The FDRE House of People’s Representative’s session on March 25th, 2021 has approved a draft bill to amend the 1960 Commercial Code.
The new Code, which replaces the old Commercial Code in force for over 62 years, has been anticipated by practitioners and the business community for a very long time. The anticipation was heightened by official drafts circulated prior to the enactment of the new code.
Notwithstanding detailed changes which will be apparent upon the publication of the new Commercial Code, salient departures have been introduced by the latest draft of December 2020.
Our Ethiopia Team analyzed the major changes in the newsletter available here.