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




AFD Combats Climate Change Via Water Project

Sep 10 , 2023


[ssba-buttons]

A one million euro project aimed at helping Ethiopia adapt its groundwater resources management to climate change was launched last week by the French Public Research Institute BRGM (the French Geological Survey) in collaboration with the Ministry of Water and Energy. The project is funded by the French Development Agency (AFD) and aims to map the suitability of Managed Aquifer Recharge (MAR) for mitigating drought and water scarcity exacerbated by climate change. MAR allows for the recharging of excess water, such as floods and treated wastewater into appropriate aquifers to be stored and used later. Aquifer management needs to be improved as groundwater accounts for up to 80pc of Ethiopia's water consumption. The agreement was signed by French Ambassador Rémi Maréchaux, on behalf of AFD, and Minister Habtamu Itefa (PhD) at the Ministry's office, Haile Gebresilasie Street. The ambassador noted that France is committed to supporting climate-resilient water access in Ethiopia, both through this project and through continuing to partner with other countries such as Denmark. Climate change has introduced global shocks in rainfall increasing the frequency of droughts with the consequences being felt by developing countries most harshly.


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...