Breaking News‼️🇪🇷🇪🇷🇪🇷
Eritrean government issued a new
financial/banking law that sets strict limits on how much paper cash individuals and businesses are allowed to keep in their hands. This strict law is the first banking law in the world. It added additional hurdles on the existing banking regulation for over decades. As you know in Eritrea the maximum amount you can withdraw a month is 5,000 Nakfa ($333).
Let me put it in perspective. To buy an oxen/bull, it will cost of 10,000 Nakfa ($650). 100 kg Teff cost of 15,000 Nakfa.
Imagine how long will to save enough money for a weeding party. Just to buy a bull and 100 kg Teff, it will take you 5 months to withdraw from the bank.
⚠️ The New Cash Holding Limits:
The law categorizes people and businesses into four tiers. You are legally forbidden from holding more than these amounts in cash for longer than 15 days:
1. Individuals: Maximum 25,000 Nakfa.
2. Level 'C' Businesses: Maximum 50,000 Nakfa
3. Level 'B' Businesses: Maximum 100,000 Nakfa
4. Level 'A' Businesses: Maximum 150,000 Nakfa
How can a government force you to not keep your own cash on your hand?
“What government?” is the answer.
@SecRubio@zerubbabel_G@GHessebon Ethiopia will take back its historical Asab port that the TPLF wrongly handed over to Eritrea.
Ethiopia is the only country that can secure the Red Sea and the HoA in general. Strengthening r/ship is important for both 🇺🇸🇪🇹,and the region stability.
We inaugurated the Addis Sports Park, a 5.7-hectare project that stands as a testament to our promise of urban renewal and the restoration of our citizens' dignity. By honouring 15 of our Olympic gold medallists with dedicated statues at the heart of this facility, we ensure their legacy inspires the next generation of Ethiopian champions. Whether it is the Olympic-standard swimming pool, the professional football, basketball, and tennis courts, or the 800-meter running track, every part of this world-class hub is built to meet international standards.
True development must be centred on the community. This project is about more than elite sports, it provides 105 new commercial shops to empower community members relocated during the development process with a grand plaza for 3,000 people to gather and connect. With two levels of basement parking for 300 vehicles and a seamless connection to our riverside green projects, we are proving that a clean, modern Ethiopia is happening right now. We don’t just envision a better future, we build it!
#EthiopiaDelivers
#VisitEthiopia
Ethiopia has signed $13.1 billion of investment deals spanning renewable energy, manufacturing, real estate, mining and green ammonia, according to the government https://t.co/WAIzELuPXv
@EritreanPress Do you think that, ths mesage comes only from PM. Whether U beleive or not, Our PM Dr.Abiy is reflecting the voice of all Ethiopians from all corners of the country.
“Whether you like it or hate it, we will not live landlocked.”
This is the real sound from all Ethiopians.
@isaias_afwerki what about ur sponsor Egyptian government ? say something about that. No body come to visit ur country, b/c u have nothing to show the world.
@Erispay As u know that, Abiy is a man who walk his talk. Why you try to fool ur self by making noises day and night. አይ ሻቢያ በቃ ሁል ነገሯ አረጀና እንዳረጀ ውሻ ቆሞ መጮህ ብቻ ሆነ ስራዋ ; ለነገሩ የጩሀቱን ባትሪ በየጊዜው የሚቸርጀው ጠላታችን ግብፅ መሆኑ.....
@BashirHashiysf "The world admires the #Eritrea-n president Asayas Afewerki for his patience"..??? Oo my goodness are mad ?. Why u want to write the opposite?
@TravelToEritrea we don't care about ur ሚሊሻ!! we are asking u bring back our port. Unless and otherwise the generation is ready to fight u in all way u want. The Egyptian backing shabia is doing day and night to destabilize Our nation. But it is a matter of time u will pay the consequence.