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Ethio-Djibouti Railway Undergoes Major Overhaul to Promote Train Speeds


Ethio-Djibouti Railway Undergoes Major Overhaul to Promote Train Speeds

The Ethio–Djibouti railway is undergoing a comprehensive upgrade, with outdated equipment being removed and replaced with modern components. CEO Takele Uma noted that lines inactive for the past eight years are being restored, with the stretch from Sebeta Railway Station to Djibouti’s Nagad Railway Station receiving high-quality, expedited renovation. Once completed, freight train speeds are expected to rise from 60 km/h to 67 km/h, while passenger services will increase from 70 km/h to 90 km/h. Efforts are focused on bringing out-of-service lines back into operation and fully restoring their intended services. While officials did not clarify the cause of the prolonged interruption, they anticipate the renovations will be finished within four months.

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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...