Nexara

Despite investing heavily in industrial park development, Ethiopia has yet to fully realize its economic potential from these facilities. A high-level consultation between the Industrial Parks Development Corporation (IPDC) and the Ethiopian Investment Commission (EIC) revealed that while over 1.6 billion USD has been poured into 13 industrial parks over the past nine years, their …

Industrial Parks Generate Only USD 1.2 Billion in Nine Years Despite Heavy Investment Read More »

The amount of gold supplied annually from Southwest Ethiopia to the National Bank has plummeted from 800 kilograms to just 90 kilograms, according to G/Mariam Setegn, Director of the region’s Minerals and Energy Agency. Between 2007 and 2023 (2000 and 2015 E.C.), significant quantities of gold were regularly delivered to the National Bank, but in …

Gold Supply to National Bank Drops Sharply in Southwest Ethiopia Amid Illegal Trade Concerns Read More »

The Addis Ababa Traffic Management Authority has announced that newly approved regulations for vehicle parking services in the city will be implemented this week. The new rules aim to optimize the use of parking spaces, particularly those underutilized in buildings, and increase the overall supply of vehicle parking. The regulations apply to various parking facilities, …

Ethiopia: Addis Ababa Introduces New Parking Regulations Read More »

Toyo Solar, a subsidiary of Japan’s Toyo Corporation, has expressed its interest in capitalizing on investment opportunities available in Ethiopia’s Industrial Parks, as revealed by the Industrial Parks Development Corporation of Ethiopia (IPDC). This revelation came about during a meeting between IPDC’s CEO, Fisseha Yitagesu, and Toyo Solar’s Vietnam branch General Manager, Li Huang, which …

Toyo Solar targets $100M investment in Ethiopia with potential for 400+ employments Read More »

 Minister of Finance Mr. Ahmed Shide stated that Ethiopia has emerged as the top destination in East Africa for attracting foreign direct investment, solidifying its position as a beacon of economic growth and opportunity in the region. The Finance Minister made this statement at the Ethiopia-China High-Level Business Forum being held in Beijing on the …

Ethiopia tops foreign direct investment in East Africa – Finance Minister Read More »

The Minister of Foreign Affairs, Taye Atse-Selassie, stated that Ethiopia’s recent macroeconomic reforms have opened up new and promising opportunities for investors. In his speech at the Ethiopia-China High-Level Business Forum being held in Beijing, the foreign minister emphasized that Ethiopia values the principle of mutual benefit advocated by China. He assured that Ethiopia will …

Ethiopia’s recent economic reforms opened up new opportunities for investors – FM Taye Read More »

Nearly a decade after its much-anticipated launch, Addis Ababa’s light-rail system is facing significant challenges, with only 15 of the original 41 trains still operational. The decline in service is attributed to a shortage of spare parts, inadequate maintenance facilities, and frequent power outages.  Ato Worku Desta, Deputy Head of the Research and Technology Department …

Ethiopia: Addis Ababa Rail System Struggles as Only 15 Trains Remain Operational Read More »

The Ethiopian Construction Works Corporation (ECWC) is set to launch electric vehicle (EV) maintenance services in Addis Ababa. The corporation announced that its new maintenance workshop, located in the Kality area of the capital, will be the first in Ethiopia to offer specialized services for electric vehicles. ECWC CEO Yonas Ayalew emphasized that the primary …

Ethiopia: ECWC Prepares to Launch Electric Vehicle Maintenance Service in Addis Ababa Read More »

The Development Bank of Ethiopia (DBE) has reduced its bad loans from 57 percent to 6.5 percent, following reforms implemented over the past five years. In the most recent Ethiopian fiscal year, the bank extended loans worth Birr 32 billion and recorded a profit of Birr 5.5 billion. DBE President Yohannes Ayalew emphasized that the …

Development Bank of Ethiopia Reduces Bad Loans to 6.5% Read More »

MIDROC Ethiopia Investment Group and the Bill and Melinda Gates Foundation have entered an agreement to cooperate in various domains of agriculture. The agreement was signed by Mr. Jemal Ahmed, CEO of MIDROC Ethiopia Investment Group, and Bill Gates, founder and chairman of the Bill and Melinda Gates Foundation. The two officials have agreed to …

MIDROC Investment Group, Gates Foundation ink MOU Read More »