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ADDIS ABEBA WAITS ON A RENT CEILING

Addis Abeba’s renters and property owners are waiting on a city government decision that will set how far rents can rise under a two-year-old control regime. Owners feel their income has been frozen as costs climb, while tenants fear another bite out of earnings already stretched thin.

The pressure shows in the numbers. Many households spend more than 30pc of their income on rent, and a substantial minority more than half. A city-centre studio now averages 45,000 Br a month, ranging from 35,000 Br to 65,000 Br. For a family of five earning about 32,000 Br and paying 12,000 Br, a proposed 42pc increase at renewal means weighing whether to move the children from private to public school.

The rent law, two years old, tied annual increases to inflation and living costs, set a minimum two-year lease, and registered close to half a million units, though informal deals persist. A study behind the city officials’ thinking found increases had slowed from 28.76pc to 20.58pc, and suggested that holding inflation below 10pc could steady rent growth near 11.24pc, the ceiling officials now favour.

Beneath the argument lies a shortfall of more than one million homes. With rentals making up more than 61pc of housing in the capital and demand still outpacing supply, a cap may hold prices for a while, but it cannot build the homes the city lacks.

A City Between the Market and the Rules

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The New Gold Standard Comes with a Warning Label

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Ethiopian Weighs Three Jets, Three Maps

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Ethio telecom Stock Doubles as Sellers Stay Away

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Six Homebuyers Take Noah Real Estate to Court

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Addis Abeba Orders Its Big Spenders Off Paper

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A Calm Rates Quote Hides a Split Forex Market

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Prime Capital Joins ESX, Seeks Securities Dealership Licence

Prime Capital has secured trading membership on the Ethiopian Securities Exchange (ESX) and is pursuing a securities dealership licence to expand its brokerage and investment banking services, according to Head of Business Development and Marketing Fikremarkos.

The firm received its trading membership after obtaining an investment banking licence from the Ethiopian Capital Market Authority (ECMA) and meeting all ESX requirements. The licence authorises Prime Capital to execute securities transactions on behalf of investors in Ethiopia’s organised capital market.

Established in 2023/24, Prime Capital became the country’s sixth licensed investment bank and the second independent one after First Addis Investment Bank, joining bank-owned peers including CBE Capital and Awash Capital.

Parliament Ratifies Tax Amendment, Assigns PMO to Lead Conciliation, Imposes 10pc Penalty on Late Evidence

The Prime Minister’s Office will appoint independent tax conciliators while taxpayers face a 10pc penalty for late evidence under the Federal Tax Administration Amendment ratified by Parliament last week.

By shifting the selection of “conciliators” from the tax authority to the PMO, authorities aim to establish a neutral dispute-resolution system to speed up out-of-court settlements. Experts describe the move as a high-stakes reform with notable institutional risks.

The legislation, passed unanimously following a report from the Plan, Budget and Finance Affairs Standing Committee, introduces a 10pc penalty on additional tax liabilities when taxpayers submit new evidence after assessment that significantly alters liability. The measure targets delays linked to withheld information during initial audits.

It also strengthens accountability by holding company managers and finance heads personally liable for tax crimes committed by their organisations unless they prove due diligence and non-involvement.

A transitional clause ensures that cases filed before ratification proceed under the previous legal framework.

Authorities say the amendment is intended to strengthen tax administration, support electronic systems, improve dispute resolution efficiency, and align governance with international standards.

ZamZam Bank Registers Shares, Eyes Capital Market Debut

ZamZam Bank has secured approval from the Ethiopian Capital Market Authority (ECMA) to register its shares, becoming the first fully interest-free bank to complete the regulatory process for public trading.

The approval covers five million existing shares worth five billion Br and one million bonus shares valued at one billion Br, paving the way for the Bank’s future participation in Ethiopia’s capital market. ZamZam plans to raise its capital to 15 billion Br and introduce Sharia-compliant investment products, including Sukuk.

For 2025/26, the Bank reported a 35pc rise in net profit to 1.8 billion Br, a 36pc increase in revenue to three billion Br, and an 81pc jump in deposits to 21 billion Br. Paid-up capital climbed 123pc to 5.64 billion Br, while total assets reached 29.1 billion Br. ZamZam now operates 130 branches and serves more than 973,000 customers.

Right Way to Tackle Developing Countries Cancer Crisis

In Nigeria, a cancer diagnosis is often a death sentence. Nearly 130,000 Nigerians receive one each year, and nearly 80,000 die of the disease. An average of 33 women a day in Nigeria are infected with cervical cancer, and 22 women a day die from it.

The problem is not that interventions do not exist, but that Nigerians, and developing-economy patients more broadly, lack access to them.

Breakthroughs in cancer treatment, especially immunotherapy, have drastically reduced the disease’s mortality in recent decades. A mere generation ago, the idea that the immune system could be trained to fight cancer sounded like science fiction. Today, it represents the most promising front in cancer research, with more than 30 immunotherapies treating 25 different forms of cancer now approved by the US Food & Drug Administration (FDA).

The results speak for themselves. Patients with advanced melanoma were once expected to survive a mere 16 weeks. They now have a one-in-three chance of living for a decade or longer. Likewise, for some lung cancer patients, prognoses that were once measured in months are now measured in years.

But Nigerian patients rarely have access to immunotherapies or other innovative treatments. Even at major hospitals in Lagos and Abuja, doctors routinely find themselves unable to prescribe what they know could help their patients. So, while cancer patients in rich countries live longer than ever, Nigerians, like patients in many developing countries, continue to die.

Some believe that the best way to close this gap is to weaken intellectual-property protections for medical innovations and force drugmakers to give away their treatments at little or no cost. They argue that patent rules and high prices create unfair barriers to healthcare. But this well-intentioned argument overlooks an inescapable reality. Without strong incentives for innovation, advanced treatments like immunotherapy would not exist at all.

The development of new cancer therapies requires immense investment and carries staggering risk. Since most new prospective drugs never succeed, the few that do should make up for the costs of the failures. Nigeria, like many developing countries, does not yet have the economic or scientific infrastructure required to develop its own cancer breakthroughs at scale. It remains dependent on discoveries made in countries like the United States.

If we dismantle the system that rewards their innovative activities in the name of faster access, progress will slow, and future patients in rich and poor countries alike will suffer as a result.

Patents expire, and when they do, low-cost generic versions emerge. In the meantime, several pharmaceutical companies and NGOs have launched initiatives designed to expand access to medicines in developing countries. The system might not be perfect, but at least it allows the breakthroughs to keep coming.

The biggest barriers to access to accurate cancer diagnosis and effective treatment in developing countries are not patents at all, but regulatory delays, weak healthcare infrastructure, and poverty. Instead of attempting to dismantle incentives for innovation, governments should work on reducing bureaucratic red tape, speeding up approvals for imported medicines, and expanding healthcare infrastructure and capacity, which is particularly in short supply in rural areas.

Policymakers should also take action to improve overall living standards. Expanding trade and liberalising markets are among the most effective ways for developing countries to boost economic growth and dynamism. Faster growth, in turn, would enable higher investment in infrastructure and healthcare, while creating job opportunities that increase household incomes.

When lifesaving medicines are out of reach, calls for quick solutions are understandable. But a short-sighted approach risks turning today’s tragedy into tomorrow’s catastrophe. Weakening the incentives that underpin medical innovation will slow the pace of progress. And it is progress that is essential to prevent a cancer diagnosis from becoming a death sentence.