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Showing posts from October, 2011

South to supply 171,000 tons coffee to central market

South, October 23, 2011 (Hawassa) - Some 171,000 tons coffee will be supplied to the central market from South Ethiopia Peoples' State in the current Ethiopian budget year, the regional marketing and cooperatives bureau said. Speaking at a day long relevant workshop in Hawassa Town of the state on Saturday Deputy bureau head, Abraham Demissie said the amount will exceed by more than double that of same time in the previous budget year. More than 75,440 tons coffee was supplied to market during the last budget year. Abraham said a total of 290,000 tons of coffee is expected to be harvested in the region during the reported period. More than 100 private investors and representatives of associations took part in the workshop

Ethiopia’s Imperfect Growth Miracle

Ethiopia―Africa’s sixth-largest economy and second-most populous nation, home to 90 million people―has recently attracted global attention because of its double-digit economic growth. According to the  Economist , Ethiopia was one of the world’s five fastest-growing economies in 2010. Despite the country’s remarkable growth performance in recent years, however, its record in promoting socio-economic development is mixed. Ethiopia has made significant strides in reducing rural poverty, improving life expectancy, and raising education levels. But these gains have come with rising urban income inequality and surging inflation. It is also not clear whether the services sector, which has accounted for nearly half of GDP growth since 2004, can continue to serve as an economic engine. Impressive Growth Story Since 2004, Ethiopia’s economy has grown by an unprecedented 11 percent on average—up from less than 3 percent annual growth during the previous seven years and much faster than average

Businesses in Hawassa, Ethiopia Begin Using Cash Register Machines

Businesses in Hawassa, capital of the Southern Regional State, started using cash register machines as of last Thursday. VAT registered businesses in the city have transferred from using hand prepared VAT receipts to using the cash registers according to the report. The cash register machines enable VAT registered businesses to abandon the use of VAT receipts except when power outages occur said Seleshi W/Mariam in charge of the tax awareness training process for the regional tax authority. The use of the electronic reporting machines ensures a smooth and speedy relationship between business and the tax authorities he explained. The system also avoids presumptive taxation according to Seleshi. The businesses were offered preparatory training on the use of the machines and the legal and regulatory directives that go with them said Seleshi . The use of the cash register machines in Hawassa is ground breaking for the Southern Regional State said Seleshi. It is expected that the system wi