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Ethiopian Innovators Shine at Start-Up Competition


Ethiopian Innovators Shine at Start-Up Competition

Three Ethiopian innovators have emerged victorious in Total Energies' annual start-up competition. Open to entrepreneurs aged 18 to 35 owning businesses less than three years old, the competition aims to support groundbreaking projects across the continent. The competition has awarded 100 innovators from 32 African countries. Total is celebrating its 100th year anniversary. The fourth Ethiopian edition of the Startup of the Year competition was held last week at Skylight Hotel. Menberu Zeleke was recognized for his invention 'Solar Mekes', a solar-powered automatic onion root and leaf cutting machine aiming to enhance productivity and save time and energy by harnessing solar energy. Ermiyas Tefera developed 'Korojo Eco Package and Bags' which is an eco-friendly and biodegradable packaging. Utilizing agricultural residues like banana pseudo-stems, enset, and rice straw, he aims to replace plastic bags, reduce environmental pollution, and convert agricultural waste into valuable products. Adugna Nigatu, owner of 'Alene Bio-gel Fuel Production', focused on producing biogel fuel from spent coffee grounds and bio-based additives. This thick liquid-fuel burns with a clear flame and offers cooking efficiency comparable to gaseous fuels.

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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...