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Health Ministry Receives Additional Support


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The Ministry of Health has acquired a batch of medical equipment to aid the response to the Novel Coronavirus (COVID-19) pandemic from international and local donors. Personal protective equipment (PPE), IR thermometers and hand sanitiser were provided by Engender Health, a nonprofit organisation based in Washington, DC, active in women's health, as well as sexual and reproductive health. The donation is worth 15.5 million Br. An additional 100,000 testing kits were also presented by ByteDance, a Chinese social media company that owns TikTok. The handover ceremony was attended by the ambassador of China to Ethiopia, Tan Jian. The Ministry also received 1.1 million Br worth of PPE, IR thermometers and hand sanitiser from Direct AID Society, a voluntary non-governmental organisation working on development projects. The Lions Club International Foundation, for its part, donated half a million Birr worth of isolation gowns.


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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...