Authority Revokes 665 Licences

Dec 5 , 2018


The city’s Food & Drug Authority suspended the licenses of 665 food and beverage service providers in the first quarter of this fiscal year. The businesses were found providing low standards of services to their customers, the Authority announced. The action was taken after the Authority ran an investigation on more than 8,000 food and beverage producers and service providers. Following the investigation, the authority took measures that included revoking their licenses and taking them to court. The authority disposed of expired food and 4,612 bottled soft and alcoholic drinks. The Authority has been taking similar actions on healthcare service providers for poor sanitary issues, according to Getachew Wereti, the Authority’s director. “We will continue our investigation and take the businesses to court,” he added.


Radar

Capital Market Authority Extends Public Company Registration Deadline, Warns Against Unlicensed Investment Bank

Ethiopian Capital Market Authority (ECMA) has granted a final one-month extension for publicly held companies to register, setting the new deadline for April 9, 2025. The extension applies specifically to companies with over 50 shareholders, who are required to submit comprehensive documentation across all industries. Mandatory details include the total number of shareholders, the total number of shares issued, fully paid shares, subscribed shares, and the value of shares on the reporting dat...


Radar

State Corps Post Growth Eyeing Innovation, Market Expansion

The Ethiopian Insurance Corporation (EIC) generated 9.34 billion Br in written gross premiums, marking a considerable 51.7pc increase compared to the same period last year. The Corporation's profit reached 1.2 billion Br, exceeding its planned target by 15pc and increasing by 62.7pc from last year's corresponding period. Executives of Ethiopian Investment Holdings (EIH), Ethiopia's sovereign fund that owns state enterprises, commended EIC for its achievements and provided strategic guidance t...


Radar

Ethiopian Airlines, AfDB Forge Partnership for Bishoftu International Airport Project

The Ethiopian Airlines Group has signed a letter of intent with the African Development Bank (AfDB) to launch a partnership for the ambitious Bishoftu International Airport Project. Mesfin Tasew, CEO of Ethiopian Airlines, and Nnenna Nwabufo, vice president of Regional Development, Integration & Strategy at AfDB signed the agreement. The two officials expressed their intent to consolidate the existing partnership through strategic and innovative engagements to benefit Ethiopia and the wid...