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.

S.N	Borrower’s/ Guarantor’s Name	Property Location	Type of Property	Plot size (In ha or m²)	Bid Floor Price (Birr)	Bid Type	Level of Bid	Date and Time of Bid
1	Ato Girma Afework Medimim	Addis Abeba City, Nifas Silk lafto sub city Woreda 08	Gatepro corrugated iron sheet Factory: Building construction, Electrical works, Machinery, materials, Office furniture and equipment, Raw materials and product inventory	1,678 square meter	122,600,997.28(One Hundred Twenty Two Million Six Hundred Thousand Nine Hundred Ninety Seven Birr and Twenty Eight Cents)	Special Negociation	1st	July 06, 2026 From 10:00-12:00 A.M

Instructions:

1.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, until July 06, 2026, 9:50A.M 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. The bid shall open at 10:00 A.M and close at 12:00 A.M.

2. Bidders shall submit 10% (ten percent) of the floor price only in CPO as a bid security.

3. A winner shall deposit the remaining winning price within 15 (Fifteen) calendar days. Failure to deposit the amount within the specified timeframe shall be a cause for loss of a bid security and cancellation of the award (bid).

4. The bid shall take place at the Head office of the Development Bank of Ethiopia Tower Two ,5th floor on the date and time specified in the table herein above.

5. 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.

6. Some components of the property have been procured under duty free privileges. Thus, the winner should either have matching custom duty exemption privilege or shall be bound to pay the outstanding duties.

7. Interested bidders might make a prior appointment with the Bank to visit the properties before the bid date.

8. The bank intends to sell the properties only in cash.

9. 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.

10. Only the bidders or their legal agencies shall be allowed to attend the bid process.

11. Interested and eligible bidders may obtain more information from the Development Bank of Ethiopia, Ongoing Concern Projects and Management Directorate, 2nd Tower Floor or through telephone 011-524-53-73/011-524-42-69. The Bank can arrange a pre-scheduled visit for interested bidders.

12. The Bank reserves the right to cancel the bid partially or fully.

Development Bank of Ethiopia