Council Approves Bill to Improve Land Compensation

May 25 , 2019


[ssba-buttons]

The Council of Ministers is pushing a bill that determines compensation rates for occupants during relocation from their land tenures. The draft proclamation is aimed at revising the 13-year-old compensation proclamation, which is outdated and would not go in line with the current land development and management system of the country, they said. The Ministry of Urban Development & Construction has devised the draft proclamation, taking into consideration the constitutional rights of the relocated people and ensuring fairness and objectivity during the transfer of the rural and urban plots for public use. These days there are grievances raised in different regions over the displacement of farmers paid with inadequate compensation of land far from their plots. The nation plans to benefit settlers from the new infrastructure developments being built on their land, instead of moving people to a new location. According to the city’s land regulation, the current rate of compensation for a farmer in Addis Abeba is 82 Br for a square meter when expropriated. The Council has discussed and finally directed the bill for further deliberation and legislation to parliament with some adjustments incorporated in the bill.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...