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.
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.
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S.N
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Borrower's/ Guarantor's Name
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Property/Project Location
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Type of Property/Project
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Plot size (IN ha or m²)
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Level of Bid
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Bid Type
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Bid Floor Price (Birr)
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Date and Time of Bid
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1
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Majang Agro- Industry PLC
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Gambella Regional State, Magang Zone, Mengesh Woreda, Ashene & Baya Kebele
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Irrigation farm consisting of Buildings, Farm Machineries & Equipment's, Vehicles, and 145 hectares of Banana plantation
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1,000 hectare of leasehold land
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Second
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Closed
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375,513,976.00
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July 31, 2025 From 10:00-12:00 AM
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2
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Ato Girma Afework Medimim
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Addis Ababa city, Nifas silk lafto sub city Woreda 08 Kebele 11
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Gatepro corrugated iron sheet factory: Building construction, Electrical works, Machinery, materials, Office furniture and equipment, Raw materials and product inventory
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1,678 square meter plot of land
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First
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Closed
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122,600,997.28
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July 31, 2025 From 2:00-4:00 PM
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Instructions:
- 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 for Item # 1 until July 31, 2025, 9:50 A.M & for item # 2 until July 31, 2025, 1:50 PM 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.
- Bidders shall submit 10% (Ten percent) of the floor price only in CPO as a bid security.
- A winner shall deposit the remaining winning price within 15 (Fifteen) calendar days. Failure to deposit the amount within the specified timeframe shall be cause for loss of a bid security and cancellation of the award (bid).
- 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.
- 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.
- Some components of the properties have been procured under duty free scheme. Thus, the winner should either have matching custom duty exemption privilege or shall be bound to pay the outstanding duties & taxes.
- Since the operation of Majang Agro-Industry 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.
- The bank intends to sell the properties only in cash.
- The bank will write a letter to the concerned government body to facilitate transfer of the title of the properties to the buyer. It shall be the buyer's responsibility to follow-through the process and get it finalized.
- The winner is required to take over all permanent employees of Majang Agro-Industry along with their rights and benefits.
- Only the bidders or their legal agencies shall be allowed to attend the bid process.
- 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 011-5-24-53-73/ 011-5-24-42-69. The Bank can arrange a pre-scheduled visit for interested bidders.
- The Bank reserves the right to cancel the bid partially or fully.
Development Bank of Ethiopia
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