Investors Navigate Land Acquisition Maze

Mar 16 , 2024


[ssba-buttons]

The labyrinthine nature of land lease procedures and bureaucratic hurdles plaguing investor activity were brought to the forefront last week, with corruption emerging as a significant barrier to land acquisition for expansion projects. Ben Depraetere, board chairman of the EU chamber in Ethiopia, pointed to systemic issues that hinder efficient land allocation processes. "The problem lies in the implementation of land laws," he said. Participants echoed the sentiments, highlighting additional concerns. They cited frequent changes in regional administrative structures, coordination gaps between federal and regional authorities, and capacity constraints as exacerbating the difficulties. The session at the Hyatt Regency on Bole Rd was organised by the European Chamber of Commerce in partnership with the EU-funded Business Environment & Investment Climate (BEIC) project. A series of recommendations aimed at addressing the root causes of land acquisition woes were forwarded, including advocating for clear and consistent regulatory reforms, implementing anti-corruption measures, enhancing coordination among authorities, establishing transparent land registries, and developing comprehensive guidelines for land allocation.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...