Nexara

A new oil factory, built at a cost of Birr 150 million, has been officially inaugurated in Assosa town, Benishangul Gumuz region. The factory is expected to enhance local oil production and reduce dependency on external supplies. During the inauguration ceremony, Benishangul Gumuz Regional Governor Ashadli Hassan highlighted the region’s abundant production of raw materials …

Ethiopia: New Oil Factory Inaugurated in Benishangul Gumuz Region Read More »

Ethiopia’s sovereign wealth fund, Ethiopian Investment Holdings (EIH), has announced plans to introduce competition into the country’s multimodal transport sector, marking a shift in an industry long dominated by state-owned Ethiopian Shipping and Logistics (ESL). The Ethiopian Maritime Authority (EMA) recently granted operational licenses to three private companies—Panafric Global, Tikur Abay Transport, and Cosmos Multimodal …

Ethiopia: EIH Introduces Competition in Ethiopia’s Multimodal Transport Sector Read More »

The Ethiopian Investment Commission (EIC) has been intensifying new strategies to attract more international corporations and leverage the country’s ongoing transformation. Commissioner of the EIC, Zeleke Temesgen told ENA that Ethiopia is strategically positioning itself as a leading investment destination through significant reforms. “With a dynamic and reformist government at the helm, the country is …

Ethiopia Embarks on New Investment Strategy to Attract Global Investors: EIC Commissioner Read More »

Ethio-Djibouti Railway service (EDR) has announced the launch of an online ticket booking service for its passengers. The company’s CEO Engineer Takele Uma announced today on his social media page that starting from February 24, 2025, passengers will be able to book and use their national ID online. He noted that the Ethio-Djibouti Railway service …

Ethio-Djibouti Railway launches online ticketing service Read More »

Ethiopia and Russia have agreed to further enhance investment in multiple areas. Ethiopian Investment Commissioner Zeleke Temesgen had discussion with a high-level Russian delegation led by Economic Development Minister Maxim Reshetnikov in Addis Ababa. The commissioner briefed the delegation on the reforms undertaken by the government to empower the private sector, create favorable investment environment …

Ethiopia, Russia Agree to Strengthen Investment Cooperation Read More »

Six local and international investors, collectively contributing over $60 million, have officially launched construction and machinery installation at the Bole Lemi Special Economic Zone (SEZ). These investors recently entered into service level agreements with the Industrial Parks Development Corporation (IPDC). Feseha Yetgesu (PhD), CEO of IPDC, described the developments as a crucial advancement for industrial …

Six investors inject $160 million in Bole Lemi SEZ as construction and machinery installation commence Read More »

UK Deputy Prime Minister Angela Rayner has paid a visit to Ethiopian Airlines. The Deputy Prime Minister of the United Kingdom, and her delegation visited Ethiopian Airlines. During their visit, they visited the Ethiopian Aviation University, Ethiopian Maintenance and Repair Overhaul facilities, and our state-of-the-art flight simulators, followed by productive discussions with our Group CEO …

UK Deputy PM Angela Rayner Visits Ethiopian Airlines Read More »

The Addis Ababa City Administration has reported a revenue collection of over Birr 111 billion in the first half of the fiscal year, exceeding expectations. During a regular city council meeting, Mayor Adanech Abebe presented the performance report, revealing that Birr 111.5 billion was collected, with a Birr 37.2 billion increase compared to the same …

Ethiopia: Addis Ababa City Administration Collects Over Birr 111 billion in Revenue Read More »

Ethiopia’s Ministry of Finance and Ethiopian Electric Power (EEP) have signed a Memorandum of Understanding (MoU) with the African Trade Insurance Agency (ATIDI) to accelerate the country’s clean energy transition. The partnership will attract foreign investment in renewable energy projects through ATIDI’s Regional Liquidity Support Facility (RLSF). The MoU allows Independent Power Producers (IPPs) and …

Ethiopia Partners with ATIDI to Boost Renewable Energy Investment Read More »

UK Deputy Prime Minister (DPM) Angela Rayner emphasized the importance of products being produced in an environmentally sustainable manner while upholding quality standards. She made these remarks during a meeting with the CEO of the Ethiopian Industrial Parks Development Corporation (IPDC), Feseha Yetgesu (PhD), at the Hawassa Special Economic Zone (SEZ). The CEO briefed the …

UK Deputy PM highlights market opportunity in Ethiopia for sustainable, quality products Read More »