2merkato

The Ethiopian Capital Market Authority has made an announcement regarding the initiation of licensing procedures, starting from Monday, February 12, 2024.

The Ethiopia Capital Market Authority (ECMA) which was established in June 2022 is working to launch the Ethiopian Capital Market in two years. The regulatory framework for the capital market came into picture in 2021 when the National Bank of Ethiopia (NBE) issued the Capital Markets Proclamation No. 1248/2021.

The city administration of Addis Ababa, Ethiopia proposed a 16 billion birr preliminary budget for the next financial year. The budget gives priority to water and sewerage services which make up 13% of the financial plan.

The preliminary budget prepared by the Finance and Economic Development Bureau of the city will be tabled before the Addis Ababa cabinet which is chaired by Kuma Demkssa Mayor of the city.

The proposed budget is 4.2 billion birr more than that for the current fiscal year.

The city administration of Addis Ababa, Ethiopia announced plans to build 90,000 condominium houses over the next three years as part of its plans for development.

The project is expected to benefit an estimated 450,000 residents of Addis Ababa according to Kassa Wolde-Senbet, Head of the Communication Affairs Office with the City administration.

The housing development project has been able to build more than 97,000 condominium houses at more than 100 locations with 71,000 condos transferred to homeowners  up to last Ethiopian year noted Kassa.

Kuma Demkesa, Mayor of Ethiopia’s capital city Addis Ababa, laid the foundation stone for the construction of 42,000 new condominium housing. The city administration plans to construct condominium house at 16 sites around the capital.

The successful construction of new condominium housing is a priority for the city administration said Kuma.