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




US Launches $4m Project to Improve Institutions

Apr 13 , 2019


[ssba-buttons]

The US government launched a two-year, four-million-dollar project on April 10, 2019, to support and strengthen institutions in Ethiopia. Feteh, which will be funded by USAID, will provide technical support to the Attorney General’s Office and the Supreme Court’s efforts to expand their independent decision-making and oversight capacity. Chief Justice Meaza Ashenafi, joined Bonnie Glick, deputy administrator of USAID, and Michael Raynor, US ambassador to Ethiopia, during the launch of the event in Addis Abeba. “Today, we are opening a new chapter in our partnership. The United States is committed to investing in the capacity of Ethiopia’s legal institutions to achieve their goals of ensuring free and fair elections, promoting human rights, citizen engagement and greater representation,” said USAID Deputy Administrator Glick. The US has invested four billion dollars in development and humanitarian assistance in Ethiopia over the past five years.


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...