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Solar Initiative Targets Water Access for Farming, Livestock


Solar Initiative Targets Water Access for Farming, Livestock

The World Food Programme, Germany and the Ethiopian government have launched a solar-powered irrigation project in the Somali Region to bolster food security and drought resilience for pastoral communities. Financed by KfW Development Bank, the initiative is expected to support 17,000 pastoral and agro-pastoral households, or around 85,000 people, through improved water access for farming and livestock. Using solar energy to pump water from the Shebelle River, the project aims to enable year-round food production, including during drought periods. Officials say the initiative is designed to strengthen livelihoods, climate adaptation and long-term resilience. The project has already generated 17.5 million Br in production value during the 2024/25 fiscal year, contributing to higher incomes and stronger protection against climate shocks.

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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...