Federal Parliament Approves Foreign Ownership of Residential Houses
Mortar Attack in Amhara Region During Pro-Peace Rally
Ethiopia's Minister of Finance Stresses Importance of Revenue Generation
Ethiopian Minister of Finance, Ahmed Shide, emphasized to the Federal Parliament on July 1 that increasing the government’s revenue is crucial, describing it as "a matter of life and death." He pointed out that the government can no longer rely on borrowing from the central bank, and therefore must fund federal expenditures through domestic revenue. Additionally, Shide revealed that negotiations for restructuring Ethiopia’s $3.5 billion debt are nearing completion, with a deal expected to be signed soon.
Federal Parliament Approves Foreign Ownership of Residential Houses
Ethiopia's Federal Parliament has approved a landmark bill that allows foreign nationals to purchase residential properties in the country. The minimum required capital for a foreigner to buy a house is set at $150,000. Concerns from some MPs led to a revision of the bill, restricting foreign ownership solely to residential properties, with a cap of one house per foreigner. The bill also mandates that land be accessed through a lease system, with foreigners prohibited from selling land, which remains government-owned. Additionally, foreigners are barred from renting their property for commercial purposes.
Mortar Attack in Amhara Region During Pro-Peace Rally
Four people, including two minors, were killed and seven others injured in mortar attacks during a region-wide pro-peace rally on June 23 in Muja town, Gidan district, in North Wollo zone, Amhara region. District officials have blamed the Fano militia for the attack, alleging the aim was to disrupt the rally. A similar attack occurred in Lasta district on the same day, though no casualties were reported.
Safaricom Ethiopia Hits 10 Million Active Users
Safaricom Ethiopia PLC has reached a major milestone, with 10 million active users, adding an average of 31,000 new customers daily. The company, which launched in 2021, has invested $2.27 billion in infrastructure and digital financial services, creating direct jobs for 900 people and indirect jobs for more than 20,000. About 7.1 million of its users are regular mobile data consumers. The company plans to reach its break-even point within 6 to 12 months, and it has indicated the need to revise its current mobile data pricing, which is three times cheaper than the African average.
ONLF Faction Denounces “Illegitimate” General Assembly in Jigjiga
The faction of the Ogaden National Liberation Front (ONLF) led by Abdirahman Mahadi has condemned the recent General Assembly held in Jigjiga, alleging it was orchestrated by the ruling Prosperity Party, the Somali regional administration, and the National Election Board. The faction accused the assembly of attempting to dismantle the ONLF, expropriate the region’s natural gas resources, and undermine the Somali people’s right to self-rule. Meanwhile, the rival faction's General Assembly sacked Mahadi from his leadership position and elected a new chairman over the weekend.
wazemaradio@gmail.com