We provide a comprehensive advisory and representation services to multinational as well as local business. We also advise several local as well as international non profit organizations and embassies based in Addis Ababa.
External link for Legacy Law Firm LLP
Africa Avenue, Kirkos Sub city, Mega Building 1st Floor Addis Ababa
Addis Ababa, 0000, ET
Legacy Law Firm LLP will be represented by its Co-founder and Partner, Hirko Alemu at upcoming East Africa International Arbitration Conference.
Looking forward to insights and networking at upcoming East Africa International Arbitration Conference to be held at Sheraton Addis Hotel on September 19, and 20, 2024. Join me by registering at https://lnkd.in/dgr9y4vz
Happy to have participated in the official launch of Regulatory Sandbox by Ethiopian Capital Market Authority(ECMA) today at Sheraton Addis Hotel. The Sandbox is a great initiative designed to create a conducive environment for firms(companies) to test their products, services and innovations under the support and facilitation of the regulator. The ECMA's Regulatory Sandbox is live from today, August 29, 2024, and hence is ready to accept applications. If you have a capital market product, service, or innovation, you may check here the details and apply. https://lnkd.in/ejfvhW7P
Significant policy shift introduced by the Investment Board of Ethiopia to open some sectors for foreign investors.
Ethiopian Investment Commission (EIC) introduced changes to some of the investment areas initially reserved for domestic investors. Article 4(7) of the Investment Regulation No. 474/2020, among other things, reserved export trade of raw coffee, Khat, Oilseeds, Pulses, hides and Skins, and forest products for domestic investors only. However, the current Directive issued by the Investment Board provides that any foreign investor can engage in export trade investment of raw coffee, khat, oilseeds, pulses, hides and skins, forest products, poultry and livestock bought on the market. This is a significant policy shift for foreign investors interested to engage in those investment areas. It has to be noted that the Investment Proclamation No. 1180/2020 Article 6(4) empowers the Investment Board (which is Chaired by the Prime Minister) to be able to open to foreign investors the investment sectors that are reserved for domestic investors by the Proclamation and the Regulation.
Legacy Law Firm LLP reposted this
The Ethiopian Parliament approved the Personal Data Protection Proclamation, Proclamation no. 1321/2024, which has only been a Draft for several years. This is a significant legal development if seriously enforced. The Proclamation is adopted at a time when the State Bank (Commercial Bank of Ethiopia) has been disseminating the names and photographs of its customers on different medias at its reach, that it claimed to have participated in the illegal transfers and withdrawals following the Bank's system glitch (as claimed by the Bank itself). It begs a question whether this action of the Bank would have amounted to a violation of this Proclamation if it was enacted just few weeks ago.
Congratulations to our Managing Partner, Temesgen G/selassie for being selected as Executive President Indo Africa PR and Legal Council of Ethiopian Chapter by BRIDGE EXIM ETHIOPIA