The Ethiopian Capital Market Authority reiterated that it would start issuing licenses to capital market service providers after three months. It is to be recalled that the Authority announced in February this year that it was working to license capital market service providers within six months.
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.
