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Adama Receives Satellite Monitoring Station

The Space Technology Institute at Adama Science & Technology University inaugurated a new satellite monitoring station built with 100,000 dollars, according to the Institute.


Adama Receives Satellite Monitoring Station

The Space Technology Institute at Adama Science & Technology University inaugurated a new satellite monitoring station built with 100,000 dollars, according to the Institute. The station is expected to monitor other satellites, and the country plans to send a satellite to space in 2019 with the support of China. The satellite will be launched to observe and track environmental concerns, according to the Institute. The inauguration ceremony for the station was attended by delegates from the Korean Republic, who have committed assistance to the country in space science. The Adama Science & Technology University was first established in 1993 as Nazareth Technical College offering degree and diploma level education in technology fields. It currently works as a centre of excellence in science and technology and operates as a research institute.

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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...