Nexara

Ethiopian Electric Power (EEP) has announced it earned USD 31.5 million from exporting electricity to neighboring countries during the first three months of the current fiscal year. The electricity was sold to Djibouti, Sudan, and Kenya, amounting to 497.8 gigawatt hours, with a revenue performance of 91.8% compared to the plan. Moges Mekonon, Director of …

Ethiopian Electric Power Generates USD 31.5 Million from Electricity Exports in First Quarter Read More »

Addis Ababa Investment Commission (AAIC) has announced a target to draw Birr 8 billion in investment capital this fiscal year, focusing on key sectors such as manufacturing, services, urban agriculture, and construction. Enatnesh Tamene, the Commission’s Plan and Budget Director, announced the announcement. According to the Director, the Commission prioritizes fast and efficient services to …

Ethiopia: Addis Ababa Aims to Attract Birr 8 Billion in Investment for 2024 Read More »

Ethiopian Investment Holdings (EIH) and Dodai Manufacturing PLC have announced a partnership to promote sustainable transportation across Ethiopia. The agreement aims to advance green economic development and align with Ethiopia’s climate resilience goals. At the launch ceremony, EIH CEO Brook Taye (PhD) emphasized the partnership’s alignment with the government’s climate agenda. “Our commitment to supporting …

Ethiopian Investment Holdings and Dodai Manufacturing Partner to Drive Sustainable Transport in Ethiopia Read More »

Ethiopian Airlines, the largest carrier in Africa, announced Tuesday that it will resume its passenger services to Monrovia, Liberia, reaffirming its commitment to strengthening connections across the African continent. Starting on November 30, 2024, the airline said it will offer three weekly flights to Liberia’s capital, restoring a critical air link that will enhance connectivity …

Ethiopian Airlines to resume passenger flight to Monrovia next month Read More »

Ethiopian Securities Exchange (ESX) has signed a Memorandum of Understanding (MoU) with the Nairobi Securities Exchange (NSE) and iCapital Africa Institute, aiming to accelerate the growth and integration of capital markets in Ethiopia and Kenya. At the signing ceremony, ESX CEO Tilahun Ismael (PhD) highlighted the strategic collaboration’s focus on fostering knowledge exchange, capacity building, …

Ethiopian Securities Exchange Signs MoU with Nairobi Securities Exchange and iCapital Africa Institute Read More »

TeleTv, a newly launched entertainment platform, has contributed USD 25 million to the Ethiopian economy within its first four months of operation, according to Besufekad Getachew, Founder and CEO of Eaglelion. During a press briefing, Besufekad shared that TeleTv, developed under Eaglelion’s system technology, offered various movies, TV series, shows, and exclusive interviews. With a …

TeleTv Injects USD 25 Million into Ethiopian Economy in Four Months Read More »

Transport and Logistics Minister Alemu Sime said the transport and logistics sector is working to provide services suitable for the country’s growing economy. The 100-day performance review of the Council of Ministers for the first quarter of 2017 was held in the presence of Prime Minister Abiy Ahmed. On the occasion, it was indicated that …

Transport, Logistics Sector Advancing to Provide Services Suitable for Ethiopia’s Growing Economy: Minister Alemu Read More »

Ethiopia Telecom announced the commercial launch of the 5th generation mobile services in Bahir Dar City and the surrounding. The expansion of the new service has been achieved through the establishment of 5th-generation mobile service stations across various areas of the Northwest Region of Bahadar city, according to the company. “Enterprise and individual customers in …

Ethio Telecom officially launches 5G mobile network services in Bahir Dar City Read More »

 The total value of Russian companies’ contracts for the export of used vehicles from Moscow to BRICS countries and partners has exceeded 21 billion roubles (US$215 million), according to Moscow Mayor Sergey Sobianin. According to the mayor of the Russian capital, all exports to the BRICS+ countries grew almost threefold with Moscow’s support. The most …

Moscow triples vehicle exports to BRICS countries Read More »

Addressing a plenary session of the BRICS Business Forum in Moscow virtually, the Prime Minister has encouraged investors from BRICS countries to seize the opportunities available in Ethiopia, particularly in sectors such as manufacturing, agriculture, renewable energy, mining, ICT, and tourism. “These industries in Ethiopia hold enormous potential for growth and innovation, and by investing …

PM Abiy encourages investors from BRICS countries to seize opportunities in Ethiopia Read More »