Nexara

China’s Grand World Investment Holding Group has expressed a desire to engage in the manufacturing sector of Ethiopia. According to the Embassy of Ethiopia in Beijing, the Deputy Head of the Ethiopian Mission to China, Ambassador Dawano Kedir discussed with the President of Grand World Investment Holding Group, Wenguang Liu. Accordingly, Ambassador Dawano briefed the …

Grand World Investment Holding Group Expresses Desire to Invest in Ethiopia Read More »

Ethiopia’s trade performance over the past nine months showed positive signs, though falling short of initial targets. The country aimed to achieve USD 3.562 billion in foreign trade revenue, but only reached USD 2.541 billion, representing 71.34% of the goal. Similarly, the Ministry of Trade and Regional Integration (MoTRI) targeted USD 816 million from monitored …

Ethiopia’s Exports Reach USD 2.5 Billion in Nine Months Read More »

Ethiopia’s industrial parks have produced more than 200 million USD worth of goods that replace imports, the Industrial Parks Development Corporation (IPDC) announced. The parks have also earned over 90 million USD in revenue during the stated period by exporting various products to the international market, ENA reported. IPDC CEO, Mr. Aklilu Taddese said the …

Industrial Parks Substituted Over $200M Worth Of Import Goods In 9 Months Read More »

Ethiopia has been earning 50 million US dollars on average per annum from the marines it trains and gets hired in different countries, Ethiopian Maritime Authority Director-General Abdulber Shemsu disclosed. Ethiopia has been executing training projects for seafarers in a public-private partnership arrangement for employment at international shipping companies. Having a long history in maritime …

Ethiopia Securing 50 Million USD Annually from Marines Deployed in Different Countries  Read More »

The Ethiopian delegation led by Finance Minister Ahmed Shide met with UK State Minister for Development and Africa Andrew Mitchell on the sidelines of the 2024 WB-IMF Spring Meetings. The discussions focused on Ethiopia’s economic prospects and resilience amidst local and evolving global challenges, according to the Ethiopian Embassy in Washington D.C., USA. It also …

Finance Minister Ahmed Shide Meets with UK State Minister for Development, Africa Read More »

Ethiopia’s Finance Minister Ahmed Shide represented Ethiopia at the Global Sovereign Debt Roundtable/GSDR co-chaired by the IMF, WB, and Brazil as the G20 Presidency, during the 2024 Spring Meetings. The meeting, according to the Ethiopian Embassy in Washington, D.C., was attended by Paris Club and non-Paris Club creditors, debtor countries, and representatives of the private …

Ethiopia Advocates For Accelerated Debt Relief At Global Sovereign Debt Roundtable Read More »

The largest airline in Africa, Ethiopian Airlines today announced that it will commence four times-a-weekly passenger flight services to Warsaw, the capital of Poland. The flight schedule to the Polish capital will be effective starting from June 16, 2024, the airline confirmed. Warsaw is said to be a city of beautiful architecture, peaceful parks, a …

Ethiopian Airlines Announces Four Weekly Passenger Flights To Warsaw Read More »

Ethiopia’s annual expenditure of Birr 1.3 billion on production machinery, primarily imported, has sparked discussions on leveraging capital equipment lease finance to bolster the country’s manufacturing sector. Currently, 91 percent of these machines are sourced from abroad, highlighting a significant reliance on international markets for crucial manufacturing equipment. In response to this trend, the concept …

Ethiopia Explores Capital Equipment Lease Finance to Boost Domestic Manufacturing Read More »

In a bold move designed to boost economic growth, Ethiopia took a major shift in its trade policy. The Ethiopian Investment Commission (EIC) and the Ministry of Trade and Regional Integration jointly revealed that export, import, wholesale, and retail trade sectors would now be open to foreign companies. Hanna Arayaselassie, Commissioner of the EIC explained …

Ethiopia Opens Doors to Foreign Investors in Trade Shakeup Read More »

Ethiopian Airlines, Africa’s largest carrier, has confirmed that it will increase the frequency of its flights to Kigali, Rwanda, to 18 times weekly. The new schedule to and fro the Rwandan capital will be effective starting from June 16, 2024. The airline confirmed that it currently operates 12 weekly passenger flights to and from Kigali.