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Legal Update
Across Africa, young innovators are wielding tech like a wand, tackling problems from finance to healthcare with fresh, digital solutions. Fintech platforms are streamlining online transactions, delivery services are zipping goods around cities, and digital marketplaces are connecting buyers and sellers like never before. This entrepreneurial surge is fueled by rising internet penetration, a tech-savvy...
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The National Bank of Ethiopia (NBE) issued a circular letter asserting that any interest-bearing loan agreement between individuals or companies other than financial institutions is illegal. It addressed the October 9 letter to the Federal Documents Authentication and Registration Services (DARS) not to authenticate or register interest-bearing loan agreements. However, there are strong arguments to...
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Who does the Directive apply to?The Directive applies to traders engaged in trading graded and value-added export coffee domestically in foreign currency. What is value-added coffee?Value-added coffee is a raw coffee that has been roasted, roasted, and grind or converted into a different type of coffee product according to approved technical procedures. Where can graded...
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The National Bank of Ethiopia (NBE) has issued a directive to attract foreign direct investment by allowing eligible projects to open offshore accounts and guaranteeing currency convertibility. The eligible projects to open an offshore account are: Public-private partnership (PPP) projects in the power generation and infrastructure sectors with large capital investment needs. Large mining projects...
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Influential shareholders in the Ethiopian banking sector are individuals, companies, or institutions that hold directly or indirectly two percent or more of the total subscribed capital of a bank. They play a key role in the growth and development of the banking sector by providing capital, expertise, and strategic guidance. The National Bank of Ethiopia (NBE) regulates...
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Capital gains refer to the profits earned from the sale of business assets such as stocks, bonds, or immovable properties. Capital gains taxation is the process of taxing these gains at different rates depending on the type of asset. “Business asset” is defined to mean any asset held or used in the conduct of a...
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A security right in a movable property is established through a security agreement. The security agreement must be in writing and signed by the grantor and the secured creditor. The security agreement must also identify the secured obligation and provide a reasonable description of the collateral. There are three ways for a security right in...
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Understanding the Legal Requirements for Electronic Signatures in Ethiopia PDF Version Available Here In December 2018, Ethiopia adopted the Electronic Signature Proclamation No.1072/2018 in order to create a conducive legal framework to promote electronic commerce and electronic government service. The Proclamation provides legal recognition to electronic signatures to promote trust in electronic communication and to...
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Legal Update on the Revised Property Tax Levied by the Addis Ababa City Administration PDF Version Available Here The land tax, sometimes referred to as the property tax, is regarded by the government as one of the most significant sources of revenue for the government and is used to meet the increasing demand for services...
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The Distinction between a Commercial Agent and a Commission Agent in Ethiopia Both commercial and commission agents are traders that need commercial registration and licensing to operate in Ethiopia according to the Commercial Code, the Commercial Registration and Business Licensing Proclamation No. 980/2016, and the Directive to Provide for Commercial Registration, Licensing, and Post-licensing Inspection,...
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