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Trade Ministry Handles 1b Br of Acquisitions and Mergers

Apr 9 , 2022

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The Ministry of Trade & Regional integration processed the acquisitions and mergers of 39 local companies with a value of 1.08 billion Br over the first eight months of the financial year. The firms involved were engaged in technology, health services, construction, agriculture, and manufacturing. The Ministry also handled cross-border acquisitions and mergers of eight companies with a registered capital of nearly 24 billion Br. The value of the acquisitions and mergers is estimated at 76.9 million Br. Its officials have also passed decisions on the acquisition of seven companies through the Common Market for Eastern & Southern Africa (COMESA). These companies transact over 252 million dollars through their regional offices in Ethiopia, according to a report availed by the Ministry.

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New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...

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City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...

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Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...

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