Local Contractor Inches Closer to Stadium Renovation Deal

Jun 5 , 2021


[ssba-buttons]

A local contractor has given the least offer of 39.6 million Br for renovation work on the Yidnekachew Tessema Stadium (also known as the Addis Abeba Stadium). The bid, which has garnered the attention of 26 contractors, was first floated in February 2020 by the Federal Sports Commission. Friends Engineering Plc, Barecha Fita Contractor, and BGM Construction made it to the final phase, beating out five other contractors who failed to pass the financial evaluation. Friends Engineering submitted the lowest offer at 39.6 million Br, Barecha Fita offered 50.3 million Br, and BGM Construction named 54.9 million Br as its price. Though the bid was first floated on February 13, 2020, there were not enough competitors and it was floated again in April 2021, and then opened later that month. ''The winner will be decided in a week,'' said Lulseged Getachew, finance director at the Sports Commission. The stadium currently has a seating capacity of around 30,000 people and was first built in 1940


Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...


Radar

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...


Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...