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COVID-19 Positivity Rate Reaches Zenith as Fourth Wave Sets In


COVID-19 Positivity Rate Reaches Zenith as Fourth Wave Sets In

The Ethiopian Public Health Institute announced that the positivity rate for COVID-19 has reached up to 89pc in select areas of Addis Abeba where it conducted surveys. People have been flocking to health centres for treatment for a flu-like disease presenting symptoms such as headache, fatigue, back and joint pain, and coughing. The Institute has cautioned the public to take the illness seriously as a potential COVID-19 infection. Of the 55,562 people that went to the health centres in the capital for treatment in the past week, close to half tested positive for COVID-19. Country-wide, the positivity rate is hovering around 36pc, up from five percent two weeks ago. The Institute warns that another wave of the pandemic has come with potentially devastating consequences. Last week alone, some 41 people succumbed to the virus while 260 patients were admitted to intensive care units. Over 33,000 people tested positive over the same period.

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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 tran...


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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...


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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...