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Addis Abeba Relaxes Procurement Restrictions to Prevent Health Crisis


Addis Abeba Relaxes Procurement Restrictions to Prevent Health Crisis

The Addis Abeba Finance Bureau has partially lifted its city-wide procurement freeze, exempting life-saving medical supplies from a fourth-quarter spending ban. The bureau had earlier imposed a sweeping restriction on municipal expenditure to enforce fiscal discipline and curb end-of-year budget pressures across public institutions. However, the blanket freeze raised concerns within the health sector, with hospitals warning of shortages in essential supplies. Officials acknowledged that restricting procurement of medicines, laboratory chemicals, and reagents could pose risks to public health, prompting a policy adjustment. Under the revised directive, public hospitals and health centres are now allowed to resume procurement of critical supplies through open and competitive bidding, provided funds are already allocated within approved budgets.

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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...


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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...