A new proclamation that partially liberalize Ethiopia's media industry comes into force just after being published on Negarit Gazette. It was approved by the Parliament on February 2, 2021.
The proclamation allow foreigners own 25 percent stake at any media establishment. The media industry has been closed to foreign competition for over half a century.
The new law also enable digital media outlets and wire services content producers get a license.
The proclamation also introduced major changes in relation to the independence of the media regulatory body; the media self-regulatory mechanism; media ownership rules, registration and licensing requirements and procedures.
It also clearly outlined the rights and obligations of the media; and administrative and legal measures for violations of the law and content standards.
After the law came into effect, the Ethiopian Broadcasting Authority announced its has branded itself to Ethiopian Media Authority based on what is stated on the law.