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




Korea Proffers $10m for Ethiopia, Africa

Aug 8 , 2020


[ssba-buttons]

Korea has given 10 million dollars to support the fight against the Novel Coronavirus (COVID-19) pandemic in Ethiopia and other African countries. Ethiopia will receive half of the funding, and the rest will go toward the Africa Centres for Disease Control & Prevention (Africa CDC), a public health agency of the African Union. The support, under the COVID-19 Comprehensive Emergency Response Programme, will be used for the procurement of medical supplies like personal protective equipment (PPE) for frontline health workers. It is also intended for capacity building training for the health workforce responding to COVID-19 in cooperation with the World Health Organisation (WHO). Supporting internally-displaced people through sanitation infrastructure in tandem with the International Organisation for Migration (IOM) is another element of the support. It also aims to build a stronger public-private partnership through the repurposing of small and medium enterprises to improve the domestically produced PPE supply. Africa CDC will use its funds to build up its response capacity for COVID-19 for the whole continent.


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...