Development (MURD), Regional Councils, Line Ministries and other partner government institutions, as key role players in the implementation of the Decentralisation Policy, to reflect and assess the progress made thus far.

The forum is also a platform to share best practices and ideas, discuss challenges that are being encountered and most importantly, to collectively formulate strategies and remedial measures to overcome any such challenges going forward.

As a demonstration of government’s resolve to ensure that the decentralisation policy is effective, MURD commissioned a study through an independent consultancy to assess the national status of the implementation of the policy as per the Harambee Prosperity Plan I
I.

This is expected to be completed during the third quarter of this financial year 2024/25.

Adopted in 1997, the Decentralisation Policy provides the basis and a framework for the Government to devolve functions, responsibilities, powers and resources to the lower levels of Government namely regional and local governments.

The meeting ends on Thursday.

Source: The Namibia Press Agency

OPUWO: The Namibia Investment Promotion and Development Board (NIPDB) engaged the business community and traditional leaders in the Kunene region on the region’s investment and business demographics intending to promote the region’s economic development.

The meeting held on Monday at Opuwo under the theme ‘Unlocking Investment Opportunities for Inclusive Growth,’ was aimed at specifically addressing the various challenges faced by businesses and investors, as well as working to remove the barriers impeding Namibia’s economic development, such as stakeholder collaboration to deliver quantifiable economic outcomes.

During the engagement, NIPDB’s Chairperson and Chief Executive Officer (CEO), Nangula Uaandja, challenged the region to explore and capitalise on existing and new business and investment prospects in the region, thus contributing to government growth through increased local exports.

‘We should increase our local exports and exchange them in foreign currencies to support the government’s growth, an
d Kunene should also discover local capabilities that will help Namibia develop.

We need more Namibian companies and we exist to create investment opportunities by building trust. We need to help Namibia’s government achieve Vision 2023 so that the country can grow through exports,’ she said.

Looking at Kunene’s business prospects that extend to the Atlantic Ocean, Uaandja advised the region to leverage the Kunene coast with the burgeoning Green Hydrogen project, and the diverse raw minerals that will assist transform energy.

She also called for collaborative engagement among all stakeholders to discover investment opportunities rather than relying on the government, as this will encourage regional development.

Furthermore, Uaandja encouraged traditional authorities to negotiate land transactions in good faith with potential investors, emphasising that these arrangements should benefit communities rather than individuals.

Kunene Governor, Marius Sheya, while echoing Uaandja’s statement, appealed for fair
opportunities for all and a collaborative approach to business growth to improve the Kunene region through value chains.

According to Sheya, Kunene has immense economic potential; but, infighting among traditional leaders is hampering progress.

‘Let us put an end to these internal conflicts and grow the region as a whole. Let us work together, for the common goal of the region,’ Sheya stated.

Source: The Namibia Press Agency

WINDHOEK: The Namibia Investment Promotion and Development Board (NIPDB) on Tuesday launched a guide for the fatty oil industry to assist and empower local micro, small and medium enterprises (MSMEs) in accessing international markets.

NIPDB executive director for talent, innovation and productivity, Julia Muetudhana, said that the Namibia Fatty Oils Export for MSMEs guide offers new entrants insights and strategies that can elevate their cosmetics exports.

‘Namibian fatty oils have successfully carved out a significant market niche in Europe, owing to their exceptional quality and diverse applications. Renowned for their purity and unique composition, fatty oils, such as marula and manketti, have gained popularity in the European cosmetic and skincare industry,’ Muetudhana said during the launch on Tuesday.

‘Through this export guide, we aim to empower MSMEs within the cosmetics sector with key insights to penetrate the European market. Ultimately, we would like to see you selling your products in major m
arkets across Europe and creating sustainable employment opportunities for Namibians,’ she added.

The guide primarily focuses on marula oil, also known for its nutritious oil, which is a valuable ingredient in beauty and skincare products. It is highly prized for its moisturizing qualities and chemical stability.

Therefore, the guide provides local enterprises with information that can support them in their export preparations to the European Union.

Muetudhana said that the guide was produced with the help of multiple partners, including the German cooperation agency, GIZ, through its BioInnovation Africa project.

On his part, GIZ’s BioInnovation Africa team leader, Klemens Riha, said that the guide will increase understanding of international trade rules and regulations.

‘The guide will also help develop capacity in the private sector, contributing to resolving obstacles that exist to get a foothold in the regional and international markets and to promote biodiversity-based enterprises,’ said Riha, who
is also responsible for climate change and the inclusive use of natural resources.

Source: The Namibia Press Agency

To lower the chance of accidents and car damage, the Eenhana Town Council has started road repairs at the town.

Town spokesperson Ottilie Shingenge, in an interview with Nampa on Tuesday, said that the work is being done through the Department of Urban Development and Technical Services.

Shingenge indicated that the focus is on road works, maintenance and rehabilitation of potholes, uneven surfaces, as well as faded road markings which are likely to cause vehicles to lose control or suffer damages, that can lead to accidents.

According to Shingenge, every financial year Council makes a budget provision for road maintenance, which is fully subsidised by the Road Fund Administration.

‘The road maintenance work is done on an annual basis as we are aware that during the rainy season, roads are prone to damages, which normally results in uneven surfaces and potholes around town,’ she said.

She added that the council in this regard employs individuals or residents on a contract basis to perform the actual work
of road maintenance.

She stressed that the council did not contract a company to do road maintenance, but rather employed local people on a contract basis, of which the majority are from marginalised groups or backgrounds and they conduct this work under the supervision and with the technical department team, overseeing that the work done is up to standard.

Shingenge noted that well maintained roads are safer and reduce rates of accidents or vehicle damage.

Moreover, she stated that the economic impact is that poor road maintenance attracts fewer foreign investors, tourists and visitors alike, which results in limited development, and the town not growing as expected.

This will also mean there will be fewer economic activities because locals will find it difficult to transport their goods due to bad transmission networks.

Source: The Namibia Press Agency