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Ministry Secures Full Fertiliser Supply for Current Year


Ministry Secures Full Fertiliser Supply for Current Year

The Ministry of Agriculture has announce that the country not face a fertiliser shortage in the current fiscal year. Minister Addisu Arega, who recently assumed office, made the announcement while presenting his ministry’s six-month performance report to federal lawmakers. He told MPs that the country required 3.1 million quintals of fertiliser over the past six months, all of which was delivered on time. The minister added that about 60 pc of the fertiliser needed for the production year, roughly 12 million quintals, has already been purchased and is being shipped into the country. Combined with stock currently held at ports, there be a total of 19 million quintals available, with the remaining 11 million quintals still in the procurement process.

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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...