FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Ethiopian, Italian Firm Open Blanket Manufacturing Facility

Sep 24 , 2022


[ssba-buttons]

The national carrier has inaugurated a facility for the manufacturing of insulation blankets for Boeing 737-MAX aircraft at its hub in Addis Abeba Bole International Airport. The facility is part of a joint venture between the Ethiopian Airlines Group and Geven Sky Tecno, a division of the Italy-based Geven Group. Ethiopian Airlines holds a 51pc stake in the venture dubbed "Ethiopian Sky Technologies." Ethiopian reinstated the 737-MAX to its fleet last February, nearly three years after the model was grounded following a crash that claimed the lives of 149 passengers and eight crew members. It has since introduced several routes using the aircraft, including flights to Athens and Istanbul. The national carrier has five 737-MAX 8 aircraft stored in its hangars in Addis Abeba.


Radar

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...


Radar

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...


Radar

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...