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Ethio Telecom Signs Strategic Partnership


Ethio Telecom Signs Strategic Partnership

The giant telecom company signed a strategic partnership agreement with the Chinese company which includes the provision of foreign currency to import and develop new technologies. The agreement was signed between Ethio Telecom CEO, Frehiwot Tamru, and Leo Cai, CEO of Shenzhen GreenTech RF Communication Limited and incorporates foreign currency provisions, enabling the import and co-developing of innovative technologies. Greentech is one of the ten largest companies in China and is a pioneer in developing communication and digital solutions. GreenTech is a prominent wireless communications and information network service provider based in China. Established in 1999 and headquartered in Shenzhen, the company specializes in the development, production, and marketing of wireless communication products based on RF (radio frequency) technology.  

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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...