Tadesse Lencho (PhD)May 15, 202162

After so many years of trials and setbacks during revisions, the Commercial Code has finally crossed the last legislative milestone, an approval by the Parliament on March 25, 2021, repealing the old Commercial Code of Ethiopia, which was in service for the last six decades. The revision started three decades ago, but partly because of the lack of institutional will and political instability, it has taken decades to get past the Parliament. The last two years of Ethiopia’s political transition have seen a flurry of major legislative reforms, and it is perhaps no coincidence that the revision of the Commercial Code has been successful during this period. Now, Ethiopia has a new insolvency law.

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