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




Southern People plebiscite Pulls 410m Br Budget

Oct 31 , 2022


[ssba-buttons]

A referendum in the Southern Peoples' regional state pulled a 410.1 million Br budget. This will be the second referendum held in the Regional State since last year, where over one million people from six zones have voted to form the South Western Regional State. Scheduled in three months, residents in Gedeo, Wolaita, Konso, and five special weredas are set to go to the polls to decide on the creation of what could be the country's 13th regional state. A month ago, Parliament nodded the budget after a bill for over half a billion Birr was tabled by the National Electoral Board. The Board, chaired by Birtukan Midekssa, expects over 3.1 million people to vote in the plebiscite. Approximately 18,000 personnel will be deployed to administer the votes; half of them have been hired. The Board's officials have designed an online platform to receive complaints from voters about the nominated election officials.


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...