Nexara

The International Monetary Fund (IMF) has raised Ethiopia’s net international reserves target to help the country meet upcoming foreign currency payments. This follows Ethiopia’s USD 3.4 billion, four-year financing deal secured with the IMF in July, contingent on major economic reforms, including the recent flotation of the birr currency. Ethiopia is now working to resume …

IMF Raises Ethiopia’s Reserve Target Amid Economic Reforms and Debt Restructuring Efforts Read More »

British-Dutch consumer goods giant Unilever has announced plans to reduce its global workforce, starting next month, in a bid to increase profitability. Operating in over 190 countries, including Ethiopia, Unilever employs over 128,000 people worldwide and produces brands such as Signal, Lifebuoy, OMO, and Knorr. The decision to downsize follows months of declining profits and …

Unilever to Reduce Global Workforce, Impacting Ethiopia and Other Markets Read More »

Lemi National Cement Factory, located in Ethiopia’s Amhara Regional State, Ensaro Woreda, has started offering its cement products to the market as of October 31, 2024. Situated 130 kilometers north of Addis Ababa, the factory was launched to help stabilize the country’s cement market by promptly supplying high-demand products. Equipped with a modern, organized laboratory …

Ethiopia: Lemi National Cement Factory Begins Offering Products to Market Read More »

Ethiopian Airlines, the biggest carrier in Africa, received Monday the first A350-1000 passenger plane named “Ethiopia: Land of Origins” from Airbus company in a ceremony held in Toulouse, France. This brand-new aircraft will arrive at Addis Ababa Bole International Airport on Tuesday 5th November 2024. It is known that Prime Minister Abiy Ahmed recently disclosed to …

Ethiopian Airlines receives Africa’s first A350-1000 aircraft from Airbus Read More »

The commencement of Ethiopian Airlines flights to Dhaka will boost the investment and business cooperation between Ethiopia and Bangladesh, Bangladesh Ambassador to Ethiopia, Sikder Bodiruzzaman underscored. Ethiopian Airlines, Africa’s largest airline and a member of the Star Alliance has officially launched the commencement of its new five weekly flights to Dhaka, Bangladesh. Speaking on the …

Ethiopian flight to Dhaka boosts investment, business cooperation between Ethiopia & Bangladesh Read More »

 Ethiopian Airlines has shared an exciting update on social media, revealing that the countdown has begun for the arrival of its new A350-1000, just two days away. Described as a game-changer for air travel, the airline emphasized that this state-of-the-art aircraft will offer passengers an exceptional flying experience. Scheduled to arrive on November 6, this …

Ethiopian Airlines set to receive Africa’s first A350-1000 in just two days Read More »

The pace and ambition of the economic reform taking place are very impressive to penetrate investment opportunities in Ethiopia, Elisabeth Hirschbichler who led an Austrian business delegation to Ethiopia said. Austria-Ethiopia Business Forum was held in Addis Ababa last week aimed at bolstering the economic ties of the two countries. In an exclusive interview with …

Austrian delegation impressed by pace, reformed investment climate in Ethiopia  Read More »

The Lemi National Cement Factory, the largest in Ethiopia, has announced that it has commenced supplying its products to the local market since yesterday. With a production capacity of 150,000 quintals per day, the factory aims to significantly reduce Ethiopia’s reliance on cement imports, thereby boosting the country’s construction and infrastructure sectors. Completed in just …

Lemi National Cement Factory begins supplying local market Read More »

The Industrial Parks Development Corporation (IPDC) reported attracting USD 300 million in investments and generated over USD 26 billion in export revenue in the first quarter of the 2024/25 fiscal year. According to IPDC’s Deputy Chief Executive Officer for Investment Promotion and Marketing, Zemen Junedi, 45 new investors have committed to ventures within the industrial …

Ethiopia’s Industrial Parks Development Corporation Attracts USD 300 Million in Investments Read More »

Ethiopia’s State Minister of Finance, Semereta Sewasew held a strategic discussion with the Director of Key Accounts from Alibaba International Digital Commerce Group – AliExpress, alongside their respective teams in Addis Ababa. This meeting marks a pivotal step in advancing Ethiopia’s e-commerce landscape as AliExpress officially launches its services in the country, focusing on job …

Ethiopia Expands E-Commerce Sector in Partnership with AliExpress Read More »