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




Agency Invests 10m Br in Vehicles

Feb 15 , 2020


[ssba-buttons]

The Pharmaceutical Supply Agency (EPSA) bought 15 automobiles for 10.5 million Br to enhance the facilitation of the health sector. Manufactured by BAIC Group, a Chinese state-owned enterprise, the sedan vehicles were manufactured in 2018. The vehicles are being received by the Agency starting from February 6, 2020, according to Biruk Sintayehu, the procurement expert of the Agency, which has 200 cars, out of which 190 are equipped with GPS systems. Recently, the Agency, supported by the Clinton Health Access Initiative, has inaugurated a cold chain warehouse with a capacity of 1,104.8 cubic metres of storage. The cold room warehouse that sits on 3,000Sqm was built at a cost of more than 25 million Br within five months. The Agency has 19 branches located throughout the country, two of which are in Addis Abeba, and operates with 2,535 permanent and 314 contract employees. It supplies pharmaceuticals, chemical reagents, medical supplies and equipment to over 4,000 health facilities nationwide.


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...