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




BELAYA Launches "Sport" Water Brand

Nov 19 , 2022


[ssba-buttons]

A private company, BELAYA Industrial Plc, has inaugurated a water bottling plant, launching a brand dubbed “Sport”. The brand is 105th bottled water in the market and the third slated for export. The plant was erected two months ago in Sululta Kebso-Wesarbi town, Oromia Regional State, on a 24,000Sqm plot with a 1.2 billion Br investment. The plant was inaugurated last week in Sululta town in the presence of Melaku Albel, minister of Industry, and the Mayor of Sululta. Close to 90pc of the 20,000 investment licenses issued in Oromia are in and around Sululta, raising 600 billion Br, disclosed Adugna Teshome (PhD), head of the investment bureau. A sister company of Anmaw Alemu Business Group, Belaya has created job opportunities for 420 employees, and will employ about 1200 individuals when it is fully operational who bottle over 9.7 billion litres annually. The company’s executives aspire to introduce soft drinks and juice, employing more than 1,200 individuals.


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...