Features of the Bond
• Bond type : Corporate Bond
• Issuer of the bond : Ethiopian Electric Power Corporation( EEPCO)
• Agent: Commercial Bank of Ethiopia (CBE)
• Name of the bond: EEPCO Millennium Bond
• Currency : USD, Pound Sterling, Euro and other convertible currencies
• Eligibility : Non-resident Ethiopians and Foreign Nationals of Ethiopian origin only
• Minimum bond issued: USD 500
• Maturity: 5, 7 and 10 years
• Payment of bond: At maturity
• Payment of interest: Annually
• Guarantor: Government guaranteed bond
• Additional Benefit: The bond can be used as a collateral for loans in local currency.
• Income Tax: Interest income earned from the bond is free from any income tax.
Means of Purchase: The buyer can effect payment via
1. SWIFT transfer
Up on payment via SWIFT transfer, the Bank will send the bond certificate to the buyer or keep the certificate under the Bank’s custody upon consent of the buyer.
2. Diaspora Foreign Currency Account
A prospective bond buyer can instruct CBE or other domestic banks to debit his/her Diaspora Foreign Currency account to purchase the bond. The account holder can also purchase the bond through power of attorney holders.
3. Cash
Ethiopian Diaspora can purchase the bond from CBE in foreign currency. In this case, it is mandatory for the buyer to present a foreign currency declaration form.
Interest Rates and Payments
The interest rates are 4%, 4.5 % and 5% for 5, 7 and 10 years maturity periods respectively.
Interest on the bonds will be paid annually and the bond holder can either receive interest payments in foreign currency or in Birr at the prevailing exchange rate.
The interest earned can be:
• collected in Birr in person or through power of attorney holders,
• deposited in foreign currency or birr account,
• transferred abroad,
• used to repurchase additional bonds, or
• used as payment for import commitments
Transferability:
The Bond can be transferred to a second party upon the consent of the bond holder and fulfillment of the required documents.
Upon maturity, the bond holder can:
• receive the face value of the bond in foreign currency,
• purchase another bond with the same face value,
effect local payments,
• deposit in foreign currency or birr account, or
• pay for import commitments.
SWIFT Addresses:
• Arada Ghiorgis Branch……………………………………………………..CBETETAAARA
• Finfine Branch……………………….……………………………………..CBETETAAFIN
• Temnja Yaj Branch…….……………………………………………….…CBETETAATEM
• Diredawa Branch…………………………………………………………..CBETETAADIR
• Other Branches and International Banking Department………………………….CBETETAA
Click here to download the application form for purchase of EEPCO MILLINIUM BND in pdf format.
I will give my blood for the construction of the dam !! Weregnochina hodamoch ende ato Girma kefo ras tekawamiwoch tesfa kuretu !?
I will give my blood!!!
We ethiopians will give everything we have for the project, it doesnt matter wether we have democracy or not, it doesnt matter wether we had free and fair election. This is not time to find an excuse not to play part in this historic project. I urge all ethiopians to rally behind our government and build the dam. There are certain issues of national singnificance like this project which we all need to support. The dam will be used for generations, governments come and go, but development and energy self-sufficiency stays. Lets build our dam, export electricity, build more universities, clinics, roads, rail network etc
WE may have differing political views but when it comes to development and fighting poverty we all neeed to join hands.
Our grandparents have given their dear lives, they were martyred to ensure we live in independence and freedom. We are not asked to give our lives now, we are asked to buy bonds, and contribute for the dam. I personall am willing to give everything for the project including blood, sweat, money etc…I am a supporter of the dam
Yes for the dam, all ethiopians who wish to see a developed ethiopia need to come together and support the project. We all need to keep our distance from the toxic diaspora who are trying to play a distructive role. Those who talk of doom and gloom shouldnt discourage us from supporting the project.
Those forces of darkness want us to stay in the dark untill we organise a ” free and fair” election that would enable them to seat at the helm of political power in Ethiopia. These toxic diasporas are telling us to abandon the project untill there is full fledged “democracy” in the country.
How can one with a rational mind come up with such silly ideas, democracy is a graduall process it evolves in time. One cant build democratic culture and value in 5 or ten years. In ethiopia there are good signs of improvements when it comes to the democratisation process.I believe the country is on the right path of democratisation. However, we shouldnt stay in the dark till we have a full fledged democracy in the country.
We can all join hands and work on both projects. All ethiopians would like to see a democratic and developed Ethiopia. We shouldnt put precondition for development, no ifs no buts we all need to play our part for the sucess of the dam project. The project will help all the people irrespective of ones political agenda. Those who support the government as well as those who oppose the government need to show support for the millenium dam project. The EPRDF is not selling bonds to build headquarter. There is time and place for every thing, politics shouldnt blind us from participating in development and fighting poverty in one voice.PLease lets all wake up and see the bigger picture, an electrified Ethiopia.
There is no doubt in my mind, I will support with everything I have. I am not a politician I care more for economic. This is a dream come true for Ethiopians to be able use our water. I am greatful who ever came up with this project.
we will realize our dream with out any thing .unity is strength so now all Ethiopians become UNDER one umbrella and we can do it.
What a brilliant idea! This is a real opportunity for those who love their country and a test if we really care for Ethiopia and its nation’s future.
Long live enat hager!
Ditto my fellow Ethiopians! I am all for it, and God bless the spirit!!
This is amazing i will do anything in my power to help bulid the dom. from donating money to tell people around me god bless Ethiopian and its people thank you to our greate leders such as meles zenawi
Electricity is not a luxury for us. It is a necessity without which all other developmental activities such as roads,railways,manufacturing sector,agriculture, you name it ..are impossible. This dam is not going to be a property of EPRDF but is of all Ethiopians and generations to come. As for me, I swear, I am ready to give my blood let alone money. It is high time than ever all children of Ethiopia inside and outside Ethiopia regardless of our ethnicity,religion,political views should stand together for this Hiddase Dam to come true.I am optimistic about Beautiful Ethiopia than ever. Go Ethiopia Go!!! God (Allah) Bless Ethiopia!!!