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Wudassie to Undertake 943m Br Expansion

Aug 28 , 2021

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Wudassie & Family Business Plc is preparing to construct two buildings on its 2,000sqm property in Piassa, just off Churchill Avenue. Expected to cost 943 million Br, the expansion will house a specialty medical centre that will offer services including oncology, IVF treatment, and orthopedic surgery. The larger of the two buildings will also contain 12 storeys of housing units. The smaller, 11 storey building, will be fully dedicated to medical service provision. Wudassie Diagnostic Centre was first founded in 2008, and currently operates at four locations in Addis Abeba.

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Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...

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NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...

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SantimPay Launches Zero-fee Digital Remittance Platform

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