New Commercial Law of Ethiopia

In recent periods, the commercial sector of Ethiopia is growing and developing. This is partly attributed to the strategic Policy of Ethiopia, which encourages its development. However, business owners come across hindrances in navigating the business environment. To alleviate this issue, one of the strategic moves was to replace the obsolete commercial code of Ethiopia after sixty years with a new Commercial Code of Ethiopia, Proclamation No. 1243/2020. This code is updated to fit the current need of the business sector, simplify the way businesses establish, and regulate various business areas that were never been given any attention.