Ethiopia's Ministry of Finance announced that it has decided to allow the import of basic food items on a Franco Valuta basis, without requiring any foreign exchange permits. The items include cooking oil, wheat, sugar, milk, and rice.
Ethiopian Ministry of Finance has announced that, due to inflation caused by the imbalance between demand and supply of food items, it now lets such items be imported on the basis of Franco-Valuta for six months. The items allowed to imported on Franco-Valuta basis (without being required to have forex payable) are cooking oil, wheat, sugar, milk, and rice.
Draft law which aims at allowing private investors to engage in railway transportation service has been prepared. If passed by the law maker, the draft bill, dubbed Railway Transportation Administration, allows investors to use the national railway infrastructure. In other words, private companies are now allowed to give services on the already built railway infrastructures. This is in the midst of Ethiopia Railway Corporation’s (ERC) debt mounting at a staggering level, which reached 120 billion Birr.
Ethiopia is going to amend the legal regime its existing urban land law which came into effect back in 2011.
