Business Mortgage Proclamation (No. 98/1998). | Land Portal

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LEX-FAOC095732
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This Proclamation provides for the registration of mortgages established on businesses and the sale of a business mortgage by auction. Each Region or City shall keep a register of business mortgages. Only businesses that have been registered and given business license by the appropriate Federal or Regional authority may be mortgaged.

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Ethiopia

Unique among African countries, the ancient Ethiopian monarchy maintained its freedom from colonial rule with the exception of a short-lived Italian occupation from 1936-41. In 1974, a military junta, the Derg, deposed Emperor Haile SELASSIE (who had ruled since 1930) and established a socialist state. Torn by bloody coups, uprisings, wide-scale drought, and massive refugee problems, the regime was finally toppled in 1991 by a coalition of rebel forces, the Ethiopian People's Revolutionary Democratic Front.

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