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Ethiopia implements taxation overhaul to address USAID funding gap

Ethiopia’s parliament has enacted a sweeping tax reform targeting both private and public sector employees to fill the financial void created by USAID’s recent funding suspension. The newly established Ethiopian Disaster Risk Response Fund will channel these tax revenues toward critical projects previously sustained by USAID, which had been Ethiopia’s foremost development and humanitarian partner. […]

OCP’s 2017 Revenues Hit 48.5 bln Dirham

Morocco’s state-owned phosphates giant (OCP) said its revenues grew 14% in 2017 to reach 48.5 billion dirhams compared to 42.48 billion in 2016. OCP’s phosphates rock sales increased 40% while the group’s revenues from selling fertilizers jumped 24% compared to 2016. This performance helped the OCP offset a fall in international prices, the company said […]

East African IGAD bloc enhances regional approach towards combating COVID-19

Heads of state and Government of the Intergovernmental Authority on Development (IGAD) adopted Monday a regional approach for the battle against the novel coronavirus disease (COVID-19) outbreak, which is ravaging nations across the globe. This came at an Extraordinary Summit via video conference during which IGAD heads of state and government discussed the strategy to […]