The figure is double the 588 million birr profit the state-owned Corporation registered over the whole of the last financial year, and significantly higher than 91 million in profits registered the year prior to that. It is primarily involved in the import and distribution of fertilizer, agricultural machinery, and agrochemicals. The report states the problems have pushed management to stop credit supply. “The Corporation imports fertilizer on behalf of regional states and distributes it to regional states. It reveals the Corporation paid nearly 260 million birr in taxes on fertilizer imported between 2016 and 2020.

Source: Ethiopian News June 08, 2024 08:40 UTC