The Development Bank of Ethiopia is selling two properties acquired from defaulters.

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. Bidders can purchase the prepared tender document by paying a non- refundable fee of 100 ETB (One Hundred Birr), specify the price they are willing to pay for the properties along with their name and address on the format. and drop it in the designated box for this tender at the Bank's Head Office. 2nd Tower, Ground Floor. Submissions can be made starting from the third day of this announcement's publication: For purchasing properties acquired from Majang Agro Industry P.L.C., up to October 27, 2026 (at 9:50 AM / morning). For purchasing properties acquired from M.Y. Shoes and Leather Manufacturing P.L.C., up to October 26, 2026 (at 9:50 AM / morning.

2- Bidders can participate by depositing 10% of the starting bid price exclusively in a Bank Payment Order (C.P.O.).

3. The winning bidder must pay the remaining balance of the winning price in full within 15 (fifteen) consecutive days; otherwise, the deposited money will be forfeited to the bank's revenue and the tender will be canceled.

4. The tender will be conducted in the presence of bidders or their legal representatives at the date and time specified in the table at the Bank's Head Office. A representative of a body with legal personality participating in the tender must present the association's memorandum/articles of association (along with amendments, if any), commercial registration, trade license, other necessary evidence, and verified documents of delegated authority.

5. The buyer shall pay 15% Value Added Tax (VAT), other legally mandated payments for the buyer, and transfer of ownership fees.

6. Since some of the company's assets do not have customs duty and tax paid. the buyer will either be required to have a duty-free privilege or pay the required duty to the government.

7. Since the business operation of Majang Agro Industry P.LC is ongoing in addition to the purchase price, the winner can purchase the uncollected or inventoried banana produce in cash based on the valuation price determined at the time of handover.

8. The bank will write a letter to the relevant government body for the transfer of ownership of the property to the buyer. The buyer shall follow up and execute the matter,

9. The bank prefers to sell the properties offered for sale fully in cash. However, if the winner fulfills the necessary loan requirements according to the bank's credit policy and operating system, and continues the project, they may request to purchase the property with a partial loan.

10. The tender winner is required to take over all permanent employees of the company Majang Agro Industry PLC along with their rights and benefits.

11. Only bidders or their legal representatives are allowed to be present at the tender.

12. To obtain details and additional information regarding the tender, you can visit the Ongoing Concern Projects and Acquired Assets Management Directorate located on the 3rd floor of Tower Two at the Development Bank of Ethiopia's Head Office in person, or call phone numbers 011-524-5373 / 011-524-4269. Those who wish to visit the collateral properties can do so by making an appointment in advance with the Directorate.

13. The bank reserves the right to cancel the tender in whole or in part if a better alternative is found.

THE DEVELOPMENT BANK OF ETHIOPIA

Tender details

• Deadline: 2026-10-27
• Bid closing time: 12:00
• Bid closing (note): Different for the various lots
• Bid opening: 2026-10-27 12:00
• Bid opening (note): Different for the various lots
• Region: Addis Ababa
• Publishing entity: Development Bank of Ethiopia
• Buyer address: DBE Head Office, Property and Facility Management Directorate Procurement Team, Tower II,5th floor,
• Bid bond: 10%
• Bid document price: 100.00 Birr
• Published on: The Reporter (Sep 19, 2026)
• Posted at: 2026-09-19T07:47:27.000Z
• Source: 2merkato