The city government says it will hand over more than 63,000 condominiums next month!
Addis Ababa Housing Development Corporation said it is working to fully hand over the houses of condominiums that were drawn three years ago.
More than 63,000 homeowners are expected to move into their homes next month, and the condominiums are located on 16 sites.
Speaking to The Reporter, the corporation’s Deputy Director General, Awraris Kebede, said that despite the pre-handing over of the condominiums, the owners of the condominiums have not been able to receive them.
These are homeowners in the 13th round of 20/80 lots, 40/80 rounds in the second round, and for various reasons such as development initiatives. 2011 According to the lottery, 52,000 houses have been handed over to the lucky ones, of which 47,000 are homeowners.
He said some homeowners were cleaning and relocating, but many did not take over their homes.
It is said that the reason why the residents did not take over the houses is not only because the houses were not completely built but also because of the lack of infrastructure such as water, electricity and roads.
He said the corporation has a 100-day plan to complete the remaining works and relocate residents to their homes. You stated that.
The reasons for the residents’ procrastination are said to be long overdue, such as poor project performance, lack of funding and lack of coordination with infrastructure providers.
The new foreign exchange usage policy and restrictions
Banks have begun implementing a new directive issued by the National Bank of Ethiopia on the use and management of foreign exchange. This policy also contains new procedures, especially with regard to foreign exchange authorization. It also implies that banks will not be able to comply with some of the practices that they used to have when opening Elsie to their customers and that non-compliance will be penalized.
According to the directive, the provision of the “Restriction” clause, which is related to the licensing and administration of Elsie, indicates that some of the previous procedures will not apply. Accordingly, one of the main prohibitions in this Directive is that any bank may not use foreign exchange earnings for export purposes except for special circumstances. What is prohibited by this directive is that the customer submits the required amount of money to authorize the purchase order. “Unless it is used in the manufacturing sector, no bank can authorize CAD Agent Documents without depositing the full amount,” he said.
In addition to these two restrictions, the directive states that any bank cannot accept Letters of Credit (LC) applications without having to pay at least 30% of the amount of LLC in advance. However, he pointed out that the manufacturing sector could be exempt from this export trade.