Parliament Paves the Way for Special Economic Zones

Apr 21 , 2024


Lawmakers approved a proclamation aimed at overseeing the development and administration of Special Economic Zones (SEZs), which are envisioned as an expanded and integrated version of industrial parks. Drafted by the Ethiopian Investment Commission, the proclamation sets minimum capital requirements at five billion Birr with the primary goal to catalyse the manufacturing sector by attracting higher investments and optimising logistics operations. The oversight will be entrusted to the Ethiopian Investment Board, chaired by Prime Minister Abiy Ahmed (PhD). It includes key figures such as Hana Arayaselassie, the commissioner of the Ethiopian Investment Commission; Mamo Mihretu, governor of the central bank; Ahmed Shide, minister of Finance; Fitsum Asfaw, the minister of Planning & Development, and Girma Birru, the senior economic advisor to the Prime Minister. Despite past failures, including underperformance in industrial parks where export revenue has fallen short of initial investment costs, the government aims to revitalise the sector through the SEZ framework. Under the new proclamation, ambitious projects like the Dire Dewa Free Trade Zone, located 445Km east of Addis Abeba on a 150hct plot, will fall within its purview. The larger Geda Special Economic Zone, situated 65Km from the capital in an area shared by Mojo, Adama, and Shashemene, will be included. It has a developed area spanning 5,000hct, representing a fifth of its intended size.


Radar

Parliament Reviews Bill Allowing Foreign Property Ownership

A draft proclamation that would allow foreigners to own or occupy immovable property in Ethiopia has been submitted to parliament by the Council of Ministers. Designed to attract foreign investment, the draft law plans to ensure that Ethiopian citizens retain their right to land ownership and use. According to a statement from the Prime Minister's Office, the draft was among six agenda items discussed and approved during the Council's regular session held on May 2, 2025. The proclamation is e...


Radar

Speeding in the Spotlight as New Safety Drive Begins

The Road Safety and Insurance Fund Service has stated that drivers are responsible for 68 percent of traffic accidents in Ethiopia, with the remainder mainly caused by pedestrians and road conditions. On this topic, the service launched a one-month mass media campaign on last week focused on raising awareness about speeding, the leading cause of traffic accidents. The campaign, under the motto "Slow Down, Speeding Ruins Lives," plans to shed light on the dangers of speeding. Yohannes Lemma, E...


Radar

Askari Metals Secures Five Gold Licenses in Untapped Adola Belt

Askari Metals has acquired 100pc of Rift Valley Metals, gaining five gold exploration licences covering 460sqkm in Ethiopia's Adola Greenstone Belt, part of the southern Arabian-Nubian Shield, a mineral-rich but underexplored region. "The exploration areas—Sakaro, Sakaro West, Lega Dembi South, Megado, and Wayu Boda—lie near Ethiopia's top gold mines, including Lega Dembi and Sakaro, which have produced over three million ounces of gold. The area is known for orogenic gold systems hosted...