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




Entrepreneurial Competition Heats Up

Apr 15 , 2023


[ssba-buttons]

A business competition dubbed African Business Heroes (ABH) which offers up to 1.5 million dollars has a month left for registration as the 2023 round comes live. Prospective applicants met with Ethiopia Gebeya, the official partner of the competition, at an event held at the Urban Centre last week, to discuss on the modalities of the competition. Funded by the Chinese business tycoon Jack Ma, the competition has been rewarding businesses across the continent since 2019. One of the runners-up to last year's competition and CEO of Gebeya, Ahmedou Daffe indicated to the audience how they can improve their chances of winning the competition. He emphasized the need for a clear vision and the importance of aspiring to large-scale change. While the winner gets 300,000 dollars all who make it to the top 10 will receive financial assistance along with continued consultation. Last year's winner was Elia Timotheo who was the founder of agri-tech startup East Africa Fruits Co. The rigorous application process requires time hence prospective competitors were advised to get to it before the deadline.


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...