eTech is a for-profit public share company operating in the global information technology sector and is owned by Ethiopians and people of Ethiopian descent.
Who are the founders of eTech ?
The eTech founders are highly qualified professionals in the field of information technology, who established and led various governmental and non-governmental organizations in the sector in Ethiopia, the United States, and Europe. The founders established eTech to advance the sector in Ethiopia by investing their wealth of work experience, and knowledge.
What are the criteria/requirements to buy eTech shares ?
Anyone who is an Ethiopian and of Ethiopian descents and above the age of 18 can buy shares by presenting identity cards (including passport, driver’s license, yellow card, etc.)
If you are buying the shares for underage children, attach the child’s birth certificate, fill the forms for the child, indicating the names of legal guardians next to the child’s name
Foreign nationals who are Ethiopians by birth can buy the shares by using SWFIT or paying in with a foreign currency account and filling out a share purchase form.
Businesses and legally registered organizations in Ethiopia can submit:
foundations, and subscriptions to buy shares
How much is the service payment ?
The service payment is 5% of the shares you buy. When the share is purchased with foreign currency the service payment is 1%.
Is it possible to buy shares for couples, Family, Friends, partners ?
Couples or spouses can purchase shares by presenting a marriage certificate and renewed IDs or driver’s licenses or passports copies of both parties.
Two or more relatives, friends, and partners can buy shares attaching a copy of their renewed ID, driver’s license, or passport of all parties
Where is eTech share sold ?
Anyone can also buy shares in eTech office at Bole Dabi building, Addis Ababa.
People who live abroad, can buy shares on-line by filling the on-line forms, upload payment receipt and other required documents as mentioned on : https://etechsc.com/e/shares
What shall I do after I deposit the share amounts to the Bank ?
Once you purchase shares, visit eTech office to collect the receipt by bringing your ID with deposit slip of the bank. Agents/legal representatives can also collect the receipt of eTech. You can also request the receipt to be sent to you directly through our email email@example.com .
Where is the address of eTech ?
Address:- Main office A.A Bole sub-city Area 03 House No. 06/06
The exchange rate from birr to foreign currencies is equivalent to the prevailing date. The amount of less than one share value that is 100 birrs is considered to be other income for the company.
Can I buy shares online ?
Yes, you can go to eTech website: www.etechsc.com, share section. Fill the online form, upload copies of required documents like: ID/Passport or yellow card copy and bank transfer slip. Within 24 hours you will receive eTech formal confirmation e-mail from firstname.lastname@example.org .
Why is eTech floating shares after formation (why not before) ?
The reasons why eTech float share after formation are:
To avoid pending from establishment by COVID-19 and the state of emergency which limited meetings and face to face communications
To get the first comers advantage in the new government technology initiatives.
To utilize resources from Ethiopian citizen and/or origin and encourage them to invest in a home grown company
When will eTech launch ?
eTech has already started providing services in five selected ICT sectors (telecom, infrastructure, software development, import, consulting and cybersecurity) and will continue to provide additional products and services.
Is investing in eTech profitable ?
Based on the eTech’s financial feasibility and three years’ implementation plan study, eTech will be a profitable company compared to other industries in Ethiopia with the range of profitability 30%-50%.
What are eTech’s founders benefit? is the benefit closed ?
eTech founders will receive a 4% benefit from net profit before dividend for consecutive three years, after the first-year profit report. The benefit is extended to the former 24 founders and new founders equally based on paid-up capital. However, to encourage a swift decision of shareholders, new founders benefit will stay open for the first one month, after the first share floating.