The Development Bank of Ethiopia wishes to sell the collateral property specified in the table below for
Development Bank of Ethiopia
Development Bank of Ethiopia
Auction Announcement
The Development Bank of Ethiopia wishes to sell the collateral property specified in the table below for the loan granted to My Shoes and Leather Manufacturing PLC through a public auction pursuant to the power vested in it by Proclamations No. 97/1998 and 1147/2019.
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Name of Borrower/ Mortgagor
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Collateral Property Address
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Details of properties on auction |
Auction floor Price (in Birr) |
Level of Auction
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Auction Date
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Type of property offered for auction |
Land size
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Date
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Time
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My Shoes and Leather Manufacturing PLC
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Amhara National Regional State Debre Birhan town 09 kebele
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Shoes and Leather Manufacturing Factory (under implementation), Constructions, machineries and Electrical equipment
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6.83-hectare
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Birr 397,968,817.12 (three hundred ninety-seven million nine hundred sixty-eight thousand eight hundred seventeen birr, 12/100)
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Second
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June 30, 2025
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Morning 4:00-6:00 local Time
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Notice
- Any bidder who wishes to participate in the auction shall register in person or via its authorized representatives at the auction venue between 10:00 AM and 11:00 AM before the auction begins.
- The auction shall be held at the time and place specified herein above, in the premises of the factory, in the presence of the mortgagor or its legal representative, bidders or their authorized representatives and observers. The auction shall be conducted whether the mortgagor or its authorized representative is present or not.
- Bidders shall deposit 25 % (Twenty-Five percent) of the floor price as a bid security only by cash payment order (C.P.O) only before the day of the bid or bring it with them right before opening of the bid. CPO's of the unsuccessful bidders shall be returned immediately.
- A person who wishes to participate in the auction on behalf of a legal entity must submit the association's Memorandum of Association/Articles of Association with amendments (if any), business registration, business license, other necessary documents, and certified power of attorney documents.
- The highest bidder shall pay the winning price to the bank within 15 consecutive days from the date of the auction. The winner shall pay the winning price to the bank in cash only.
- Where the winning bidder fails to make payment within the specified period under 5, the bid shall be cancelled, and the deposit shall be confiscated.
- The winner shall produce a document proving its/his/her eligibility for a tax exemption in the sector or be obliged by law to pay the tax that the government levies on machineries/capital goods for which customs duties and taxes have not been paid.
- The winner shall pay 15% Value-Added Tax and all other legal and administrative fees and charges that are associated with the sale of the property and ownership title transfer.
- The bank will write a letter to the concerned government body to facilitate transfer of title of the property to the buyer. It shall be the buyer's responsibility to follow-through the process and get it executed.
- Bidders who wish to visit the property before the auction date can do so by arranging an appointment with the bank.
- Before or after the auction, the bank reserves the right to cancel the auction if a better alternative is found or the loan is settled.
- For more information, visit the Ongoing Concern Projects and Acquired Asset Management Directorate of the bank in person or call +251 11-524-5373 (Extension 351) or visit the bank's website www.dbe.com.et
Development Bank of Ethiopia
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