Addis Ababa has been recognized as a frontrunner among African cities in terms of rapid financial system transformation.
A joint study conducted by the Addis Ababa City Administration, the United Nations Economic Commission for Africa, and other institutions has revealed that Addis Ababa is one of the African cities that has shown the most significant advancements and rapid changes in the implementation of financial management systems.
A report based on the city's revenue collection and financial system since the COVID-19 pandemic was presented, and an assessment of the report was conducted in Bishoftu.
The Deputy Mayor of Addis Ababa, Wondmu Seta (Eng.), along with officials from the United Nations Economic Commission for Africa and stakeholders from various countries, participated in the forum.
The report also indicated that among the African cities studied, Addis Ababa has achieved better results in terms of wealth creation, converting that wealth into jobs, and meeting various standards.
The purpose of the study is to open doors for the development of sound and sustainable policies and for taking the next steps.
In particular, it was highlighted that Addis Ababa is taking the lead in efforts to create wealth beyond simply collecting revenue.
Addis Ababa has been identified as one of Africa's self-sustaining cities that generate their own revenue, and the ongoing development projects have been cited as evidence of this reported AMN.