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COVID-19 Jab Campaign Hits 20m Mark

Mar 5 , 2022


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Over 21 million people had been vaccinated against COVID-19 as of last week. Health professionals have administered close to 26 million doses of COVID-19 jabs since the Ministry of Health kicked off its vaccination campaign last April. The figures are approximately 20pc of the population, a target the Ministry had set for the end of 2021, though much of the inoculations came a couple of months late. Some 192,000 people have also received booster shots, according to the Ministry. Next week will mark two years since the first COVID-19 cases was recorded in Ethiopia. Nearly 470,000 people have contracted the virus during the period, with around 7,500 losing their lives to the pandemic. Infection rates have plummeted over the past few months. Less than one percent of diagnostic tests conducted last week registered positive results.


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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...