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Dangote Secures Gas Deal for Major Fertiliser Project


Dangote Secures Gas Deal for Major Fertiliser Project

Dangote Industries has signed a long-term natural gas supply agreement worth 4.2 billion dollars with China’s GCL Group to support a major fertiliser project. The 25-year deal will supply gas to a planned urea fertiliser plant in Gode, located in Somali Region. The facility is being developed by Dangote Group, which holds a 60pc stake, in partnership with Ethiopian Investment Holdings, which owns the remaining 40pc. The plant is expected to become operational by 2029 and is projected to be the largest fertiliser facility in East Africa once completed. The project is positioned as a strategic response to the country's persistent fertiliser shortage, which continues to constrain agricultural productivity. It aims to strengthen domestic supply, reduce reliance on imports, and support broader food security goals.

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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...