2merkato

The House of Peoples’ Representatives has approved a major amendment to Ethiopia’s Customs Proclamation, introducing tougher penalties against contraband trade, including the confiscation of vehicles used to transport illicit goods.

The Council of Ministers has referred the draft Federal Government budget for the 2026/27 fiscal year to the House of Peoples’ Representatives, proposing a total allocation of Birr 2.34 trillion.

The Ethiopian Capital Market Authority (ECMA) has granted a Capital Market Service Provider license to United Capital Financial Services PLC, making it the first foreign investment bank to establish a subsidiary in Ethiopia.

Kefi Gold & Copper PLC reported a pretax loss for 2025, despite stating that the company is now entering a major transition phase as its flagship Tulu Kapi gold project in Ethiopia moves from development toward production.

The Industrial Parks Development Corporation has introduced a new policy measure aimed at supporting domestic manufacturers by offering reduced service fees and four years of free access to selected special economic zones, formerly referred to as industrial parks.

Meter Taxi (hailing) service provider Yango has launched its operations in Hawassa, marking the company’s first expansion outside Addis Ababa.

Ethiopian Airlines Group and the Commercial Bank of Ethiopia (CBE), in partnership with Visa, have launched a co-branded Visa prepaid card aimed at strengthening global payment services for customers.

The National Bank of Ethiopia has issued a new directive governing the import of goods through Franco Valuta arrangements, introducing a unified legal framework aimed at supporting trade and investment while protecting the country’s foreign exchange reserves.

Ethiopia’s effort to restructure its USD 1 billion international bond faced a new setback after bondholders rejected a revised proposal that had been adjusted to address concerns raised by official bilateral creditors.

Ethio Telecom has been listed on the Ethiopian Securities Exchange, enabling shareholders who purchased shares through the company’s 10 percent public offering to manage and trade their holdings through the capital market system.