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Ethiopia, Dubai Record Sharp Rise in Non-Oil Trade


Ethiopia, Dubai Record Sharp Rise in Non-Oil Trade

Non-oil trade between Ethiopia and Dubai reached 22.3 billion UAE dirhams in 2025, marking a sharp year-on-year increase of 236.6pc. The figures were announced following a trade mission to Addis Abeba that brought together Ethiopian and Dubai-based companies for bilateral meetings aimed at expanding investment and commercial partnerships across multiple sectors. The “Dubai–Ethiopia Business Connect” forum was organised in collaboration with the Ethiopian Investment Commission(EIC), the Ethiopian Chamber of Commerce and Sectoral Associations, (ECCSA) the Addis Abeba Chamber of Commerce, and the UAE Embassy in Ethiopia. Mohammad Ali Rashed Lootah said the mission aims to deepen economic ties and unlock new private-sector opportunities between the two markets. The delegation included 21 Dubai-based companies operating in construction materials, engineering, electronics, food and beverages, pharmaceuticals, mining, oil and gas, textiles, and garments, while 91 Ethiopian firms joined the Dubai Chamber in the first quarter of 2026, bringing total Ethiopian membership to 1,676.

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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...