The Development Bank of Ethiopia intends to sell the following properties that it has acquired from a defaulter pursuant to the power vested in it by proclamation

Bid Announcement

The Development Bank of Ethiopia intends to sell the following properties that it has acquired from a defaulter pursuant to the power vested in it by proclamation No. 97/98, 216/2000 and 1147/2019.

Instructions:

1. Interested bidders can obtain a complete bid document of the property, during office hours of the Bank upon payment of non-refundable fee of Birr 100.00 (Birr One Hundred) in cash, and fill out the bid document with their name, the price they are going to offer and other information as required by the format. The complete Wax-sealed bid document should be received, until June 2, 2025, 9:50AM through bid boxes placed at the Bank's Head Office, second tower, ground floor starting from the third day of publication of this bid announcement.
2. Bidders shall submit 10% (ten percent) of the floor price only in CPO as a bid security.
3. A winner shall deposit the remaining winning price within 15 (Fifteen) calendar days. Failure to deposit the amount within the specified timeframe shall be a cause for loss of a bid security and cancellation of the award (bid).
4. The bid shall take place at the Head office of the Development Bank of Ethiopia on the date and time specified in the table herein above.
5. The winner is required to pay 15% VAT (Fifteen Percent Value Added Tax),

and all other legal and administrative fees and charges in accordance with applicable laws.

6. Some components of the property have been procured under duty free privileges. Thus, the winner should either have matching custom duty exemption privilege or shall be bound to pay the outstanding duties.
7. Since the operation of the project has been continued, on top of winning price, the winner may take farm products on cash basis through negotiation based on the floor price to be determined by the bank at the time of handover of the property.
8. The bank intends to sell the property only in cash.
9. The winner is required to take over all permanent employees of the establishment along with their rights and benefits.
10. Only the bidders or their legal agencies shall be allowed to attend the bid process.
11. Interested and eligible bidders may obtain more information from the Development Bank of Ethiopia, Ongoing Concern Projects and Acquired Assets Management Directorate, 2nd Tower 3rd Floor or through telephone 011-524-53-73/011-524-42-69. The Bank can arrange a pre-scheduled visit art for interested bidders,
12. The Bank reserves the right to cancel the bid partially or fully.

Development Bank of Ethiopia