12 °c
London
Friday, June 2, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Expectations towards the Draft Ethiopian Commercial Code

Metassebia Hailu Zeleke by Metassebia Hailu Zeleke
October 15, 2020
in Africa, Economy, Ethiopia, FA, FDI, Governance
Reading Time: 2 mins read
946 71
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Ethiopia has undertaken significant economic reforms in the last few years. The country has announced its plan to reform the economy, and increase private sector participation through FDI.

On the economic sector, the country is working to partially or wholly privatize major state-owned enterprises (SOEs) that includes but not limited sectors like aviation, power, telecom, and sugar.

Furthermore, Ethiopia liberalizing the logistics sector and enacted a commandment that allows Public-Private Partnerships (PPP) to progressively open up some sectors of the economy to foreign direct investments. Ethiopia recently ratified the African Continental Free Trade Area Agreement and lessened visa requirements for African Union member states with the mission of enhancing regional trade and attracting foreign direct investment (FDI). These efforts are important to attract FDI. Further, the country also expressed its commitment to improve the ease of doing business, modernize the financial sector, and enhance macroeconomic policies.

Also read: Ethiopia suspends Ethiopian Airlines privatisation

Of course, Ethiopia’s economy is a developing one with high-level potential of booming if managed well. Ethiopia is the second most populous state in the continent following Nigeria, with having a population of over 100 million. Low-cost labor, a national airline with more high profile and world-class passenger connections will possibly have a real potential for investment attraction apart from the growing consumer markets. The largest volume of foreign direct investment (FDI) in Ethiopia comes from China, followed by Saudi Arabia and Turkey.

Here, the issue is if the country must have a well-oriented commercial law that can shoulder the investment flow that may rise. The Ethiopian Commercial Code is almost 58 years old since promulgation, therefore it needs serious revision. The revision of the law has to be ended up with devotion of enabling investments to flourish and creating wealth further to the old fashion of controlling and controlling only.

It is, therefore, expected that the revised commercial code will address the followings

  • To have a well versed provisions towards synchronizing the Ethiopian trade system;
  • To create a simple but organized procedure towards company formation, function and dissolution;
  • To put well oriented financial structure in its corporate sense;
  • To incorporate forward-looking corporate governance system;

Related

Tags: AfCFTAAfrican Continental Free Trade Area AgreementEthiopiaEthiopian Commercial CodeExpectations towards the Draft Ethiopian Commercial CodeFDIFeatureforeign direct investmentLawlegalLegislationMetassebia Hailu Zelekepublic private partnershipэфиопияأثيوبياエチオピア埃塞俄比亚
ScanSendShare407Tweet254Share71Pin92Send
Metassebia Hailu Zeleke

Metassebia Hailu Zeleke

Metassebia Hailu Zeleke is a PhD Student in African Studies specializing in Citizenship and Mobility in Africa at Addis Ababa University. He is from Law background and currently operating as Consultant & Attorney-at-Law by serving as a legal counselor to different corporate entities, foreign investors and international law firms. By now, he is Vice President of the Ethiopian Lawyers Association and also serving as Editorial Board Chairman of the peer-reviewed “Ethiopian Bar Review” Journal as well as editorial team chairman of the Ethiopian Lawyers’ voice called temuagach “ተሟጋች” newsletter. He is also serving as Management Board member in different organizations including the Ethiopian Shipping and Logistics Services Enterprise. He is also a part-time instructor at Unity University. Internationally, he is serving as a Research Fellow to the China-Africa Legal Research Center and a Consultant to the China Center for Legal Diplomacy. He has also different international recognition including appointment of “Ambassador for Peace” by the Universal Peace Federation (2011), recipient of a fellowship program at the Law School of Beijing Foreign Studies University (Beijing, 2014), recipient of the China-Africa Lawyers Exchange Program (Beijing, 2014) and recipient of the Young International Lawyers Program by International Bar Association (Tokyo, 2014). He can be reached through metassebiahz@gmail.com or +251-911-636064

Related Posts

Economy

EBC and MultiChoice to strengthen combat of piracy in Ethiopia

by FurtherAfrica
June 2, 2023
Ethiopia energy access
Energy

South Africa private companies to add 4Gw to grid by end 2024

by FurtherAfrica
June 2, 2023
Guidelines for PanAfrican payments and settlement system in Nigeria
Energy

TotalEnergies renews production license for Nigeria’s deep offshore block

by Energy Capital & Power
June 2, 2023
Venture Capital

South African digital bank Tyme raises US$77.8M

by TechGist Africa
June 2, 2023
Banking

AfDB appoints Richard Kwaku Ofori-Mante acting director of the agricultural finance and rural development dept

by Fabio Scala
June 2, 2023
Platform Africa 2023
 
Mozambique eVisa
 
MozParks
 

Translate this page

Read the Latest

Economy

EBC and MultiChoice to strengthen combat of piracy in Ethiopia

by FurtherAfrica
June 2, 2023
0

MultiChoice Africa Holdings B.V (MAH) and the Ethiopian Broadcasting Corporation (EBC) have announced today a new cooperation agreement in the...

Read more
Ethiopia energy access

South Africa private companies to add 4Gw to grid by end 2024

June 2, 2023
Guidelines for PanAfrican payments and settlement system in Nigeria

TotalEnergies renews production license for Nigeria’s deep offshore block

June 2, 2023

South African digital bank Tyme raises US$77.8M

June 2, 2023

AfDB appoints Richard Kwaku Ofori-Mante acting director of the agricultural finance and rural development dept

June 2, 2023

FurtherAfrica Partners Network

The Exchange Farmers Review Africa 360 Mozambique
TechGist Africa Energy Capital & Power Club of Mozambique
Taarifa Rwanda Web3Africa See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa  

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 107,193 other subscribers.
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?