Ethiopian Investment Holdings (EIH), Ethiopian Agricultural Business Corporation (EABC), and Asset Green have signed a Shareholders Agreement (SHA) to launch an Integrated Dairy and Commercial Farming Project. The partnership aims to modernize Ethiopia’s agricultural sector through large-scale investment and advanced technology. The SHA was signed by Dr. Brook Taye, CEO of EIH; Ato Kifle W/Mariam,
Dangote Group, Africa’s leading industrial conglomerate, has announced a major expansion in Ethiopia, reinforcing the country’s status as a prime investment destination. The move follows Chairman and CEO Aliko Dangote’s recent discussions with Prime Minister Abiy Ahmed, which he described as “inspiring.” The expansion includes doubling cement production capacity at Dangote’s Mugher plant to 5
Ethio Telecom, Ethiopia’s state-owned telecommunications provider, reported a significant financial performance for the first half of the fiscal year, generating 61.9 billion birr ($491.57 million) in revenue. This marks an increase of over 40% compared to the same period last year, according to CEO Frehiwot Tamiru. The Ethiopian government is in the process of privatizing
In a significant step toward supporting Ethiopia’s growing electric vehicle (EV) ecosystem, Ethio Telecom has launched an ultra-fast EV charging station along Bole-Megenagna Road in Addis Ababa. This initiative aligns with the company’s vision of driving digital transformation and promoting sustainable mobility. The state-of-the-art facility is designed to meet the increasing demand for fast and
International Monetary Fund (IMF) Managing Director Kristalina Georgieva paid a working visit to Ethiopia, where she met with Prime Minister Abiy Ahmed (PhD) and senior federal officials. She also issued a joint statement with Finance Minister Ahmed Shide, addressing the country’s economic challenges and reform efforts. During her remarks, Georgieva acknowledged the difficulty and time-consuming
In a significant step toward modernization, Ethiopia has launched its Digital Agriculture Roadmap (DAR), designed to leverage digital technology to transform the nation’s agricultural sector. Developed in collaboration with government agencies, experts, and donor organizations, DAR marks a strategic shift in how agriculture will be managed and developed in the coming years. The roadmap adopts
The Ethiopian Parliament approved a $550 million loan agreement aimed at increasing the capital of the Commercial Bank of Ethiopia (CBE). This move is intended to strengthen the state-owned bank, making it more competitive and enabling it to operate effectively within the region. The loan is part of a $700 million financing package provided by
The Ethiopian Commodity Exchange (ECX) has introduced an advanced online trading platform, marking a significant step toward modernizing Ethiopia’s trading systems in line with the country’s Digital Ethiopia 2030 strategy. Since its inception 17 years ago, the ECX has facilitated the trade of over 8 million tons of commodities, generating a revenue of Birr 401.3
The Red Sea’s security challenges have significantly disrupted cargo flow, according to Abdillahi Adaweh, CEO of Djibouti’s Doraleh Container Terminal Management Company. However, he noted recent indications of an improving situation. Djibouti’s ports, which facilitate over 95% of Ethiopia’s import and export trade, lie on the Red Sea—a route accounting for 12% of global trade
Ethiopia has achieved a record-breaking milestone, earning over $1 billion from gold exports within just five months, the Ministry of Trade and Regional Integration (MoTRI) announced. This remarkable achievement is attributed to the country’s ongoing macroeconomic reforms, which have been instrumental in curbing illicit trade and boosting export revenues. Speaking at the third National Anti-Illicit
The National Bank of Ethiopia’s (NBE) Monetary Policy Committee (MPC) held its inaugural meeting on December 31, 2024, marking a significant step in the country’s efforts to strengthen monetary policy frameworks. The MPC reviewed Ethiopia’s macroeconomic performance and proposed measures to sustain price stability and support economic growth. Inflation in Ethiopia has continued to decline,
Ethiopia is undergoing a remarkable transformation in its payment system, driven by a commitment to building a more digital and inclusive economy. Spearheaded by the National Bank of Ethiopia, this journey has been marked by strategic initiatives, regulatory reforms, and the embrace of innovative technologies. The Beginning (2011-2014) The story began in 2011 with the
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