FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Banks Donate 32.5m Br for School Feeding Programme

Sep 11 , 2020


[ssba-buttons]

All banks, including the Commercial and Development banks of Ethiopia, have donated 32.5 million Br to the School Feeding Programme. With one million Birr being the lowest contribution and five million Birr being the highest, the donations were given to the programme at the end of last week. Two weeks ago, the newly appointed Deputy Mayor, Adanech Abebie, met up with the president of each bank at Sheraton Addis Hotel to request their help for the Programme. Earlier last week, they received recognition from the Addis Abeba City Administration. The School Feeding Programme was launched at the initiative of the former Deputy Mayor of the city, Takele Uma, and has allocated 1.2 billion Br for the coming school year. The School Feeding Agency is looking for 45 construction companies that will construct kitchen and dining halls across 151 schools in the city. The project, which is estimated to cost 25.5 million dollars, will be financed by the World Bank.


Radar

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 tran...


Radar

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, pa...


Radar

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 i...