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Ministry Reports Exports Revenue in Current Fiscal Year


Ministry Reports Exports Revenue in Current Fiscal Year

The Ministry of Trade and Regional Integration (MoTRI) has reported that it has earned 5.91 billion dollars from exports over the past seven months, marking a 17pc increase compared with the same period last year and reflecting stronger performance in the current fiscal year. The mining sector contributed the largest share of export revenue, generating 3.14 billion dollars in mineral exports and emerging as the top driver of foreign earnings. Agricultural products also remained a key source of foreign currency, with sesame alone generating about 2.2 billion dollars during the same period. The remaining revenue came from industrial goods, electricity exports, and other sectors, rounding out the country’s export performance.

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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...