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Document Service Reports Billions in Revenue, Exceeds Half-Year Plan


Document Service Reports Billions in Revenue, Exceeds Half-Year Plan

The Documents Authentication & Registration Service collected over 1.9 billion Br in service fees and stamp duty in the past six months, achieving 112pc of its half-year target. The office, which serves an average of 6,000 clients a day, handled more than 900,000 clients during the period, maintaining full service availability. Officials said 80pc of clients were served through the online system. Client numbers rose by 166,459 compared with the same period last year, driving higher revenue from fees and stamp duties. Measures to curb counterfeit documents, including secure paper and dry stamps, security labels, use of Fayda ID, and system linkages with other institutions, reduced forgery cases by 95pc year-on-year.

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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...